antagenaiz
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APRIL 14, 2015, 1:30 PM
Look to 1MDB shareholders, not me, says Jho Low
BY KINIBIZ
Jho Low 1MDBBusinessman Low Taek Jho or Jho Low feels it is time the spotlight on controversial state-owned company 1Malaysia Development Bhd (1MDB) be shined on those in charge of it instead of him.
In an interview with Euromoney magazine, Jho Low said the time has come for him to defend himself against critics who continue to link him to troubled 1MDB, an onslaught that is frustrating him.
“I’ve never faced this kind of attack from all directions,” said Jho Low to Euromoney. “It is just crazy, and these UMNO guys are spinmasters, they know all this sort of nonsense.”
The Penang-born tycoon had previously been cast under the spotlight concerning 1MDB’s troubles for his reportedly close relationship to prime minister Najib Abdul Razak’s family.
More recently independent website Sarawak Report alleged Jho Low as being the guiding hand in many of 1MDB’s dealings, unearthing information in a series of exposes including email transcripts involving Jho Low and 1MDB officials.
Reiterating that he neither runs nor controls 1MDB, Jho Low said during the March 6, 2015 interview that the criticism had not asked the question of who ultimately calls the shots at 1MDB.
“All these guys go round and round and round and I say: ‘Guys, it’s very simple, there’s a board, who’s the shareholder?’ Have you ever seen one statement from anyone that talks about the simple governance of a company?” said Jho Low to Euromoney.
At present 1MDB’s senior management is helmed by newly minted president and chief executive officer Arul Kanda Kandasamy, who joined in January this year. The 1MDB board of directors is helmed by chairman Lodin Wok Kamaruddin.
However Jho Low did not explicitly deny his involvement in the formation of 1MDB’s short-lived joint venture with Petrosaudi International in 2009, nor did Euromoney follow-up on the published email transcripts which were leaked after the interview.
Jho Low demonised?
In the interview, Jho Low lamented that his critics had not seemed to ask the question on who is the ultimate decision-maker in 1MDB, touching on the issue of the shareholder’s role.
1MDB’s sole shareholder at present is the Ministry of Finance. Prime Minister Najib Abdul Razak, who is also Finance Minister, chairs the advisory board of 1MDB.
“Are you telling me the prime minister doesn’t make his own decisions? That the ministry, the minister of finance, who is the prime minister – and there are only two to three people in the finance ministry that sign off on shareholder resolutions under law – that none of them…that they just signed without evaluating it?” said Jho Low.
Saying that the assault against him had gotten to a ridiculous point, Jho Low claims that he is being demonised for being young and having made a lot of money rapidly, even suggesting that he is also in the crosshairs as a Chinese Malaysian getting involved in what is seen as the preserve of Malay business elites.
“There are all these guys with their arrows out on me,” said Jho Low. “There seems to be a very, very coordinated attempt to say: ‘This young Chinaman, it’s all his fault, he caused the failure of 1MDB and apparently he advised the prime minister and everything is screwed up now’.”
“Did the people supposed (sic) to be responsible for decision-making (at 1MDB) suddenly decide to absolve all their responsibilities and then create this PR campaign with me as the focus of it?” said Jho Low further.
The businessman added that he does not fear arrests on returning to Malaysia in response to calls for his prosecution, saying instead that his biggest concern is “people fabricating documents”.
’Crazy perception’
Years of silence had created a “crazy perception” when he had “done nothing wrong”, said Jho Low, lamenting that no one in Malaysia is interested in hearing him out.
“Then we try to get out of this perception and they launch a gazillion rounds of attack in a very systematic manner,” said Jho Low to Euromoney.
“There are so many other people who get away with ridiculous billions and billions and billions worth of projects,” said Jho Low further. “But every single time there seems to be a political attack, wow, suddenly Jho is there again.”
In the interview Jho Low remarked on his good relationship with Abu Dhabi, saying they would consequently approach him for potential partnership in many ventures. “In the Malaysian case, we always say no because it’s politically sensitive.”
Jho Low also reiterated that he has no connection to 1MDB, saying to Euromoney that the controversial company had never asked him to advise nor had they paid him a fee to do anything.
“If somebody at 1MDB wants to call me and say: ‘You know, Jho, what’s your view on the Middle East?’ I’ll give them my view on the Middle East,” said Jho Low. “(But) I don’t run 1MDB. I don’t control 1MDB. I don’t decide anything on 1MDB.”
When posed the question on his seemingly good relationship with the prime minister’s wife, Jho Low said the perception stems from his 16-year friendship with the prime minister’s stepson Riza Aziz, a Hollywood filmmaker whom he had known since their English secondary school days.
“I know the stepson well, but I’m not sure I would agree that I am the (prime minister’s) wife’s best friend,” said Jho Low. “At the end of the day, something that was supposed to be a good cause just gets screwed – guess what? – because everyone just wants control of the money.”
