Friday, July 15, 2016

Are the new 1MDB Board of Directors led by Treasury-General Tan Sri Irwan Serigar going to turn a blind eye after the Sarawak Report exposed an outrageous round-tripping fraud involving US$1.22 billion?

The Sarawak Report first exposed the banking documents on 11 July which showed that 1MDB Global Investment Limited (1MDB GIL) transferred US$1.28 billion between September to November 2014 to the fraudulent Aabar Investment PJS Limited which was incorporated in the British Virgin Islands (“Aabar(BVI)”).

Yesterday, the Sarawak Report leaked more explosive sections from the Auditor-General’s Report relating to transactions between Brazen Sky Limited, another 1MDB subsidiary which held 1MDB’s controversial investments with a little-known Cayman Islands investment fund and 1MDB GIL.

The Sarawak Report concluded based on the additional information from the classified report, 1MDB clearly concocted a round-tripping exercise to give the impression that it has successfully redeemed cash from the Cayman Islands investment.  The fraudulent transactions were apparently so convincing that 1MDB’s auditors, Deloitte Malaysia happily signed off the company’s audited accounts.

Assuming the leaked copy of the AG’s Report is genuine, this is a massive allegation because for the first time hard evidence is shown to incriminate 1MDB officials as parties colluding with the owners of the fake Aabar (BVI) - Mohamed Al Husseiny and Khadem al Qubaisi.

Those incriminated include Datuk Shahrol Halmi, the former 1MDB CEO who was instrumental in 1MDB’s investment in the Cayman Islands fund; Mohd Hazem Abdul Rahman, who was the CEO when the above round-tripping transactions took place and Arul Kanda Kandasamy, the current 1MDB President who is covering up the above shenanigans.

The exposé by Sarawak Report would hugely complicate 1MDB’s case in the arbitration proceedings brought by International Petroleum Investment Corporation (IPIC) against 1MDB involving US$6.5 billion.  IPIC is the parent company of Abu Dhabi’s Aabar Investment PJS, both of whom have officially denied that Aabar (BVI) is ever related to their group.  1MDB’s knowing participation with Aabar (BVI) to defraud both IPIC and the Malaysian government would certainly compromise 1MDB’s claims that it was an innocent victim to IPIC’s then employees Al Husseiny and Al Qubaisi.

What is more immediately important however, is what is the new 1MDB Board of Directors going to do about this new information, now that it has been made public?

The previous Board of Directors led by Chairman Tan Sri Lodin Wok Kamaruddin were forced to resign in shame after the Public Accounts Committee (PAC) condemned them in its report on 1MDB to the Parliament.  These Directors failed miserably to carry out their fiduciary duties and responsibilities with any degree of diligence.

A recent exposé by Sarawak Report also showed that the previous board has blindly signed a retrospective approval of the US$1.2 billion payments by 1MDB GIL to Aabar (BVI) more than a year after these fraudulent transactions took place.  These good-for-nothing “cari makan” directors included Tan Sri Ismee Ismail, Tan Sri Ong Gim Huat, Ashwin Valiram, Datuk Shahrol Halmi and Arul Kanda.

The question now is, will the new Board of Directors appointed on 31 May 2016, led by Treasury-General, Tan Sri Irwan Serigar do a better and proper job?

Together with the other 2 new Board Members, Datuk Kamal Mohd Ali and Dato’ Norazman Ayub, are they going to demand answers to these new explosive allegations and act on them – including but not limited to filing police reports?  It is part of the directors’ roles and responsibilities to investigate cases of fraud and report them accordingly to ensure the interest of the Malaysian tax-payers are fully protected.

Or will they similarly turn a blind eye on indisputably, the single largest case of financial fraud in Malaysia’s history?

Thursday, July 14, 2016

Datuk Dr Mohd Puad Zarkashi should look himself in the mirror first before asking Tan Sri Muhyiddin Yassin to read the 106-page PAC Report on 1MDB

After former UMNO deputy president Muhyiddin Yassin and former senator Ezam Mohd Noor demanded that the Auditor-General’s (AG) Report on 1MDB be declassified to ensure accountability and transparency, UMNO Supreme Council Member Datuk Dr Mohd Puad Zarkashi asked to read the Public Accounts Committee (PAC) Report on the matter properly.

