Praveen's Feed
Nov 3, 2015

Interview: Malaysia’s image needs restoring, says PM’s brother

KUALA LUMPUR (Reuters) – Nazir Razak, the chairman of Malaysian bank CIMB said political uncertainty facing the government led by his elder brother is the biggest concern for foreign investors looking at the once-stable Southeast Asian country.

Speaking to Reuters on Saturday at a country club on the outskirts of Kuala Lumpur, where his bank was hosting a golf tournament, 48-year-old Nazir said the “central issue for Malaysia” was restoring its reputation for political stability.

Nov 3, 2015

Malaysia’s image needs restoring, says PM’s brother

KUALA LUMPUR (Reuters) – Nazir Razak, the chairman of Malaysian bank CIMB said political uncertainty facing the government led by his elder brother is the biggest concern for foreign investors looking at the once-stable Southeast Asian country.

Speaking to Reuters on Saturday at a country club on the outskirts of Kuala Lumpur, where his bank was hosting a golf tournament, 48-year-old Nazir said the “central issue for Malaysia” was restoring its reputation for political stability.

Oct 22, 2015

Malaysia’s Mahathir says little chance of ousting PM Najib

KUALA LUMPUR (Reuters) – Malaysia’s former premier Mahathir Mohamad conceded on Thursday that the chances of unseating Prime Minister Najib Razak before elections in 2018 are slim, despite his rallying cries for a “people’s power” movement to topple the country’s leader.

The 90-year-old statesman, who led Malaysia for 22 years, has called on Najib to step down following allegations of corruption and mismanagement at state-owned fund 1Malaysia Development Berhad (1MDB).

Oct 19, 2015

Malaysia’s Najib faces budget test amid oil slump and graft scandal

KUALA LUMPUR (Reuters) – Dogged by scandal and hampered by falling oil and gas revenues, Malaysia’s Prime Minister Najib Razak will present a budget on Friday that will look to shore up economic growth and appease voters unhappy with his leadership and rising living costs.

It is unlikely to alter investors’ disillusion with Najib’s Malaysia, reflected by the ringgit currency’s 20 percent drop since the start of the year to levels unseen since the Asian financial crisis in the late 1990s.

Oct 14, 2015

Malaysia’s embattled PM facing stern test as parliament returns

KUALA LUMPUR (Reuters) – Malaysia’s Prime Minister Najib Razak faces the toughest test of his political career so far when parliament reconvenes next week, with the leader facing questions from a growing number of establishment figures about his alleged role in a graft scandal at the state investment fund.

Najib’s tight grip on his United Malays National Organisation (UMNO) party has kept him in power despite public anger over alleged graft and financial mismanagement at strategic investment fund 1Malaysia Development Bhd (1MDB), whose advisory board the prime minister chairs.

Oct 13, 2015

Malaysia’s Tenaga seen as top contender in 1MDB power assets sale

KUALA LUMPUR, Oct 13 (Reuters) – Malaysian utility
heavyweight Tenaga is inching towards a multi-billion
dollar purchase of energy assets from 1MDB after a rival bidder
dropped out, a deal that would bring welcome financial relief to
the scandal-hit state fund.

Hong Kong-listed CGN Meiya Power Holidings Co, the only firm
beyond Tenaga to have openly expressed an interest for some 1MDB
assets, said in regulatory filings on Friday it was no longer
considering the transaction.

Oct 9, 2015

Malaysian central bank urged criminal prosecution of state fund 1MDB

KUALA LUMPUR, Oct 9 (Reuters) – Malaysia’s central bank said
on Friday it had urged the country’s attorney general to begin
criminal prosecution of troubled fund 1MDB after completing its
investigation, piling more pressure on Prime Minister Najib
Razak who chairs the fund’s advisory board.

At the centre of a political crisis over its debt of nearly
42 billion ringgit ($11.5 billion) and alleged financial graft,
1MDB is the subject of several probes by different authorities,
including Malaysia’s central bank.

Sep 8, 2015

Malaysia’s Tenaga among four shortlisted for 1MDB power unit sale -sources

KUALA LUMPUR, Sept 8 (Reuters) – Malaysia’s national utility
Tenaga Nasional Bhd is one of four suitors shortlisted
for the final round of bidding in state fund 1MBD’s
sale of its power unit Edra Global Energy Bhd, banking sources
said.

The troubled fund said on Monday it has compiled a shortlist
for Edra – valued by bankers at around 10 billion ringgit ($2.3
billion) – but it did not identify the four parties.

Sep 2, 2015

Malaysia police to question ex-PM Mahathir on anti-government comment

KUALA LUMPUR (Reuters) – Malaysian police want to question former premier Mahathir Mohamad about anti-government comments, a spokeswoman said on Wednesday, in what appeared to be a bid to stifle the veteran leader’s campaign to bring down the prime minister.

Mahathir, still a hugely respected and influential figure, made surprise appearances at a protest in Kuala Lumpur on the weekend, calling for a “people’s power” movement to topple Prime Minister Najib Razak over a financial scandal.

Aug 7, 2015

Malaysia officials visit Goldman office as part of 1MDB probe – sources

KUALA LUMPUR/SINGAPORE, Aug 7 (Reuters) – Malaysian
anti-corruption officials investigating state investor 1MDB for
alleged graft visited the local office of Goldman Sachs
last month seeking documents relating to the state firm, two
people familiar with the visit said.

The scandal engulfing indebted 1MDB has triggered a
political crisis for Prime Minister Najib Razak, who oversees
the fund, and has contributed to the ringgit’s fall to a 17-year
low against the U.S. dollar.