1MDB, the Attorney General, Bank Negara Malaysia, the MACC and…?

Rumours about Bank Negara Malaysia Governor, Tan Sri Dr Zeti Akhtar Aziz, are just rumours.

Conference of Malay Rulers: Investigate 1MDB, punish the perpetrators…

1m1 minute ago

Kartun Zunar: Najib & Donkey

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5 March 2016

1MDB: Ke Mana US$4B? Skandal 4 benua, 11 negara. Kini disiasat 6 negara: Switzerland, US, UK, HK, Australia, S’pura

1 March 2016

How corruption, 1MDB & our PM are reported around the world, from Australia, HK, US to the UK.

Pressure mounting over 1MDB scandal

Posted 13 Feb 2016, 12:19am

Malaysia’s Government is under pressure over an alleged bribery scandal involving the country’s Prime Minister, Wall Street Journal finance editor Ken Brown says.

http://www.abc.net.au/news/2016-02-13/pressure-mounting-over-1mdb-scandal/7165550

tianchua: RT malaysiakini: What you should know about 1MDB-linked Avestra Asset Management? Read mor…

24 October 2015

Aussie authorities looking into businesses associated with 1MDB, says report

Aussie authorities looking into businesses associated with 1MDB, says report

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Australian authorities are investigating key players connected to controversial state-owned investment firm 1Malaysia Development Berhad (1MDB), The Australian reported today.

The daily said the Australian Securities & Investments Commission (Asic) had in December launched investigations into Avestra Asset Management, located at 2 Miami Key, Icon Corporate Park, which has become the centre of a full-scale probe.

Avestra, along with another company known as Bridge Global Securities, was linked to a Cayman Islands entity called Bridge Global Absolute Return SPC Fund (BGARF), which according to the report was used to cover up a US$2.23 billion hole in debt-ridden 1MDB.

In The Australian report, Bridge Global said it had not managed any Avestra funds since April 2013, adding that it was not aware that any shareholder funds invested in Bridge Global were associated with funds from 1MDB.

However, Bridge Global chairman Simon Lill was quoted as telling the daily that he “can’t rule out” an association between Bridge Global Absolute Return and 1MDB. – October 24, 2015.

– See more at: http://www.themalaysianinsider.com/malaysia/article/aussie-authorities-looking-into-businesses-associated-with-1mdb-says-report?utm_source=dlvr.it&utm_medium=twitter#sthash.4fVeahl2.dpuf

22 October 2015

MACC: We never denied diagram showing funds flowed to PM

MACC: We never denied diagram showing funds flowed to PM

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The Malaysian Anti-Corruption Commission (MACC) today said it never denied the authenticity of a flow diagram published by Malaysiakini on the money trail involving SRC International.

It also denied SRC International’s claim yesterday that MACC rubbished the authenticity of a draft charge sheet against Prime Minister Najib Abdul Razak.

Malaysiakini had published a diagram showing alleged flow of funds from the former 1MDB subsidiary into Najib’s account.

“The MACC denies SRC International’s claim.

“This is untrue because our Aug 3 statement did not make any reference to the draft charge sheet or the fund flows diagram, as claimed by SRC International,” MACC director of investigations Azam Baki said in a statement.

“We would like to remind SRC International or any others to never ever implicate MACC in their press statement because this will cause confusion.”

He said the probe was still ongoing and that SRC International should make its two directors, Nik Faisal Ariff Othman Kamil and Suboh Md Yassin, available for questioning.

https://www.malaysiakini.com/news/316701

1MDB was ordered to repatriate the funds after Bank Negara revoked three permissions granted to 1MDB under the Exchange Control Act 1953 (ECA) for investments abroad, totalling US$1.83 billion (about RM7.5 billion at the current exchange rate).

The repatriation was issued under the Financial Services Act 2013.

It came a day after the Attorney-General’s (AG’s) Chambers said it had ordered no further action against 1MDB twice, despite its investigation being based on the central bank’s probe and despite a second request from Bank Negara on Oct 1.

https://www.malaysiakini.com/news/315238

14 October 2015

NO, 1MDB, YOU’RE NOT IN THE CLEAR YET…

1MDB under police probe, clarifies MACC

9m9 minutes ago

1MDB under police probe, clarifies MACC

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The Malaysian Anti-Corruption Commission (MACC) today said that while the agency itself was not investigating 1Malaysia Development Bhd (1MDB), this did not mean that the state investment firm was not under any probe at all.

