Latest news with #RM438
The Star
2 days ago
- The Star
‘Datuk Seri' takes Thor for a ride in land deal
JOHOR BARU: A businessman lost RM438,000 after he was duped by a 'Datuk Seri' who claimed to have ties with a royal family and could help acquire a plot of land below market price. The 64-year-old victim, known only as Thor, met the suspect in April last year when the latter wanted to purchase his second-hand car that was advertised on an online selling platform. Johor MCA Youth public services and complaints bureau chief Henry Mok, who highlighted the case, said the businessman and suspect met up at a restaurant to go over the details of the vehicle purchase. 'The suspect ended up driving off with the victim's car without making a payment. The Datuk Seri kept delaying the payment, citing that the car needed repairs. 'Later, the suspect apparently sent a runner to complete the vehicle ownership transfer at Thor's shop and still, no payment was made,' he said in an interview. 'The businessman was convinced that the payment would be made because the Datuk Seri claimed that he was well connected and knew members of the royal family as well as top politicians and government officials in the country,' he added. Mok said the suspect also showed photographs of himself with various VIPs to gain the victim's trust. 'In April last year, the suspect apparently offered to help the victim acquire a plot of land for RM30,000 instead of the market value of RM100,000. 'The suspect claimed that he could use his connections to obtain the necessary approvals for the land, which would be used for a special project, and the victim believed him,' he said. Mok said Thor handed RM26,000 in cash to the suspect on April 20 last year. In four months, he said the businessman made more than 20 bank deposits, with the amount ranging from several thousand to tens of thousands of ringgit, into the suspect's personal and company accounts. 'The suspect claimed that the payments were for various reasons such as land application fees, tax processing fees and charges to clean up and level the plot of land allegedly purchased by the victim,' Mok said, adding that the total amount exceeded RM438,000. 'Along the way, the suspect purportedly impersonated a police officer to intimidate and force Thor to hand over his luxury multi-purpose vehicle. 'Thor only realised he had been cheated when there was no progress on the supposed land purchase and no official documents were provided,' Mok said. He added that the last time Thor was in contact with the Datuk Seri was on May 5 this year. Realising that he had been duped, the victim sought help from Mok and lodged a police report on Aug 8. Mok reminded the public against trusting claims and promises made by individuals before committing to an agreement or investment. When contacted, Johor Baru South OCPD Asst Comm Raub Selamat said the investigation is ongoing, but no arrests have been made so far.
The Star
20-05-2025
- The Star
Hong Kong woman selling electric toothbrush online loses HK$800,000 in scam
Purported buyer gives her link to complete transaction and woman later realises money missing from her account. — SCMP A Hong Kong woman trying to sell an electric toothbrush on a popular online marketplace fell victim to a scam that cost her HK$800,000 (RM438,310 or US$102,370). The victim, a 38-year-old living on Bonham Road in Mid-Levels, had listed the item on Carousell and was approached by a supposed buyer expressing interest. The buyer claimed the payment would be completed online and a link was provided for the transaction. The seller clicked the link and followed the instructions and later realised HK$800,000 (RM438,310) had been withdrawn from her account without her authorisation. She reported the incident to police on Monday. The case is being handled by the Western district investigation team. – South China Morning Post
The Star
09-05-2025
- Business
- The Star
Jewellery remains a top choice for Mothers Day gifts
Investments to cherish: Yuvabalan showing a jimki (type of earring) sold at his shop in Little India, George Town, Penang. — ZHAFARAN NASIB/The Star. GEORGE TOWN: Gold jewellery remains a popular Mothers Day gift, with many opting for smaller, budget-friendly pieces despite the high prices. VKN Jewellers director Datuk S. Yuvabalan said smaller pieces like bracelets, rings, bangles and earrings have grown in popularity, especially with current gold prices. 'With Mothers Day approaching, we have seen children bringing their mothers in to choose a gift. 'Bracelets, bangles and earrings are among the most popular items. 'Many customers traded in old gold for new designs, as it can be profitable. 'Some are even selling their gold while prices are high,' he said. Yuvabalan said demand for gold remains strong, as it continues to hold deep cultural significance, particularly during special occasions. He said while most customers are more budget-conscious, they still see value in buying gold. 'Gold plays an important role in Asian culture, especially during celebrations. 'It is seen as an investment. You can wear it and later sell it, or simply buy it now to sell when the value appreciates. 'People buy what they can afford. Despite high prices, customers are still making purchases,' he said. On Monday, gold was priced at RM438 per gram, before it rose to RM448 the following day. . Pharmacist S. Shankari, 35, bought her mother a new locket for Mothers Day, which will be celebrated tomorrow. Describing it as a meaningful and lasting gift, she said she kept her purchase modest, knowing her mother would be mindful of the cost. 'Flowers, cakes and other items are nice, but they are perishable,' she said. 'In my culture, gold holds value, and I thought it would be lovely to get my mother something beautiful. 'She had been wearing the same locket on her gold chain for years, and I felt it was time for a change. 'Mothers Day felt like the perfect occasion to give her something new and special,' she said. Muslim Jewellers and Money Changers Association of Penang president Datuk Dr Anvar Hussain Rahumathullah said the sharp rise in gold prices over the past year has led to a 70% drop in gold purchases. He said some customers waited and monitored the price trends, choosing to make purchases when the price drops. 'People are still buying gold, but their purchasing power has significantly decreased. 'There is also a growing preference for pure gold pieces, likely due to the higher resale or trade-in value. 'Customers now prefer plain gold items, such as bangles without stones, because gemstones tend to reduce the resale value. 'Smaller pieces are currently more popular, as they are more affordable and fall within the average buyer's budget,' he said.
