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=MALAYSIA PRESS: News Headlines On Thursday, June 14

KUALA LUMPUR (Jun 14) -- Here’s a roundup of local news:

*Multibillion Ringgit Expose Of Medicine Monopoly Involving Politicians, Senior Officials

Details of high-ranking officials and companies linked to politicians allegedly involved in controlling billions of ringgit worth of medical supply to the government have emerged. In a 12-page document emailed to the Health Minister Dzulkefly Ahmad and forwarded to a few parties including The Star, the document revealed the bid rigging of open tender process, thus enabling the monopoly of medical supply to the Health Ministry. From 2013 to 2016, the total medicine tender awards by the Health Ministry which amounted to RM3.7bil were controlled by six main tendering agents. - The Star

*Jho Low Trail Now In Dubai

The hunt for Low Taek Jho has now shifted to Dubai as the fugitive financier had expressed his keenest, through his lawyers, to meet up with 1MDB investigators. A source said based on what they had gathered from lawyers of the Penang-born businessman, popularly known as Jho Low, he was keen to seek a witness protection in exchange for information into the scandal. The source said there are no dates yet for Malaysian Anti-Corruption Commission officials to meet the lawyers from Kobre & Kim, a New York-based litigation boutique specializing in cross-border investigations and disputes practice, and Low himself in the Gulf emirate. - The Star

*UK To Help Malaysia Recover Assets, Rebuild Finances

The United Kingdom on Wednesday expressed its willingness to help Malaysia recover illegal assets in its country. British High Commissioner to Malaysia Vicki Treadell said this after meeting with Daim Zainuddin, the chairman of the Council of Eminent Persons. She also said that the U.K. would support the Malaysian government in rebuilding its finances. - Channel News Asia

*Malaysia's Top Two Judges Resign Amid Purge Of Top Officials

Malaysia’s two most senior judges have resigned from their posts, as Prime Minister Mahathir Mohamad’s government purges top officials seen close to the previous administration. The list of top officials who have either been removed from or quit their posts has steadily grown over the past month, after Mahathir’s opposition coalition scored a spectacular victory in a May 9 general election. Chief Justice Raus Sharif and Court of Appeal President Zulkefli Ahmad Makinudin will step down from their posts on July 31, according to a statement issued by the chief registrar’s office of the federal court. - Reuters

*Toyota Investing $1 Billion In Asian Ride-Share Firm Grab

Toyota said Wednesday it was investing $1 billion in Asia ride-share company Grab, as the Japanese automaker looks to expand beyond its core business into the "mobility" sector. Grab, which is headquartered in Singapore, is a leading player in the ride-share industry in Asia, and earlier this year agreed to acquire U.S. giant Uber's regional operations. In a statement, Toyota said the deal "is aimed at achieving connectivity for Grab's rental car fleet across Southeast Asia, and at rolling out various connected services throughout the region that utilize vehicle data" stored by Toyota. - Agence France-Presse

*'Battersea Power Station Acquired Through Competitive Bidding'

The acquisition of the Battersea Power Station by Sime Darby Property, SP Setia and the Employees Provident Fund was carried out through a 'competitive tender process' in September 2012. SP Setia and Sime Darby Property in a joint statement said from the perspective of both companies as property developers, the transaction will enable them to continue to reallocate capital to other areas of their development businesses. With that, PNB and the EPF have viewed this as a strategic opportunity to secure ownership of a unique and iconic real estate asset which will be able to deliver sustainable income streams into the future to meet their respective income needs. - New Straits Times

*CVC Capital Confirms Purchase Of Malaysian Snack Producer Munchy

CVC Capital Partners acquired Malaysian snack producer Munchy Food Industries, as the private equity firm deepens its exposure to the fast-growing consumer industry in Southeast Asia. The London-based investment firm’s Asia Fund IV completed the purchase of a 100 percent stake in Munchy Food on June 8, it said in an emailed statement Wednesday, confirming an earlier Bloomberg News report. Before the acquisition, Munchy was 70 percent owned by its founders, with the remainder held by Southeast Asia-focused investment firm TAP Crunch, the statement shows. - Bloomberg News

- By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
- Edited by Glen Nicol Perkinson
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