Latest news with #PWC
New Straits Times
a day ago
- Business
- New Straits Times
Bukit Aman officers visit PDC headquarters as part of national MBI probe
GEORGE TOWN: Officers from the Bukit Aman Special Task Force on Anti-Money Laundering (AMLA) visited the Penang Development Corporation (PDC) headquarters on July 9, as part of a nationwide investigation into the Mobility Beyond Imagination (MBI) investment scheme. The visit, conducted in line with anti-money laundering protocols, was aimed at tracing financial flows possibly linked to the scheme. It included the formal submission of a request letter seeking documentation related to the Penang World City (PWC) project, particularly transactions involving Mutiara Metropolis Sdn Bhd (MMSB), formerly known as Tropicana Ivory Sdn Bhd (TISB). Chief Minister Chow Kon Yeow, who also chairs the PDC, confirmed the visit. He said PDC would fully cooperate with the authorities and had already complied with the request. "On July 18, PDC submitted all the required documents, including minutes of meetings and financial documents, to the Bukit Aman Special Task Force. These pertain to payments made by MMSB to PDC for land purchases between 2011 and 2019," he said. Chow emphasised that PDC was not the subject of the investigation, but assisting as a stakeholder involved in earlier commercial transactions that might be relevant to the probe. "This engagement is part of a broader, multi-jurisdictional effort involving numerous entities across the country. "PDC remains committed to due process and has responded in full compliance with all procedural requirements," he added. The PWC project, a major development initiative, is governed by four key agreements between Chief Minister Incorporated (CMI), PDC, Ivory Properties Group Bhd (IPGB), and TISB. These agreements span from 2011 to 2019, including a Novation cum Supplemental Agreement signed on Nov 1, 2019, that brought MMSB into the project. As of July, MMSB reported that reclamation works had reached 68 per cent completion, with the overall development progress — covering both current and future phases — at around 44 per cent. Chow reiterated that PDC would continue to provide full assistance to enforcement agencies within its capacity and remain committed to the principles of transparency, accountability, and good governance. Last month, the Penang government told the New Straits Times that it would leave it to the police to probe the investment scam by the now-defunct MBI International Group, which preyed mainly on Chinese nationals. Chow had said that it was the responsibility of the police to investigate and charge, andstressed that his administration had nothing to do with the matter.
Filipino Times
a day ago
- Filipino Times
18 Filipino cruise ship workers deported, banned from U.S. despite valid visas
At least 18 Filipino workers aboard the Carnival Sunshine cruise ship were reportedly handcuffed, removed by U.S. Customs and Border Protection (CBP), deported to the Philippines, and banned from entering the United States for 10 years, according to Filipino American advocacy groups. The workers, who were not charged with any crime, held valid 10-year U.S. visas. Filipino community leaders, including the National Federation of Filipino American Associations (NaFFAA) and the Pilipino Workers Center (PWC), called the incident 'an alarming escalation of unjust immigration practices.' 'These crew members are devoted parents and spouses who passed strict background checks. Their sudden removal and visa cancellation have left their families in financial hardship,' the joint statement read. CBP confirmed the operation but gave no details. USA Today reported that the workers were previously cleared to work legally in the U.S. With the Carnival Sunshine set to dock again in Norfolk this Sunday, other Filipino crew members remain fearful of similar treatment. The PWC and NaFFAA said this incident reflects a broader trend where foreign cruise ship workers are deported despite holding valid documents. The groups urged accountability from CBP, Carnival Corporation, and the Philippine Embassy, calling for the protection of the rights of seafarers affected by these actions.