Puad said that if they had read it, they would not have asked that the report be declassified.  He said the conclusions of the auditor-general and PAC could be found on pages 103 to 106 and it was wrong for Muhyiddin to fault Prime Minister Najib Abdul Razak for classifying it when it was on the request of the auditor-general himself.

I had to laugh out loud when I read the comments made by Puad.

Firstly, the Auditor-General had only specifically requested for his report to be classified while it was being deliberated by the PAC.  He told the PAC that it is up to the PAC to publish the AG’s Report upon the completion of PAC’s own report.

The PAC Chairman, Datuk Hasan Arifin himself has explained to the media on March 7, that “the federal audit report on 1MDB will no longer be classified a state secret under the Official Secrets Act (OSA) once the PAC tables its findings on it in Parliament.”

Hence if Dato’ Seri Najib Razak and his Cabinet was not to be faulted for refusing to declassify the AG’s Report, then who is?

Secondly, it is once again ridiculous, just as was claimed by the Multimedia and Communications Minister, Datuk Seri Salleh Keruak, that there was no need for the AG’s Report to be made publicly accessible since the PAC Report has already been tabled.

The Public Accounts Committee (PAC) in its proceedings, relies almost entirely on the findings of the AG Report to present its deliberations, conclusions and recommendations.  In fact, the PAC members understood that the AG’s Report was to be presented together with the the PAC Report to provide a complete picture with detailed facts and figures to the Parliament. 

Hence the PAC Report itself made extensive references to the findings AG’s Report without citing the details for the simple reason that the committee members were expecting the AG’s Report to be published together with the PAC Report.

In fact, PAC members from the government backbench and opposition concurred fully with the AG’s Report and never at any point of time, as recorded in the PAC Hansard, disagreed or rejected the findings.  Hence all the findings in the AG’s Report must be deemed factual and dealt with accordingly by the authorities.

Why is Datuk Dr Puad Zarkashi and the entire Barisan Nasional leadership so afraid of these facts within the AG’s Report to be published?

It is also a joke for Puad to claim that “the bits of the auditor-general's report can be taken randomly without fully knowing the context of the information,” giving “rise to various speculations.”

If Puad is so worried about these “bits” giving the wrong context, then surely, he must immediately advise his party President to declassify the full report immediately so as to prevent these “bits” from being leaked by parties like the Sarawak Report. 

Why is Puad so scared of declassifying the report?  Unless of course, he knows that the AG’s Report contains damning evidence of multi-billion dollar misappropriation and abuse of power which will expose all the lies and deceit expounded by 1MDB and the Prime Minister himself.

Wednesday, July 13, 2016

Did 1MDB GIL pay US$1.279 billion to Aabar Investment PJS Limited to bluff Deloitte that the sums redeemed from 1MDB’s Cayman Island investments were “received”?

When Sarawak Report exposed banking records of 1MDB Global Investment Limited (1MDB GIL) which paid US$1.279 billion to the fraudulent Aabar Investment PJS Limited (“Aabar (BVI)”) between 12 September to 14 November 2014, many questions were raised.

Why did 1MDB GIL pay Aabar (BVI) the money even though there were no business transactions, agreements or dealings between the two entities?  Why wasn’t these fund transfers disclosed and explained during Arul Kanda’s testimonies with the PAC?

Unfortunately, my questions in my statement issued yesterday did not elicit any response from the 1MDB President, Arul Kanda.

Then it occurred to me that the 1MDB Financial Statements for the year ending 31 March 2015 was signed off by the auditors, Deloitte coincidentally on 4 November 2014, where 1MDB GIL also made a payment of US$222 million to Aabar (BVI). 

At that point in time, there was increasing concern over 1MDB’s US$2.318 billion investment in an obscure investment fund based in Cayman Islands.  The Board of Directors minutes have shown that the Management were repeatedly instructed to redeem the investment and repatriate the proceeds back to Malaysia throughout 2014. The company was under immense pressure because the authenticity of the investment was being publicly questioned.

Based on the testimony of Deloitte to the Public Accounts Committee (PAC), the auditors were particularly insistent that 1MDB was able to redeem most, if not all of the Caymans investment before signing off the much-delayed statements which were already past due.

The accounts were finally signed off by Deloitte when 1MDB was able to “show” the auditors that US$1.22 billion have been redeemed.  The money was however, not repatriated to Malaysia.

