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1MBD
1Malaysia Development Berhad (1MDB; ) is an insolvent Malaysian strategic development company, wholly owned by the Minister of Finance (Incorporated). 1MDB was established to drive strategic initiatives for long-term economic development for the country by forging global partnerships and promoting foreign direct investment. ''Berhad'' is a Malay term indicating a public limited company. 1MDB focuses on strategic development projects in the areas of energy, real estate, tourism and agribusiness. 1MDB was involved in several high-profile projects such as the Tun Razak Exchange, Tun Razak Exchange's sister project Bandar Malaysia, and the acquisition of three independent power producers. Since 2015, the company has been under heavy scrutiny for its suspicious money transactions and evidence pointing to money laundering, fraud, and theft. A lawsuit filed by United States Department of Justice (DOJ), alleged that at least US$3.5 billion has been stolen from Malaysia's 1MDB ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tun Razak Exchange
The Tun Razak Exchange, otherwise known as TRX (previously known as Kuala Lumpur International Financial District or KLIFD)'','' is a 70-acre development by 1Malaysia Development Berhad (1MDB) in the heart of Kuala Lumpur for international finance and business. The development was named after the second Prime Minister of Malaysia, Tun Abdul Razak Hussein, due to its location along Jalan Tun Razak. TRX is a strategic enabler of the Malaysian government's Economic Transformation Programme (ETP). The master plan includes a total of 26 buildings and over 21 million ft2 of Gross Floor Area (GFA) spread across the office, residential, hotel, retail, F&B and cultural offerings. The project has a development period of 15 years to be completed in phases with the initial Phase 1 slated for completion in 2017/2018. TRX's landmark building is The Exchange 106, currently the third tallest skyscraper in Malaysia, and was the second tallest upon completion. Developer The master develope ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and dev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1Malaysia Development Berhad Scandal
The 1Malaysia Development Berhad scandal, often referred to as the 1MDB scandal or just 1MDB, describes a corruption, bribery and money laundering conspiracy in which the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the scheme. International in scope, it implicated political, banking and entertainment figures and institutions and led to criminal investigations in several countries. The 1MDB scandal has been described as "one of the world's greatest financial scandals" and declared by the United States Department of Justice as the "largest kleptocracy case to date" in 2016. In 2015, a document leak reported in ''The Edge'', ''Sarawak Report'', and '' The Wall Street Journal'' showed that Malaysia's then-Prime Minister Najib Razak had channeled over RM (approximately US$) into his personal bank accounts from 1MDB, a government-run strategic development company. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1Malaysia
1Malaysia (pronounced ''One Malaysia'' in English and ''Satu Malaysia'' in Malay) is a programme designed by Malaysian 6th Prime Minister Najib Tun Razak in summer 2009 with the stated goal of promoting ethnic harmony, national unity, and efficient governance. National campaign 1Malaysia is a concept introduced by former Prime Minister Najib Tun Razak to promote national unity. According to Razak, the eight values of the concept are high performance culture, accuracy, knowledge, innovation, integrity, strong will, loyalty and wisdom. Logo and slogan An official logo and slogan has been introduced along with the launch of 1Malaysia concept. The logo is the symbol of '1' which incorporates the national Jalur Gemilang flag and the word Malaysia. The government has spent RM38 million to promote former Prime Minister Najib Abdul Razak's 1Malaysia concept in 2010, said Deputy Minister in the Prime Minister's Department T Murugiah. Slogan Public policy Improving ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Banking In Malaysia
Islamic banking in Malaysia began in September 1963 when Perbadanan Wang Simpanan Bakal-Bakal Haji (PWSBH) was established. PWSBH was set up as an institution for Muslims to save for their Hajj (pilgrimage to Mecca) expenses. In 1969, PWSBH merged with Pejabat Urusan Haji to form Lembaga Urusan dan Tabung Haji (now known as Lembaga Tabung Haji). The first Islamic bank in Malaysia was established in 1983. In 1993, commercial banks, merchant banks and finance companies were allowed to offer Islamic banking products and services under the Islamic Banking Scheme (IBS). These institutions however, are required to separate the funds and activities of Islamic banking transactions from that of the conventional banking business to ensure that there would not be any co-mingling of funds. The list of banks in Malaysia offering Islamic products (updated in 2015) have grown to 16 banks. Apart from banks, other non-banks intermediaries offering syariah based products are Malaysia Building Soci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
AmBank
