Sarawak businessman Bustari Yusof and Najib…

5 June 2018

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https://www.themalaysianinsight.com/s/52567

Najib’s right-hand man sitting on lucrative ECRL deal


The Malaysian Insight

SARAWAK’s Bustari Yusof, a little-known but wealthy businessman and Najib Razak’s right-hand man, was on the cusp of becoming even wealthier.

The Malaysian Insight understand a sizeable portion of the East Coast Rail Link (ECRL) project in Selangor had been earmarked for development by Bustari’s company. The value of the contract for that segment of the mammoth infrastructure project is said to be about RM9 billion.

The tycoon disappeared after the fall of Najib’s Barisan Nasional government on May 9, presumably in quite a hurry because a cash hoard of RM114 million in 26 currencies was seized from his apartment by police in the days after GE14.
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A Bustari-controlled company, Lebuhraya Borneo Utara Sdn Bhd, is the project delivery partner for the RM27 billion Pan Borneo Highway. LBU stands to earn RM1.3 billion from the highway project.

Another Bustari firm, One Medicare Sdn Bhd, was also granted a 10-year concession to operate and manage hospital support services in Sarawak.

Sources told The Malaysian Insight Bustari had the backing of the Najib administration to get a portion of the ECRL, the China-backed rail project spanning three states.

In October 2016, the government signed an agreement with China Communications Construction Company to build the rail link from Kelantan to Selangor.

https://www.themalaysianinsight.com/s/52567

19 May 2018

12h12 hours ago

Bustari Yusuf (Sarawak), ex-Works Minister Fadillah’s brother, received RM59 MILLION Najib stole from 1MDB/SRC? Why? Buy Election?

 

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Bustari Yusof: The man who quietly guides Najib’s hand

Jun 5, 2017, 5:00 am SGT

He is not well known, but businessman Bustari Yusof is PM’s top go-to man

Shortly after receiving word in early May that the Malaysian government had cancelled his contract to develop the multibillion-dollar Bandar Malaysia real estate project, a shaken Lim Kang Hoo scrambled to secure a meeting with Prime Minister Najib Razak in the hope of reversing the situation.

Datuk Seri Najib refused to meet the Malaysian businessman or representatives of Mr Lim’s Chinese partners, China Railway Engineering Corp.

Instead, Mr Najib dispatched Tan Sri Bustari Yusof to advise Mr Lim, the controlling shareholder of Iskandar Waterfront Holdings. Mr Lim was told that challenging Kuala Lumpur’s decision would only dim his chances for future government contracts, according to close associates of the Prime Minister with knowledge of the situation.

https://www.straitstimes.com/asia/se-asia/the-man-who-quietly-guides-najibs-hand

2017

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Bustari Yusof, the No. 1 go-to person in the Najib administration


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SARAWAK businessman Bustari Yusof’s role as Prime Minister Najib Razak’s right-hand man has come under scrutiny after reports emerged that he had “advised” Lim Kang Hoo not to raise a fuss over the collapse of the multibillion-dollar Bandar Malaysia real estate project.

Bustari, 65, was despatched by Najib to meet the Iskandar Waterfront Holdings boss, Lim, following the termination of the RM7.42 billion deal to develop the 197ha Bandar Malaysia, the ultra-modern transport hub in the city centre.

According to a Straits Times report today, Bustari told Lim that challenging Putrajaya’s decision would only dim his chances for future government contracts.

The low-key businessman, described as Najib’s golf buddy, is also the brother of Works Minister Fadillah Yusof. Both have been described as the prime minister’s “key agents” in the Borneo state.

“He would easily count as one of the PM’s closest friends. They play golf (together) regularly and Bustari often goes for holidays with the (Najib’s) family,” a chief executive of a government-controlled bank was quoted as saying.

A Bustari-owned company, Lebuhraya Borneo Utara Sdn Bhd, is the project delivery partner for the RM27 billion Pan Borneo Highway. The Star said in a July 4, 2015 report that LBU stands to earn RM1.3 billion from the highway.

Another Bustari firm, One Medicare Sdn Bhd, was also granted a 10-year concession to operate and manage hospital support services in Sarawak.

Bustari’s flagship company, BYU Holdings Sdn Bhd, is a major shareholder of Petra Energy with a 27.47% indirect interest through Shorefield Resources Sdn Bhd. Among Petra’s major shareholders is Nizam Razak, Najib’s brother, with a 9.09% stake as at April 17, 2015.

https://www.themalaysianinsight.com/s/4351/

Bustari The Bag Man? How Najib Bought The Sarawak Election FURTHER EXCLUSIVE

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Documents show that the Sarawak businessman cum politician Bustari Yusuf personally received just short of a staggering RM60 million from Najib Razak in the weeks and days running up to the 2013 General Election.

The payments all came from Najib’s personal AmBank account number 2112022009694, which had received over a billion dollars since 2011, stolen from the 1MDB development fund.

The vast majority of the money was signed over to Bustari in the final fortnight of the campaign, indicating that the most likely purpose was to buy votes.

Bustari Yusuf has long been cited by observers, including Sarawak Report, as being one of the Prime Minister’s most trusted key operators in the State of Sarawak, whose seats have become increasingly crucial to BN’s survival in office.

Indeed, together with Sabah the East Malaysian state has been widely dubbed BN’s “Safe Deposit’, an analogy that represents the widespread notion that the voter base relies heavily on what is politely termed ‘money politics’, otherwise vote buying.

The Yusuf family have entrenched themselves in the politics and economy of Sarawak, obtaining extensive timber concessions in the 80s thanks to Bustari’s role as a Taib crony and former PBB Treasurer. However, he soon raised his eyes to higher opportunities when Najib took office.

This site has already reported on how this unofficial contact of the Prime Minister is rarely far from Najib’s side, especially when matters become sensitive or difficult.

He is also the PM’s regular golfing partner and a former colleague and close male friend of Rosmah Mansor.

When the original 1MDB joint partnership deal with PetroSaudi was hatched back in 2009 on the yacht Tattoosh, Bustari was in situ as one of a handful of guests on board apart from Najib’s family, Jho Low and the PetroSaudi shareholders (the other was Robin Tan, son of the tycoon Vincent Tan).

Again, after the scandal exploded in 2015, when Najib made repeat journeys to Singapore to shore up his position and to try to release the 1MDB accounts, it was Bustari who came with him and played golf between meetings.

Bustari has been rewarded with pivotal opportunities at the heart of a number of Najib’s grand economic projects, most controversially as the barely concealed ‘turnkey’ operator behind the multi-billion dollar Borneo Highway project. Sarawak Report exposed his hidden lucrative role.

So, no surprise that it was none other than Bustari’s politician brother Fadillah, whom Najib had appointed as Minister of Public Works soon after the 2013 General Election when BN scraped back into power, largely thanks to holding Sarawak. The ministry governs all public construction contracts.

For more:

http://www.sarawakreport.org/2017/05/bustari-the-bag-man-how-najib-bought-the-sarawak-election-further-exclusive/

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