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Teresa Kok defends Bakke's appointment as MPOB head

KUALA LUMPUR: Former 1Malaysia Development Bhd (1MDB) chairman Tan Sri Mohd Bakke Salleh had resigned from the fund’s board in 2009 as soon as it was discovered that the company’s management had transferred out US$1bil following a deal Abu Dhabi’s International Petroleum Investment Co (IPIC) without the knowledge of the board of directors.

Teresa Kok defends Tan Sri Mohd Bakke Salleh's appointment as MPOB head

It’s a case of old habits die hard

THIS is the last time I will be away on a six-week stretch. It all started when I had to attend my Harvard Business School (HBS) AMP 182 annual class reunion in Lisbon, Portugal on June 20. As I had to attend two graduation convocations in London on July 11 and July 26, I decided to stay back in Europe and travel.

Khazanah’s investment playbook set for revamp

KUALA LUMPUR: Khazanah Nasional will likely cut stakes in some top state-linked firms as the government overhauls the sovereign wealth fund’s investment strategy, after revamping its board last week, to boost transparency and slash national debt.

Khazanah will likely trim stakes in CIMB Group Holdings, chaired by the brother of former Premier Datuk Seri Najib Tun Razak, regional telecoms firm Axiata Group and restructure struggling Telekom Malaysia in the coming months, the sources told Reuters.

China Petroleum says no funds paid to third parties

KUALA LUMPUR: China Petroleum Pipeline Engineering Co Ltd (CPP) has refuted reports about the allegations of payment of funds to third parties over its pipeline projects in Malaysia.

“There were absolutely no funds paid to any third-party Cayman Island-based company and/or companies whatsoever. Any allegations or statements to the contrary are completely false,” it said in a statement.

1MDB liaison to Goldman among targets of Swiss criminal probe

GENEVA: A former top executive with the Malaysian investment fund 1MDB and a senior lawyer at the fund who worked with Goldman Sachs Group Inc. are among six people targeted in a Swiss criminal probe into the multibillion-dollar scandal, according to people familiar with the matter.

Validation time for AmBank

CEO: Strategy to focus more on retail, smaller businesses has enabled us to start growing again

Transformation: Ambank has intensified its efforts on curbing cost, which is a huge part of its transformation phase.