Our ‘favourite’ millionaire cavorts with Paris

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So our ‘favourite’ Malaysian millionaire, Low Taek Jho, is making waves with Paris Hilton in … where else but Paris.

The celebrity gossip blogs and websites are full of it.

And to think young Jho Low only graduated in 2005 from the Wharton Business School at the University of Pennsylvania, where he is believed to have established Middle-East connections.

Unfortunately, the frolic in France had a lousy start, as US Magazine reports here. Spoil sports.

AFP reports:

Paris Hilton caught with cannabis in handbag

AJACCIO, France — American socialite Paris Hilton was briefly held by police on the French island of Corsica after being caught with cannabis in her handbag, according to police sources.

Hilton was detained after arriving at the airport in Figari on a private jet from Paris on Friday.

Police found less than a gram of cannabis in her handbag, and released her soon afterwards without charge.

According to Corse-Matin newspaper, Hilton was travelling on the private jet with “people close to power in Malaysia”, and was due to travel by yacht to the luxury resort of Porto Cervo in Sardinia, Italy.

The incident is the American’s second brush with the law this month.

The 29-year-old was arrested during the World Cup in South Africa after a friend she was with took a joint to the Brazil-Netherlands quarter-final match in Port Elizabeth.

Low is a non-executive director of UBG Bhd. He is a representative of Majestic Masterpiece Sdn Bhd and Abu Dhabi-Kuwait-Malaysia Investment Corporation (ADKM), a 53 per cent shareholder of UBG, whose chairman is Mahmud Abu Bekir Taib, son of Taib Mahmud. (UBG has acquired a couple of CMS companies.)

Meanwhile, 1MDB is a “strategic development company” owned by the Malaysian government. The firm started life as the Terengganu Investment Authority (TIA), which was set up to manage Terengganu’s RM1 billion annual revenue from oil royalties under what would be the country’s second sovereign wealth fund. TIA was established with the approval of the federal and state governments in March 2009, around the time Najib was set to take over as PM.

One of the key figures who advised the King (who comes from Terengganu) to establish the TIA was Low Taek Jho, reported the Edge on 14 December 2009.

(Low was previously reported in the Malaysian Insider, which cited a Singapore Straits Times report, as being part of Najib’s inner circle and having close ties with Middle East investment funds.)

The original idea behind TIA was to create a sovereign wealth fund with RM5 billion from the federal government and another RM6 billion to come from Terengganu’s securitised future oil royalties receivable from Petronas.

After reported problems over who should control the fund, TIA was turned into a federal entity, 1MDB.

And now prized Sungai Besi land is to be transferred to 1MDB with possible Middle-Eastern interest, as the Star reports:

Wednesday May 19, 2010
Sg Besi land transfer to 1MDB
By ANITA GABRIEL
[email protected]

PETALING JAYA: The Government will transfer ownership of the prized land in Sungai Besi, currently the base for the Royal Malaysian Air Force, to 1Malaysia Development Bhd to be developed into a multi-billion ringgit commercial project, akin to an “urban renewal project,” said a source.

“It will basically be a left hand, right hand transfer. The Government has entrusted the land to 1MDB, which is a wholly-owned government agency, which will then be responsible for unlocking the value and maximing returns from the land.

“1MDB will manage the entire process and with the mandate as a land owner, it will woo foreign parties to contribute to foreign direct investments in the country,” said a source close to the plans.

It is believed that the massive project will be developed through a joint-venture with Qatar Investment Authority (QIA), which only recently signed a memorandum of understanding with 1MDB for a strategic real-estate development in the Klang Valley.

It was announced earlier that a joint committee would be set up by 1MDB and QIA to assess the viability of real-estate opportunities along with other investments. QIA has proposed to invest some US$5bil in these projects.

The Edge Property mentioned a Sungai Besi connection with Malton Bhd or Desmond Lim:

1MDB, Malton to redevelop RMAF base

By M Shanmugam of The Edge Financial Daily
Thursday, 13 May 2010 12:23
KUALA LUMPUR: The cabinet has agreed in principle to entrust the task of redeveloping the Sungai Besi Royal Malaysian Air Force (RMAF) base to a consortium of companies that include 1Malaysia Development Bhd (1MDB), sources say.

The other members of the consortium are Lembaga Tabung Angkatan Tentera (LTAT) and Datuk Desmond Lim of Malton Bhd, they say. It cannot be ascertained if Malton or Lim, through his private company, has a stake in the consortium.

It is learnt that the mandate of the consortium is to develop the 162-hectare site into a multi-billion-ringgit Islamic financial centre. This is in line with the government’s plans to enhance Malaysia as a regional Islamic financial centre.

