Jho Low back in the limelight

by **Cals** Sun 02 Nov 2014, 22:55

Jho Low back in the limelight

Saturday, 1 November 2014
By: GURMEET KAUR, CECILIA KOK

JYNWEL Capital may not ring a bell, but the name Low Teik Jho, aka Jho Low, sure does. The 32-year-old high-flying businessman needs little introduction, having shot into the limelight for his influence in oil-rich Gulf countries, parties at exclusive clubs with the likes of socialite Paris Hilton and R&B superstar Usher, and his apparent close ties with top Malaysian politicians.
But beyond his flamboyant lifestyle, the Wharton graduate is back in the news – this time for his business dealings.
Consider this – Jynwel Capital – in which Jho Low is the chief executive officer, has in the last three years been involved in deals worth more than US$7bil (RM22bil).
Based on its deal flows, the firm, which is based in Hong Kong, stands taller than many Malaysian-helmed privately-owned entities. And it has caught the attention of Malaysians and foreigners alike.
Jynwel Capital was co-founded by Jho Low and his brother Szen Low in 2010. This was a year after Terengganu Investment Authority (TIA), an entity where Jho Low served as an adviser for about five months from January 2009, failed to take off.
TIA was set up to manage the oil royalty money – amounting to more than RM1bil per year – that the state was getting from Petronas. The original plan was for the state to raise RM6bil and the Federal Government to fork out RM5bil to establish a major fund to spur investments in the state and the country.
But TIA did not take off. However the Federal Government went ahead with the RM5bil fund raising that was used to establish 1Malaysia Development Bhd (1MDB).
Jho Low and his brother Szen Low are the third generation of the Low family from Penang.
A Wall Street Journal (WSJ) report has estimated the Low’s family wealth to be worth US$1.75bil (RM5.76bil).