A statement this afternoon by MACC strategic communications director Datuk Rohaizad Yaakob reiterated that the government-owned firm was being investigated by the police instead.

The anti-graft agency was responding to 1MDB’s statement today in which it said it was no longer under investigation, following an explanation by the Attorney-General’s Chambers on why it was cleared of wrongdoing in relation to making inaccurate disclosures to secure permissions for overseas investments.

Referring to its September 22 press release, Rohaizad said the MACC had never said 1MDB was not under any investigation.

He said the statement clearly stated that MACC is not probing the state-owned investment vehicle, which had chalked up RM42 billion debts since it started operations in 2009.

“In the statement, MACC had said the 1MDB issue is fully investigated by the police and as such, any queries should be referred to the police. This is clear following the statement by the Inspector-General of Police yesterday.

“This had also been explained especially through another MACC press statement dated August 5, 2015.

“As such, MACC hopes there are no parties who make statements as though MACC had cleared the relevant parties in the 1MDB issue,” he added.

– See more at: http://www.themalaysianinsider.com/malaysia/article/1mdb-under-police-probe-clarifies-macc?utm_source=dlvr.it&utm_medium=twitter#sthash.sIz8dSd9.dpuf

After Attorney-General’s remarks, 1MDB says clearly no longer under investigation

emphasises that it is no longer being investigated after Attorney-General’s remarks

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, October 14, 2015

KUALA LUMPUR — 1Malaysia Development Bhd (1MDB) today (Oct 14) said the Attorney-General’s explanation of why the firm was not charged emphasises the fact that it is no longer being investigated.

The firm added that Mr Mohamed Apandi Ali’s press conference absolving 1MDB of breaching exchange laws compounds that of another enforcement agency that said it was not scrutinising the state-owned investment firm.

“This confirmation by the AGC reinforces the statement by the Malaysian Anti-Corruption Commission (MACC) on 22 September 2015 that 1MDB is not under investigation,” it said in a statement today.

It added that Apandi’s summary demonstrated that 1MDB adhered to the pertinent financial laws and confirmed that “no offence had been committed” by the firm.

http://www.todayonline.com/world/asia/after-attorney-generals-remarks-1mdb-says-clearly-no-longer-under-investigation

Goldman exposed to Malaysia’s 1MDB fund scandal

Goldman Entangled in Scandal at Malaysia Fund 1MDB

FBI and Justice Department gather information about bank’s role in transactions at 1Malaysia Development

Oct. 14, 2015 12:01 a.m. ET

Goldman Sachs Group Inc.’s role as adviser to a politically connected Malaysia development fund resulted in years of lucrative business. It also brought exposure to an expanding scandal.

emphasises that it is no longer being investigated after Attorney-General’s remarks

Yesterday, the AG responded to Bank Negara Malaysia’s revelation that 1MDB violated the Exchange Controls Act (ECA), and pointed out that the central bank did not take any action against the firm over incidents it now said was in breach of the law.

He further noted that BNM had allowed 1MDB’s transactions to proceed despite being informed of deviations from its approval.

Last week, the central bank revoked three approvals for 1MDB to invest US$1.83 billion (RM7.7 billion) abroad due to failures to make mandatory declarations, and ordered it to repatriate the funds.

BNM also added that it had pressed Apandi’s office to prosecute 1MDB for violations.

http://www.todayonline.com/world/asia/after-attorney-generals-remarks-1mdb-says-clearly-no-longer-under-investigation

12 October 2015

Abu Kassim to meet IGP, Zeti on 1MDB taskforce

Zikri Kamarulzaman     Published Today 6:38 pm     Updated Today 6:54 pm

Malaysian Anti-Corruption Commission (MACC) chief Abu Kassim Mohamed said he wants to meet with the other chiefs in the special taskforce probing 1MDB.

“I don’t mind if there is a meeting, and I do want to meet with the taskforce chiefs,” he said when asked about Attorney-General Mohamed Apandi Ali’s remark that the taskforce has never been dissolved or disbanded.

Abu Kassim however did not say when he plans to meet with inspector-general of police Khalid Abu Bakar and Bank Negara governor Zeti Akhtar Aziz.

Speaking to reporters at the Anti-Corruption Academy today, he also disclosed that he will resume work tomorrow.

https://www.malaysiakini.com/news/315500

1MDB task force not disbanded, says AG’s Chambers

Published 8 Oct 2015, 3:52 pm     Updated 8 Oct 2015, 5:03 pm

The special task force investigating 1MDB has never been dissolved or disbanded, said the Attorney-General’s Chambers.In a statement today, the AG’s Chambers added it had not made any statement to that effect.

