Latest news with #RM3mil
The Star
an hour ago
- General
- The Star
S'ban gurdwara honours three Sikhs for service to faith, community
Dr Parim (left) and Arjan (right) with the recipients (from second left) Manmohan, Saran and Amar. THREE Sikhs were honoured for their decades of service to the community by Gurdwara Sahib Seremban (GSS) in Negri Sembilan. The octogenarians were each given a robe and letter of honour, as well as a memento by GSS president Arjan Singh. 'Their unwavering dedication and tireless efforts in preserving Sikh history and heritage are commendable, as they have helped our small community keep in touch with our roots. 'We salute them for their commitment and dedication,' he said of the three, who were recognised at a special ceremony at GSS. They were 83-year-old planter Manmohan Singh, retired government servant Saran Singh Sidhu, 80, and housewife Amar Kaur, 81. Present to do the honours was GSS trustee and former president Datuk Dr Parim Singh. Arjan said that apart from spending some RM3mil to build a gurdwara complex on his land in Kuala Klawang in Jelebu, Manmohan had also set up a gallery displaying many historical and traditional items related to the community, such as cooking utensils and musical instruments. 'Manmohan had been running a smaller gurdwara adjacent to his house for decades but decided to build a bigger one a short distance away, so Sikhs could carry out their religious obligations in a more conducive environment,' Arjan explained. Manmohan, he said, also has in his possession a over-a-century-old Sri Guru Granth Sahib Ji, the Sikh holy book, which they consider as their living guru. Saran authored a book on Sant Baba Sohan Singh, a Sikh who spent many years as a granthi (priest) in Gurdwara Sahib Melaka. Saran has also written an illustrated history of Sikh gurdwaras in Malaysia and Singapore. He has additionally penned numerous articles and books on coins and paper currency. He is a foundation fellow of the Malaysia Numismatic Society and a fellow of London's Royal Numismatic Society. Arjan said Amar was honoured for teaching the Gurmukhi script to children and adults alike by holding classes at her home for almost 50 years. 'She first started holding classes in 1972. Through her efforts, many members of the community are able to read the Sri Guru Granth Sahib Ji. 'Aunty Amar, as she is popularly known, is also instrumental in helping students prepare for the Punjabi language paper in public examinations, including SPM,' he said, adding that she had also contributed to Sikh youths in other ways. The trio's contributions, Arjan said, were exemplary and served as shining examples to present and future generations. 'Though no reward could truly match your selfless service to the Sikh community, please know that your works have created a positive and long-lasting impact,' he told them.
The Star
3 days ago
- The Star
MACC seizes RM85.6mil in assets in highway funds probe
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized and frozen assets and bank accounts worth an estimated RM85.6mil as part of an ongoing investigation into the alleged misuse of sukuk funds linked to a Klang Valley highway project. The probe centres on a concessionaire with a "Tan Sri" title suspected of diverting the project's funds for personal use. MACC Chief Commissioner Tan Sri Azam Baki said seizures include 14 individual bank accounts with RM4.5mill and eight company accounts with RM33mil. Also confiscated were luxury vehicles (RM7.65mil), designer handbags (RM3mil), jewellery (RM6mil), high-end watches (RM7mil) and properties valued at RM24.5mil. "We believe hundreds of millions in sukuk funds were channelled to the contractor's company owned by the Tan Sri and later misused for personal interests rather than the intended highway project," Azam said. The funds were allegedly transferred to multiple entities, including proxy companies and the personal account of the Tan Sri's wife, and used to acquire assets such as real estate, luxury vehicles and goods and to fund gambling activities. Azam added that the money could also have been used to finance local and overseas property purchases and investments, which were concealed through layered transactions designed to obscure their origin. As of now, investigators have not yet recorded a statement from the Tan Sri as he is in hospital. "We are reviewing the acquisition trail of these assets and obtaining relevant bank documents, including those tied to the suspect, to support our analysis," he said. To date, 45 individuals have had their statements recorded, with another 30 to 50 witnesses expected to be called in. Family members of the Tan Sri may also be summoned. Earlier reports noted that MACC had seized various luxury items, including handbags, jewellery, watches, vehicles, cash, and high-end residences, worth around RM32mil, believed to be linked to the same individual. During a Thursday operation, officers also discovered a storage room stocked with luxury alcoholic beverages valued at about RM3mil, suspected to be tied to money laundering activities. All assets were seized under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 for further investigation. – Bernama
The Star
3 days ago
- The Star
MACC seizes luxury properties in highway funds probe
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) seized six luxury residences and a plot of land owned by a 'Tan Sri' in its investigation into the misappropriation of sukuk funds for highway construction in the Klang Valley. A source stated that the seizure resulted from a raid by the MACC's investigation division involving properties valued at approximately RM12mil. "During the raid, the MACC also discovered a luxury horse worth hundreds of thousands of ringgit, believed to have been purchased using sukuk funds." "As a result, the MACC has summoned the individual involved along with his wife for questioning, but only the woman appeared, as her husband reportedly has health issues," the Commission said in a statement on Friday (May 30). It also mentioned that the MACC is expected to call between 30 to 50 witnesses to assist in the investigation. The commission is continuing efforts to trace the assets owned by the Tan Sri and his wife both within and outside the country. On Thursday (May 29), the media reported that the MACC seized various assets worth approximately RM32mil belonging to the same individual. These included branded handbags, jewellery, luxury vehicles, watches, and cash. During the operation, the MACC also found a storeroom in one of the residences used to store various luxury liquors estimated to be worth RM3mil, believed to be linked to money laundering activities. The MACC's Strategic Communications Division stated that all items and assets were seized for further investigation under the MACC Act 2009 and the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLA) 2001.