“It’s really as simple as that.”
Look to 1MDB shareholders, not me, says Jho Low
BY KINIBIZ
Jho Low 1MDBBusinessman Low Taek Jho or Jho Low feels it is time the spotlight on controversial state-owned company 1Malaysia Development Bhd (1MDB) be shined on those in charge of it instead of him.
In an interview with Euromoney magazine, Jho Low said the time has come for him to defend himself against critics who continue to link him to troubled 1MDB, an onslaught that is frustrating him.
“I’ve never faced this kind of attack from all directions,” said Jho Low to Euromoney. “It is just crazy, and these UMNO guys are spinmasters, they know all this sort of nonsense.”
The Penang-born tycoon had previously been cast under the spotlight concerning 1MDB’s troubles for his reportedly close relationship to prime minister Najib Abdul Razak’s family.
More recently independent website Sarawak Report alleged Jho Low as being the guiding hand in many of 1MDB’s dealings, unearthing information in a series of exposes including email transcripts involving Jho Low and 1MDB officials.
Reiterating that he neither runs nor controls 1MDB, Jho Low said during the March 6, 2015 interview that the criticism had not asked the question of who ultimately calls the shots at 1MDB.
“All these guys go round and round and round and I say: ‘Guys, it’s very simple, there’s a board, who’s the shareholder?’ Have you ever seen one statement from anyone that talks about the simple governance of a company?” said Jho Low to Euromoney.
At present 1MDB’s senior management is helmed by newly minted president and chief executive officer Arul Kanda Kandasamy, who joined in January this year. The 1MDB board of directors is helmed by chairman Lodin Wok Kamaruddin.
However Jho Low did not explicitly deny his involvement in the formation of 1MDB’s short-lived joint venture with Petrosaudi International in 2009, nor did Euromoney follow-up on the published email transcripts which were leaked after the interview.
Jho Low demonised?
In the interview, Jho Low lamented that his critics had not seemed to ask the question on who is the ultimate decision-maker in 1MDB, touching on the issue of the shareholder’s role.
1MDB’s sole shareholder at present is the Ministry of Finance. Prime Minister Najib Abdul Razak, who is also Finance Minister, chairs the advisory board of 1MDB.
“Are you telling me the prime minister doesn’t make his own decisions? That the ministry, the minister of finance, who is the prime minister – and there are only two to three people in the finance ministry that sign off on shareholder resolutions under law – that none of them…that they just signed without evaluating it?” said Jho Low.
Saying that the assault against him had gotten to a ridiculous point, Jho Low claims that he is being demonised for being young and having made a lot of money rapidly, even suggesting that he is also in the crosshairs as a Chinese Malaysian getting involved in what is seen as the preserve of Malay business elites.
“There are all these guys with their arrows out on me,” said Jho Low. “There seems to be a very, very coordinated attempt to say: ‘This young Chinaman, it’s all his fault, he caused the failure of 1MDB and apparently he advised the prime minister and everything is screwed up now’.”
“Did the people supposed (sic) to be responsible for decision-making (at 1MDB) suddenly decide to absolve all their responsibilities and then create this PR campaign with me as the focus of it?” said Jho Low further.
The businessman added that he does not fear arrests on returning to Malaysia in response to calls for his prosecution, saying instead that his biggest concern is “people fabricating documents”.
’Crazy perception’
Years of silence had created a “crazy perception” when he had “done nothing wrong”, said Jho Low, lamenting that no one in Malaysia is interested in hearing him out.
“Then we try to get out of this perception and they launch a gazillion rounds of attack in a very systematic manner,” said Jho Low to Euromoney.
“There are so many other people who get away with ridiculous billions and billions and billions worth of projects,” said Jho Low further. “But every single time there seems to be a political attack, wow, suddenly Jho is there again.”
In the interview Jho Low remarked on his good relationship with Abu Dhabi, saying they would consequently approach him for potential partnership in many ventures. “In the Malaysian case, we always say no because it’s politically sensitive.”
Jho Low also reiterated that he has no connection to 1MDB, saying to Euromoney that the controversial company had never asked him to advise nor had they paid him a fee to do anything.
“If somebody at 1MDB wants to call me and say: ‘You know, Jho, what’s your view on the Middle East?’ I’ll give them my view on the Middle East,” said Jho Low. “(But) I don’t run 1MDB. I don’t control 1MDB. I don’t decide anything on 1MDB.”
When posed the question on his seemingly good relationship with the prime minister’s wife, Jho Low said the perception stems from his 16-year friendship with the prime minister’s stepson Riza Aziz, a Hollywood filmmaker whom he had known since their English secondary school days.
“I know the stepson well, but I’m not sure I would agree that I am the (prime minister’s) wife’s best friend,” said Jho Low. “At the end of the day, something that was supposed to be a good cause just gets screwed – guess what? – because everyone just wants control of the money.”
“It’s really as simple as that.”
paid
