KUALA LUMPUR: Malaysia is seeking to arrest financier Low Taek Jho, believed to be residing abroad, over his involvement in a graft scandal at state fund 1Malaysia Development Berhad (1MDB), Prime Minister Mahathir Mohamad said on Friday.
Low, popularly known as Jho Low, was regarded as close to former premier Najib Razak and his family, and is seen as a central figure in the 1MDB scandal, which is the subject of multi-billion-dollar money laundering investigations underway in Malaysia and around the world.
“We are trying to arrest Jho Low, but he is not in the country, and we don’t have extradition rights in the country where he is staying,” Mahathir told reporters.
He did not say which country Low was in.
The Malaysian Anti-Corruption Commission (MACC) had issued an arrest warrant for Low, as well as Nik Faisal Ariff Kamil, a director of former 1MDB unit SRC International, a source familiar with the matter had earlier told Reuters.
The MACC was also seeking assistance from authorities in countries where Low was believed to be staying, the source said, declining to be identified due to the sensitivity of the matter.
Low advised on investments and negotiated deals for 1MDB, though he never held any official role in the fund.
Warrants were also being prepared for Roger Ng, a former Goldman Sachs Group Inc. banker, and 1MDB’s ex-chief Shahrol Halmi, the source said.
1MDB was founded by Najib in 2009 and is the subject of money-laundering probes in at least six countries, including the United States, Switzerland and Singapore.
The US Department of Justice has alleged that more than $4.5 billion was misappropriated from 1MDB, and about $700 million of that went to Najib’s personal bank accounts.
Najib has denied wrongdoing.
On Thursday, MACC issued a notice for Low and Nik Faisal to contact the commission immediately to help in its investigation. Low, through his lawyers, said he would cooperate.
Empowered by a new government elected last month, the agency has relaunched a probe into why $10.6 million from SRC was transferred into Najib’s bank account.
Anti-graft agents have questioned both Najib and his wife, Rosmah Mansor, following his shock election defeat last month to former mentor-turned-foe Mahathir.
Goldman Sachs had helped 1MDB raise $6.5 billion in three bond sales in 2012 and 2013 to invest in energy projects and real estate to boost the Malaysian economy.
Instead, more than $2.5 billion raised from those bonds was misappropriated and used to buy artwork, luxury properties in New York and London, and to pay off gambling debts in Las Vegas, the US Justice Department has alleged.
Malaysia seeks to arrest financier Jho Low over 1MDB scandal
Malaysia seeks to arrest financier Jho Low over 1MDB scandal
Saudi Arabia, Japan trade rises 38% between 2016 and 2024, minister says
RIYADH: Trade between Saudi Arabia and Japan has increased by 38 percent between 2016 and 2024 to reach SR138 billion ($36 billion), the Kingdom’s investment minister revealed.
Speaking at the Saudi-Japanese Ministerial Investment Forum 2026, Khalid Al-Falih explained that this makes the Asian country the Kingdom’s third-largest trading partner, according to Asharq Bloomberg.
This falls in line with the fact that Saudi Arabia has been a very important country for Japan from the viewpoint of its energy security, having been a stable supplier of crude oil for many years.
It also aligns well with how Japan is fully committed to supporting Vision 2030 by sharing its knowledge and advanced technologies.
“This trade is dominated by the Kingdom's exports of energy products, specifically oil, gas, and their derivatives. We certainly look forward to the Saudi private sector increasing trade with Japan, particularly in high-tech Japanese products,” Al-Falih said.
He added: “As for investment, Japanese investment in the Kingdom is good and strong, but we look forward to raising the level of Japanese investments in the Kingdom. Today, the Kingdom offers promising opportunities for Japanese companies in several fields, including the traditional sector that links the two economies: energy.”
The minister went on to note that additional sectors that both countries can also collaborate in include green and blue hydrogen, investments in advanced industries, health, food security, innovation, entrepreneurship, among others.
During his speech, Al-Falih shed light on how the Kingdom’s pavilion at Expo 2025 in Osaka achieved remarkable success, with the exhibition receiving more than 3 million visitors, reflecting the Japanese public’s interest in Saudi Arabia.
“The pavilion also organized approximately 700 new business events, several each day, including 88 major investment events led by the Ministry of Investment. Today, as we prepare for the upcoming Expo 2030, we look forward to building upon Japan’s achievements,” he said.
The minister added: “During our visit to Japan, we agreed to establish a partnership to transfer the remarkable Japanese experience from Expo Osaka 2025 to Expo Riyadh 2030. I am certain that the Japanese pavilion at Expo Riyadh will rival the Saudi pavilion at Expo Osaka in terms of organization, innovation, and visitor turnout.”
Al-Falih also shed light on how Saudi-Japanese relations celebrated their 70th anniversary last year, and today marks the 71st year of these relations as well as how they have flourished over the decades, moving from one strategic level to an even higher one.