The Mar 2014 Financial Statements wrote that “as at the date of this report (4 Nov 2014), the amounts received from the redemption of investments US$1.22 billion… have been substantially utilised for the purposes of debt interest payment, working capital and payments to Aabar as refundable deposits…”

Based on the 1MDB GIL transactions Sarawak Report exposed 2 days ago, coincidentally 1MDB GIL has paid US$1.22 billion to Aabar (BVI) by 4 November 2014! (See Table 1 below)

Hence we have now figured out the most likely reason why 1MDB GIL made these mysterious unexplained payments to Aabar (BVI).  The transactions were meant to hoodwink Deloitte into accepting that all the funds purportedly “received” from the Cayman Islands amounting to US$1.22 billion have pretty much been immediately used to pay Aabar (BVI).

The catch is, the money used to pay Aabar (BVI) did not come from the controversial Caymans investment, but from 1MDB’s own funds in its wholly-owned subsidiary, 1MDB GIL!  Unfortunately, Deloitte was sufficiently cheated and bluffed by the 1MDB crooks to sign off the accounts so readily.

We call upon Deloitte to review the documents shown to them for them to be so sufficiently satisfied as to sign off the 1MDB accounts so readily.  Should these documents shown to them prove to be fraudulent or manipulated on hindsight, they must immediately file police reports to clear their name and ensure that the crooks are investigated.

Tuesday, July 12, 2016

Arul Kanda must explain why 1MDB Global Investment Limited paid US$1.279 billion to Aabar Investment PJS Limited when these entities had no business relationships

The Sarawak Report yesterday exposed another set of banking transaction documents separate from the classified Auditor-General’s Report on 1MDB which showed that 1MDB Global Investment Limited (GIL) paid a total of US$1,279,347,500 between 12 September and 4 November 2014 to the British Virgin Islands (BVI) incorporated Aabar Investment PJS Limited.

1MDB GIL is a wholly-owned foreign subsidiary of 1MDB while Aabar (BVI) has been exposed as a fraudulent entity pretending to be the subsidiary of Abu Dhabi’s International Petroleum Investment Corporation (IPIC).

The Sarawak Report rightly highlighted the failure of UBS Bank Singapore which received the money on behalf of Aabar (BVI) to properly ascertain the purpose, source and recipient of the funds.  The Monetary Authority of Singapore has already shut down another Swiss Bank, BSI Singapore in May for serious breaches of anti-money laundering requirements, poor management oversight of the bank’s operations, and gross misconduct by some of the bank’s staff.  The latest exposé hence raises the question as to whether UBS Singapore will be similarly investigated and have action taken against the Bank.

However, a bigger question mark arising from the above is why did 1MDB GIL make the US$1.279 billion payment to Aabar (BVI) in the first place?

1MDB GIL had borrowed US$3 billion in March 2013 purportedly to form a joint venture company with Abu Dhabi’s Aabar Invesmtent PJS to develop the Tun Razak Exchange in Kuala Lumpur.  However, the joint venture did not materialise.

If the joint venture is as good as dead, as testified by Arul Kanda himself to the Public Accounts Committee in January 2016, why did 1MDB GIL make the US$1.279 billion payment to Aabar (BVI) in 2014 which he did not disclose to the Committee?

Furthermore, according to 1MDB’s financial statements, 1MDB GIL was left with only US$1.56 billion invested “in various investment portfolios under the custody of a licensed financial institution”.  The rest of the funds have already been used up “for working capital and debt repayment purposes” by 31 March 2014.

Arul Kanda had also testified that the US$1.56 billion of 1MDB GIL investments were intact and will be possibly utilised as part of 1MDB’s rationalisation exercise.  However, if US$1.56 billion was indeed intact, then how did 1MDB GIL make the US$1.279 billion of cash payments to Aabar (BVI)?

The exposé of the latest documents by Sarawak Report has caught Arul Kanda with his pants down and proved that he has lied and withheld crucial information from the PAC.  This would be the real reason why Arul Kanda has refused to produce simple bank statements of 1MDB GIL to even the Auditor-General despite repeated requests to do so.

We call upon the local and international authorities to investigate all parties involved in the above transactions – Aabar Investment PJS Limited, 1MDB and UBS Bank for a international money laundering operation involving Malaysian tax-payers funds. 

Action must be taken against all parties who approved and abetted the above illicit transactions to ensure the integrity of our local and international financial system.

Monday, July 11, 2016

If the leaked Auditor-General’s Report on 1MDB by Sarawak Report is genuine, the Police must catch the crooks instead of going after whistleblowers!

