Malaysia

In an interview with Bloomberg, Finance Minister Lim Guan Eng has estimated that approximately US$3.5 billion, or RM14.2 billion, worth of funds that were siphoned from 1Malaysia Development Berhad (1MDB) may be recovered. The amount cited by Mr Lim equates to 30 percent of the total of US$12.3 billion, or RM50 billion, worth of funds that were purportedly channelled out illegally from …

A letter purportedly written by the top intelligence officer in former Najib's administration to the Director of Central Intelligence Agency of United States, seeking CIA's backing for Najib has surfaced. The request made 5 days before the May 9 general election in Malaysia, was said to be Najib's attempt to obtain the assistance of a foreign intelligence agency and government …

Malaysia will look into negotiating the delay of the Kuala Lumpur-Singapore High-Speed Rail project, said Prime Minister of Malaysia Dr Mahathir Mohamad yesterday. Speaking to reporters at the Malaysian Parliament on 19 July, he said that the decision to negotiate a deferment was made after "having studied it [Malaysia's financial situation] and the implication of unilaterally discarding the contract". "When …

Executive Chairman and co-founder of Banyan Tree Limited Holdings, Mr Ho Kwon Ping warned that it would be a “foolish mistake” for Singaporeans to heed Malaysian Prime Minister Dr Mahathir Mohamad’s suggestion that Singaporeans “must be tired of their government”.   Speaking at the OCBC Global Treasury Economic and Business Forum on "Singapore Politics and Business in an Age of …

The Maritime and Port Authority of Singapore (MPA) and the Marine Department of Malaysia (MDM) conducted a joint chemical spill exercise at sea along the East Johor Strait to test the Joint Emergency Response Plan (ERP) for Chemical Spill Incidents in the East Johor Strait on Thursday (12 July). The event was jointly developed by MPA, MDM, the National Environment …

The Monetary Authority of Singapore (MAS) is closely monitoring and probing new leads surfacing from Malaysia and elsewhere in relation to the 1MDB scandal, said MAS managing director Ravi Menon on 4 July. In a briefing on the central bank’s annual report, Mr Menon said that the MAS has “proactively” responded to “every request for information made by the Malaysian authorities," according …

KUALA LUMPUR, 4 July — Former Prime Minister of Malaysia Najib Razak has been charged with criminal breach of trust and corruption, two months after being investigated over a multibillion dollar graft scandal under the 1MDB state investment fund. He was arrested on 2 July by Malaysian Anti-Corruption Commission (MACC) officials over a suspicious transfer of RM42mil (approximately S$14.2mil) into …

The Malaysian Bar has launched criticisms against the 1MDB Special Task Force regarding their announcement of former Prime Minister Najib Razak’s arrest yesterday. George Varughese, the Bar Council's president, said on 3 July that the task force does not have any legal authority in making such arrests. “The Malaysian Bar is shocked and troubled by the press statement issued today by …

Under the new Pakatan Harapan government, those who have been appointed to spearhead Malaysian government linked-companies (GLCs) should no longer expect to receive big salaries. Speaking to Malaysian media at the end of his two-day visit to Jakarta on an ASEAN tour on 30 June, Malaysian Prime Minister, Tun Dr Mahathir Mohamad said that while their salaries will not be …

    (Updated as of 5.37 p.m., SGT) KUALA LUMPUR, Jul 3 — Former Prime Minister of Malaysia, Datuk Seri Najib Razak has been arrested today. Officials from the Malaysian Anti-Corruption Commission (MACC) have confirmed the arrest was made at Najib's house on Jalan Langgak Duta in the capital city today at 2.35pm. He is expected to be brought to …