Singaporean Kelvin Ang, charged in 1MDB probe, out on bail

Malaysia's iconic Twin towers in the backdrop of the 1 Malaysia Development Berhad (1MDB) logo at the Tun Razak Exchange under-development site in Kuala Lumpur. PHOTO: AFP

SINGAPORE - Singaporean Kelvin Ang Wee Keng, the second man charged in connection with the cross-border probe linked to the troubled state fund 1Malaysia Development Berhad, is out on bail of S$100,000.

Ang, 34, who was first charged on April 20 and had been in remand since, was granted early release on Monday (May 9) after the prosecution determined that he need no longer be in custody to assist with investigations.

Last Wednesday, he had been ordered to be remanded until May 11, but the case was heard two days ahead of schedule.

Ang was charged with corruptly giving a gratification of S$3,000 between 2013 and 2014 to research analyst Lee Chee Waiy to expedite preparation of a favourable valuation report to be issued by his firm.

"The Prosecution applied for an earlier mention, as investigators have assessed that further remand was no longer necessary for the purposes of investigations," the Attorney-General's Chambers (AGC) said in a statement.

"The Prosecution does not seek to remand accused persons for longer than is necessary," it added.

But the AGC stressed that investigations were not yet completed and Ang's assistance was still required.

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