Kim body to be sent to North Korea, Malaysians freed


  • English
  • Arabic

KUALA LUMPUR // The body of Kim Jong-nam will be sent to North Korea and nine Malaysians in Pyongyang will be allowed to leave, Malaysia prime minister Najib Razak said on Thursday.

North Korean citizens in Malaysia will also be allowed to return home, the statement said.

Kim, 45, the half-brother of North Korea’s leader Kim Jong-un, was poisoned at Kuala Lumpur International Airport on February 13 in a brazen Cold War-style assassination using a lethal nerve agent banned by the UN as a weapon of mass destruction.

“Following the completion of the autopsy on the deceased and receipt of a letter from his family requesting the remains be returned to North Korea, the coroner has approved the release of the body,” said Mr Najib.

The premier also announced that nine Malaysians barred from leaving North Korea after diplomatic ties worsened “have now been allowed to return to Malaysia”.

“They took off from Pyongyang today at 7.45pm Malaysian time, and will land in Kuala Lumpur tomorrow around 5am,” he said, without mentioning Kim by name, referring to hims only as “the deceased”.

“I had a deep personal concern about this matter, and we worked intensively behind the scenes to achieve this successful outcome. Many challenges were overcome to ensure the return of our fellow Malaysians. The safety and security of our citizens will always be my first priority,” he said.

North Korea also released a statement which said both countries managed to “resolve issues arising from the death of a DPRK national” in Malaysia at a meeting in Kuala Lumpur. DPRK stands for North Korea’s official name, the Democratic People’s Republic of Korea.

“The importance of bilateral relations was reaffirmed. In this connection, both countries agreed to positively discuss the re-introduction of the visa-free system and work towards bringing the relations to a higher level,” it said.

Malaysia imposed a travel ban on North Koreans leaving the South-east Asian country in a tit-for-tat move after Pyongyang barred Malaysians from leaving its borders. Mr Najib said on Thursday that North Koreans will now be allowed to leave Malaysia.

Two women, one Vietnamese and one Indonesian, have been arrested and charged with the murder. Airport CCTV footage shows them approaching the 45-year-old victim and apparently smearing his face with a piece of cloth.

South Korea has blamed Pyongyang for the killing, citing what they say was a standing order from the North Korean leaer to kill his exiled half-brother.

But the North denies it and has denounced Malaysia’s investigation as an attempt to smear the secretive regime.

* Agence France-Pressea and Reuters

if you go

The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.

The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.

 

 

'The Lost Daughter'

Director: Maggie Gyllenhaal

Starring: Olivia Colman, Jessie Buckley, Dakota Johnson

Rating: 4/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Roll of honour 2019-2020

Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain

West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership

UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes

UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II

UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby

UAE currency: the story behind the money in your pockets