On Saturday, the Inspector-General of Police (IGP), Tan Sri Khalid Abu Bakar said the police will probe whistleblower site Sarawak Report under the Official Secrets Act (OSA) for leaking the classified auditor-general’s report on 1MDB, but only after they verify that it was the genuine document.

“We’re also not sure if the document they published is genuine. So let me discuss with the auditor-general first to make sure whether the document is truly the auditor-general’s report, which has been classified as secret.  If it's true, then we will investigate under OSA. So let’s all calm down first.”

The IGP’s statement is shocking on several counts.  For one, Malaysians are shocked that after months since the Public Accounts Committee (PAC) tabled its report on 1MDB to Parliament demanding investigations on Datuk Shahrol Halmi and others involved in defrauding 1MDB, the Police have yet to gain access to the detailed Auditor-General’s Report on 1MDB.

Has the Police been so lackadaisical in its investigations on 1MDB that it hasn’t already obtained a copy of the AG’s Report on 1MDB?  The IGP looked like a fool disclosing to Malaysians that he still has to “discuss with the AG first” to determine if what was leaked on Sarawak Report was indeed the AG’s Report.

Or has the Najib administration decided to maintain the AG’s Report as an OSA document so that even the Police will have difficulty accessing it?  Is this the real reason why the Cabinet has refused to declassify the report as it should have, so that the crooks behind 1MDB cannot be easily and properly investigated?

Regardless, if the leaked AG’s Report by Sarawak Report which exposed the billions defrauded and covered up by 1MDB officers is indeed genuine, Malaysians are shocked that the IGP isn’t at all interested in getting to the bottom of the scam and putting the crooks behind bars.

As the Chief of Malaysian police, Tan Sri Khalid Abu Bakar should be thoroughly scandalised and embarrassed by the single largest multi-billion dollar heist which has taken place under his nose over the past 5 years.  However, from his media response, he appeared completely indifferent to the great robbery but instead is more interested in a witch hunt to capture and charge the heroic whistleblower under the Official Secrets Act.

The IGP would do well to remember that police officers are sworn to protect Malaysians against criminals and not instead to cover up for crooks.  The Official Secrets Act, draconian that it may be, was designed to protect the national interest of the country, particularly against the leaking of security secrets to foreign agents. 

The AG’s Report on 1MDB is not a national security document.  It is a document which audited 1MDB for tens of billions of ringgit lost and has been exposed as such by the Sarawak Report.  It is hence a crucial evidentiary report against the masterminds behind the 1MDB scam and any attempt by the IGP to suppress the evidence will pervert the course of justice in Malaysia.

Sunday, July 10, 2016

Is Multimedia and Communications Minister Datuk Seri Salleh Keruak calling the findings of the Auditor-General is frivolous and hence should be disregarded?

It appears that Dato’ Seri Najib Razak’s cheerleaders are busy lining up to play down the damning Auditor-General’s (AG) Report on 1MDB which has been exposed by the Sarawak Report.

Multimedia and Communications Minister, Datuk Seri Salleh Keruak is now telling Malaysians that the Auditor-General’s Report on 1MDB is not a “final” report and hence insinuates that the findings and conclusions presented should be ignored.

“In fact, the auditor-general’s report is not complete because it addresses just one aspect of 1MDB.  The complete report is the one from the PAC because it not only takes into account the auditor-general’s report but all the other information gathered as well,” Salleh wrote on his blog.

The biggest irony was when he argued that the Sarawak Report has intentionally “misled” the public with the AG’s Report. There is no bigger attempt to mislead the public than the Minister of Multimedia and Communications himself by playing down the findings of the AG’s Report.

The Public Accounts Committee (PAC) in its proceedings, relies almost entirely on the findings of the AG Report to present its deliberations, conclusions and recommendations. In fact, the PAC members understood that the AG’s Report was to be presented together with the the PAC Report to provide a complete picture with detailed facts and figures to the Parliament. 

Hence the PAC Report itself made extensive references to the findings AG’s Report without citing the details for the simple reason that the PAC was expecting the AG’s Report to be published together with the PAC Report.

Therefore, the AG’s Report wasn’t merely “one aspect of 1MDB” as Salleh claimed, but an integral part of the PAC Report on 1MDB, without which the PAC Report would be incomplete.

