Bank Negara issues ‘wanted’ poster for former 1MDB execs Casey Tang, Jasmine Loo

Bank Negara Malaysia’s ‘Wanted’ poster of the two persons whom the bank believed could assist in their investigation. — Picture by Bank Negara Malaysia
Bank Negara Malaysia’s ‘Wanted’ poster of the two persons whom the bank believed could assist in their investigation. — Picture by Bank Negara Malaysia

KUALA LUMPUR, July 24 ― Malaysia’s central bank is seeking the aid of two people who previously held senior executive positions in state-owned 1Malaysia Development Berhad (1MDB), which is now under investigation for suspected corruption by a multi-agency government task force.

In a posting on its Facebook page today, Bank Negara Malaysia (BNM) released a “Wanted” poster carrying details of the duo to “assist investigation under the Exchange Control Act 1953”.

It urged anyone with information on Casey Tang Keng Chee, 50, and Jasmine Loo Ai Swan, 42 to contact them or file a report at the nearest police station.

“No rewards offered on the information provided for the above individuals,” BNM said in the statement.

According to past news reports, Tang was 1MDB’s  business development executive director for three years, which ended in March 2011.

In a July 28, 2011 report, The Star daily described Tang as a “strategist in business development with vast experience in corporate services, having been involved in mergers and acquisitions, corporate finance and strategic management planning”.

Citing an unnamed source, the daily also said Tang had “opted” out of his 1MDB position upon the expiry of his contract to focus on his own projects.

Tang was formerly in the employment of Courts Mammoth Berhad from September 2006 to April 2009 in the capacity as Finance Director and was also appointed to the Board of Directors from December 2006 to April 2009.

Loo was reported by The Star daily in the same July 28, 2011 news article as a former 1MDB executive director in charge of group strategy who succeeded Tang after the latter resigned in March that year.

The local newspaper had described her as a lawyer by training and had served as a corporate legal adviser with expertise on mergers and acquisitions, debt and equity restructuring, corporate finance and capital markets.

Bloomberg currently lists the University of Malaya graduate as an executive director in charge of compliance and legal matters with construction and engineering company UBG Berhad.

She is also listed as its joint Secretary since August 25, 2009.

The government’s special task force investigating 1MDB comprises BNM, the Malaysian Anti-Corruption Commission, the Attorney-General’s Chambers and the police.

Several individuals linked to businesses that had dealings with 1MDB former subsidiary SRC International ― now under the direct control of the Finance Ministry ― were arrested yesterday and earlier today.

* A previous version of this article erroneously identified Casey Tang Keng Chee as a current executive director of Courts Mammoth Berhad. The article has since been corrected.