“In fact the investigations conducted by the respective agencies were never at any time halted or hindered.

“The attorney-general has been constantly monitoring and giving instructions to the relevant agencies whenever the investigations were referred to the AGC, including instructions to expedite investigations.

“As of today, the police and Malaysian Anti-Corruption Commission (MACC) have not completed their investigations, as some key witnesses’ statements have yet to be recorded.”

The AG’s Chambers was responding to the Conference of Rulers which called for investigations into the matter to be expedited and for the wrongdoers, if any, to be punished.

The Chambers’ stand appeared to be in contradiction with a statement issued by MACC on Aug 5, which said the special task force is no longer needed, as advised by newly-appointed attorney-general Mohamad Apandi Ali.

“The attorney-general advised that there is no need for the special task force. On the other hand, the investigating agencies can do their job based on the provision of the law (for their own respective agencies).

Dr M joins foe Ku Li, ex-big guns to blast persecution of Khairuddin

Dr joins foe Ku Li, big guns to blast persecution of

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Former Umno rivals Dr Mahathir Mohamad and Gua Musang MP Tengku Razaleigh Hamzah are united in expressing concern over the government’s persecution of former Batu Kawan Umno vice-chief Khairuddin Abu Hassan and lawyer Mathias Chang related to 1MDB.

The two are holding a joint press conference in Putrajaya with other former ministers including former deputy prime minister Muhyiddin Yassin, former rural development minister Shafie Apdal, both of whom had been dropped from Prime Minister Najib Abdul Razak’s cabinet

Also present were former Kedah menteri besar and former agriculture minister Sanusi Junid and former MCA president Ong Tee Keat.

https://www.malaysiakini.com/news/315415

Malaysian Insider

BN veterans join Dr Mahathir in 1MDB battle

zaFormer prime minister Tun Dr Mahathir Mohamad together with Barisan Nasional leaders at a press conference at the Perdana Leadership Foundation today. Dr Mahathir and the BN leaders are denouncing 1Malaysia Development Berhad (1MDB) critics Datuk Seri Khairuddin Abu Hassan and Matthias Chang. – The Malaysian Insider pic, October 12, 2015.

Several Barisan Nasional (BN) leaders joined Tun Dr Mahathir Mohamad today to speak out against the detention of two men linked to the former prime minister in a campaign against debt-laden 1Malaysia Development Berhad (1MDB).

Among them were Umno deputy president Tan Sri Muhyiddin Yassin, party vice-president Datuk Seri Shafie Apdal, Gua Musang Umno chief Tengku Razaleigh Hamzah, former Umno secretary-general Tan Sri Sanusi Junid and former MCA president Tan Sri Ong Tee Keat.

Dr Mahathir is holding a press conference now at the Perdana Leadership Foundation on the fate of his former aide, lawyer Matthias Chang and Umno man Datuk Seri Khairuddin Abu Hassan.

– See more at: http://www.themalaysianinsider.com/malaysia/article/bn-veterans-join-dr-mahathir-in-1mdb-battle?utm_medium=twitter&utm_source=twitterfeed#sthash.ziAvZEPj.dpuf

Happening now, PC by Tun Dr Mahathir Mohamad. Pix courtesy

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Also present at the Perdana Leadership Foundation were sacked UMNO leader Anina Saaduddin and former NST chief TS Kadir Jasin.

TS Razaleigh Hamzah arrived at the Perdana Leadership Foundation where Tun Dr Mahathir Mohd is giving a PC.

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….

Tun Dr Mahathir’s press conference at Perdana Leadership Foundation due to begin.

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11 October 2015

Umno VP: Don’t insult us, bring 1MDB wrongdoers to book

Published Today 5:48 pm     Updated Today 6:22 pm

Umno vice president Shafie Apdal today upped the ante on 1MDB by calling for legal action against those responsible for the fallout.

He says even though 1MDB is going through a debt rationalisation process, the nation is already paying the price through poor economic sentiments.

1MDB’s argument that all is well because its asset exceeds liabilities is also an “insult”, he said, since the state investment firm is unable to pay its debts.

“Although debt rationalisation is in progress, we must also never forget that because of lack of transparency and good governance. The nation is paying a heavy price.

