The Malaysian Anti-Corruption Commission (MACC) on Saturday said it is investigating allegations by the British Serious Fraud Office that Airbus SE paid a bribe of US$50 million to win plane orders from Asia’s largest budget airline, Malaysia-based AirAsia Group Bhd.
The office on Friday said that Airbus had failed to prevent individuals associated with it from bribing executives linked to AirAsia and its long-haul arm, AirAsia X Bhd.
AirAsia said it had never made any purchase decisions that were premised on an Airbus sponsorship, and that it would fully cooperate with the commission.
It had not been involved with the office’s investigation of Airbus or been given an opportunity to provide clarification, it said in a statement.
“AirAsia vigorously rejects and denies any and all allegations of wrongdoing,” it said.
“As AirAsia and its executives have no visibility on Airbus’ internal processes, we cannot comment on or be associated with any alleged failures or lapses on the part of Airbus to comply with its own policies or applicable legal requirements,” it added.
On Friday, Airbus agreed to a record US$4 billion settlement with France, England and the US after prosecutors said that it had bribed public officials and hidden the payments as part of a pattern of worldwide corruption.
The deal allowed Airbus to avoid criminal prosecution that could have led to it being barred from public contracts in the US and the EU.
The disclosures came after an investigation spanning sales to more than a dozen overseas markets.
“Under the Malaysian Anti-Corruption Commission Act we are empowered, and have jurisdiction, to investigate any act of corruption committed by any Malaysian citizen or permanent resident in any place outside Malaysia,” MACC Chief Commissioner Latheefa Koya said in a statement.
She said: “In the case of the Airbus-AirAsia disclosures, I confirm that the MACC is in touch with the UK authorities and is already investigating the matter.”
The investigation comes as the Malaysian government evaluates five strategic investment proposals, including one from AirAsia, to partner with Malaysia Airlines.
AirAsia runs an all-Airbus fleet of 274 planes.
The office’s allegations concern a 2012 sponsorship agreement between the now-defunct Caterham Formula 1 racing team, founded by AirAsia boss Tony Fernandes, and Airbus’s then-parent, the European Aeronautic Defence and Space Company (EADS).
The office said that between October 2013 and January 2015, EADS paid US$50 million to sponsor Caterham, which was jointly owned by two people described as AirAsia executive one and executive two.
It said that Airbus employees offered an additional US$55 million, but no payment was made.
Fernandes bought Caterham together with his partner Kamarudin Meranun, AirAsia’s chairman, in 2011.
Fernandes and Kamarudin could not be reached for comment.
The office said that executives one and two were “key decisionmakers in AirAsia and AirAsia X, and were rewarded in respect of the order of 180 aircraft from Airbus.”
“The payments to the sports team were intended to secure or reward improper favor by them in respect of that business,” it said.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained