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Reuters filepix for illustration purpose only - A + A KOTA KINABALU (May 18): A senior officer of a state government department and a retiree have been arrested by the Malaysian Anti-Corruption Commission (MACC) for allegedly receiving bribes of about RM700,000 from a palm oil factory. According to a source, the two suspects were arrested at about 11am on Tuesday (May 17) when they went to the Sabah MACC office. They were believed to have solicited the bribes in return for not reporting to the Sabah Finance Ministry over the factory’s falsification of crude palm oil sales declarations. Meanwhile, Sabah MACC director Datuk S Karunanith, when contacted, confirmed the arrest of the two suspects. He also did not rule out the possibility of more arrests to be made in connection with the case. … [Read more...] about Senior govt officer, retiree arrested for receiving RM700,000 bribe

Black box data on crashed China Eastern 737 suggests possible “intentional nosedive” Investigators are now examining further if the crash of China Eastern Airlines 737-800 on March 21 was indeed due to “intentional action on the flight deck”. The early reports say that there is, so far, no evidence of a technical malfunction. The Wall Street Journal reported this week that flight data from one of the two “black boxes” on the Boeing jet indicated that “someone in the cockpit intentionally crashed the plane”. The comments were made by people the WSJ cited as “familiar with the preliminary assessment by US officials”. US National Transportation Safety Board officials have been working with engineers from Boeing and investigators from the Civil Aviation Administration of China since the crash. Boeing, the US manufacturer of the jet, has so far declined to comment on the early leaks and, instead, referred all questions to the Chinese regulators. At this stage, the CAAC, … [Read more...] about Thailand News Today | Crashed China eastern flight possible “intentional nosedive”

On Wednesday, May 11, the Consumer Financial Protection Bureau (CFPB), a federal watchdog agency responsible for consumer protection in the financial services industry, finalized an enforcement action against debt-relief payment processors RAM Payment and Account Management Systems (AMS) as well as AMS’s co-founders, Gregory Winters and Stephen Chaya. The respondents have been accused of illegally collecting debt-relief fees, misleading borrowers about when said fees would be paid to debt-relief companies, sending illegal advance fees to debt-relief companies, and failing to return funds to consumers who cancelled their student loan debt-relief agreements. The CFPB has ordered RAM Payment, AMS, Winters, and Chaya to pay over $11 million in consumer redress and civil money penalties, in addition to banning AMS, Winters, and Chaya from the debt-relief payment processing and account maintenance industry. Key Takeaways The Consumer Financial Protection Bureau (CFPB) has … [Read more...] about CFPB Orders Debt-Relief Payment Processors to Pay Over $11 Total Million Penalty

Datuk Seri Tajuddin Abdul Rahman (The Edge filepix) - A + A PUTRAJAYA (May 18): Pasir Salak MP Datuk Seri Tajuddin Abdul Rahman’s appointment as Malaysian Ambassador to Indonesia has been agreed upon by Indonesian President Joko Widodo (Jokowi), Prime Minister Datuk Seri Ismail Sabri Yaakob said. Ismail Sabri said he was made to understand that Tajuddin had received a letter from the Indonesian president over the appointment. “We have agreed to appoint (Tajuddin as ambassador) and Indonesia has also agreed to it,” he told reporters when met after the Prime Minister’s Department’s Aidilfitri event here on Wednesday (May 18). “He (Tajuddin) is a seasoned and experienced politician. Let’s wait till he commences duty (as Ambassador),” Ismail Sabri added. On Tuesday (May 17), Tajuddin was reported to have confirmed his appointment as Malaysian Ambassador to Indonesia. The post is currently vacant and was last held by senior diplomat Datuk Zainal Abidin Bakar. … [Read more...] about Tajuddin’s appointment as ambassador agreed upon by Indonesia, says Ismail Sabri

Reuters filepix for illustration purpose only - A + A NEW YORK (May 18): The US is forcing Wall Street banks to embark on a systematic search through more than 100 personal mobile phones carried by top traders and dealmakers in the largest-ever probe into clandestine messaging on platforms such as WhatsApp. The Securities and Exchange Commission has been sending firms lists of key positions — in some cases pointing to around 30 people including heads of certain investment banking teams or trading desks — that are subject to the review, according to people with direct knowledge of the requests. Personnel in those roles are being ordered to hand over phones so devices can be examined by lawyers. The aim is to gauge how pervasively Wall Street professionals use unauthorized messaging platforms to chat with each other or clients as regulators decide which firms to punish, and how hard, for failing to preserve business-related messages sent via unapproved platforms. … [Read more...] about US pries into over 100 trader and banker phones in texting probe