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
Chow: PDC cooperating fully in AMLA probe into PWC project
GEORGE TOWN — The Penang Development Corporation (PDC) is giving its full cooperation to police in the investigation by the Bukit Aman Anti-Money Laundering (AMLA) Special Task Force into the Penang World City (PWC) project, which has been linked to the Mobility Beyond Imagination (MBI) investment scheme. Penang Chief Minister Chow Kon Yeow, who is also PDC Chairman, said the corporation has submitted all relevant financial documents and meeting minutes related to the PWC project to Bukit Aman, whose investigation is ongoing at the national level. 'On July 9, the Bukit Aman AMLA team visited PDC as part of a nationwide investigation into the MBI investment scheme. The visit was conducted in accordance with AMLA procedures as part of the authorities' efforts to trace and verify the flow of funds potentially linked to the scheme. 'PDC is giving its full cooperation to assist in investigating any possibility of suspicious fund movements connected to the MBI investment scheme,' he said at a press conference at the Chief Minister's Office in Komtar here today. Elaborating further, Chow said the investigation focuses on payments made to PDC by Mutiara Metropolis Sdn Bhd (MMSB), formerly known as Tropicana Ivory Sdn Bhd (TISB), for the purchase of land involved in the PWC project between 2011 and 2019. He said the probe is being conducted under AMLA procedures and involves multiple entities and jurisdictions across the country, with PDC being included as an interested party due to past commercial transactions carried out in accordance with proper processes during that period. 'PDC remains committed to the principles of transparency, integrity and good governance, and will continue to cooperate with all enforcement agencies. The submitted documents include four main agreements signed in relation to the PWC project to date,' he said. He said the four agreements comprise the Sale and Development Agreement between the Penang Chief Minister (Incorporated) [CMI], PDC and Ivory Properties Group Berhad (IPGB) dated Nov 11, 2011; the First Supplemental Agreement between CMI, PDC and IPGB dated Oct 24, 2013; the Second Supplemental Agreement dated June 23, 2014; and the Novation cum Supplemental Agreement involving PDC, CMI, IPGB and TISB dated Nov 1, 2019. He added that land reclamation work for the PWC project is currently about 68 per cent complete, with overall development progress — including current and future phases — reaching 44 per cent. 'This mega project is viewed as a catalyst for mixed development growth on the island side of the state and has involved collaboration among various parties over the past decade,' he said. In March, Chow had stressed that PDC had no direct involvement with the MBI scheme and that its land sale processes were carried out in accordance with prescribed procedures, and not through any MBI-related transactions. He was also reported as stating that the sale of land in Bayan Mutiara to Ivory Properties Group was conducted via a standard tender process in 2011. — BERNAMA
Barnama
2 days ago
- Business
- Barnama
PDC Cooperating Fully In AMLA Probe Into PWC Project
GEORGE TOWN, July 21 (Bernama) – The Penang Development Corporation (PDC) is giving its full cooperation to police in the investigation by the Bukit Aman Anti-Money Laundering (AMLA) Special Task Force into the Penang World City (PWC) project, which has been linked to the Mobility Beyond Imagination (MBI) investment scheme. Penang Chief Minister Chow Kon Yeow, who is also PDC Chairman, said the corporation has submitted all relevant financial documents and meeting minutes related to the PWC project to Bukit Aman, whose investigation is ongoing at the national level. 'On July 9, the Bukit Aman AMLA team visited PDC as part of a nationwide investigation into the MBI investment scheme. The visit was conducted in accordance with AMLA procedures as part of the authorities' efforts to trace and verify the flow of funds potentially linked to the scheme. 'PDC is giving its full cooperation to assist in investigating any possibility of suspicious fund movements connected to the MBI investment scheme,' he said at a press conference at the Chief Minister's Office in Komtar here today. Elaborating further, Chow said the investigation focuses on payments made to PDC by Mutiara Metropolis Sdn Bhd (MMSB), formerly known as Tropicana Ivory Sdn Bhd (TISB), for the purchase of land involved in the PWC project between 2011 and 2019. He said the probe is being conducted under AMLA procedures and involves multiple entities and jurisdictions across the country, with PDC being included as an interested party due to past commercial transactions carried out in accordance with proper processes during that period. 'PDC remains committed to the principles of transparency, integrity and good governance, and will continue to cooperate with all enforcement agencies. The submitted documents include four main agreements signed in relation to the PWC project to date,' he said. He said the four agreements comprise the Sale and Development Agreement between the Penang Chief Minister (Incorporated) [CMI], PDC and Ivory Properties Group Berhad (IPGB) dated Nov 11, 2011; the First Supplemental Agreement between CMI, PDC and IPGB dated Oct 24, 2013; the Second Supplemental Agreement dated June 23, 2014; and the Novation cum Supplemental Agreement involving PDC, CMI, IPGB and TISB dated Nov 1, 2019. He added that land reclamation work for the PWC project is currently about 68 per cent complete, with overall development progress — including current and future phases — reaching 44 per cent.
The Star
2 days ago
- Business
- The Star
Penang Development Corp cooperating with police in MBI probe
GEORGE TOWN: Penang Development Corporation (PDC) will cooperate with Bukit Aman's anti-money laundering division on the investigation into the Mobility Beyond Imagination (MBI) investment scheme, says Chow Kon Yeow. The Penang Chief Minister said the Bukit Aman special task force visited PDC as part of a broader nationwide investigation into the MBI investment scheme. "This visit was carried out in accordance with Anti-Money Laundering Act procedures and forms part of the authorities' wider efforts to trace and verify the flow of funds associated with the scheme. "An official request letter by the special task force was submitted to PDC on July 9, 2025, seeking the submission of meeting minutes and financial documents related to the Penang World City (PWC) project. "The request was specifically for documentation concerning payments made to PDC for the purchase of land by Mutiara Metropolis Sdn Bhd (MMSB), formerly known as Tropicana Ivory Sdn Bhd. "The focus of the investigation is to examine whether any of the funds paid to PDC by MMSB between 2011 and 2019 may have been linked to the MBI scam," he said during a press conference held at his office on Monday (July 21). Chow, who is also PDC chairman, was asked if PDC was being investigated over the MBI scam. He said on July 18, 2025, PDC submitted all required documents, including minutes of meetings and financial records, to the Bukit Aman special task force. "PDC is assisting the authorities in its capacity as a stakeholder in past commercial transactions relevant to the probe," he said. Chow said there are four agreements signed pertaining to the PWC project.