The PAC Chairman himself has explained to the media on March 7, a month before the publication of the PAC Report that “the federal audit report on 1MDB will no longer be classified a state secret under the Official Secrets Act (OSA) once the PAC tables its findings on it in Parliament.”

The Members of the PAC, as well as Malaysians at large were hence shocked when Datuk Hasan Arifin autocratically rescinded what he promised and decided against publishing the AG’s Report, without any discussions with the Committee.

Datuk Seri Salleh Keruak must also accept the fact that there was nothing in the PAC Report which contradicted or negated the findings of the AG’s Report.  In fact, PAC members from the government backbench and opposition concurred fully with the AG’s Report and never at any point of time, as recorded in the PAC Hansard, disagreed or rejected the findings.

Hence all the findings in the AG’s Report must be deemed factual and dealt with accordingly by the authorities.  The question of the AG’s Report being “incomplete” does not arise at all.

Datuk Seri Salleh Keruak should stop becoming Dato’ Seri Najib Razak’s Minister of Miscommunication by trivialising the AG’s Report and insulting the professionalism of Auditor-General Tan Sri Ambrin Buang. Instead he should be scandalised by the findings of the Report and demand for heads to roll for all who were involved in the elaborate 1MDB scammed which cheated billions of dollars from Malaysian taxpayers, to protect the “good name” and credibility of the Government.

Saturday, July 09, 2016

Deputy Home Minister Datuk Nur Jazlan Mohamad should advise the PM and the Cabinet to declassify the Auditor-General’s Report on 1MDB

I am extremely disappointed that Deputy Home Minister, Datuk Nur Jazlan Mohamad had called on the Police to investigate Sarawak Report, which has successfully procured a copy of the Auditor-General’s (AG) Report on 1MDB for breach of the Official Secrets Act (OSA).

The exposé is a feat even I could not achieve because the Public Accounts Committee (PAC) Chairman Datuk Hasan Arifin has ruled that even PAC members could not retain a copy of the document.  This is despite the fact that we have been specifically cleared to access the Report.  I could only read the Report during the PAC meetings or upon request at the Parliamentary office.

This particular disappointment with Datuk Nur Jazlan Mohamad was because he was formerly the Chairman of the PAC prior to his “promotion” as the Deputy Home Minister.  Of all people, Datuk Nur Jazlan should understand the concept of accountability and transparency which he preached during his tenure as the Chairman.

In fact, Datuk Nur Jazlan often led the line to demand answers from 1MDB, gave clear instructions to the Auditor-General on the information to be acquired and even concluded that the mysterious key-man, Low Taek Jho be summoned to testify before the PAC.  His stand on the matter was clear and can be read in the published Hansards as well as his press conferences.

What has caused the 180 degrees about turn in his position on the investigation on the single largest financial scandal in Malaysia’s history since his appointment to the front bench?

His endorsement for the Police to pursue the whistle-blowers would unfortunately, also destroy all the goodwill and reputation he has gained over the past few years as one of the few UMNO politicians with some trace of integrity.

Malaysians would have pinned hopes on him to carry on his crusades for better accountability in the administration of government subsidiaries.  In this case, we would have hoped that he would at the very least attempt to convince the Prime Minister, Dato’ Seri Najib Razak and his Cabinet that the right thing to do under the circumstances is to “declassify” the Report as it ought to have been.

Datuk Nur Jazlan must make it clear to the Prime Minister that with the Report already leaked, there is no choice for the Government but to declassify the Report to save its own credibility and reputation.  What is the point of keeping it a secret any more now that it has been leaked?

Otherwise, Datuk Nur Jazlan and the Malaysian Government will be seen as clearly attempting to cover up the enormous scandal to protect the wrong doers in the debt-ridden state-owned company.

Thursday, July 07, 2016

The best Hari Raya present: the Auditor-General's discoveries on 1MDB which the Najib administration tried to hide via the Official Secrets Act (OSA)

It appears that The Sarawak Report has successfully procured the classified Auditor-General’s Report on 1MDB with the relevant accompanying documents.

It is a feat even I could not achieve because the Public Accounts Committee (PAC) Chairman Datuk Hasan Arifin has ruled that even PAC members could not retain a copy of the document.  This is despite the fact that we have been specifically cleared to access the Report.  I could only read the Report during the PAC meetings or upon request at the Parliamentary office.