The Star
23-05-2025
- Business
- The Star
PayNet eyes 50 fintech firms in its programme
Payments Network Malaysia Sdn Bhd (PayNet) group chief executive officer Farhan Ahmad KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) aims to onboard more than 50 local financial technology (fintech) firms into its community and accelerator programme, PayNet Fintech Hub. 'There are about 300 fintech firms in Malaysia. For the programme to be competitive, we want about 50 to be in our programme,' said group chief executive officer Farhan Ahmad at the launch of the fintech hub here yesterday. The programme aims to accelerate fintech growth in Malaysia by providing firms with direct access to capital, key industry connections, financial incentives, and the ability to learn from and work alongside global powerhouses. On the once vibrant startup ecosystem in Malaysia, Farhan said among the reasons why local startups have yet emerged as unicorn companies are due to them not being able to find good venture capital and not having a natural liquidity option. 'It's hard to go into an initial public offering and there is no acquisition in the market. 'So we learned that and thought about how we connect fintechs that want to work with banks and interested investors – there is no place for them to meet each other,' he said, adding that PayNet is trying to play a role in creating the fintech community. 'If you are a small startup and you cannot find anybody to partner you, maybe PayNet can help you. 'I think we looked at all these little problem statements faced by the fintech startups,' he added. When asked how PayNet is looking to further scale the startups involved, Farhan said the group's role is to provide inspiration, support and international exposure, including access to global venture capital and partners like Amazon Web Services. This will allowa the startups to scale beyond Malaysia while ideally staying rooted in Malaysia. The PayNet Fintech Hub initiative features two tracks, namely community and catalysts, and offers about more than RM4mil in support. According to PayNet, the fintech hub community members will get exclusive financial support in the form of more than RM1mil in PayNet value-added credits and over RM600,000 worth of sponsored advisory services across legal, finance, human resources and market research. The members will be granted up to RM3mil in cloud credits and support from major cloud service providers, as well as access to a fully sponsored co-working space. Community members will also be provided direct access to a vibrant community of founders, expert mentors, corporate partners, and fintech investors offering over 450 hours of hands-on guidance, collaboration and funding opportunities.
The Star
20-05-2025
- Business
- The Star
Kulai retiree loses RM431,000 to fake investment scheme
KULAI: A private sector retiree claimed to have lost RM431,000 after being deceived by a syndicate into joining a non-existent investment scheme. Kulai OCPD Asst Comm Tan Seng Lee said the victim was lured by the promise of a 20% to 30% profit within three days of investing in the scheme. "The victim was promised that the profit would be credited into his Demax Global account app," he said in a statement. ACP Tan stated that the 67-year-old local man made 32 transactions totaling RM431,000 into three local bank accounts between March 17 and May 15 of this year. Upon completing the transactions, the victim checked his Demax Global account app and found a RM3mil profit displayed on the screen. "He wanted to withdraw the profit but was instructed to bank in an additional amount of RM30,000," added ACP Tan. The victim realised he was cheated after failing to withdraw the sum and lodged a police report on Tuesday (May 20). The case is being investigated under Section 420 of the Penal Code. ACP Tan reminded the public to be alert and careful, especially in financial transactions involving unknown persons. The public can also visit Semak Mule, contact the CCID Scam Response Centre at 03-26101559 or 03-26101599, or go to Facebook @jsjkpdrm and @cybercrimealertrmp. Scam victims are advised to call the National Scam Response Centre at 997 to report their case.
