• 1MDB to be ‘wound down’, Abu Dhabi firms to help cut extra RM16b in debt

    — Reuters picKUALA LUMPUR, May 29 — The deal with International Petroleum Investment Company (IPIC) and its Aabar Investments unit could remove another RM16 billion in debt from 1 Malaysia Development Bhd (1MDB) that will be wound down, according to national news agency Bernama. In its report, Bernama asserted that the two Abu Dhabi firms that will extend a US$1 billion payment to 1MDB next month could take on more of the firm’s debts via additional deals in coming weeks. It further added that 1MDB will be wound down by next year and its operations transferred to three separate firms. “[The] deal reached with Abu Dhabi-based IPIC and Aabar will help reduce the debt by RM16 billion and in exchange, 1MDB will provide IPIC and Aabar with a number of financial assets, including units that are held in the company’s BSI Singapore account,” Bernama reported.

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  • Bicycle allowance among culprits in MAS financial drain, says new boss - The Malaysian Insider

    – Reuters file pic, May 29, 2015.Some 180 types of allowances paid out by Malaysia Airlines, including a monthly bicycle allowance to one employee, contributed to its financial drain, The Star reported today. It quoted MAS chief executive officer Christoph Mueller as saying that huge overtime claims, over-priced contracts and salaries also added to the airline's costs. But Mueller said that this phenomenon was also prevalent in many airlines.

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  • Is Jho Low back in town?

    — File picKUALA LUMPUR, May 29 — Flamboyant and controversial businessman Low Taek Jho is believed to have returned to Kuala Lumpur via a Cathay Pacific flight from Hong Kong yesterday evening, according to news portal The Ant Daily. According to the report, the tycoon called Jho Low took the CX729 flight that landed at Kuala Lumpur International Airport at 7.43 pm yesterday, before he was whisked away by a tall ethnic Indian man. Low’s return came amid a tumultuous time for strategic fund 1 Malaysia Development Bhd (1MDB), which has been repeatedly linked to him. Responding to the PAC saying it will not yet summon Low for its investigation, Umno Youth chief Khairy Jamaluddin insisted there was too much speculation about the former’s involvement with 1MDB to be ignored.

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  • Shahrir defends meeting 1MDB’s Arul, says it is to understand issues - The Malaysian Insider

    – May 29, 2015.Barisan Nasional Backbenchers Club (BNBBC) chief Tan Sri Shahrir Samad said today he met with 1Malaysia Development Berhad (1MDB)'s president Arul Kanda Kandasamy and that the meeting was for him to understand in depth the issues faced by the debt-laden firm. According to a report by portal BNBBC.my, the Johor Baru MP said as a Barisan Nasional federal lawmaker and president of the club, he had to understand all important issues in a comprehensive manner and this does not solely include 1MDB only. "It means the support and stand of BN parliamentarians are based on fact and correct information, and it is not merely on loyalty towards party," he was quoted as saying about the meeting. Shahrir said BNBBC also from time to time, gets briefings from all quarters on issues that are of public interest.

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  • Arul Kanda explains why he could meet Shahrir but not PAC - The Malaysian Insider

    – May 29, 2015.Under fire for not turning up at a scheduled inquiry by the Public Accounts Committee (PAC) on Tuesday, 1Malaysia Development Bhd (1MDB) president and group executive director Arul Kanda Kandasamy insisted he was abroad at the time. He also confirmed that he met Barisan Nasional Backbenchers Club (BNBBC) president, Tan Sri Shahrir Samad the following night in Kuala Lumpur, but said this was only after he returned to Malaysia.

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  • Renovation of terrace houses not in harmony, say Bangsar Baru folk - Community | The Star Online

    VARIOUS terrace house renovations around the Bangsar Baru area have caused many raised eyebrows among the community who are worried about its safety, legality as well as its jarring design that does not fit in with the rest of the neighbourhood. Earlier this month, the matter was raised in a resident dialogue with Kuala Lumpur City Hall (DBKL) by Bangsar Baru Residents Association (BBRA) past president Chang Kek Wei. “There are quite a number of renovations going on in the area. “The problem is that these homes are rebuilt into much larger homes, a storey higher than its immediate neighbours, and the facade is such that it does not look in harmony with the other houses” he said.

