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Low dismisses claims of $500mil airbase deal
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Friday, 30 July 2010 14:27
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 KUALA LUMPUR - Money man Taek Jho Low has dismissed allegations of his involvement in the redevelopment of the TUDM Sungai Besi airbase.
Low said, "I am not involved – that part I want to make clear. I understand that there are some allegations that I received a RM500mil contract for the Sungai Besi project. That is absolutely not true."
"I have no involvement whatsoever in the Sungai Besi project and from what I was made to understand, it is a project by 1MDB,” he said in an exclusive interview with The Star.
Low also talked substantially about Middle East investments in Malaysia and the potentiality of Malaysia to attract more investors from the region.
He mentioned about former Prime Minister Mahathir Mohamad's great vision which contributed to the exposure of Malaysian-based construction companies to the global infrastructure industry.
"There are now many Malaysian companies doing sophisticated construction work in Abu Dhabi, Qatar and all over the Middle East. Overall, Malaysian companies have gained a good reputation there," he told The Star.
According to Low, he was invited to take part as a shareholder of Abu-Dhabi-Kuwait-Malaysia Investment Corporation (ACKMIC) in January 2008 which he acquired a 10 percent share.
ACKMIC was established for investments in Malaysia and participated in the UBG Bhd transaction, which had potential for growth and in the construction business, until the United States of Emirates (UAE) got affected by the financial crisis in 2008.
"We subsequently received an offer from Petro Saudi and we decided to exit this investment."
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