Tedy Teow, a.k.a “Jho Low 2”, DAP’s financier and conman revealed

Tedy Teow, a.k.a. “Jho Low 2”, the disgraced Penang billionaire, is not only DAP’s financier, but he also helped transfer Lim Guan Eng’s ill-gotten gains to overseas banks. Tedy Teow is said to have helped hide DAP’s money in Hong Kong to the tune of hundreds of millions of USD. Tedy Teow’s link to the Penang State Government and to DAP’s leaders is well-known amongst the local business circle.


Raja Petra Kamarudin

The rise and fall of Tedy Teow’s empire

(The Star) – In 2011, Teow and his son Chee Chow were sentenced to a day’s jail and fined RM160,000 after admitting to two counts of cheating and misleading investors of more than RM1mil in the Island Red Cafe scheme in 2010.

Not long after came MBI. It took Penang by storm with offers of “lucrative” returns and was big news in 2015.

Teow was then director of Mface International Bhd and MBI Marketing Sdn Bhd, two companies under the MBI group.

The company set up M Mall 020 in Jalan Datuk Keramat as its headquarters. The mall had several convenience stores which sold its own brand of body lotions, shampoo products and general trading.

Members could use digital currency called Mcoin to buy and redeem stuff from M Mall.

The company even launched its own line of MBI International smartphones then.

MBI also had a chain of hotels including one in Jalan Sultan Ahmad Shah and a Chinese restaurant in Jelutong. It also operated an e-hailing service called MULA car.

MBI’s popularity skyrocketed and there was a huge development project next to the Penang International Airport called Mpire Residences being proposed. It never materialised.

The company spread its wings to Kedah with a housing project in Kulim called MBI Desaku.

Teow turned philanthropist when he set up MBI Charity 100, a social responsibility effort by MBI Group to help the poor and the needy. The objective was to hold 999 charity events each year.

But in 2017, Teow’s world came crashing down. M Mall was raided by police, while 91 bank accounts linked to MBI International were frozen. The accounts held RM177mil.

Teow would later face two charges of issuing unrecognised payment instruments. In 2018, he was fined RM2.5mil and RM3mil by Bank Negara for financial irregularities.


MBI Group is everywhere in Penang

(The Star) – MBI Group Inter­national enjoys a strong presence with a huge following in Penang.

Its logo can be seen in various places such as bus stops and tour buses plying the roads here.

Passengers at Penang Interna­tional Airport in Bayan Lepas are greeted with the firm’s logo emblazoned on the aerobridge.

The M Mall here, where members convert their virtual coins to loyalty points to buy groceries, household products and even cars, is open for business.


Tedy Teow rubs shoulders with DAP leaders and is a key financier of DAP



MBI boss Tedy Teow charged with money laundering in Thailand

(FMT, July 2022) – Malaysian businessman “Tedy” Teow Wooi Huat is reported to have been arrested by police in Thailand and charged with money laundering in connection with online gambling.

The Bangkok Post said Teow, 55, founder of the MBI Group, was arrested earlier today at the company’s headquarters in Dan Nok, near the Sadao border checkpoint.

The report said investigators found that Teow was linked to online gambling dens in Songkhla, Nakhon Si Thammarat and other southern provinces.

He was charged with laundering money in connection with online gambling in southern Thailand, said Surachate Hakparn, assistant to the national police chief, the report said.

MBI Group operates an entertainment complex, including a resort, on a 100-rai site (16 hectares, or 40 acres) at Dan Nok. His company MBI International Sdn Bhd also operates several businesses in Malaysia including a mall in Penang.

Teow was previously arrested by Malaysian police in 2017 on drug charges but appeared to have been released, the report said.

The Bangkok Post described Teow as “Jho Low 2”

The Bangkok Post described Teow as having been dubbed “Jho Low 2”, in reference to Penang-born fugitive businessman Low Taek Jho, or Jho Low who has been accused of siphoning money from 1MDB.

Teow is also from Penang. Last year, he and his two sons, Teow Ee Meng and Teow Chee Chow, were reported to be wanted in connection with a Macau scam syndicate that bought property totalling up to RM336 million.

In 2018, Teow was fined RM3 million and MBI International RM2.5 million for using unauthorised payment instruments.

A subsidiary company was fined RM7 million over a pyramid scheme and RM2.5 million over an unauthorised payment instrument. A director of the company was fined RM5 million under the money laundering act.



Chronology of Events on the Development of MBI 

Chronology of Events in Relation to MBI Group 

Penyata Rasmi Mesyuarat Dewan Undangan Negeri Pulau Pinang: 23 Mei 2017