Govt denies Jho Low entered Malaysia for 1MDB repayment talks

KUALA LUMPUR: The Finance Ministry has denied that fugitive financier Low Taek Jho, better known as Jho Low, entered Malaysia with a Chinese delegation to discuss repayments linked to the 1Malaysia Development Bhd (1MDB) scandal.

Deputy Finance Minister Liew Chin Tong dismissed the claim in the Dewan Rakyat on Thursday (July 9) after Syed Saddiq Syed Abdul Rahman (Muda-Muar) cited reports in Sarawak Report and The Wall Street Journal containing the claims.

Syed Saddiq said that if such talks had taken place, they would have involved the Finance Ministry because any repayments would have been channelled into accounts managed by the ministry.

Calling Jho Low's purported entry "a very serious breach of Malaysia’s sovereignty", Syed Saddiq urged Liew to provide a direct answer instead of referring the matter to another ministry.

I deny it. I deny the allegation," Liew told the Lower House briefly.

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Earlier, he told the House that the government had paid RM42.5bil in 1MDB-related debts and commitments as of June 30, including principal, interest, legal costs, operational expenses and other obligations.

He said the government also remained responsible for RM8.9bil in government-guaranteed Islamic Medium-Term Notes, comprising RM5bil in principal and RM3.9bil in interest, which will mature in 2039.

This brings the government’s total past and remaining 1MDB liabilities to RM51.4bil.

The government has recovered RM31.3bil in 1MDB-linked funds so far, leaving an estimated net liability of RM20.1bil if no further assets or funds are recovered," Liew said.

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He said recovery efforts remain ongoing through criminal prosecutions and civil suits against former prime minister Datuk Seri Najib Razak, Jho Low, Datin Seri Rosmah Mansor, Tarek Obaid, Patrick Mahony and several international financial institutions linked to the alleged misappropriation of 1MDB funds.

Liew said the 1MDB scandal had severely damaged Malaysia’s international reputation, undermining confidence in the country’s governance, public institutions and fiscal management.

He said the Madani government was working to restore global confidence by strengthening governance and improving Malaysia’s investment and economic competitiveness.