<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 14, 2018 - June 20, 2018</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Low Taek Jho (Jho Low), the financier described as the mastermind behind the 1Malaysia Development Bhd (1MDB) scandal, is in Dubai and has offered to meet the 1MDB task force in the Gulf city, a news portal reported yesterday.</p></div>

<div class=newsTextDataWrapInner><p>His lawyers are first expected to discuss with Malaysian Anti-Corruption Commission (MACC) officials here on how Low can assist in the 1MDB probe, said The Malaysian Insight.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>A spokesman for the Penang-born billionaire issued a statement last week saying Low has instructed his lawyers to get in touch with the MACC, after the commission said it wants to question him about former 1MDB unit SRC International Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>Low’s whereabouts have not been established. Nanyang Siang Pau reported last month that he could be hiding in Taiwan. Prime Minister Tun Dr Mahathir Mohamad had earlier said Putrajaya “roughly knows” where to find Low.</p></div>


KUALA LUMPUR: Low Taek Jho (Jho Low), the financier described as the mastermind behind the 1Malaysia Development Bhd (1MDB) scandal, is in Dubai and has offered to meet the 1MDB task force in the Gulf city, a news portal reported yesterday.

His lawyers are first expected to discuss with...

‘Jho Low has offered to meet 1MDB investigators in Dubai’

The Sessions Court here on Friday ordered an activist to defend himself on a charge of issuing a statement on his Facebook page that was mixed with sedition and for insulting the Yang di-Pertuan Agong, three years ago.

Iswardy Morni ordered to enter his defence for allegedly insulting Agong

The remand order for 24 individuals, including the top management of GISB Holdings Sdn Bhd (GISBH), has been extended for another seven days until Oct 10 to assist in investigations under the Anti-Trafficking in Persons and Anti-Smuggling of Migrants (ATIPSOM) Act 2022.

Remand extended for 24 individuals including GISB’s top management

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Friday amid rising crude oil prices, a dealer said.

Palm oil trader David Ng said the price hike was driven by the expectation of a strong export CPO pace and escalating tension in the Middle East.

CPO futures close higher amid rising crude oil prices

In less than 24 hours, Chinese consumers snapped up the first batch of fresh Malaysian durians exported to China.

A total of 40 tonnes were put on sale from Aug 26 onwards at selected retail outlets in six regions in the People's Republic.

Consumers in China snap up Malaysian durians

American hip-hop producer and rapper Kasseem Dean, popularly known as Swizz Beatz, allegedly received US$7.3 million (RM30.8 million) in stolen 1Malaysia Development Bhd (1MDB) funds, the Law360 legal news service reported, citing a lawsuit filed in the US.

Hip-hop producer Swizz Beatz faces lawsuit for allegedly receiving US$7.3 mil in 1MDB funds

Here is a brief recap of some business news and corporate announcements that made headlines on Friday.

HeiTech Padu, Pestech, Velesto, OCR, Kumpulan Jetson, Solar District Cooling, EG Industries, Sanichi, Aneka Jaringan and MyTech

The Human Resource Development Corporation (HRD Corp) said companies can now claim training course fees based on hourly rates, replacing the previous half-day or full-day structures.

HRD Corp now allows hourly-based claims for training programmes, with higher ceiling for course fees

OCR Group Bhd (KL:OCR) said the group is suing Kumpulan Jetson Bhd (KL:JETSON) over alleged breaches of a RM88.03 million contract to build four blocks of serviced apartments in Jalan Yap Kwan Seng, Kuala Lumpur.

OCR sues Kumpulan Jetson over alleged breach of RM88 mil construction contract

Bets on more aggressive monetary easing in a number of advanced economies risk making the Bank of Japan (BOJ) stand out all the more for contemplating raising, not lowering interest rates.

Bank of England governor Andrew Bailey said his central bank can become “a bit more activist” in its approach to lowering rates, in remarks published on Thursday.

Stepped-up global easing risks making it harder for BOJ to hike

Global stocks rose on Friday while oil prices headed for their biggest weekly gain in two years, as escalating tensions in the Middle East kept markets on edge.

Stocks rise in jittery trade, focus on Middle East and jobs data

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>Pertama Digital Bhd (KL:PERTAMA) hit its limit down again during the early trading session on Friday, with the stock plunging below the RM1 mark, reaching its lowest level since April 2022.</p>


Pertama Digital shares plunge below RM1; RM571 mil market cap wiped out in one week  

<p>KUALA LUMPUR (Oct 4): Bermaz Auto Bhd (KL:BAUTO) could potentially get a special dividend from its 30%-owned associate Mazda Malaysia Sdn Bhd, which could serve as a re-rating catalyst, CIMB Securities flagged on Friday.</p>


CIMB Securities foresees Bermaz Auto potentially getting a special dividend from its associate

<p>(Oct 4):&nbsp;Billions of dollars have exited China’s largest money market exchange-traded funds (ETFs), just as&nbsp;billions more flowed&nbsp;into ETFs tracking equities, signalling that Beijing has finally drawn skeptical investors back to the country’s struggling stock market.</p>