“Those responsible should be brought to book and must apologize to the rakyat,” he said in a statement issued to Malaysiakini.

https://www.malaysiakini.com/news/315372

10 October 2015

Malaysiakini

Pua: 1MDB has assets abroad, so why the excuses?

Published Today 12:14 pm

Despite 1Malaysia Development Bhd (1MDB) indicating that it is unable to repatriate US$1.83 billion in funds, DAP parliamentarian Tony Pua believes the company has the assets to do so.

“1MDB has the assets to repatriate US$1.83 billion and must do so immediately to comply with the Bank Negara Malaysia directive,” he said in a statement today.

Pua however said 1MDB does not seem to understand that Bank Negara has issued a direct order to execute the repatriation of funds, and is no longer merely seeking an explanation.

“It means that 1MDB has to, by all means necessary, including the disposal of 1MDB’s overseas assets or even terminating existing agreements, to comply with the directive.

“When the police issues a warrant of arrest for you, you don’t give the excuse that you have already explained the alleged crime to the police and therefore you don’t have to turn yourself in.

“Similarly, when Bank Negara issues a directive for the repatriation, you don’t respond by telling the Bank, ‘sorry, I’ve used up the money’,” said Pua.

Pua, citing 1MDB’s March 2014 financial statement, said it was clear that the company has RM13.34 billion of “available for sale” investments held overseas.

“That represents US$3.6 billion of ‘available for sale’ assets held overseas.

“That means that even if it is true that 1MDB has actually used up all of the US$2.318 billion as claimed, there is still a balance of US$1.282 billion which can be repatriated.

“Why isn’t 1MDB repatriating this money? Is it because it is missing too?” he asked.

As for 1MDB’s claim that the US$2.318 billion was “substantially utilised”, Pua said this must be challenged as the sum was never redeemed, contrary to 1MDB’s disclosure in the 2014 financial statements and its press statement in January this year.

Malaysiakini

1MDB unable to repatriate US$1.83b ordered by Bank Negara

Published 9 Oct 2015, 10:49 pm     Updated Today 12:08 am

1MDB has indicated that it would be unable to repatriate US$1.83 billion in funds as demanded by Bank Negara.

This is because the funds have either been spent or earmarked for a debt transfer.

“The overseas investments of US$1.83 billion relates to historic equity and murabaha loan investments in a joint venture with PetroSaudi in 2009 – 2011, that was eventually converted in September 2012 into fund units valued at US$2.318 billion.

“As previously explained by 1MDB to Bank Negara, this sum of US$2.318 billion has been redeemed in 2014 and 2015, with proceeds being substantially utilised.

“The remaining US$940 million of fund units, are guaranteed by Aabar and have been ear-marked for a ‘debt for asset swap’ with its ‘AA’ rated parent, IPIC, as part of the 1MDB rationalisation plan,” it said in a statement tonight.

9 October 2015

Malaysiakini

BNM revokes approvals for 1MDB’s RM7.5b fund transfers

KINIBIZ     Published 9 Oct 2015, 4:15 pm     Updated 9 Oct 2015, 11:14 pm

Bank Negara Malaysia revoked three permissions granted to 1MDB under the Exchange Control Act 1953 (ECA) for investments abroad totalling US$1.83 billion (about RM7.5 billion at the current exchange rate).The central bank said in a statement that it also issued a directive under the Financial Services Act 2013 to 1MDB to repatriate the amount of US$1.83 billion to Malaysia and to submit a plan to it for this purpose.

The statement was made in response to a statement by the attorney-general that 1MDB had done no wrong with respect to the investigation by Bank Negara into 1MDB.

Malay Mail Online

Dr M: AG’s refusal to charge 1MDB questionable

KUALA LUMPUR, Oct 9 — The Attorney-General’s repeated rejection of Bank Negara Malaysia’s recommendations for action against 1 Malaysia Development Bhd (1MDB) circumvents the rule of law, Tun Dr Mahathir Mohamad said today.

The former prime minister acknowledged that while it was the AG’s prerogative to decide what cases to prosecute, he should have allowed a court to judge the merits of the case given that BNM twice recommended prosecution for 1MDB’s alleged violation of financial laws.

He said this move was also vital as the Attorney-General did not specify why he chose to reject BNM’s recommendation both times.

“By dismissing this case, suspicions will remain in the minds of the people. In fact people are thinking that the decision of the AG may not be by the AG,” Dr Mahathir wrote in a blog post today.

He said the apparent bias was made more obvious by authorities’ readiness to employ anti-terrorism laws to detain critics of the state-owned investment firm.

