KUALA LUMPUR (Jan 6): Although fugitive businessman Low Taek Jho (Jho Low) was the alleged mastermind behind the transfer of millions of ringgit out of 1Malaysia Development Bhd (1MDB), at the end of the day it was former prime minister Datuk Seri Najib Razak who was the ultimate boss, said former 1MDB CEO Mohd Hazem Abdul Rahman.
Hazem, testifying as a prosecution witness in Najib’s 1MDB-Tanore corruption trial, said this when senior defence counsel Tan Sri Muhammad Shafee Abdullah asked him who was the 1MDB “boss”.
Shafee queried Hazem whether he had raised concerns to Najib during his tenure as CEO from 2013 to 2015 when media reports began to surface about the sovereign wealth fund being in financial trouble.
KUALA LUMPUR (Dec 22): The Federal Land Development Authority (Felda) is eyeing to take FGV Holdings Bhd private after its unconditional takeover offer for the latter s shares.
In a filing with the bourse, Felda said it does not intend to maintain the listing status of FGV on the Main Market of Bursa Malaysia.
However, the delisting of FGV will only go through if Felda and its associates are able to acquire in aggregate 90% or more of FGV s shares in the takeover offer at RM1.30 per share.
On Dec 8, Felda announced that it was planning to launch the takeover offer if it succeeded in acquiring a 6.1% stake held by Retirement Fund Inc (KWAP) and a 7.78% interest held by Urusharta Jamaah Sdn Bhd for RM658 million cash.