MACC nabs five over alleged misappropriation of RM104mil in investment funds

PUTRAJAYA: Four company directors were among five arrested by the Malaysian Anti-Corruption Commission (MACC), in connection with a suspected fraud case totalling RM104mil involving public investment funds. According to a source, the individuals - four men and one woman between the ages of 50 and 60 years old - were detained at around 7pm Tuesday (Jan...

Dr Wee questions EPF’s handling of MAHB shares

PETALING JAYA: An investigation must be conducted into the Employees Provident Fund (EPF) selling its Malaysia Airport Holdings Berhad (MAHB) shares at a lower price and repurchasing them at a premium in a short period, says Datuk Seri Dr Wee Ka Siong. The MCA president said records show that EPF's equity holdings in MAHB in November...

Manager duped of RM1.6mil in crypto scam

SHAH ALAM: A manager of a private company in Ampang Jaya lost more than RM1.6 million after falling for a non-existent crypto investment online. Selangor police chief Datuk Hussein Omar Khan, in a statement on Tuesday (Jan 14), said the 61-year-old male complainant was attracted to a cryptocurrency investment advertised on Facebook and made a phone...

JS-SEZ implementation stage begins with joint meeting on Jan 15

JOHOR BARU: Members of the Johor government will meet their Singapore counterparts on Wednesday (Jan 15) to discuss the implementation of the Johor-Singapore Special Economic Zone (JS-SEZ). State investment, trade, consumer affairs and human resources committee chairman Lee Ting Han (pic, below) said the scheduled meeting comes about a week after the JS-SEZ agreement was signed...

Govt approval rating up slightly this year at 51%, survey finds

PETALING JAYA: The Madani government has seen a slight improvement in voter ratings as its second administrative year comes to a close. According to findings of a Merdeka Centre survey released on Monday (Dec 23), 54% of voters polled gave the Prime Minister a positive rating, up from 50% last year. The overall rating for the Federal...

Plantation manager loses over RM200,000 to investment scam

KUALA TERENGGANU: A plantation manager lost RM205,983 after falling victim to a non-existent investment scheme. Acting Kemaman police chief DSP Wan Muhamad Wan Ja'afar said that the 56-year-old male victim had invested in the Goldencrimson scheme, which was advertised on social media. The victim, drawn in by the promise of high returns, made 12 transactions, to eight...

Malaysia urges Chinese firms to avoid using it to dodge US tariffs

KUALA LUMPUR: Malaysia has urged Chinese companies to refrain from using it as a base to "rebadge" products to avoid US tariffs, its Investment, Trade and Industry Deputy Minister Liew Chin Tong (pic) said on Monday, amid increasing export restrictions and concerns of a US-China trade war. Washington is expected to further curb exports to Chinese semiconductor toolmakers...

FashionValet showed potential at the time, says Amir Hamzah

KUALA LUMPUR: FashionValet Sdn Bhd was seen as a company with potential in the e-commerce space when Khazanah Nasional Bhd made its investment, says Finance Minister II Datuk Seri Amir Hamzah Azizan. "The digital economy was an important core for Malaysia's development, right from the time of the Multimedia Super Corridor with emphasis on the development...

FashionValet showed potential at the time, says Amir Hamzah

KUALA LUMPUR: FashionValet Sdn Bhd was seen as a company with potential in the e-commerce space when Khazanah Nasional Bhd made its investment, says Finance Minister II Datuk Seri Amir Hamzah Azizan. "The digital economy was an important core for Malaysia's development, right from the time of the Multimedia Super Corridor with emphasis on the development...

Construction site supervisor loses over RM100,000 to non-existent investment scam

KUALA TERENGGANU: A construction site supervisor has fallen victim to an investment scam, losing RM118,800 after being lured into a non-existent scheme through the "ATS Pro" application. Kuala Terengganu OCPD Asst Comm Azli Mohd Noor said the 39-year-old victim came across the application when an unknown individual added it to a WhatsApp group on April 21. Intrigued...