1Malaysia Development Berhad (1MDB)

Jho Low remains a wanted man: Singapore police

SINGAPORE (Jan 10): Low Taek Jho remains a wanted man by Singapore, confirmed a Singapore Police Force spokesman on Jan 10.

This confirmation is made after The Straits Times published an extensive interview where Low maintains that he was merely an intermediary of the 1MDB-related fund flows and not the mastermind as he is alleged to be.

Jho Low, as he is better known, was put on the Interpol Red Notice by Singapore back in October 2016, after investigations commenced on 1MDB-related fund flows involving Singapore-based banks.

Najib takes stand, denies everything

SINGAPORE (Dec 9): On Dec 3, former Malaysian prime minister Najib Abdul Razak took the stand as the first witness in his trial for seven counts of abuse of power, criminal breach of trust and money-laundering of RM42 million from SRC International, a subsidiary of the beleaguered 1Malaysia Development Bhd (1MDB).

For the first time in the country’s history, a former premier is in the docks and giving sworn testimony in his defence. Najib is on trial for what is believed to be the biggest and most wide-ranging graft scandal in recent years.

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Builder of ex-1MDB project mulls IPO

Builder of ex-1MDB project mulls IPO

(Dec 3): Iskandar Waterfront Holdings is considering an initial public offering as early as next year, partly to help fund the US$33.5 billion ($45.8 billion) Bandar Malaysia project, according to people with knowledge of the matter.

The company known as IWH is working with at least one adviser for the listing that may fetch a valuation of about 30 billion ringgit ($9.8 billion), said one of the people, who asked not to be named because the information is private.

Malaysia aims to locate further US$4.3 billion in 1MDB-linked assets

(Nov 5): Malaysia is working to locate at least US$4.3 billion ($5.8 billion) in assets that have yet to be accounted for in a global money laundering probe into state fund 1MDB, its anti-corruption chief said on Tuesday.

U.S. authorities say about US$4.5 billion was siphoned from sovereign wealth fund 1Malaysia Development Berhad (1MDB) in a scandal spanning several countries but Malaysian officials say much more was stolen.

US DOJ reaches civil settlement with Jho Low but key 1MDB figure remains a fugitive

SINGAPORE (Nov 4): The United States Department of Justice (DOJ) has recovered the assets acquired by Low Taek Jho, aka Jho Low, the fugitive businessman wanted in relation to the 1Malaysia Development Bhd (1MDB) scandal.

The assets, located in the US, the UK and Switzerland, are estimated to be worth more than US$700 million ($950 million), and were allegedly misappropriated from 1MDB. With the recovery of these assets, the civil forfeiture cases brought against Low come to a close, three years after the DOJ made a claim for the assets.

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Jho Low reaches settlement with US DoJ, to forfeit US assets worth US$670 mil

SINGAPORE (Oct 30): Low Taek Jho, the alleged mastermind behind the 1MDB saga, has reached a settlement with the US Department of Justice in respect of the civil forfeiture proceedings brought against him, The Edge Singapore understands.

Under terms of the settlement, Jho Low, as he is more popularly known, is willing to have all his assets in the US forfeited. The assets are valued conservatively at US$670 million ($913 million).

Briefs

SINGAPORE (Oct 28): “Closing the gaps requires both jobseekers and employers to be more open and flexible.”Singapore’s Manpower Minister Josephine Teo, on the widening mismatch between job seekers and openings available

Japan, South Korea agree to ease long-standing feud

Japanese Prime Minister Shinzo Abe and South Korean Prime Minister Lee Nak-yon have agreed that they must work to ease the feud between their countries that has spilled over into trade and security.

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Malaysia could settle for fraction of US$7.5 bil demanded from Goldman Sachs for role in 1MDB, sources say

(Oct 23): Again and again, Malaysia has publicly demanded Goldman Sachs pay an eye-popping US$7.5 billion ($10.2 billion) for its role in the 1MDB scandal. But privately, Malaysian negotiators are considering settling for a fraction of that.

Malaysia seeks 1MDB funds from Najib's brother, ex-minister

(Oct 7): Malaysia is asking the brother of ex-premier Najib Razak and former cabinet ministers to return funds believed to have come from 1MDB or risk being prosecuted.

The Malaysian Anti-Corruption Commission is seeking about 420 million ringgit ($138 million) from 80 individuals and entities, including Nazir Razak, former chairman at CIMB Group Holdings and brother to Najib, Chief Latheefa Koya said in Putrajaya on Monday.

Goldman Sachs wants 1MDB money returned to Malaysians

SINGAPORE (Sept 30): Amid what has turned out to be a week of explosive revelations from a former CEO of the troubled 1Malaysia Development Berhad (1MDB), investment bank Goldman Sachs Group now wants to make amends for its role in the scandal that saw RM2.6 billion siphoned out of Malaysia’s public coffers.

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