Malaysian Ex-Prime Minister Ismail Sabri's family embroiled in controversy following bankruptcy declaration of ex-son-in-law
Jovian Mandagie, a former Malaysian and Indonesian fashion figure, has recently been declared bankrupt by the Kuala Lumpur High Court. The bankruptcy, which was announced in August 2023, is a result of Jovian's failure to repay a loan amounting to RM5.28 million (approximately US$1.25 million) to Cekap Air Sdn Bhd, a construction company.
The loan, extended verbally on February 25, 2022, was intended to be repaid within 12 months. However, Jovian was unable to meet his repayment obligations, leading to the bankruptcy declaration.
The loan dispute between Jovian and Cekap Air Sdn Bhd stemmed from a verbal agreement and was not a result of the COVID-19 pandemic. The current status of Jovian's businesses during the pandemic is not specifically detailed, but his bankruptcy declaration indicates significant financial challenges.
Jovian gained local prominence through his marriage to Nina, the daughter of Ismail Sabri Yaakob, a former Malaysian political figure who stepped down from office in August 2023. Interestingly, Ismail Sabri Yaakob's tenure in office was brief, lasting only 15 months, and his divorce with Jovian's wife, Nina, occurred less than a year after his resignation.
Initially, Cekap Air Sdn Bhd had no reason to question Jovian's credibility, considering he owned several businesses. However, the informal nature of the loan, which was described as a "friendly loan" given due to personal ties, appears to have contributed to the financial predicament Jovian now finds himself in.
Since the summary judgment was issued against Jovian in April 2023, ordering him to repay the loan, he has filed several applications to stay and strike out the bankruptcy notice and petition. However, these applications have been dismissed by the court. Jovian's appeal against the summary judgment is scheduled for September 15, 2025.
[1] The Star Online. (2023). Jovian Mandagie declared bankrupt over RM5.28m loan. Retrieved from https://www.thestar.com.my/news/nation/2023/08/25/jovian-mandagie-declared-bankrupt-over-rm528m-loan
[2] Free Malaysia Today. (2023). Jovian Mandagie's bankruptcy: Court dismisses his application to stay proceedings. Retrieved from https://www.freemalaysiatoday.com/category/nation/2023/05/23/jovian-mandagies-bankruptcy-court-dismisses-his-application-to-stay-proceedings/
[3] The Edge Markets. (2023). Jovian Mandagie's appeal against bankruptcy order to be heard in September 2025. Retrieved from https://www.theedgemarkets.com/article/jovian-mandagies-appeal-against-bankruptcy-order-be-heard-september-2025
- The bankruptcy of Jovian Mandagie, a former fashion figure, has raised questions in the realm of business, as his inability to repay a large loan points to potential financial missteps that can resonate beyond the world of fashion.
- The political arena has also been touched by Jovian's financial woes, as his connections to a former Malaysian political figure, Ismail Sabri Yaakob, have become a subject of general-news discussion, particularly given the brief tenure and subsequent divorce of his wife, Nina, from Ismail Sabri.
