Latest news with #RM3.17bil
The Star
4 days ago
- Business
- The Star
MBI Selangor refutes any connection to MBI International Group
PETALING JAYA: Selangor Mentri Besar (Incorporated) or MBI Selangor stresses that it has no connection, relationship or interest with MBI International Group (MBI) and individuals involved in the investigation into an investment fraud case. Sinar Harian reported that MBI Selangor said there was a possibility of public confusion arising from the similarity of names between the two entities and it is taking this seriously. 'MBI Selangor is a wholly-owned subsidiary of the Selangor government established to drive strategic development, investment and management of state assets in line with the aspirations of sustainable development and prosperity of the people of Selangor. 'Therefore, we urge the public to be careful and not to be confused with entities that are not related to the official operations of the Selangor government. 'Any further information about MBI Selangor can be obtained through our official website at or other official communication channels,' it said in a statement on Saturday (May 31). Previously, it was reported that a businessman with the title of Tan Sri was among three individuals who were arrested after being believed to be involved in an investment fraud scheme involving MBI. Bukit Aman Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the three suspects, who are local men aged between 46 and 58 years old, were arrested in raids carried out through Ops Northern Star around Kuala Lumpur and Penang between May 1 and 17. Inspector-General of Police Tan Sri Razarudin Husain had also announced that his department arrested eight individuals and seized assets worth RM3.17bil on April 11, based on information from an Interpol Red Notice.
The Star
09-05-2025
- Business
- The Star
HIGHEST IN A DECADE
PTPTN announces 4.05% Simpan SSPN dividend for 2024 THE National Higher Education Fund Corporation (PTPTN) declared a 4.05% dividend for the National Education Savings Scheme (Simpan SSPN) in 2024. Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir said this is the highest dividend in the last 10 years and a significant jump from 2023's dividend, which stood at 3.6%. 'I would like to congratulate PTPTN for its efforts undertaken under Simpan SSPN, to ensure that saving for our children's future education can be done effectively,' he said during his address at the ministry's headquarters in Putrajaya on Apr 30. 'Over the past 21 years, the organisation has ensured that Malaysian children entering higher education are able to pursue their studies without any serious obstacles or other factors preventing their entry into institutions of higher learning. 'It has also continuously worked to encourage more Malaysians to save for their children's future, so that they have the best opportunities to further their education.' Also in attendance during the announcement ceremony were Deputy Higher Education Minister Datuk Mustapha Sakmud, PTPTN chairman Datuk Seri Norliza Abdul Rahim and chief executive Ahmad Dasuki Abdul Majid. During the announcement, Zambry added that the dividend will benefit 6.77 million depositors, involving a total allocation of RM439.87mil. This brings the total dividend payout since Simpan SSPN's inception in 2004 to RM2.12bil. He shared that interest and support from citizens are also on the rise, with over 500,000 new accounts opened just last year. Last year, Simpan SSPN received deposits amounting to RM3.17bil, an increase of RM24.37mil or 0.77%, compared to the RM3.15bil deposited in 2023. As of Dec 31, 2024, the total accumulated deposits received stood at RM20.56bil. He added that effective risk management, along with strategic portfolio selections in long-term fixed deposits and sukuk (Shariah-compliant bonds), had contributed significantly to the favourable results. 'This is a commendable achievement and a testament to the continued support of depositors, as well as PTPTN's efficiency in managing the savings fund effectively through integrity-driven and strategic governance to ensure optimal returns for depositors,' said Zambry. The 4.05% dividend also reflects a competitive and positive net investment return compared to the overnight policy rate (OPR) set by Bank Negara, which remained at 3.0% throughout 2024. Depositors can check their savings statements online via the myPTPTN app from May 2. Simpan SSPN Prime The ceremony also witnessed the launch of the Simpan SSPN Prime 2025 Loyalty Rewards campaign, which aims to disseminate various privileges and benefits to loyal depositors, including an additional 1% loyalty reward on top of the annual dividend. This savings scheme is specially curated for loyal and consistent depositors, rewarding them for their long-term savings. The loyalty reward will be given to depositors who save a minimum of RM1,000 during the promotional period, which runs till July 31. This is the sixth consecutive year the rewards campaign has been held since it was first introduced in 2019. It is open to depositors who opened their accounts from 2004 up to Dec 31, 2021. Apart from annual dividends, Simpan SSPN also offers various privileges and benefits, including individual income tax relief of up to RM8,000 per year, takaful protection for depositors, free matching grants of up to RM10,000, Shariah compliance and savings guaranteed by the government. Zambry added that the campaign also aims to encourage more Malaysians to actively save for their children's higher education from an early age. 'Under the Madani government, these schemes and policies will continue to be improved to ensure that opportunities for higher education are made available to Malaysian students in the best possible way,' he said. 'We hope more citizens will continue their efforts to save through Simpan SSPN, utilising the fund as a savings platform for their families' future.' For more information, visit
The Star
30-04-2025
- Business
- The Star
Ideal Property denies claim chairman arrested over scam case
GEORGE TOWN: Property developer Ideal Property Group has dismissed allegations on social media that its Group Executive Chairman was arrested in connection with the investigation into a scam linked to MBI Group. In a statement, the group said it has lodged reports to authorities to pursue legal action. "Ideal Property Group strongly refutes the false and malicious allegations and categorically denies these baseless and defamatory statements. "Ideal Property Group operates with strict adherence to the law, ethical business principles and distinguishes itself through technical excellence, successful project delivery and rigorous regulatory compliance. "Our organisation is committed to maintaining the highest levels of professional integrity and operational transparency. "To address this false and malicious disinformation campaign, Ideal Property Group has lodged a report with the Malaysian Communications and Multimedia Commission, police and will take immediate legal action to protect its reputation," the statement said on Wednesday (April 30). The group added it continues to show solid operational performance. "Our organisation maintains its unwavering focus on executing current projects and fulfilling all obligations to its various stakeholders with excellence," it said. On April 22, police arrested five more people, including two with the titles Tan Sri and Datuk Seri, for their suspected roles as proxies and business partners in a Ponzi-style investment scam linked to MBI. Officers also seized three durian orchards covering nearly 360ha and worth about RM223.6mil in Raub, Jawi and Tasek. Earlier, Police Inspector General Tan Sri Razarudin Husain said eight people had been arrested and RM3.17bil in assets had been seized in the case.