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  • 1MDB gets US$1 billion payment from IPIC

    KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has entered into a binding agreement with the International Petroleum Investment Company (IPIC) and its unit, Aabar Investments (Aabar), involving a payment of US$1 billion which will be used to repay loans. “While options are being pursued with respect to the monetisation of Edra Energy, the Ministry of Finance will remain a key shareholder in TRX and Bandar Malaysia, which will raise equity via third party investors.

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  • MAS union warns of possible protest by retrenched staff

    — Picture by Saw Siow FengKUALA LUMPUR, May 29 — A union representing Malaysia Airlines (MAS) employees who may find themselves jobless next week has sought legal recourse and may resort to staging a protest due to the “unjustifiable” terminations. According to local daily New Straits Times, the National Union of Flight Attendants Malaysia (Nufam) is currently in talks with legal experts on the lawfulness of MAS firing 8,000 of its 20,000 employees, adding that it will protest the unjustified termination if necessary. “What happens to those who do not agree to the retrenchment conditions or those who do not sign the rehiring offer letters? “We are also looking to proceed on grounds of unjustifiable dismissal and we may stage a protest against the terminations,” Nufam president Ismail Nasaruddin was quoted saying.

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  • Why do Malaysians hate migrants? - The Malaysian Insider

    Why do Malaysians hate migrants? When a racial riot broke out in southern Italy sometime in early 2010, the mindless attacks on African immigrants prompted Pope Benedict XVI to respond by reminding people that, "an immigrant is a human being, different in background, culture and tradition, but a person to be respected, and possessing rights and duties". Malaysians tend to get emotional when such issues arise and share the same concerns with the rest of the world when it comes down to how we feel about migrants. Whether you want to believe or not, Malaysia is one of those countries made up of migrants.

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  • Scientists find the mystery behind the holes in Swiss cheese

    After about a century of research, Swiss scientists have finally cracked the mystery of the holes in Swiss cheese. Experts from Agroscope, a state centre for agricultural research, said the phenomenon — which marks famous Swiss cheeses such as Emmental and Appenzell — was caused by tiny bits of hay present in the milk and not bacteria as previously thought. They found that the mystery holes in such cheeses became smaller or disappeared when milk used for cheese making was extracted using modern methods. “It’s the disappearance of the traditional bucket” used during milking that caused the difference, said Agroscope spokesman Regis Nyffeler, adding that bits of hay fell into it and then eventually caused the holes.

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  • Pahang assemblymen get RM6,900 pay rise - The Malaysian Insider

    The Pahang State Assembly has passed the Members of the AdministrPahang Menteri Besar Datuk Seri Adnan Yaakob had moved the motion to increase the salaries of all state assemblymen as the last hike was done more than 30 years ago. The motion was tabled by Menteri Besar Datuk Seri Adnan Yaakob (BN-Pelangai) and was seconded by Datuk Dr Ahmad Shukri Ismail (BN-Pulau Tawar). "With the increased pay, assemblymen will be able to better serve the people," he said. The sitting also passed a motion to appoint Pahang MCA chairman Datuk Hoh Khai Mun and Kuala Krau Umno Wanita chief Norahan Abu Bakar as Senators for three years starting today.

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  • Indonesia proposes RM1,200 monthly pay for housemaids - The Malaysian Insider

    Indonesia has submitted a proposal paper to the Human Resources Ministry to consider improving the working conditions of Indonesian maids in Malaysia, including increasing the monthly salary. Indonesia Embassy's deputy chief of mission Hermono said the new proposed wage was RM1,200 per month which is up from the currentRM800 per month.

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  • Court awards damages to former athlete who became paralysed following surgery | theSundaily

    GEORGE TOWN: The Penang High Court today awarded damages of RM639,818.75 to a former national athlete who became paralysed following a failed spinal surgery ten years ago. Judicial Commissioner Datuk Azmi Ariffin in his hour-long judgement, ordered the orthopaedic specialist Dr.

