KUALA LUMPUR, April 3 (Reuters) - Malaysia will sell a superyacht allegedly bought with stolen funds from state fund 1MDB to casino operator Genting Malaysia Bhd for $126 million, in the first major asset sale by Kuala Lumpur to recover billions lost from the fund. The superyacht Equanimity is among assets allegedly bought by fugitive financier Low Taek Jho and his … [Read more...]
Huge Amounts Of Crystal Meth Are Now Being Smuggled In Shipping Containers
by Rozanna Latiff (Reuters) - Malaysia has made its largest ever seizure of crystal methamphetamine, officials said on Monday, finding nearly 1.2 tonnes of the drug disguised as tea in a shipment from Myanmar, and arrested six suspected traffickers. The bust comes as Southeast Asia reports a flood of the stimulant throughout the region. Indonesia and Thailand have also made … [Read more...]
One Missing After Offshore Research Vessel Catches Fire Off Malaysia
One person is missing after a fire broke out aboard an offshore oil and gas research vessel in the South China Sea off the coast of Malaysia, officials said Tuesday. The fire aboard the MV Geo Technical is reported to have started at about 3:15 a.m. local time on Tuesday as the vessel was operating approximately 27 kilometers off the coast of Baram, Malaysia, Malaysian state … [Read more...]
The Tankship Triangle: Southeast Asia’s Illegal Oil Market
by Henning Gloystein (Reuters) - An alleged oil heist in Singapore that has already led to 20 arrests, the seizure of at least one tanker and allegations that thieves siphoned thousands of tonnes of fuel from Shell’s biggest refinery is shining a spotlight on an illegal trade worth tens of billions of dollars worldwide. Working routes in a triangle of sea anchored by … [Read more...]
USS McCain Collision Exposes Singapore-Malaysia Sea Dispute
KUALA LUMPUR (Reuters) - A collision between a U.S. warship and an oil tanker near the Straits of Malacca on Monday has shone a light on a territorial dispute that has simmered between neighbors Singapore and Malaysia for nearly 40 years. The guided-missile destroyer USS John S. McCain collided with merchant vessel Alnic MC to the east of Singapore, while heading to the … [Read more...]