25 September 2018
14 September 2018
MCA Deputy President Datuk Wee Ka Siong said yesterday that the Barisan Nasional can kiss government and political power goodbye if there is a UMNO-PAS hook-up as 141 parliamentary seats (85 in Peninsular Malaysia and 56 in Sabah/Sarawak) out of a total of 222 parliamentary seats in Malaysia have more than 35% voters who are non-Malays and in such a UMNO/PAS hook-up, the non-Malay voters would be driven towards Pakatan Harapan.
Wee is not strictly correct as there are over 20 parliamentary constituencies in Peninsular Malaysia where the predominantly Malay voters exceed 65% and they had elected Pakatan Harapan parliamentarians in the 14th General Election on 9th May 2018.
In any event, Wee have the least political credibility to forecast the future or he would not have entered into an MCA/UMNO/PAS unholy alliance in the recent Balakang and Seri Setia by-elections in Selangor.
I would say that MCA, UMNO, BN and even PAS can kiss their future goodbye if their leadership are not prepared to apologise and repent for aiding and abetting former Prime Minister, Datuk Seri Najib Razak in the international 1MDB corruption and money-laundering scandal which transformed Malaysia into a global kleptocracy!
Their apology and repentance is now all the more imperative with the law enforcement agencies closing in and the 1MDB chickens coming home the roost.
Even Najib is making the unprecedented step of conducting a pre-trial defence through the media (although he objected to a trial by media) with the most novel and unbelievable claim that the US$681 million (RM2.6 billion) in his personal accounts were “contingency funds” from the king of Saudi Arabia, allegedly channelled through what he claimed was one of the latter’s companies, Tanore Finance Corporation.
This is a most peculiar time for Najb to come out with such a novel defence – when the Malaysian public can easily find answers to the 1MDB conundrum through two books on the 1MDB available in the bookshops – Clare Rewcastle Brown’s “The Sarawak Report – the Inside Story of the 1MDB Expose” and “Billion Dollar Whale” by two journalists from Wall Street Journal, Tom Wright and Bradley Hope.
I met Wee at the Subang Airport lounge yesterday and I showed him a copy of “Billion Dollar Whale” which I was reading.
I was surprised that he showed the least interest in the book on how a Penangite “fooled Wall Street, Hollywood and the World”” – as well as 30 million Malaysians – as if he knew all along about the enormity of the 1MDB scandal, as well as the financial scams and scandalous escapades of 1MDB mastermind Jho Low.
All MCA and UMNO leaders – PAS as well – at all levels of their leadership should get a copy each of Clare’s “The Sarawak Report” and Tom Wright and Bradley Hope’s “Billion Dollar Whale”” so that they can forcefully demand that all political leaders during Najib’s premiership who aided and abetted in the “kleptocracy at its worst”” scandal should now apologise and repent for their dereliction of duty to defend and uphold the best interests of the nation.
(Media Statement by DAP MP for Iskandar Puteri Lim Kit Siang in Kuala Lumpur on Friday, 14th September 2018)
16 August 2018
15 August 2018
9 June 2018
1MDB: SRC director given witness protection after turning himself in
EXCLUSIVE | Suboh Mohd Yasin, a director of former 1MDB subsidiary SRC International Sdn Bhd, has been given full witness protection after surrendering himself to authorities.
Malaysiakini understands that the MACC had met him in Indonesia and recorded his statement there late last month with the help of its Indonesian counterparts.
“We met him three years ago, but he was not cooperative at the time, as then-prime minister Najib Abdul Razak was still in power.
“Now he (Suboh) is assisting investigations following the fall of Najib in the last general election, and we managed ‘to free him’ from (SRC director) Nik Faisal Ariff Kamil, who is still at large.
“Now Suboh is given full witness protection,” said a source within the MACC.
Nik Faisal, who is also a director of SRC International, is still at large and was said to be either in London, China or Indonesia.
However, the source stated that they have already identified the location of Nik Faisal and fugitive Jho Low, and are seeking Interpol’s help to bring them in.
The MACC had on Thursday stated they were seeking Nik Faisal and Low over its probe into the company.