What is important however, isn’t the feat itself, but the fact that the whole wide world can now confirm what was speculated earlier as the real reason why the AG’s Report has not been declassified and presented to the Parliament.  It is because the Auditor-General’s comments on the fishy tales and documents supplied by 1MDB is even more damning than the already damning PAC Report on the 1MDB investigations.

For example, 1MDB made payments to the British Virgin Islands (BVI) Incorporated Aabar Investment PJS Limited amounting to US$1.15 billion between May to November 2014.  These were originally explained to the Auditor-General as compensation payments for the termination of options granted to Aabar.

However, much later, after it was exposed that they have separately made another payment of US$993 million for the same purpose in November 2014, 1MDB changed their tune and claimed the US$1.15 billion was meant for a separate “top-up security” Deposit to Aabar.


1MDB even got its Board of Directors to retrospectively approve the above US$1.15 billion “top-up security” payment one year later in November 2015.

This was despite the fact that Arul Kanda, as the Chief Executive of 1MDB would have already received notification from International Petroleum Investment Corporation (IPIC) and its subsidiary, Aabar Investment PJS of Abu Dhabi in July 2015 that the BVI-incorporated Aabar is a fictitious entity unrelated to them!

In the spirit of honesty and decency during the month of AidilFitri celebrations, Dato’ Seri Najib Razak must immediately instruct the declassification of the AG’s Report, which was never meant to be permanently classified.  After all, if he has nothing to hide and insists that the Sarawak Report has once again falsified documents and doctored, in this case the AG’s Report, then making public the “real” Report will once and for all destroy Sarawak Report’s credibility.

The failure to declassify the Auditor-General’s Report however, would only prove to Malaysians and the whole wide world that we have a Prime Minister who is guilty of one of the biggest cover up in the history of the world.  It would also ultimately confirm the public perception that we are a country run by kleptocrats.

Wednesday, June 29, 2016

As GE14 approaches, the Najib administration is abusing all its paws of power to politically persecute Opposition leaders in order to stay in power

The DAP condemns the politically-motivated persecution of Penang Chief Minister and DAP Secretary-General Lim Guan Eng for alleged corruption.

He is expected to be charged in the George Town Sessions Court under Section 23 of the MACC Act and Section 165 of the Penal Code.  The first charge relates to alleged abuse of power with regards to the re-zoning of land, and the second concerns the bungalow, which he is accused of acquiring below market price.

Over the past few months, Chief Minister’s and the Penang state government have demonstrated proof that there was no impropriety in Lim’s purchase of the bungalow as there was no contracts or benefits granted to the seller, whether directly or indirectly.

Hence the MACC’s move to prosecute Lim, which coincided with the resignation of the top 2 MACC officials just days earlier, is clearly designed to destroy him politically. It also demonstrates the Najib administration’s sense of invincibility after the convincing wins in Kuala Kangsar and Sungai Besar by-elections.  The Prime Minister is seizing the opportunity further weaken the opposition after imprisoning Dato’ Seri Anwar Ibrahim, before possibly calling for an early election next year.

This is not the first time Lim Guan Eng is being persecuted by the Barisan Nasional government.  He was arrested in 1994 for criticising the government's failure to bring then-Chief Minister of Melaka, Tan Sri Abdul Rahim Thamby Chik's statutory rape case to trial when the Attorney General had decided not to press charges.  Lim was then charged under Section 4(1) (b) of the Sedition Act 1948 and the Printing Presses and Publications Act 1984.  He was sentence to 18 months jail and served time in Kajang prison.

Despite his incarceration, Lim never lost the trust of the people and was immediately voted back into Parliament and the Penang state assembly in 2008.  He has since proven the opposition’s ability to rule in Malaysia and transformed Penang into the most envied state in the country.

We believe in Lim Guan Eng’s integrity and innocence and we will stand resolutely with him to fight these charges which are made without legal basis.  We call upon all Malaysians who believes in a competent, accountable and transparent government to stand together with Lim Guan Eng, with the DAP and Pakatan Harapan, to fight the corrupt and repressive Barisan Nasional regime.

Wednesday, June 15, 2016

Arul Kanda begitu berluang masa berkempen untuk Barisan Nasional di Sungai Besar, tetapi tidak berani berdebat dengan saya mengenai 1MDB

Saya  ingin  menjemput  Arul  Kanda  yang  begitu  berluang  masa  dapat  berkempen  untuk Barisan  Nasional,  tapi  tidak  berani  berdebat  dengan  saya  untuk  memberikan  penjelasan kepada  orang  ramai  di  mana-mana  satu  ceramah  yang  dianjurkan  oleh  Pakatan  Harapan malam ini atau esok.

