Jho Low’s whereabouts still unknown, says report

A screenshot of The Wall Street Journal website from earlier this month featuring a story on the state-owned investment fund 1MDB and its links to Jho Low. – July 27, 2015.

Malaysian authorities have yet to be able to locate Low Taek Jho, nearly a month after the Public Accounts Committee (PAC) announced it would summon the business tycoon for questioning as part of its inquiry into 1Malaysia Development Bhd (1MDB).

PAC chairman Datuk Nur Jazlan Mohamed said the bipartisan panel did not know where Low, popularly known as Jho Low, was, adding that it was up to the Finance Ministry to track him down, Malaysiakini reported.

"We don't know where he is. We have to find him first," Nur Jazlan was quoted as saying.

"We have asked the Finance Ministry to find him. If they don't know where he is, how are they going to give him the (summons) letter?"

But the Pulai MP added that even without the letter, Low should have been aware that he was required to testify before the PAC, as it had been highlighted in the news.

Nur Jazlan told Malaysiakini that Low should voluntarily come before the committee, rather than wait for Malaysian authorities to hand him the summons letter.

On July 10, Nur Jazlan said the committee had decided to call Low after hearing more from the auditor-general about investments made by 1MDB, including its deal with PetroSaudi International.

He said Low would be summoned over his role as special adviser to Terengganu Investment Authority, the predecessor of 1MDB.

While he is not on 1MDB's payroll, he has described himself as an unofficial and occasional consultant.

PAC has also summoned directors of Brazen Sky Limited, to appear on September 9 following findings in the auditor-general's interim report on 1MDB.

The state fund had invested RM6.1 billion in Brazen Sky.

It was reported last month that the sum of US$1.103 billion (RM4.1 billion) 1MDB had redeemed from Brazen Sky's fund in Cayman Islands was “not kept in US dollars, but as units” in BSI Bank Ltd in Singapore.

1MDB has come under public scrutiny for its whopping RM42 billion debt racked up in six years of operations. But it has not been able to generate enough to service its debts.

Consequently, the investment fund is currently stepping up efforts to hive off its assets, namely power generation plants and land, to ease its extremely tight cash flow.

It is also under investigation by a task force, and its accounts are being inspected by the auditor-general for review by the PAC.

- TMI