Former Malaysian PM Najib says higher fiscal deficit not due to 1MDB

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In his budget speech, the FM said, the previous government was secretly paying for the debts of 1MDB amounting to nearly RM7 billion as at April 30, 2018.

Tech titan’s fortune suffers $9.2b nosedive in China

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The 48-year-old chairman of 360 Security Technology Inc. has experienced the downside of listing in China, after stocks tumbled on concerns about a U.S. trade war and a slowing economy.


AirAsia X appoints new group CEO, co-founders take a backseat

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Air Asia X’s co-founders Kamarudin Meranun and Tony Fernandes have been redesignated as non-executive directors.


Piramal exec Kedar Rajadnye to head True North’s new pharma platform

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Rajadyne, who is likely to join Integrace later this month, will also help True North expand its pharma & healthcare portfolio.


US indicts 1MDB’s Low, ex-Goldman banker; Tim Leissner pleads

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Tim Leissner, a former top Goldman banker in Asia who led Goldman Sachs’s bond offerings for the fund, pleaded guilty to conspiring to launder money and to violating foreign bribery laws.


SG sovereign wealth fund GIC names two new board directors

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Singapore’s sovereign wealth fund GIC has appointed Lawrence Wong and Seck Wai Kwong to its board, effective this month.


Carlyle hires Morgan Stanley banker Tomofumi Matsuyama as Japan MD

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Matsuyama is expected to cultivate deals related to the divesture of assets by large Japanese firms.


Malaysian pension fund KWAP appoints new CEO

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Previously a director at Actuarial Partners Consulting, Syed Hamadah is one of the leading practitioners in pension and social security space in Malaysia.


SoftBank hires Time Warner executive to lead global communications

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It is the latest high-profile hire by SoftBank when it faces criticism for its links to S Arabia, the largest investor in its Vision Fund.


Indonesia summons Lippo’s James Riady to assist in bribery probe

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The summons of one of the country’s most powerful executives follows the arrests this month of nine people in connection with the investigation involving a $21 billion construction project.