Malay Mail
25-04-2025
- Politics
- Malay Mail
Who accredits US universities and what does Trump want to change?
WASHINGTON, April 26 — US President Donald Trump issued an executive order this week targeting the non-government agencies that accredit universities and other higher-education institutions, saying that some promote diversity he considers to be a form of unlawful discrimination. The order instructs Education Secretary Linda McMahon to consider terminating government approval of higher-education accrediting agencies that require colleges to show a commitment to having staff and students who are diverse with regard to gender, race and ethnic background. How are US universities accredited? The US federal government does not run any universities or colleges, nor does it accredit them. Instead, under the Higher Education Act of 1965, the education secretary 'recognises' various private educational associations, as well as some agencies run by state governments, that can accredit colleges through a peer review process if they meet criteria laid out by Congress. The government has recognised more than 30 accrediting agencies, including regional agencies and agencies with a narrow focus on particular professional educational programmes. For example, a division of the American Bar Association is the main accrediting agency for law degree programmes in the US; the New England Commission of Higher Education accredits colleges in much of the Northeast, including Harvard University. What does accrediting mean? The Higher Education Act says that the main role of accrediting agencies is to ensure the quality of education received by students and to serve as a guarantor of the diplomas issued by accredited schools. In order to receive Pell Grants or student loans disbursed by the US Department of Education, a student must generally enrol at an accredited or 'pre-accredited' institution. The department issues more than US$100 billion (RM438 billion) in grants and loans each year, according to the White House. The law requires accrediting agencies to lay out clear standards and processes, and that they must assess a college or university by looking at student achievement, graduation rates, curricula, faculty, facilities and admissions practices, among other criteria. What is Trump's criticism of accrediting agencies? Trump, a Republican, has repeatedly criticised US universities for being bastions of what he calls anti-American, Marxist and 'radical left' ideologies, and has said accreditation agencies are partly to blame. In his order, he criticised any agency that sought to promote diversity, equity and inclusion in its accreditation standards with regards to gender, race or ethnic background. He ordered the education secretary to eradicate those criteria within the bounds of existing law. He also ordered McMahon to see that accredited institutions support 'intellectual diversity' in their faculties, which many conservatives consider to be left-leaning. Students demonstrate during a protest where some temporarily locked themselves to the gates to Columbia University's main campus in New York City. — Reuters pic What powers does the education department have over accreditors? Some of Trump's goals may require Congress to amend the law. The Higher Education Act says the education secretary is not permitted to establish additional criteria for accrediting agencies beyond those Congress included in the Higher Education Act. Nor is the secretary allowed to define or prescribe the standards used by an agency to assess a college's student achievement. However, the law does allow accrediting agencies to adopt 'additional standards' beyond those laid out by Congress in making their accreditation decisions. An accrediting agency must reapply for recognition by the education secretary at most every five years. If an accrediting agency fails to meet the criteria laid out in the Higher Education Act, the education secretary can terminate its recognition only 'after notice and opportunity for a hearing'. What does the Higher Education Act say about diversity? The law repeatedly refers to promoting various forms of diversity at US colleges. For example, the law requires institutions provide information for current and prospective students on 'student body diversity', including a breakdown of the gender and racial makeup of full-time students. The law also lays out grant programmes intended for women and other historically under-represented minority groups, and it states that 'underrepresentation of minorities in science and technological fields diminishes our Nation's competitiveness'. — Reuters