Saya  dimaklumkan  bahawa  Arul  Kanda  telah  berucap  di  program  Wacana  Isu  Semasa Negara, bersama penjawat awam yang diadakan di Sekolah Menengah Agama Pasir Panjang.  Ini  sangat  menghairankan  saya,  dan  saya  pasti  ramai  yang  lain  juga  turut  tertanya-tanya; apa yang Arul Kanda sedang buat di Sungai Besar?

Bukankah  beliau  selalu  menegaskan  bahawa  beliau  bukan  seorang  ahli  politik  dan  tidak berniat untuk tersangkut dengan pengupasan politik Malaysia?

Saya   sangat   kecewa   kerana   Arul   Kanda   nampaknya   boleh   meluangkan   masa   untuk berkempen  bagi  pihak  Barisan  Nasional  tetapi  telah  menarik  balik persetujuan  untuk berdebat dengan saya tentang isu-isu berkait 1MDB.

Beliau  telah  sebelum  ini  memberikan  alasan  untuk  menolak  sesi  debat  tersebut  bahawa beliau   perlu   memberikan   tumpuan   khusus   untuk   membantu   penyiasatan   oleh   pihak berkuasa  di  Malaysia  dan  menyelesaikan  masalah  rumit  1MDB  dengan  syarikat  kerajaan Abu Dhabi, International Petroleum Investment Corporation (IPIC).

Adakah  penyiasatan  dan  masalah  dengan  IPIC  yang  membabitkan  jumlah  sebanyak  US$6.5 bilion sudah diselesai?

Apatah  lagi  setelah  International  Petroleum  Investment  Company  PJSC  (IPIC)  dan  Aabar Investments  PJS  (Aabar)  telah  memfailkan  kes  arbitrasi  terhadap  1MDB di  Mahkamah Arbitrasi Antarabangsa, London.

Takkanlah Arul Kanda mempunyai begitu banyak masa terluang serta mampu meninggalkan kerja-kerja  yang  lebih  penting  setelah  1MDB  disaman  dengan  tuntutan  berjumlah  US$6.5 bilion selain terlibat dalam siasatan di dalam dan luar negara?

Arul   Kanda   barangkali   CEO   paling   tidak   boleh   diharap   setelah   berulang   kali   terbukti mengabaikan  tanggungjawabnya  dan  gagal  menepati  kata-kata  bahawa  kononnya semua permasalahan 1MDB sudah pun diselesaikan. Penyelesaian kepada masalah saman arbitrasi terhadap  1MDB tidak akan membolehkan beliau  temui di Sg Besar. Kecuali Arul Kanda  dan 1MDB kini berminat dengan pelaburan sawah padi atau kapal nelayan.

Atas  kelalaian  dan  sikap  bersahaja  beliau  sehingga  boleh  membuang  masa  berkempen untuk Barisan Nasional, Arul Kanda sewajarnya dipecat oleh Lembaga Pengarah 1MDB yang baru kerana telah gagal melaksanakan tugas.

Jika Arul Kanda boleh bersenang-senang makan angin di Sekinchan, dan membantu jentera kempen  Barisan  Nasional,  saya  ingin  menjemput  beliau  untuk  memberikan  penjelas  1MDB kepada  seluruh  pengundi  Sg  Besar  di  mana-mana  ceramah  yang  dianjurkan  oleh  Pakatan Harapan malam ini atau malam esok.

Saya  percaya  orang  awam  yang  sekarang  cukup  kecewa  dan  marah  dengan  kerajaan pimpinan  Dato’  Seri  Najib  Razak  amat  mengalu-alukan  penjelasan  daripada  Arul  Kanda mengenai skandal gergasi 1MDB.

Wednesday, June 01, 2016

The newly appointed 1MDB Board of Directors must carry out its duties to the Government and Malaysian tax-payers by ensuring good corporate governance and accountability

The Ministry of Finance (MOF) today announced the appointment of new board of directors for 1Malaysia Development Bhd (1MDB), succeeding the previous board, which officially resigned yesterday.

The new three-member board is chaired by Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah, Senior Private Secretary to the Chief Secretary of the Government Datuk Norazman Ayob and Chief Operating Officer of Prokhas Sdn Bhd Datuk Kamal Mohd Ali.