AmBank Group comprises AMMB Holdings Berhad (AMBANK 1015) is one of the largest banking groups in Malaysia whose core businesses are retail banking, wholesale banking, Islamic banking, and life and general insurance. The Group trades under a number of brands, including AmBank, AmInvestment Bank, AmInvest, AmBank Islamic, AmGeneral Insurance and AmMetLife. AmBank, its key brand, covers its retail and wholesale banking businesses and is supported by a network of 175 branches and 766 ATM machines in Malaysia (as stated on its website). AmBank Group was founded in 1975 as Persian - Malaysian Development Bank by Hussain Najadi, the Founder. Tan Sri Azman Hashim, the current group chairman, has an interest of 14.01% in AMMB Holdings as at 30 June 2014. The single largest shareholder in AMMB Holdings is Australia's ANZ Group with a stake of 23.78% as at 30 June 2014.AMMB Holdings Berhad "Annual Report 2014" In 2006, Amcorp's interest in AMMB was reduced to 18.8% from 32.9% aft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terengganu
Terengganu (; Terengganu Malay: ''Tranung'', Jawi: ), formerly spelled Trengganu or Tringganu, is a sultanate and constitutive state of federal Malaysia. The state is also known by its Arabic honorific, ''Dāru l- Īmān'' ("Abode of Faith"). The coastal city of Kuala Terengganu, which stands at the mouth of the broad Terengganu River, is both the state and royal capital as well as the largest city in Terengganu. There are many islands located close to the coast of Terengganu state, such as Perhentian Islands and Redang Island. Etymology There are several theories on the origin of the name "Terengganu". One theory attributes the name's origin to ''terang ganu'', Malay for 'bright rainbow'. Another story, said to have been originally narrated by the ninth Sultan of Terengganu, Baginda Omar, tells of a party of hunters from Pahang roving and hunting in the area of what is now southern Terengganu. One of the hunters spotted a big animal fang lying on the ground. A fellow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Fund
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for the purposes of investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ahmad Said (politician)
Ahmad Said (born 15 February 1957) is a Malaysian politician who served as the 13th Menteri Besar of Terengganu from March 2008 to May 2014 and Member of the Terengganu State Executive Council (EXCO) from 1995 to his promotion to the Menteri Besarship in March 2008. He has served as State Leader of the Opposition of Terengganu since March 2019 and Member of the Terengganu State Legislative Assembly (MLA) for Kijal from October 1990 to November 1999 and again since March 2004. He is a member of the United Malays National Organisation (UMNO), a component party of the ruling Barisan Nasional (BN) coalition. He is also the State Chairman of BN and UMNO of Terengganu and Division Chief of UMNO of Kemaman. Profile Ahmad Said is a political science graduate from Universiti Sains Malaysia and was elected as an assemblyman in 1990. He has eight children with two women. His two wives live one kilometre apart. Menteri Besar of Terengganu Following the 2008 Malaysian general election ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Menteris Besar Of Terengganu
The Menteri Besar of Terengganu or First Minister of Terengganu is the head of government in the Malaysian state of Terengganu. According to convention, the Menteri Besar is the leader of the majority party or largest coalition party of the Terengganu State Legislative Assembly. The 14th and current Menteri Besar of Terengganu is Ahmad Samsuri Mokhtar, who took office on 10 May 2018. Appointment According to the state constitution, the Sultan of Terengganu shall first appoint the Menteri Besar to preside over the Executive Council and requires such Menteri Besar to be a member of the Legislative Assembly who in his judgment is likely to command the confidence of the majority of the members of the Assembly, must be an ethnic Malay who professes the religion of Islam, and must not be a Malaysian citizen by naturalisation or by registration. The Sultan on the Menteri Besar's advice shall appoint not more than ten nor less than four members from among the members of the Legislative ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Straits Times
''The Straits Times'' is an English-language daily broadsheet newspaper based in Singapore and currently owned by SPH Media Trust (previously Singapore Press Holdings). ''The Sunday Times'' is its Sunday edition. The newspaper was established on 15 July 1845 as ''The Straits Times and Singapore Journal of Commerce''. ''The Straits Times'' is considered a newspaper of record for Singapore. The print and digital editions of ''The Straits Times'' and ''The Sunday Times'' have a daily average circulation of 364,134 and 364,849 respectively in 2017, as audited by Audit Bureau of Circulations Singapore. Myanmar and Brunei editions are published, with newsprint circulations of 5,000 and 2,500 respectively. History The original conception for ''The Straits Times'' has been debated by historians of Singapore. Prior to 1845, the only English-language newspaper in Singapore was ''The'' ''Singapore Free Press'', founded by William Napier in 1835. Marterus Thaddeus Apcar, an Armenian m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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