Most Read
Most Commented
mk-logo
News
M’sian magnate denies FBI probe over Ivanka Trump deal
Published:  Mar 6, 2018 6:51 PM
Updated: 11:33 AM

Following a report alleging that the US Federal Bureau of Intelligence was investigating Ivanka Trump’s business dealings with Malaysian developer Tiah Joo Kim, the latter has denied being contacted by the American enforcer agency.

CNN previously claimed that the subject of the investigation was Tiah’s partnership with Ivanka in building the Trump International Hotel and Tower in Vancouver, Canada.

The building was launched after the US presidential inauguration of Donald Trump, Ivanka's father, which fuelled concerns over foreign funding of a presidential campaign.

Tiah, through his Malaysian company TA Global Berhad, clarified today that no American authorities had reached out to them about the project, and that all deals were inked prior to Trump’s announcement to run for office.

“TA Global and Tiah Joo Kim have not been contacted by the FBI or any other authority with regards to matters raised in the CNN media report.

“The brand licensing and hotel management agreements between the Trump Organisation, Holborn Group and TA Global Bhd for Trump International Hotel and Tower in Vancouver were entered into in March 2013, prior to Trump's announcement to run in the 2016 US (presidential) election,” said Tiah in a statement today.

Holborn Group is Tiah’s property development firm based in Vancouver, Canada. It operates the Trump International Hotel and Tower in Vancouver.

The US$360 million (RM1.41 billion approximately) tower in question rises 63 floors and houses 217 luxury residential units, 147 hotel rooms as well as a trademarked Ivanka Trump spa, according to the CNN report.

CNN also claimed that Ivanka had played a “key role” in negotiating the tower deal, and the FBI probe could possibly hamper her efforts in obtaining full security clearance as her father’s advisor at the White House.

Ivanka’s husband Jared Kushner had his security clearance downgraded following investigations into his dealings with the Russians.

Tiah, however, refuted any connection with Kushner.

Timing of deal

“Neither TA Global nor Tiah Joo Kim has had any interaction or business dealings with Jared Kushner whatsoever,” read the statement.

He also explained that while Ivanka had represented the Trump Organisation in the initial talks, her role in the project was "specifically on interior design”.

“Ivanka Trump’s design was utilised towards the development of Trump International Hotel and Tower in Vancouver.

“The entire development of (the tower) was funded by TA Global and Holborn Group,” he added.

Quoting two anonymous US officials, the CNN report had alleged that the FBI was scrutinising the “negotiations and financing” of the Vancouver tower.

“The timing of the deal, as one of the few Trump-branded properties to open since Trump took office, could be of interest. The flow of foreign money, either from the developer or international condominium buyers, could also be sparking scrutiny,” the report said.

Canadian daily The Vancouver Sun previously reported that one of the tower’s buyers had links to the Chinese government.

The Trump Organisation has earned more than US$5 million (RM19.5 million) in royalties and US$21,500 (RM84,247) in management fees from Holborn for the tower thus far, according to the report.

Ivanka resigned from the Trump Organisation in January last year, and became a staff member at the White House two months later.

ADS