Director suspected of laundering RM75mil allegedly bribed bank CEO
PETALING JAYA : A company director arrested for allegedly laundering about RM75 million is believed to have bribed the CEO of a bank to approve a loan for a fibre network development project, a Malaysian Anti-Corruption Commission source said.
The suspect, who holds the 'Datuk Seri' title, is believed to have paid the CEO RM8 million to secure a RM400 million loan, despite the company not meeting financing requirements.
However, the project, which was supposed to span 30,000km and connect Southeast Asia, did not take off.
Utusan Malaysia quoted the MACC source as saying the RM400 million has since been traced to several offshore accounts.
The source said the sum was later channelled to a non-existent investment firm, set up in 2018, which targeted high-profile investors.
MACC arrested the suspect, in his 50s, while he was giving a statement at its headquarters in Putrajaya yesterday.
The authorities also raided four locations in Selangor and Kuala Lumpur, including the suspect's home and office, and froze 12 bank accounts – both personal and corporate – with a combined total of about RM400,000.
MACC's special operations division senior director Zamri Zainul Abidin confirmed the arrest and said an investigation is being carried out under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
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Malay Mail
an hour ago
- Malay Mail
A footwear icon no longer forgotten: How Malaysia's Fung Keong shoes rose from the ashes, thanks to an indie publisher
KUALA LUMPUR, July 5 — If you ask younger generations today about their favourite sneaker or footwear brand, chances are they'll name Adidas or Nike — must-haves in most wardrobes. But few might know that decades before these global giants dominated the scene, Fung Keong was the go-to name in Malaysia, a homegrown staple known for its durable, rubber-soled canvas shoes that once defined everyday fashion from the 1920s through the 1990s. Now, after decades out of the spotlight, Fung Keong is making a comeback — revived by an indie publisher determined to reintroduce the iconic sneakers to a new generation. Did you know the brand has a long history tracing back to China before making its way to Malaysia, beginning with an entrepreneur named Fung Keong? Fung Keong shoes displayed at the Rabak-Lit booth during Kuala Lumpur International Book Fair 2025 in Kuala Lumpur May 25, 2025. — Picture by Raymond Manuel The man behind the brand Little is known about the man behind the brand, but Fung Keong — also known as Fung Poi-Fong and Fung Kwok Kee — was a Chinese entrepreneur from Wan Fou (now Yunfu) in Guangdong Province. He migrated to Seremban, British Malaya (now Malaysia) in 1902 at the age of 11, where he studied machinery and, within a decade, built a fortune in the rubber trade. In 1920, Fung Keong established the Fung Keong Rubber Manufactory in Canton (Guangzhou), producing canvas shoes with rubber soles, which quickly gained popularity across Asia for their affordability. Fung Keong shoes displayed at the Rabak-Lit booth during Kuala Lumpur International Book Fair 2025 in Kuala Lumpur May 25, 2025. — Picture by Raymond Manuel Fung Keong's Malaysian chapter and why the shoes disappeared In 1938, following the Japanese invasion of Canton, Fung Keong decided to relocate the entire Canton factory — including staff and equipment — to Klang, Selangor where the following year, in 1939, he formally incorporated Fung Keong Rubber Manufactory (Malaysia), marking the brand's official establishment as a manufacturer in Malaysia. From that point on, FK shoes became a symbol of affordable, everyday footwear for Malaysians, whether it was for someone starting a new job or a child heading to school for the first time, the brand was a trusted and familiar choice. The shoes remained popular through the 1980s and 1990s. However, according to Izzat Amir, a partner of the Fung Keong brand of today, the import of thousands of Honda vehicles into Malaysia during the 90s shifted market dynamics. 'Tyres started offering better profit margins than shoes,' Izzat explained. 'So the company made the decision to stop producing footwear and focus entirely on tyre manufacturing.' The business then operated under the name Fung Keong Rubber Manufactory Sdn Bhd, focused on tyre production, with no further involvement in the shoe industry — at least for a time. According to Izzat, after the original Fung Keong brand was closed, the shoe department was later revived under a different name. 'It started as All England, then changed to All America, which is still operating today,' he said. Fung Keong shoes displayed at the Rabak-Lit booth during Kuala Lumpur International Book Fair 2025 in Kuala Lumpur May 25, 2025. — Picture by Raymond Manuel The revival by indie publishing house Rabak-Lit Fung Keong shoes may have faded into nostalgic memory for many Malaysians, but it wasn't until 2022 that indie publishing house Rabak-Lit, under the leadership of Izzat, stepped in to rekindle the legacy through a collaboration with the brand. 'It actually started with our author, Nasir Jani, also the director of Kembara Seniman Jalanan, a popular Malaysian film in the 80s, who gave us a lot of insight into the history of these shoes. 'I also read a newspaper article by Datuk M Nasir, where he mentioned he always chose local shoes, especially FK sneakers,' said Izzat, who also has a special connection with the shoes. 'I couldn't afford expensive football boots growing up — Fung Keong was the best alternative. 'It wasn't just shoes; it was part of our life,' Izzat added. In this first revival phase, starting in 2023, all Fung Keong collaborations were with rock bands, actors and fashion designers, with the FK Action Nasir Jani being the first to be created. As for the purpose behind these collaborations, Izzat said it was to build trust and show people that these are the same as the original Fung Keong shoes they remember from 40 years ago. Many FK shoes have been created since, from FK Sneakers Kembara Seniman Jalanan M. Nasir, to FK Sneakers Keluang Man, and the upcoming FK SIAR Sneakers. 'Icons like Nasir Jani, the late Pyan Habib, and M. Nasir helped verify and vouch for us. 'Through them, people could see that Rabak-Lit truly brought back the original FK shoes — not just a rebranded version,' he added. The rights to the FK Sneakers currently belong to Rabak-Lit, and the journey to revive the legacy of the Fung Keong shoe line has only just begun. FK Sneakers booth set up by Rabak-Lit at Medan MARA. — Picture courtesy of Rabak-Lit Where to get the new FK Sneakers and what's next In the '80s and '90s, FK sneakers were widely available at corner stores, but that's no longer the case today. If you want to wear a piece of Malaysian history — and take a break from big brands — the revived Fung Keong sneakers are available at Rabak-Lit's store in Seremban, or you can contact them on social media to get a pair. Also, keep an eye out for Rabak-Lit booths at conventions — they're a great place to check out and buy the shoes in person. As for what's next for the brand Fung Keong, Izzat shared that their upcoming project is a Malaysian fashion exhibition, launching in November, celebrating styles from the 1980s. 'It will feature FK sneakers across the decades and run for a full year. 'Right now, I'm looking to buy back old shoes from collectors,' Izzat said. 'We're also searching for original shoe racks from the '80s and '90s.' These FK sneakers aren't just shoes — they're a symbol of heritage, reimagined for today, and with the right push, who knows? They might just go from a local icon to a global name.
The Star
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Fulfil aircraft delivery, Airbus urged
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The Star
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