GEORGE TOWN (July 21): The alleged controversial 1Malaysia Development Bhd (1MDB) and its connection with businessman Low Taek Jho, who is from Penang, have raised questions among foreigners keen on investing in the state.

Chief Minister Lim Guan Eng said the federal-government-owned entity that has raked up RM42 billion in debts and Low, better known as Jho Low, were issues that did not help when the state government went on trade missions overseas.

He said there were a lot of explanations that had to be done at trade meets, and cited a recent London trip between July 17 and 18 as an example where questions were asked regarding 1MDB and the Pulau Tikus-born Jho Low.

“We spent half the time explaining about 1MDB to investors and [that it] does not affect Penang. But the problem is that Jho Low is from Penang. So whether we like it or not, Jho Low is a Penangite and there have been a lot of headlines about how he used his position for his benefit.

“That takes up a lot of our time in explaining because it attracts interest and attention,” he told reporters at a press conference here today.

However, he added that Penang was strongly against corruption.

“We have to stress that to investors. The fact that a British drama series ‘Indian Summers’ is filmed in Penang is testament of how good we are. But we can’t help it that we are part of Malaysia and the ringgit keeps dropping,” said Lim.

Indian Summers is a TV series that depicts events at the foothills of the Himalayas that revolved around a group of British socialites at the time of the British rule on the Indian subcontinent between 1858 and 1947.

Meanwhile, when asked if Jho Low should clear his name and Penang’s image, Lim said the former only “listens” to one person — though he did not specify who — and thus said there was “no point” making such suggestions to him.

Yesterday, The Edge Financial Daily ran a four-page centrespread report on how Jho Low and Petro Saudi International cheated Malaysia of US$1.83 billion (RM6.2 billion) cash through 1MDB.