The sources say the government will also ink an agreement with the Qatar government that will commit an undertaking for major investments in Malaysia. The investments will be jointly undertaken with 1MDB and may likely include the redevelopment of the Sungai Besi RMAF base…

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Anil Netto

Latest: Paris Hilton and our 'favourite' millionaire http://bit.ly/ckfGIe

Cont.Est.Agent

Our ‘favourite’ millionaire cavorts with Paris … http://bit.ly/9GfY5E

pk

Our "favourite" millionaire cavorts with Paris http://bit.ly/cA8nXn #Malaysia

yapthomas

Reading this article, I have a speculative conclusion that billions of ringgit is gone without us "Rakyats" noticing. http://bit.ly/9gG4Hy

Fausto Danesi

I’ve been watching Paris Hilton’s BFF. Where do they find these people? They are from another planet!

raj

Guys, there seems to be more party photos … with Hollywood socialites.

Just go here:

http://www.celebutopia.net/forum/showthread.php?153113-Paris-Hilton-at-Byblos-Nightclub-in-Saint-Tropez-22-07-10-%2815x%29-54-Adds

Suzanne

And by the way Anil, I like your blog and all, and that’s a nifty tagline, but I think that justice is down to the barest, muddiest trickle here in Malaysia.

Suzanne

I’m still rolling on the floor, laughing at the concept of celebrities being desperate to shake Rosmah’s hand. Seriously, man. Talk about an over-inflated, unrealistic view of a two-bit politician’s wife.

wira

Baba or otherwise, Low is not the person.
That he is not a pure Chinese is not the point of contention.

wira

I think it is natural that Low is being speculated as the person who took Paris Hilton on a private jet to South Africa given the photos that are being circulated on the internet of him with her.

I think everyone is on the wrong track.
Apparently, the person who took Paris Hilton to South Africa was not a Chinese.

Pearl

That LOW is not a Chinese either. That LOW is a baba, can’t even speak Mandarin.

Approving Authorities

With political eunuchs like KTK, there really is no need for Umno to pass laws to shut us up or at least not until the advent of blogs like Anil’s.

Jerry Chin a.k.a TOKZ

Hi All, Sadly, I simply cannot understand why are you & so many dudes are getting so HYPED-UP over this issue? Hmmm, OK, well…should I consider that’s becos’ you fellas are simply JEALOUS of NOT having as much $$$ to splash as compared to that whatsoever JHO or JOLOK. Thus before we contribute our criticisms towards this JHO fella, why not ask ourselves the following questions: 1) Does anyone has CONCRETE EVIDENCE(s) to say this JHO fella had MAKAN Malaysian taxpayers $$$??? 2) Simply becos’ this JHO fella splashed thousands of $$$ a night in some posh club, stays in… Read more »

Pearl

Jerry

1. Who is talking about this JHO makan taxpayer money?

2. Who cares where he got the $$$?

3. This JHO fella got his money the legit way…

5. Just because LHO has money doesn’t mean he has the right over our right to free speech – until the time he can get UMNO to pass the law to shut us up, that is….

Yati

Wonder why he never spend his money with local celebrities?…

Pearl

… local celebrities where got so rich one?

Arumugam

I wonder who would be next, I mean after Paris Hilton? Jessica Alba? Lindsay Lohan? I am really jealous of this Low Tech Joe…….I wish I could at least have a date with ………. alas I was not even born with a rusty spoon in my nostrils…..

O

Aduh, salivating….

Reluctantly in Melbourne

Monies are being siphoned out every second, lopsided agreements are being made to the detriment of the Rakyat. New PM , new inner-cirles (i.e. cronies),BUT with new Pakatan federal govt. the first things we will discover the many cans of worms left behind by the UMNO/BN govt…. and the jokers would … (probably) have absconded to foreign lands like Canada, Australia, UK…maybe to Zimbabwe as long as Robert Mugabe is still President there cos they are same-same mah. The jokers would all live a life of luxury and leaving the Rakyat to build up the nation again with all the… Read more »

Pearl

“the first things we will discover the many cans of worms left behind by the UMNO/BN govt”

plus immediately thinking of ways to (spend) 50 million to build a white PICC elephant.

kl_boy

hahahaha….true. Arch in the garden also no one volunteer to do for free. Maybe no Chinese Assoc to hang a signboard / datoship over this.

Approving Authorities

The Arabs are rich and our favourite millionaire is merely helping them to spend their billions.

cicakman

He got the money and he got the right to … Paris Hilton so long as it is not rakyat’s money.

wandererAUS

wahh, with so many sons of Penang as property developers, they could not even put up two upright arches in the botanical garden….not very good for international reputation, is’nt it?…no worries, as long as you know who to … with…you are made!

Sean

I really struggle to read this article without interpreting “TIA” as “Thanks In Advance”.

Bigjoe

Someone mentioned he is Loh Boon Siew’s grandson. True or not?

Pearl

Born with a silver-foot in his mouth and will forever have that silver-foot in his mouth.

1Malaysian

Damn lucky 2 hv Paris Hilton by his side. Well done Malaysian. Now v r in d world map. Congrats!