KENYATAAN MEDIA RASMI SPRM: KES SRC INTERNATIONAL: DUA INDIVIDU PENTING DIMINTA HUBUNGI SPRM BANTU SIASATAN
24 May 2018
Najib govt used money raised from Khazanah to pay 1MDB dues, sources say
KUALA LUMPUR, May 24 — The government of former Malaysian Prime Minister Datuk Seri Najib Razak used money raised from a deal with sovereign wealth fund Khazanah Nasional Berhad to pay for some of the liabilities of state fund 1Malaysia Development Berhad (1MDB), two sources told Reuters.
Khazanah paid the government RM1.2 billion in mid-2017 in exchange for redeemable shares that the finance ministry owned, the sources said, adding that the funds were used to pay some of 1MDB’s dues to Abu Dhabi fund IPIC.
1MDB had agreed to pay US$1.2 billion (RM4.7 billion) to IPIC as part of a settlement agreement reached in April 2017 after 1MDB defaulted on its bonds.
The finance ministry did not immediately respond to requests for comment.
Khazanah told Reuters in an e-mail that the Ministry of Finance exercised its right in August 2017 to redeem outstanding Redeemable Convertible Cumulative Preference Shares amounting to RM1.2 billion , which were issued to the ministry in 2011.
However, it did not comment on whether the funds were used for repaying 1MDB’s dues.
Najib’s government also used about US$500 million raised from a land sale agreement with the central bank to pay some of 1MDB’s liabilities to IPIC, Reuters reported earlier. — Reuters
WSJ: Najib govt used BNM to pay RM2b of 1MDB debts
KUALA LUMPUR, May 24 — The defeated Barisan Nasional government allegedly made Bank Negara Malaysia pay US$500 million (RM2 billion) of 1Malaysia Development Bhd’s (1MDB) debt, according to sources who knew of the deal.
The Wall Street Journal reported today that 1MDB was in financial distress late last year and lacked the cash flow needed to pay the sum owed to Abu Dhabi’s International Petroleum Investment Company (IPIC).
The allegation corroborates Finance Minister Lim Guan Eng’s revelation that 1MDB cannot meet its debt obligations on its own, and needed the Finance Ministry to pay nearly RM7 billion of its debt and interests last year.
According to the WSJ report, funds that 1MDB claimed originated from its sale of power plants as part of its “rationalisation programme” had come instead from BNM through a land deal.
The WSJ’s revelation is the latest in the sordid scandal surrounding 1MDB, the extent of which is horrifying Malaysians and the new Pakatan Harapan administration.
Aside from the RM7 billion spent in 2017 alone to pay off 1MDB’s debts, Lim met with executives and officials of the state investment firm yesterday and came away with the conclusion that the firm was effectively insolvent.
He reserved the harshest comments for 1MDB president Arul Kanda Kandasamy who confidently went on a roadshow ahead of the general election to convince Malaysians that the 1MDB issue was resolved and that no wrongdoing was involved.
However, in his meeting with Lim yesterday, the minister said Arul claimed to have no idea about the condition of the firm’s finances or whether the billions of ringgit in “units” even existed, despite previous insistence that these existed and were redeemed.
Lim later dubbed Arul Kanda “utterly dishonest and untrustworthy.”
Swiss national, Xavier Justo who’s former PetroSaudi Intl arrived at MACC just before 9 am to continue have his witness statement recorded . Mr Najib’s scheduled appointment is at 10 am .
22 May 2018
New MACC chief recalls threats to life during 1MDB probe
Mohd Shukri Abdull says he was told by intelligence sources that he would be arrested and locked up on accusations of conspiring to bring down the government.
KUALA LUMPUR: The head of Malaysia’s anti-graft commission gave an emotional account today of how he was harassed and threatened in 2015 while investigating the 1MDB state fund, and said that on one occasion a bullet was sent to his home.
Mohd Shukri Abdull was speaking after ousted prime minister Najib Razak arrived at the headquarters of the Malaysian Anti-Corruption Commission (MACC), which has ordered him to explain a suspicious transfer of US$10.6 million (RM42 million) into his bank account.
