KUALA LUMPUR — Branded “Jho Low 2.0” by online critics and now publicly sought by the Malaysian Anti-Corruption Commission (MACC), former economy ministerial aide James Chai has hit back, insisting he neither influenced nor profited from the government’s RM1.1 billion semiconductor collaboration with UK-based Arm Holdings.
Chai issued a statement today, vehemently denying any influence or personal gain from the deal, which was signed in March 2025. He clarified, “I am not Jho Low 2.0,” referring to the notorious fugitive financier of the 1MDB scandal.
The MACC recently sought information on Chai’s location as part of an ongoing investigation into the deal. However, the agency has not publicly disclosed the specific allegations under scrutiny.
In his statement, Chai provided an 11-point timeline, stressing that the Arm collaboration was initiated and approved at the highest government levels. He explained that the engagement began when Arm’s representatives met Prime Minister Datuk Seri Anwar Ibrahim at the KL20 technology conference in April 2024. Following this, he was tasked with exploring policy aspects of the collaboration.
The proposal was presented to the Cabinet three times, with the final agreement publicly announced by Anwar on February 28, 2025, and signed on March 5, 2025, in an event attended by senior ministers and Arm CEO Rene Haas. Chai emphasised that he had no decision-making power in the process. “I did not influence the prime minister, the Cabinet, and the entire government machinery to sign the Arm Limited deal so I could get a job,” he stated.
Chai acknowledged his role in a two-month transitional position with Arm following his resignation from the ministry in June 2025. However, he insisted that this occurred only after the deal was finalised, maintaining that there was no misconduct involved.
He further challenged the MACC to prove that he acted with bad intentions, manipulated the approval process, or personally benefited from the agreement. “I had none,” he affirmed.
Chai also criticised the public notice issued by the MACC, suggesting that authorities could have contacted him directly through his former colleagues or social media platforms. He clarified that he is currently based in the United Kingdom, working on artificial intelligence policy, and denied any attempt to evade investigators.
In a broader statement, Chai suggested that the online attacks against him were part of a coordinated campaign to paint him as central to an alleged misappropriation of RM1.1 billion. “This is not about coming after James Chai specifically. It is about coming after people like me,” he said, alleging the investigation was politically motivated.
Rafizi Ramli, who served as Malaysia’s economy minister alongside Chai, has previously dismissed the accusations related to the Arm deal, asserting he would pursue legal action should the investigation fail to lead to formal charges.
The MACC has not yet responded to Chai’s statement. – March 4, 2026