- A + A KUALA LUMPUR (May 18): Three shareholders of troubled lingerie maker Caely Holdings Bhd, who collectively hold at least 10% of the company, have requisite for an extraordinary general meeting (EGM) to discuss various issues, including the removal of its newly-appointed executive chairman Wong Siaw Puie and six other existing directors. In a bourse filing on Wednesday (May 18), Caely said it had on May 17 received a notice of intention from Leong Seng Wui, Kok Kwang Lim and Valhalla Capital Sdn Bhd to call for an EGM on June 15. "The company is seeking legal advice on the above and further announcement will be made on any material development," it added. The notice sought to remove Wong, Beh Hong Shien, Datin Fong Nyok Yoon, Datuk Loh Ming Choon, Datuk Mohamad Hanafiah Zakaria, Datuk Seri Sin Hock Min, Ng Mei Choo and any person appointed as a director of the company from May 16 up to the EGM. At the same time, it is seeking the appointment of Leong Seng … [Read more...] about Three Caely shareholders call for EGM to seek boardroom changes

- A + A KUALA LUMPUR (May 18): Signature International Bhd and its largest shareholder-cum-chairman Datuk Seri Chiau Beng Teik have emerged as the largest shareholders of Fiamma Holdings Bhd after acquiring a combined 29.59% equity interest in Fiamma. The 29.59% stake or 150 million shares, was acquired from Fiamma's chief executive officer and group managing director, Lim Choo Hong, at RM1.50 per share. Following the disposal of shares in Fiamma, Lim ceased to be a substantial shareholder in Fiamma, holding a 0.413% direct equity interest and 0.118% indirect interest in the company. A filing with Bursa Malaysia showed that Signature had entered into a conditional share sale agreement (SSA) with Lim, to acquire 120 million shares or 23.67% equity interest for RM180 million cash. On a separate note, Divine Inventions Sdn Bhd, a private entity controlled by Chiau’s family, entered into an SSA with Lim to purchase 30 million shares or 5.92% equity interest in Fiamma … [Read more...] about Chin Hin founder Chiau Beng Teik and Signature International emerge as Fiamma’s controlling shareholders

- A + A (May 18): A welcome revival in travel and cargo demand helped Singapore Airlines Ltd narrow losses in the second half of the fiscal year through March, though the high price of oil weighed on the carrier, its annual results showed. The airline’s net loss in the October-March period was S$125 million (US$90 million), it said in a statement Wednesday, compared with a loss of S$804 million a year earlier. Sales more than doubled in the six-month period to S$4.79 billion. Singapore started unraveling tight Covid-19 travel restrictions in September, allowing fully-vaccinated people from certain countries to enter without having to quarantine — a boost to the flag carrier, which had suffered record losses in the height of the pandemic. With Singapore further loosening curbs in April, quarantine-free entry is available for inoculated travelers from anywhere. “Key markets around the world have further eased travel restrictions, supporting a strong recovery in … [Read more...] about Singapore Airlines’ second-half loss narrows as travel picks up

Datuk Seri Dr Ahmad Zahid Hamidi (Photo by Zahid Izzani/The Edge filepix) - A + A SHAH ALAM (May 18): A former director of Ultra Kirana Sdn Bhd (UKSB) on Wednesday (May 18) told the High Court here that his company was paying cash in Singapore dollars (SGD) on a monthly basis to former deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi from 2014 to 2018, in relation to the Foreign Visa System (VLN) contract. Harry Lee Vui Khun said the payment to Ahmad Zahid which started with SGD200,000 per month and began in late 2014 was increased to SGD520,000 per month some time in 2017. “If I can recall correctly, the payment of SGD200,000 per month began in late 2014 and continued until mid-2015. Around that time, we went to his (Ahmad Zahid) house in Country Heights, Kajang and in that meeting Datuk Seri Zahid (Ahmad Zahid) requested that the monthly contribution be increased. After discussing with Wan Quoris and David Tan, we agreed to a sum of SGD300,000 per month. … [Read more...] about UKSB director admits giving cash to Ahmad Zahid every month for 4 years

FILE PHOTO: Senator Joel Villanueva thanks colleagues for their help and contribution in perfecting Senate Bill No. 2234, creating the Department of Migrant Workers on Tuesday, December 14, 2021. (A. Calvelo, V. Domingo/Senate PRIB) MANILA, Philippines — Reelected Senator Joel Villanueva said Wednesday that he is open to joining the Senate minority bloc in the incoming 19th Congress. Villanueva said the remark after being asked what his preferred Senate committees are, following the proclamation of the so-called Magic 12 at the Philippine International Convention Center in Pasay City. “When it comes to committees, preferential committees, etcetera, I don’t mind. In fact, I can even say that I’m open to being part of the minority,” he said before the proclamation of the winning candidates in the May 9 senatorial election. In the 18th Congress, Villanueva belonged to the majority bloc. Currently, he is the chairman of the Senate committees on labor, employment, and human … [Read more...] about Villanueva open to join Senate minority bloc