Shukri told a news conference he had called Najib into the agency to record a statement, not to arrest or charge him.
The MACC action is just the beginning of a new probe into the alleged theft of billions of dollars from 1MDB, a scandal that dogged the last three years of Najib’s near-decade-long rule and was one of the main reasons why voters dumped him in a general election on May 9.
“We had our own intelligence sources, that I would be arrested and locked up, because I was accused of being part of a conspiracy to bring down the government,” Shukri told a news conference, shedding tears briefly during his opening remarks.
“We wanted to bring back money that was stolen to our country. Instead, we were accused of bringing down the country, we were accused of being traitors.”
21 May 2018
Will 1MDB task force re-visit Zahid’s claim of meeting Arab donor?
The Prime Minister’s Office announced this afternoon that a task force has been formed to investigate the 1MDB scandal.
Among others, it has been entrusted with prosecuting wrongdoers if its investigations reveal criminal elements and to retrieve funds related to 1MDB.
Prime Minister Dr Mahathir Mohamad had often claimed that the RM2.6 billion in his predecessor’s bank accounts originated from 1MDB which international investigations, including the US Department of Justice’s (DOJ) civil forfeiture suits, appeared to have corroborated.
Najib Abdul Razak, however, maintained the sum was a no-strings-attached donation and that he had never abused public funds for personal gain.
Attorney-general Mohamed Apandi Ali also confirmed this but Mahathir has accused him of concealing evidence related to the 1MDB scandal, which he denied.
Now as the task force re-opens the case which Apandi had shut, it remains to be seen if former deputy premier Ahmad Zahid Hamidi would be among those summoned to shed some light.
This is because on Aug 22, 2015, Zahid had told the Sri Gading Umno division in his speech that he had met the wealthy Arab family which made the purported donation.
Apart from this, Zahid, who is now the acting president of Umno, claimed he met the investment officer of the Arab family as well.
According to the former deputy premier, the investment officer had explained that the first US$100 million was given via a cheque under Najib’s name and the rest through other channels.
“I saw the documents myself – the original documents, not photostated ones, and I also saw the money trail,” he added.
Rewcastle-Brown: Murdered DPP Kevin Morais was my informant
PETALING JAYA, May 21 — Sarawak Report editor Clare Rewcastle Brown asserted that murdered Senior Deputy Public Prosecutor, Kevin Morais, was the man who leaked the information about the Attorney-General Chamber’s (AGC) investigation over misappropriation at former 1MDB subsidiary SRC International.
Rewcastle-Brown told Malay Mail in an interview that “several credible sources” told her it was Morais who fed her the information about the investigation and leaked what was allegedly a charge sheet against former prime minister Datuk Seri Najib Razak.
“I believe it was Kevin Morais,” the London-based Sarawak Report editor said when asked how she had acquired the highly confidential information.
“I checked with several credible sources and… I believed it was Morais,” she added.
Three years ago Morais’ brother, Charles, issued a statutory declaration alleging his brother was responsible for drafting the charge sheets against Najib and that he had then sent copies of those charge sheets to Sarawak Report.
16 May 2018
PETALING JAYA: Poor corporate governance and internal controls within troubled 1MDB led to instances where management action and board decisions were not organised properly, said the Auditor-General in its executive summary of the 1MDB audit report.
In its report, the Auditor-General said that 1MDB’s rationalisation plan – assuming there are no new loans after October 2015 – estimated that RM42.26bil was needed to pay the principal and interest that will be due between November 2015 and May 2039.
Those failures were among a litany of issues pointed out by the Auditor-General in its report dated May 15, 2018.
The Auditor-General said that part of its land assets will have to be developed to grow its value and to give 1MDB a return in the future.
The report also said the cash flow analysis between 2010 and 2014 revealed that 1MDB generated only RM1mil in cash. The small amount in cashflow showed the instability of the company because it needed to borrow to pay for its activities.
Between 2010 and 2014, 1MDB obtained 17 loans with a nominal value of RM42.88bil and received RM39.17bil in cash.
However, the activities that was financed from borrowings did not generate sufficient cashflow to pay back those loans.
