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=MALAYSIA PRESS: News Headlines On Friday, July 12

KUALA LUMPUR (Jul 12) -- Here’s a roundup of local news:

*Mahathir's son ready to inherit Malaysia's political legacy

Mukhriz Mahathir, son of the current prime minister of Malaysia, says he is prepared to follow in his father's footsteps after the world's oldest leader hands over the premiership to his longtime political foe and now ally, Anwar Ibrahim. Mahathir Mohamad, who celebrated his 94th birthday on Wednesday, is facing rising pressure to pass the baton to Anwar, as agreed by the ruling coalition parties before the country's general election in May 2018. Mukhriz is the prime minister's fifth child and only political heir. He is currently the chief minister of the northern Kedah state. In an interview with the Nikkei Asian Review, he said he was open to assuming a bigger role in the federal administration, if the country's next leader wishes. - Nikkei Asian Review

*US Investigating Deutsche Bank’s Dealings With Malaysian Fund 1MDB

The sprawling, multibillion-dollar Malaysian development fraud scandal that has toppled a prime minister and stretched from Hollywood to Wall Street is threatening to implicate another major global financial institution: Deutsche Bank AG. The U.S. Justice Department is investigating whether the German lender violated foreign corruption or anti-money-laundering laws in its work for the 1Malaysia Development fund, which included helping the fund raise $1.2 billion in 2014. - The Wall Street Journal

- By Kuala Lumpur Newsroom;; +60320267363
- Edited by Glen Nicol Perkinson
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- Copyright (c) 2019 Nikkei NewsRise Asia Pte. Ltd.