5 May 2025

Cops nab another 'Tan Sri' over MBI Ponzi scheme

Police have arrested another individual with the title “Tan Sri” suspected of involvement in the MBI International Group Ponzi scheme investment fraud, marking the latest development in the ongoing investigation.

Bukit Aman's Commercial Crime Investigation Department acting director Hasbullah Ali confirmed the 53-year-old Penang property company chairperson was detained on Thursday and remanded for five days to assist investigations.

"The suspect's office, residence, and relevant documents have been searched for evidence," he told Bernama, adding that further arrests haven't been ruled out as investigations continue, with a press conference to be held soon to provide updates.

The suspect is believed to have acted as a proxy or partner in laundering illicit funds for the syndicate.

This follows the April 18 to 21 “Op Northern Star” that saw five individuals, including another “Tan Sri” and “Datuk Seri”, arrested across the Klang Valley and northern Malaysia.

Authorities have also seized RM223.62 million worth of durian orchards (344ha in Raub, Pahang; 5.26ha in Jawi, Penang; and 13.76ha in Tasek, Kedah), frozen 299 bank accounts (RM123.61 million), and confiscated 12 luxury vehicles, a high-end watch, five mobile phones, and crucial documents.

Additional seizures include a palm oil processing plant in Selama, Kedah, a hotel, and a Penang property development company, bringing total confiscations from both operations to RM3.51 billion.

 

Source : Bernama

MACC urged to investigate new KL Tower concession

Hulu Langat Bersatu information chief Shafiq Halim and several NGOs have urged the MACC to investigate the concession related to the company now overseeing the KL Tower.

During a press conference this afternoon outside the national icon, they held up pictures of LSH Service Master Sdn Bhd (LSHSM) non-executive chairperson Lim Ken Cheng with key government leaders.

Shafiq claimed that the photos were taken before the deal was signed for LSHSM to take over KL Tower.

“We want to ask MACC to investigate the award (of this concession), and we also ask for the minister (in charge) to reveal the five other companies that entered the bid for KL Tower,” he said.

The photos depicted Lim with Prime Minister Anwar Ibrahim, Communications Minister Fahmi Fadzil, Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa, Transport Minister Anthony Loke, as well as DAP veterans Lim Kit Siang and Lim Guan Eng.

The NGOs present today include Negarawati Tanahair, Secretariat for the Empowerment of Bumiputera Strategic Ownership (Sepatra), Sekretariat Gabungan NGO Ikhlas Malaysia, Himpunan Aman Satu Juta Rakyat Malaysia, and the Muslim Consumers’ Association of Malaysia.

Meanwhile, Abdul Hamid Shaikh Abdul Razak Shaikh, the managing director of Hydroshoppe Sdn Bhd - the previous KL Tower operator - told Malaysiakini that his company had nothing to do with the press conference and does not condone it.

Hydroshoppe and its subsidiary, Menara Kuala Lumpur Sdn Bhd (MKLSB), are suing the government for RM1 billion over the alleged wrongful termination of their concession.

‘What’s the link to PKR polls?’

Speaking further on the matter, Shafiq asked why the concession award coincided with PKR’s party polls.

“The concession was signed during the PKR election. So we want to know, why was this done so close to the election? Were there sources of funding and so on?

“So the MACC must investigate and ensure that (if) anyone has committed corruption, they must take the appropriate action,” he said.

He stressed that it was not a matter of race but of integrity.

Pejuang lawyer Rafique Rashid Ali, who was also present, said the new concession deal contradicts Pakatan Harapan’s reform promises before it became part of the government.

“But finally, we have come to the point where we see that those with corporate connections have found their place.

“(This is) despite the government saying before that they will ensure the people are taken care of... but there is still political patronage like this happening in this country,” he added.

‘Wrongful contract termination’

Hydroshoppe and MKLSB are claiming damages from Putrajaya over the alleged wrongful termination of their agreement in November 2022, which included an extension of the company’s concession from 15 years to 30 years.

This followed the government’s decision in May last year to award the tower management concession to LSHSM, a joint-venture vehicle between LSH Best Builders Sdn Bhd and Service Master (M) Sdn Bhd.

MKLSB, previously fully owned by Telekom Malaysia Berhad (TM), had designed and constructed the KL Tower, which was opened to the public in 1996.

It had been the sole operator of KL Tower since under concession contracts from the government, which were renewed every 15 years.

 

Source :  https://www.malaysiakini.com/news/742193