Praveen's Feed
Jul 30, 2015

Malaysia says almost certain debris found off Madagascar is from a Boeing 777

KUALA LUMPUR/PARIS (Reuters) – Malaysia is “almost certain” that plane debris found on Reunion Island in the Indian Ocean is from a Boeing 777, the deputy transport minister said on Thursday, heightening the possibility it could be wreckage from missing Flight MH370.

Malaysia Airlines was operating a Boeing 777 on the ill-fated flight, which vanished without a trace in March last year while en route from Kuala Lumpur to Beijing in one of the biggest mysteries in aviation history. The plane was carrying 239 passengers and crew.

Jul 29, 2015

Malaysian probe into fund scandal stalls after PM sacks deputy

KUALA LUMPUR, July 29 (Reuters) – A Malaysian parliamentary
investigation into a graft scandal at a state investment fund
embroiling Prime Minister Najib Razak has been put on hold as
cracks in the ruling party appeared to widen on Wednesday.

The allegations of extensive graft at the debt-laden fund
are the biggest threat to Najib’s credibility since he took
office in 2009 and could threaten the grip his United Malays
National Organisation (UMNO) has kept on politics since
independence in 1957.

Jul 24, 2015

Malaysia’s home ministry suspends top publications over 1MDB reports

KUALA LUMPUR (Reuters) – The Malaysian government’s crackdown on the media and dissenters widened on Friday, as the home ministry suspended publication of two leading financial newspapers over their reporting of alleged graft at the country’s troubled state investment fund.

The Edge Weekly and The Edge Financial Daily were suspended for three months from July 27, just days after authorities blocked access to a website that has covered the scandal and has been critical of Prime Minister Najib Razak’s government.

Jul 8, 2015

Malaysia’s Najib considers legal action over WSJ report

KUALA LUMPUR (Reuters) – Malaysian Prime Minister Najib Razak has instructed his lawyers to consider action against the Wall Street Journal (WSJ), which reported that investigators probing debt-laden state fund 1MDB had traced nearly $700 million to bank accounts in his name.

Law firm Hafarizam Wan & Aisha Mubarak said in a statement on Wednesday that since last week’s article involved several parties, they were instructed to consider what kind of action to take, “in the event evidence shows a conspiracy against our client”.

Jul 5, 2015

Malaysia’s opposition demands emergency debate on PM after graft allegations

KUALA LUMPUR (Reuters) – Two of Malaysia’s main opposition parties on Sunday demanded an emergency sitting of parliament to discuss Prime Minister Najib Razak’s future as tensions mounted over a report that linked him to probes into alleged corruption involving state fund 1MDB.

A Wall Street Journal (WSJ) report published on Friday said that investigators had traced nearly $700 million to bank accounts they believed belonged to the prime minister.

Jul 4, 2015

No let-up for Malaysia’s PM after state fund graft allegations

KUALA LUMPUR (Reuters) – Malaysian Prime Minister Najib Razak came under fresh pressure on Saturday after statements from colleagues opened up the prospect of further probes into alleged corruption around the debt-laden state fund 1MDB.

The attorney-general said he had received several documents from a task force investigating 1MDB, including some connected to allegations that money was transferred into an account in Najib’s name, and advised it to take further action.

Jul 3, 2015

Malaysia fund slams report $700 million went to PM’s personal account

KUALA LUMPUR (Reuters) – Malaysia’s 1MDB said on Friday it never provided any funds to Prime Minister Najib Razak, responding to a report that close to $700 million was wired into Najib’s personal account from banks, government agencies and companies linked to the state fund.

The Wall Street Journal report, if true, would be the first time that the beleaguered prime minister has been directly linked to accusations of corruption surrounding the troubled fund.

Jun 9, 2015

Malaysian state fund 1MDB may scrap $3 bln power IPO -sources

KUALA LUMPUR, June 9 (Reuters) – Malaysian state investment
fund 1MDB is likely to abort plans for a $3 billion IPO of its
power unit and focus on an outright sale of its energy assets,
three people with direct knowledge of the deal said on Tuesday.

The gloom surrounding the Malaysian economy may limit
appetite for an IPO for Edra Global Energy, which could have
been Southeast Asia’s fifth-biggest, and several foreign firms
have expressed interest in a direct purchase of the assets.

Jun 3, 2015

Malaysian central bank launches formal enquiry into state fund 1MDB

KUALA LUMPUR, June 3 (Reuters) – Malaysia’s central bank
said on Wednesday it has launched a formal enquiry into
loss-making state investment fund 1MDB, and issued a legal
directive for information, to examine whether there had been any
violation of its rules.

1MDB, which owns property and energy assets and whose
advisory board is chaired by Malaysian Prime Minister Najib
Razak, has been dogged with controversy over nearly 42 billion
ringgit ($11.5 billion) in debt and alleged financial
mismanagement.

May 27, 2015

Malaysian police reveal grim secrets of jungle trafficking camps

BUKIT WANG BURMA, Malaysia (Reuters) – Malaysian police forensic teams, digging with hoes and shovels, on Tuesday began pulling out bodies from shallow graves found in abandoned jungle camps where an inter-governmental body said hundreds of victims of human traffickers may be buried.

The Malaysian government said it was investigating whether local forestry officials were involved with the people-smuggling gangs believed responsible for nearly 140 such graves discovered around grim camps along the border with Thailand.