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  • Prudent to ban liquor sales at Chinese medicine shops - The Malaysian Insider

    We welcome the decision by the Petaling District Licensing Council to ban liquor sales at Chinese medicine shops. Liquor as a product should not be mixed with medicine whether Chinese or Indian or Malay or modern medicine. We have nothing against Chinese medicine shops. Poor people of all races go to Chinese medicine shop.

    The Malaysian Insider q
  • No respite yet for Malaysia’s stock market - Business News | The Star Online

    KUALA LUMPUR: The FBM KLCI again slipped into the red early Friday as  investors were disappointed with most of  the corporate results amid  also growing anxiety over the plunge in China markets the previous day. At 9.25am, the KLCI was down 4.58 points or 0.26% to 1,750.98. JF Apex Research said following the negative performance of global markets due to Greece, “we expect the KLCI to remain lacklustre with immediate support at 1,747”. BIMB Securities Research expect the local market to remain bearish due to poor sentiment.

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  • A critique on our education system – Eyda Ebraheem - The Malaysian Insider

    I personally think that the education system applied in Malaysia nowadays is no longer relevant with the purpose of educating the nations. What the students have been practising all this while is the repetition process of studying, perform well, graduate, and get a job. This is because a student’s goal is driven by what has been set by the education system, as to fill in the vacancies in the industrial sector, which eventually give profits to the government. I feel that this process is an act of exploitation of the students.

    The Malaysian Insider q
  • 1MDB guilty until proven innocent, Dr M says

    — Picture by Saw Siow FengKUALA LUMPUR, May 29 — Unless proven innocent, it must be assumed that the management of 1Malaysia Development Berhad (1MDB) had misappropriated the funds invested in Cayman Islands, Tun Dr Mahathir Mohamad said today in his continued tirade against the troubled state investment firm. The former prime minister said although the money had been redeemed and is now parked in a Singapore bank, it has yet to be proven that the funds are in actual tangible form.

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  • Petaling Street ‘stripper’ ordered to check into mental hospital

    — YouTube videograbKUALA LUMPUR, May 29 — The woman who removed her clothing in the centre of the Petaling Street tourist hotspot on April 24, 2015, has been ordered to undergo a month-long psychiatric evaluation, The Star Online reported. Magistrate Nur A’minahtul Mardiah Md Nor today ordered Persana Avril Sollunda to be warded at Hospital Bahagia under section 342 of the Criminal Procedure Code, which allows for those suspected of not being of sound mind to undergo observation and receive psychiatric treatment. If Sollunda fails to turn up at Hospital Bahagia by the end of today, bail will be forfeited and a warrant of arrest will be issued, Star Online quoted the magistrate as saying. After Sollunda has undergone the month-long observation, she will have to produce a psychiatric report from Hospital Bahagia at her next court mention on July 2.

    The Malay Mail Online | Malaysia q
  • Failure to adhere to KPDNKK’s notice, Burger King fined RM40,000

    KUALA LUMPUR: The Burger King franchise restaurant was fined RM40,000 by the Sessions Court here yesterday for failure to produce information on the increased price of goods sold at its premises. J...

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  • Ulama leadership Mat Sabu once promoted in PAS likely to be his undoing - The Malaysian Insider

    – The Malaysian Insider pic by Seth Akmal, May 29, 2015.As PAS heads into crucial elections next month, the concept of “leadership of the ulama” which transformed the party, could ironically be the undoing of many of the leaders who introduced it in the party, including its veteran activist and deputy president, Mohamad Sabu. Speaking at a talk in Universiti Malaya recently, Mohamad, or Mat Sabu as he is fondly known, said the concept which was promoted some 30 years ago by a group of young PAS leaders who visited post-revolution Iran, including himself, was now being used as a platform to go up against the party hierarchy. Mat Sabu said in the past, only scholars with a deep understanding of Islam were called “Tuan Guru”, a Malay term which literally means “master-teacher” and usually reserved for the most esteemed experts and teachers of Islamic theology. “(Late PAS president) Datuk Fadzil Noor himself told others not to refer to him as Tuan Guru.

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