Yesterday, the AGC revealed that it twice rejected BNM’s recommendations for action against 1MDB after finding no wrongdoing committed by any of the state-owned firm’s officials.

It added that news reports between September 12 and yesterday claiming BNM’s investigation papers are still in the AGC’s hands are “inaccurate and not true”.

– See more at: http://www.themalaymailonline.com/malaysia/article/dr-m-ags-refusal-to-charge-1mdb-questionable?utm_medium=twitter&utm_source=twitterfeed#sthash.rTu3rs0P.dpuf

Malay Mail Online

1MDB acknowledges Bank Negara’s right to revoke earlier permissions

KUALA LUMPUR, Oct 9 — 1Malaysia Development Bhd (1MDB) fully acknowledges and respects Bank Negara Malaysia’s (BNM) right to revoke its earlier permissions and issue any direction it deems fit under the Financial Services Act 2013.

This is despite the Attorney-General’s Chambers (AGC) confirming that no offence had been committed by 1MDB officials.

“1MDB commits to cooperate and continue engaging with BNM, to address their concerns and seek a viable resolution of this outstanding matter,” it said in a statement here today.

According to 1MDB, since commencement of BNM investigations in June 2015, the current management and board had fully cooperated, which resulted in investigation papers being submitted to the AGC.

Apart from submitting written answers and sharing relevant documents, 1MDB board members, current and former staff were interviewed by BNM, with detailed witness statements being recorded.

BNM clarified today that it recommended criminal proceedings to the AGC for reasons of “… inaccurate or without complete disclosure of material information …”.

1MDB said it was not for money laundering or other alleged criminal actions as highlighted by certain media and opposition politicians.

It added, the AGC had however, as the legitimate authority for such matters, decided that there was “no offence committed by 1MDB officials” and directed that “no further action should be taken”.

“Notwithstanding this direction by the AGC, BNM has issued a direction for 1MDB to repatriate a sum of US$1.83 billion.

– See more at: http://www.themalaymailonline.com/malaysia/article/1mdb-acknowledges-bank-negaras-right-to-revoke-earlier-permissions#sthash.gJK8zNlM.dpuf

Malay Mail Online

AGC confirms binned two Bank Negara requests for action in 1MDB case

KUALA LUMPUR, Oct 8 – The Attorney-General’s Chambers (AGC) revealed today that it rejected Bank Negara Malaysia’s (BNM) recommendations for action against 1Malaysia Development Berhad (1MDB) twice after finding no wrongdoing committed by any of the state-owned firm’s officials.

In a statement, the AGC said BNM first submitted its investigation papers on August 21 and that upon studying the bank’s findings, it found that no further action was necessary.

The papers were subsequently returned to BNM on September 11, and the decision communicated to the bank the same day, it said.

On October 1, however, the AGC said BNM issued a letter of request, seeking a review of the decision.

“Having considered the request and the fact that there was no new evidence made available, the Attorney General decided to maintain the decision made earlier,” the AGC said.

– See more at: http://www.themalaymailonline.com/malaysia/article/agc-confirms-binned-two-bank-negara-requests-for-action-in-1mdb-case#sthash.DHUsNVOu.dpuf

8 October 2015

Free Malaysia Today

AG gives clean chit to 1MDB officials on BNM report

October 8, 2015

No further action would be taken in the matter, says AG.

KUALA LUMPUR: The Malaysian attorney general’s office said on Thursday it had reviewed the report of a central bank investigation into troubled state fund 1MDB and decided that fund officials had not committed any offence.

The statement comes in response to rare intervention in public affairs by Malaysia’s royal rulers who called for a quick and transparent investigation into 1Malaysia Development Berhad (1MDB), adding pressure on the scandal-hit government of Prime Minister Najib Razak.

A central bank investigation into the fund was completed and a report on it was handed to the attorney general, the Attorney General’s Chambers said in the statement.

After a review, it was decided that no offence had been committed by the 1MDB officials, it said.

“No further action would be taken in the matter,” it said.

The decision had been communicated to the central bank in September and a central bank request for a further review of the decision had been rejected as no new evidence was provided.

http://www.freemalaysiatoday.com/category/world/2015/10/08/msia-prosecutor-gives-clean-chit-to-1mdb-officials-on-bank-report/

This entry was posted in 1MDB, AG, attorney general: 1MDB no prosecution, BNM, BNM recommends prosecution of 1MDB, MACC, mahathir, najib razak and tagged , , , , , . Bookmark the permalink.

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