China’s cash funds lose billions in rush back to stock market

<p>M&amp;M Ventures Holdings Sdn Bhd, through its affiliated company M&amp;M Construction Sdn Bhd, has announced the development of its maiden venture retail park project next to ICC Pudu in Kuala Lumpur.</p>


M&M Ventures unveils RM50 mil retail park project next to ICC Pudu

<p>HeiTech Padu Bhd (KL:HTPADU) said on Friday that it is not aware of any corporate development that caused the unusual market activity (UMA) in its shares which spiked to a record high.</p>


HeiTech Padu says unaware of reason for unusual market activity as shares rally past RM4 for first time

<p>Malaysia's largest banking group by assets, Malayan Banking Bhd (KL:MAYBANK), could face headwinds due to the Federal Reserve's rate cuts and currency fluctuations, which could impact its operations in Singapore.</p>


Maybank to see impact from US rate cuts in Singapore, says HLIB

<p>Singapore charged property tycoon Ong Beng Seng on Friday in connection with an ex-government minister who was sentenced to jail for obtaining gifts from the billionaire.</p>

<p>The 78-year-old Ong didn’t immediately enter a plea in response to the charges of abetment and obstruction of justice, and didn’t respond to questions when he left court.</p>


Singapore charges tycoon Ong Beng Seng after ex-minister convicted

<p>Malaysia’s semiconductor industry must diversify and go beyond its heavy reliance on multinational corporations and manufacturing capabilities to secure its position in the global market, especially in the face of potential disruptions, said Economy Minister Rafizi Ramli.</p>


Rafizi: Malaysia's semiconductor industry must diversify to sustain global position

<p>Gamuda Land Bhd, the property arm of Gamuda Bhd (KL:GAMUDA), has taken over the management and operations of Paya Indah Discovery Wetlands at Gamuda Cove, Kuala Langat.</p>


Gamuda Land takes over management of Paya Indah Discovery Wetlands in Kuala Langat

<p>KUALA LUMPUR (Oct 4): The demand for Sabah and Sarawak to hold 35% of seats in the lower house of Parliament, the Dewan Rakyat, would cause major electoral distortions that could undermine the country’s representative democracy, said electoral reform non-governmental organisation (NGO) Engage.</p>


35% Dewan Rakyat seat allocation for Sabah, Sarawak would cause ‘major electoral distortions’, NGO warns

<p>KUALA LUMPUR (Oct 4): Former finance minister Tun Daim Zainuddin’s wife, Toh Puan Na’imah Abdul Khalid, was allowed to obtain temporary custody of her passport from the Sessions Court here, as she will be travelling to the United Kingdom and Japan to meet her lawyers.</p>


Daim’s wife Na’imah gets temporary custody of her passport to meet lawyers overseas

<p>Privately owned rail construction company Dhaya Maju Infrastructure (Asia) Sdn Bhd is taking up a 57.52% stake in Pestech International Bhd (KL:PESTECH) for RM160 million through a restricted issue.</p>


Dhaya Maju to acquire 57.52% stake in Pestech for RM160 mil or 12 sen per share

<p>The European Union (EU) voted on Friday to impose tariffs as high as 45% on electric vehicles (EVs) from China in a move set to increase trade tensions with Beijing.</p>

<p>The European Commission, the bloc’s executive arm, can now proceed with implementing the duties, which would last for five years.</p>


EU to impose tariffs up to 45% on Chinese electric vehicles

<p>The Road Transport Department (JPJ) has advised the public to check and settle any outstanding summonses to qualify for the special licence transition programme, which allows B1 and B2 licence holders to upgrade to class B (high-powered motorcycles).</p>


JPJ: Settle summonses to qualify for special licence transition programme

<p>Tropicana Corp Bhd (KL:TROP) has topped off the RM932 million Edelweiss Serviced Residences, SOFO and Shoppes with a 100% take-up rate for the residential component and 60% for the retail units, according to a press statement on Thursday.</p>


Tropicana Corp tops off Edelweiss Serviced Residences, SOFO and Shoppes at Tropicana Gardens

<p>Prime Minister Datuk Seri Anwar Ibrahim arrived here on Friday for an official visit to pave the way for closer ties between Malaysia and Bangladesh.</p>

<p>His aircraft landed at the Hazrat Shahjalal International Airport at 2pm local time (4pm Malaysian time).</p>


Anwar arrives in Bangladesh

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday.</p>


FBM KLCI down 0.71% to 1,629.97 on Oct 4, 2024

<p>OCR Group Bhd (KL:OCR) said the group is suing Kumpulan Jetson Bhd (KL:JETSON) over alleged breaches of a RM88.03 million contract to build four blocks of serviced apartments in Jalan Yap Kwan Seng, Kuala Lumpur.</p>


<p>The European Union is headed into an “economic cold war” if it opts to approve additional tariffs on Chinese electric vehicles (EVs), according to Hungarian Prime Minister Viktor Orban.</p>
