A Wall Street Journal (WSJ) report has estimated the Low’s family wealth to be worth US$1.75bil (RM5.76bil).
Based on its deal flows, the firm, which is based in Hong Kong, stands taller than many Malaysian-helmed privately-owned entities. And it has caught the attention of Malaysians and foreigners alike.
Jynwel Capital – in which Jho Low is the chief executive officer, has in the last three years been involved in deals worth more than US$7bil (RM22bil).
Tun Dr Mahathir Mohamad today dismissed Datuk Seri Najib Razak’s responses yesterday to allegations against his administration, saying the prime minister did not answer any of the pressing questions directed at him.
The former prime minister also accused Najib of trying to stall on matters involving strategic investment firm 1 Malaysia Development Bhd (1MDB) until the preliminary report by the Auditor-General (A-G) is released next month.
“I have read it. It doesn’t answer anything,” Dr Mahathir told reporters after the launch of his books.
Dr Mahathir said Najib also sidestepped the issue of the murder of Mongolian Altantuya Shaariibuu by calling it “old news”, despite two former police commandos currently awaiting their death sentence for the killing
Razak Baginda Mazlinda Makhzan close relationship with Najib’s wife Rosmah Mansor
.Abdul Razak Baginda is a free man and he had nothing to do with the murder of Altantuya Shaariibuu on October 19, 2006.If Abdul Razak Baginda did not order the two elite cops to kill her, who did?
Najib can refuse to answer or verify the various short messages (sms) between him and Datuk Shafee Abdullah. Najib can also simply ignore the purported involvement of one of his brothers in sending P.I Balasubramaniam out of the country. Najib can also ignore Deepak Jaikishan’s involvement in helping financing P.I Balasubramaniam staying in exile.
Najib can also not be bothered to explain why the PDRM refused to investigate the two contradicting Statutory Declarations made by the late P.I Balasubramaniam. But of course either one should be true.
Najib can ignore the fact that the immigration record of Altantuya’s entry into the country has been expunged. Najib need not be bothered to explain whether Altantuya was his or Baginda’s mistress.
Najib can also refuse to explain how come the C4 ammunition was used in disposing the corpse. He can forget about what Raja Petra Kamaruddin had written about those present at the murder scene.
Najib can also refuse to comment on the sighting of his aide Musa Safri at the time Altantuya was abducted from the taxi.
”Najib must be held responsible for these scandals,
Tun Dr. Mahathir effort now will be to keep up the momentum
Prime Minister Datuk Seri Najib Razak must be held responsible for his role in two scandals – 1Malaysia Development Berhad (1MDB) and the Scorpene deal – in which billions of ringgit were plundered with no accountability Calls for Malaysia’s sixth Prime Minister to resign, including from retired statesman Tun Dr Mahathir Mohamad, have risen since pilgrim fund Lembaga Tabung Haji confirmed buying land from 1MDB.However, Najib remains adamant that he will not step down, saying he will remain in the job with support from Umno and trust from the people.Sarawak Report has obtained more shocking emails written by the PM’s crony businessman Jho Low in 2011. The emails detail an insider trading conspiracy, in which Low cites the support of “HE Prime Minister of Malaysia” in a scheme to net USD500 million. The conspiracy was hatched in April 2011READ MORE AT SARAWAK REPORT
Najib was well aware of the wheeling and dealing of the chief negotiators, and the elements of the deal agreed by both parties (in Scorpene).The buck stops with Najib on the 1MDB fiasco”Isn’t Jho Low, the man at the centre of the 1MDB controversy, also Najib’s friend and associate? What really Jho Low’s role was in the PetroSaudi deal remains a huge mystery,” she said, referring to one of 1MDB’s deals that recently came under much scrutiny.
These friends and associates also seemed to run the government’s “treasure chest” like it was their own money to be thrown around and siphoned away
the RM42 billion debt raked up by 1MDB in just five years of its operations demonstrated how power play, patronage politics and corruption had taken a toll on the nation, adding that it was unsurprising that the state investment vehicle was not Najib’s first financial scandal.
The Scorpene submarine deal was another multi-billion dollar purchase, reeking of corruption that scandalised the nation The numerous inconsistent answers dished out at Parliament parallels between the controversial deals, including
Najib’s involvement in both.the Scorpene deal was inked in 2002, Najib was defence minister and responsible for the purchase of the submarines“Documents show that Razak Baginda in the Scorpene deal set up two companies specific to the French purchase. The first was Perimekar and the second – Terasasi – was formed to receive illicit funds never meant to be made public.Here his father and he are the controlling directors. While it was reported in Parliament that Perimekar had received close to RM550 million (€114.9 million), for coordination services, Terasasi received amounts of up to €42 million.
Najib’s involvement in both.the Scorpene deal was inked in 2002, Najib was defence minister and responsible for the purchase of the submarines“Documents show that Razak Baginda in the Scorpene deal set up two companies specific to the French purchase. The first was Perimekar and the second – Terasasi – was formed to receive illicit funds never meant to be made public.Here his father and he are the controlling directors. While it was reported in Parliament that Perimekar had received close to RM550 million (€114.9 million), for coordination services, Terasasi received amounts of up to €42 million.
while in the Finance Ministry-owned 1MDB, Najib, Finance Minister is also Chairman of its Board of Advisors.
the fact that Najib “handpicked” his closest friends and associates to head the mega deals, with Abdul Razak Baginda for Scorpene and Low Taek Jho for 1MDB.This was similar to 1MDB’s dealings, where reports showed that RM700 million of the RM1 billion investment money from 1MDB was eventually siphoned off into a Swiss Bank account called Goldstar Ltd, owned and controlled by Low.
The involvement of Tan Sri Lodin Wak Kamaruddin in both scandals. Lodin, she said, was a director of Perimekar, the go-between company involved in the submarine purchase until 2010. He oversaw the transfer of money amounting to €114.9 million into Perimekar’s account. Perimekar’s only client was the Malaysian government.Lodin incidentally is also on the board of directors and chairman of 1MDB. He is also the chief executive of the Lembaga Tabung Angkatan Tentera (LTAT), a fund for military pensioners. The LTAT owned 20% of Perimekar, hence the use of public funds was involved in the purchase of the submarines,” parallels here with how Najib directs funds contributed by tax payers with so much ease in business investments, with no clear oversight mechanisms, and no care for accountability and transparency. The LTAT, Lembaga Tabung Haji and the Pensioners Fund (KWAP) have all been thrown into controversy Najib had to be held accountable for these scandals and called for his immediate resignation as Finance Minister.
“Too much money has been plundered with zero accountability at the expense of ordinary Malaysians. His empty chest beating and pledges to combat corruption and promote people-centred governance ring hollow.the chorus of concerned voices and demands that he relinquish his finance minister portfolio with immediate effect, to save Malaysia from further catastrophe,
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