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Friday, July 24, 2015

MALAYSIA IN UNCHARTERED TERRITORY: As Najib freezes The Edge, Bank Negara hunts for Jho Low's associates

M'SIA IN UNCHARTERED TERRITORY: As Najib freezes The Edge, Bank Negara hunts for Jho Low's associates
KUALA LUMPUR -  Even as Prime Minister Najib Razak clamped down on a local business publication, The Edge, in what critics believe was a move aimed to cover his tracks in the fast unfolding 1MDB corruption scandal, Malaysia's central Bank Negara Malaysia is looking for two individuals to assist them in investigations.
The duo are believed to be close associates of Najib's family friend Jho Low, whom Najib has been accused of acting in concert with to defraud Malaysians of US$1.83 billion through national wealth fund 1MDB and an Arab asset manager PetroSaudi.
Bank Negara (BNM) uploaded a poster Casey Tang Keng Chee, 50 and Jasmine Loo Ai Swan, 42, on its Facebook page seeking information on their whereabouts and they were being investigated under the Exchange Control Act 1953.
"The timing of Bank Negara's announcement it was looking for 2 people known to be close associates of Jho Low and therefore Najib's, may be a signal to the people that the probe against the PM will continue without fear or favor," a political source told Malaysia Chronicle.
"The suspension of The Edge will go down very badly with Malaysians, especially the professionals and the educated. It will damage Malaysia's reputation and futher erode public confidence. We will be known as a cover-up country and all the 4 agencies in the special task force will lose the respect of the people here and overseas,"
Suspension of The Edge will erode public confidence, boost perception of a massive Najib cover-up
BNM is one of the 4 agencies in the special task force formed specially to investigate the 1MDB debacle, including Najib and Jho Low's role in a slew of corruption allegations.
On BNM's wanted list
The Edge group's weekly and daily publications were frozen for 3 months amid dubious claims that its owner Tong Kooi Ong was part of a conspiracy that included the UK-based Sarawak Report to topple Najib.
"It's the classic smoke and fire drill to confuse and delay the special task force probe. If convincing enough, it may frighten the Big Four from their promise to investigate independently and to reveal the truth. It is sheer intimidation by the Najib camp," said the source.
According to The Star, Tang was one of the pioneers of the Terengganu Investment Authority (TIA), which later became 1Malaysia Development Board (1MDB).
He was one of the few who were in the early TIA team together with 1MDB's former managing director Datuk Shahrol Azral Halmi.
Loo is reported to have joined 1MDB in 2011 to replace Tang. Prior to that she was the executive director of the Utama Banking Group Bhd's compliance and legal department, a company that businessman Low Taek Jho and his associates used to own.
She was also a director in Putrajaya Perdana Berhad, a company that UBG took over in 2008.
The Big 4 or '4 Stooges' to critics are Attorney General Gani Patail, BNM chief Zeti Aziz, IGP Khalid Bakar and MACC chief Abu Kassin Mohamad
BNM requested members of the public with information on the two to contact them at 03-26988044 ext 8554/7610 or to lodge a report at the nearest police station.
BNM also stated it was not offering a reward for any information provided on the duo.
- Malaysia Chronicle

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