In the Auditor-General’s findings, the department concluded that the overall corporate best practices and controls within the 1MDB group were less than satisfactory.
15 May 2018
AG ignored evidence Najib received 1MDB funds, probe panelists claim
The MACC found evidence in late 2015 that RM42 million (US$10.6 million) was transferred from a former subsidiary of state fund 1MDB into an account of the then prime minister Najib Abdul Razak, but its recommendation for further investigation was rejected by the attorney-general, a member of a panel that reviewed the commission’s case files told Reuters.
Najib, who was ousted in a shock election loss on May 9, has consistently denied wrongdoing in connection with alleged graft involving 1MDB, and insisted US$681 million (about RM2.6 billion) of funds deposited in his personal bank account were a donation from a Saudi royal. The US$10.6 million would be in addition to that sum.
Newly elected Prime Minister Dr Mahathir Mohamad, who was sworn in on Thursday, has vowed to investigate the 1MDB scandal and take action against those who may have abetted or benefited from corruption at the fund. At least six countries, including the United States and Switzerland, are investigating claims that US$4.5 billion was allegedly siphoned off from 1MDB.
In an interview with Reuters, panel member Lim Chee Wee said then attorney-general, Mohamed Apandi Ali, had been presented with evidence by MACC at the end of 2015 that Najib had received the US$10.6 million from 1MDB unit SRC International.
Apandi, who was replaced as attorney-general on Monday, declined to probe further, Lim said.
“AG refused to investigate further despite evidence suggesting that Najib received directly or indirectly RM42 million from SRC,” Lim said, using the acronym for the attorney-general.
Apandi declined to comment when contacted by Reuters. MACC did not respond to Reuters’ requests for comment.
13 May 2018
Special taskforce on 1MDB to be set up, says Daim
The newly set up council of eminent persons meant business and wasted no time as they convened their first meeting soon after the announcement of its formation by Prime Minister Dr Mahathir Mohamed.
For the council, there is no honeymoon period and prolonged post-election euphoria as the government is determined to restore the confidence of the people and investors after Pakatan Harapan’s unprecedented win in the 14th general election on May 9.
Chaired by former finance minister Daim Zainuddin, the meeting, which went late into the night, was also attended by three other members of the team, namely former Bank Negara Malaysia governor Zeti Akhtar Aziz, former Petronas president and CEO Mohd Hassan Marican and economist Jomo Kwame Sundaram.
Tycoon Robert Kuok was not present as he is currently overseas.
“As for 1MDB, there will a special taskforce, I have identified those who can assist the probe into 1MDB. It would be under the purview of the team which will submit the report to the government,” Daim said.
A good reminder. Once a RCI is formed, all those in the ‘poster’ must appear before it and be asked about their respective statements. Then we will all be treated to a good show. The public can also see for themselves the lies and spin spewed over 1MDB.
For three years, we have shown, with documents, how the $681 million that Najib received came from 1MDB via Tanore. When AG Apandi Ali said the money “went back,” it didn’t return to Saudi but to Tanore. From there, some of it was used to buy a $27 million diamond for Rosmah.
/5 What’s more, AG Apandi Ali stopped other prosecutors in Switzerland, Singapore and the U.S. from investigating 1MDB by refusing to share evidence. Malaysia has a MLA treaty with the US but he still declined to cooperate.
12 May 2018
The police have been ordered to lift the Official Secrets Act (OSA) to uncover the 1MDB audit report. “They will then submit the report to me and I will study it,” – Prime Minister Tun Dr Mahathir.
Mahathir instructs police to unseal 1MDB audit report
Prime Minister Dr Mahathir Mohamad has ordered police to lift the Official Secrets Act (OSA) seal on the 1MDB audit report.
“They will then submit the report to me and I will study it,” Mahathir said at a press conference in Bersatu’s headquarters in Petaling Jaya today.
The 1MDB audit report was tabled to the parliamentary Public Accounts Committee (PAC) in April 2016.
However, then auditor-general Ambrin Buang sealed the documents under the OSA, and it was never debated in Parliament.
Whistleblower site Sarawak Report, however, leaked an alleged copy of the report in July 2016.