KUALA LUMPUR — Shares in budget airline Air Asia rebounded to 1.25 ringgit (0.30 dollars) after comments on Thursday by Malaysian Prime Minister Mahathir Mohamad about recent bribery allegations involving aircraft maker Airbus. Mahathir, 94, said that it was “normal” in deal-making to ask for an “offset” and that such arrangements were not corrupt unless money was taken for personal use. “Whether you consider an offset as bribery, it is up to you,” Mahathir told reporters after a meeting at the Education Ministry. Shares in the Malaysia-based airline, a household name across Asia, dropped from 1.41 to 1.13 ringgit on Wednesday after it was caught up in allegations that Toulouse-based Airbus bribed its officials to secure aircraft sales.
KUALA LUMPUR — Rosmah Mansor, known for her diamond-studded handbags and overseas shopping trips, on Wednesday faced the first hearing in what could prove a lengthy series of corruption trials. Today’s hearing saw Rosmah, the wife of former prime minister Najib Razak, accused of receiving an illicit 6.5-million-ringgit (1.6-million-dollar) payment related to a solar power contract in eastern Malaysia. Prosecutor Gopal Sri Ram said that the 68-year-old former first lady “wielded considerable influence” on her husband’s government “by reason of her overbearing nature.” Rosmah arrived at Kuala Lumpur High Court shortly before 10 am (0200 GMT) and about an hour after Najib had arrived for one of his multiple corruption trials for alleged plunder of a state fund and abuse of office.
KUALA LUMPUR — Pakistan plans to import more Malaysian palm oil to make up for losses incurred since India imposed informal restrictions on Malaysian imports last month. Speaking alongside visiting Pakistani Prime Minister Imran Khan today, Malaysian Premier Mahathir Mohamad said Pakistan is “quite ready” to import more of the commodity from Malaysia. Khan in turn thanked Mahathir for speaking out against New Delhi’s policies in Kashmir, a disputed Muslim-majority region divided between India and Pakistan, and said his country will “try its best to compensate” Malaysia for India’s apparent retaliation. Mahathir has also accused the Indian government of discriminating against Muslims.
KUALA LUMPUR — Malaysia’s trade with the US grew by 5.6 per cent to 164.45 billion ringgit (40 billion dollars) in 2019, government statistics released Tuesday show. The surge came despite an overall trade decline of 2.5 per cent during what Deputy Trade and Industry Minister Ong Kian Ming described as “a very challenging 2019”. Malaysia’s increased trade with the US was “to a large extent” a result of commerce being diverted from China because of trade tensions between Washington and Beijing, Ong told dpa during a press conference announcing the 2019 trade data. “E and E exports to the US increased significantly,” Ong added, referring to electrical and electronic goods, of which Malaysia is the world’s seventh-largest manufacturer.