Jho Low owns firm linked to 1MDB scandal

Kuala Lumpur

FOR the past year, the Malaysian government has said that a company called Good Star Ltd, which received US$1.03 billion from the scandal-hit 1Malaysia Development Bhd (1MDB) investment fund, was owned by the fund's joint venture partner, PetroSaudi International Ltd.

Now, an official with knowledge of a regulatory investigation has confirmed what Malaysia's central bank has recently asserted: Malaysian financier Low Taek Jho was the sole owner of Good Star during its five years as a company. "What I can say for sure is that Jho Low is the exclusive beneficial owner of Good Star," the official said.