Malaysia Violent Crime Wave Escalates With Shootings, Car Blast

Malaysia Violent Crime Wave Escalates With Shootings, Car Blast

One man was executed at a traffic light, another shot four times by motorcycle assassins and a third had explosives detonated in his Jaguar car in separate incidents around Malaysia, the Star newspaper reported today. While gun ownership is restricted, public shootings have surged to almost one a day since July 26, according to data compiled by police. Prime Minister Najib Razak pledged to boost resources for fighting violent crime and introduce additional legislation in parliament after AMMB Holdings Bhd. founder Hussain Ahmad Najadi was shot dead in a car park last week.Early today, a 37-year-old ethnic Indian man was gunned down at point-blank range at a traffic light while driving in Malaysia’s northern city of Penang, the Star said, citing police Assistant Commissioner Gan Kong Meng. Separately, a 29-year-old man is recovering after being shot by motorcyclists while driving in Ipoh late yesterday, the newspaper reported, citing police Assistant Commissioner Sum Chang Keong.

In Kuala Lumpur, the rear end of a Jaguar belonging to an unidentified restaurant and nightclub-owner was damaged by explosives on Aug. 6, the Star reported today, citing police. The case has been classified as attempted murder, it said.

The surge in violence is partly due to the abolition of the Emergency Ordinance in 2011, which led to 2,600 hardcore criminals and gang members being released from detention, the malaymailonline reported July 9, citing Home Minister Ahmad Zahid Hamidi in parliament. Najib repealed the law, which allowed suspects to be detained for as long as two years without trial, in a bid to boost civil liberties.

Temple Killing

Voters cited crime and social problems as their biggest concern after the economy in a survey of 1,018 people conducted in December by the Merdeka Center for Opinion Research. Najib’s coalition was returned to power in May’s general election by its narrowest margin since independence from Britain in 1957.

Police said this week they detained four people after Najadi, a Bahrain-born banker, was gunned down by suspected contract killers near a temple in the Malaysian capital on July 29. The 75-year-old businessman formed Arab-Malaysian Development Bank Bhd. in 1975, selling out after seven years. The institution went on to become AMMB (AMM), now Malaysia’s fifth-largest lender by market value.

To contact the reporter on this story: Barry Porter in Kuala Lumpur at bporter10@bloomberg.net

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: