Malaysia’s finance minister on Friday said there are no talks with Goldman Sachs on the recovery of billions of dollars of state funds lost via the US bank’s former client 1Malaysia Development Bhd (1MDB), local media reported.Malaysia filed criminal charges last year against Goldman Sachs over its role as underwriter and arranger of three bond sales that raised US$6.5 billion for the now-defunct state investment fund.1MDB scandal: Malaysia seeks to move Goldman case to higher courtThe US…
Runway ‘billionaire’ groom leaves Thai bride with massive wedding debt
A Thai woman is picking up the pieces after her “billionaire” groom ran off soon after their lavish wedding reception in May, leaving her with massive debt.Local media reported that the 30-year-old woman, only identified as Da, met the 50-year-old man in March and he proposed to her the next day. He gave his name as Nat and said he was a wealthy CEO who had business dealings in Hong Kong. She worked as a product presenter.The couple registered the marriage the next month and sent out…
Cambodian judge orders new investigation into journalists from US-backed radio station accused of spying
A court in Cambodia on Thursday ordered a new investigation and postponed a verdict in the espionage trial of two journalists who had worked for a US government-backed radio station.Uon Chhin and Yeang Sothearin were arrested in November 2017 during a crackdown on opponents of Prime Minister Hun Sen’s government. They were charged with undermining national security by supplying information to a foreign state, an act punishable by up to 15 years’ imprisonment.Judge Im Vannak of the Phnom Penh…
Malaysian competition watchdog wants to fine Singapore’s Grab US$20.5 million for abusive practices
Malaysia’s competition regulator on Thursday proposed a fine of over 86 million ringgit (US$20.5 million) on ride-hailing firm Grab for violating the country’s competition law by imposing restrictive clauses on its drivers.The Malaysia Competition Commission (MyCC) ruled that Singapore-based Grab, which has major backing from Japan’s SoftBank Group, had abused its dominant position in the local market by preventing its drivers from promoting and providing advertising services for its…
Indonesia gets star-studded cast of new lawmakers, and first female Parliament speaker
Indonesia’s new Parliament got its first female speaker of the House of Representatives when Puan Maharani, the daughter of the country’s first female president, Megawati Sukarnoputri, was sworn in on Tuesday.The 46-year-old, a member of President Joko Widodo’s cabinet, was unanimously elected in a move seen as symbolic for gender equality in the world’s most populous Muslim nation.“It has an important symbolic value. We will have to see how she handles her position in the months ahead,” said…
Singapore’s controversial ‘fake news’ law comes into effect as election looms
Singapore on Wednesday introduced a law against “fake news” which rights groups warned may stifle free speech and opposition politicians have said could give the government too much power as elections loom.The “Protection from Online Falsehoods and Manipulation Act” was passed in May after just two days of debate in a legislature heavily dominated by the ruling party. The law stipulates any government minister has the prerogative to decide what constitutes a “false statement of fact” and…
Chinese envoy stresses Beijing’s role in Australia’s prosperity amid interference fears
China’s ambassador to Australia has sought to alleviate concerns about allegations of Beijing’s political interference by emphasising the importance of economic and trade ties in underwriting Australia’s long-term prosperity.In an interview published on the front page of The Australian newspaper on Tuesday, the 70th anniversary of China’s founding, Cheng Jingye said Australia’s 28-year run of uninterrupted economic growth and expectations of a budget surplus this year proved Beijing and…
German start-up looks to Singapore to launch electric helicopter ‘air taxi’ rides
German start-up Volocopter said Singapore is emerging as one of the most likely destinations for the commercial launch of its electric helicopters, where it hopes to offer short-hop flights for the price of a limousine ride.The co-founder of the company, which is working with Singapore regulators to conduct a public test flight in coming months, said the city state, Dubai and Germany were the markets most open to its air taxis.A number of firms are trying to bring so-called air taxis to mass…
Malaysian police probe legality of rally in Kuala Lumpur backing Hong Kong protesters
A rally in Malaysia held to show solidarity with anti-government protesters in Hong Kong is being investigated as an illegal gathering.“We will be calling them in under the Peaceful Assembly Act as they did not inform police … We have opened an investigation paper,” confirmed criminal investigation department chief Gunalan Muniandy of Kuala Lumpur’s Dang Wangi police station on Monday.He said officers would be interviewing participants, including the organisers, this week.Student activist…
Grandson of Singapore’s Lee Kuan Yew says online trolls fuelled controversy over judiciary comments
Li Shengwu, the grandson of Singapore’s late independence leader Lee Kuan Yew, has said in a court affidavit that online trolls had sought to cause trouble for his family – already mired in a bitter public dispute – when they circulated comments about the judiciary he had made in a “friends only” Facebook post.“I believe that the person(s) responsible for this were clearly acting maliciously, intending to cause mischief and trouble for me and family,” the Harvard University assistant economics…