We also welcome the steps taken by MOF to dissolve the 1MDB Board of Advisors, remove of the current Article 117 and change of all references from “Prime Minister” to “Minister of Finance”. Article 117 had given the Prime Minister vast powers to arbitrarily interfere in the operations of 1MDB, including the appointment of Board of Directors and top company executives as well as all major financial transactions where his “written approval” is explicitly required.

However, the amendments to 1MDB’s Memorandum and Articles of Association (M&A) as well as the changes to the Board of Directors would be an absolute waste of time if these new directors do not exercise the powers entrusted with them to ensure that the rogue management complies with all the required practices of good governance and corporate accountability.

The number one item on the agenda for the first Board of Directors meeting, which should hopefully be held soon, must be the demand for the company’s auditors, Deloitte to commence and complete the much delayed audit of 1MDB for the financial year ending 31 March 2015 and March 2016.

Without a clear and accurate picture of the financial position of the Company, the Board of Directors would be acting in a vacuum, rushing headlong into decisions without knowing the underlying status of the company.

The auditors must also be specifically directed to audit the US$7 billion (RM28 billion) of missing funds from 1MDB which the Auditor-General has been unable to verify due to the lack of cooperation from the management and the previous Board of Directors.

The sum included:

•  The sums of US$700 million and US$330 million which was misappropriated to Good Star Limited, a company which Bank Negara has identified as owned by Jho Low and is completely unrelated to the 1MDB-Petrosaudi joint venture in 2009 and 2011.

•  US$3.51 billion which was paid to a British Virgin Islands (BVI) incorporated Aabar Investment PJS Limited “Aabar (BVI)” in the form of collaterals, options termination compensation and further unexplained “top-up security” payments despite obvious doubts over who owns Aabar (BVI). Aabar (BVI) has since been found to be a fraudulent entity and dissolved since the June of last year.

•  US$940 million worth of “units” which was parked at the Swiss Bank branch of BSI Bank in Singapore. BSI Bank, Singapore has since been ordered to close but the whereabouts of US$940 million remains a mystery.

Another US$1.56 billion of investments by 1MDB’s wholly-owned foreign subsidiary, 1MDB Global Investments Limited

In fact, the Chairman of the new Board, Tan Sri Irwan Serigar must direct 1MDB President, Arul Kanda who kept his executive position, to immediately supply all documentary information and evidence pertaining to the above to be tabled for the very first Board meeting.

If Arul Kanda fails to satisfactorily explain the massive US$7 billion unaccounted funds, then the Board of Directors have now within their powers, after the removal of Article 117, to sack Arul Kanda for incompetence, cover up and collusion with the fraudsters who have resulted in billions of dollars of losses for Malaysians.

Tuesday, May 31, 2016

BN party reps threaten to quit over 'hudud' motion, but choose to turn a blind eye to 1MDB and Najib's donation scandals

It is almost comical seeing the immense coverage given by vernacular newspapers to non-Malay Barisan Nasional component party leaders who took turns threatening to quit the coalition as a result of the tabling of the hudud motion in Parliament.

Top leaders of MCA, MIC, Gerakan as well as Sabah and Sarawak parties were up in arms, thumping their chests, screaming betrayal by UMNO for allowing PAS President and Member of Parliament for Marang, Dato’ Seri Hadi Awang to table the motion on “hudud”, ahead of other Government business in Parliament.

The question which needs to be asked is simply, where were these BN component party leaders when the Minister in the Prime Minister’s Department, Dato’ Seri Azalina Othman, who obviously received the endorsement of Dato’ Seri Najib Razak himself, tabled the motion to prioritize Dato’ Seri Hadi Awang’s private members’ bill over government business?

Why was it that only opposition Members of Parliament were brave enough to stand up to question the irregularity of the entire exercise, which was perhaps the first in the history of Malaysian Parliament?

Why did Liow Tiong Lai, Wee Ka Siong, Joseph Kurup, Mah Siew Keong, Joseph Pairin Kitingan or members of their parties stand up to protest the unprecedented event which took place on the last day of the sitting on Thursday last week?

Or is all the brouhaha merely just an afterthought, a show to placate a shocked electorate who has lost total confidence in these BN component parties to protect their rights enshrined in the constitution?

Or are these leaders now threatening to quit for show in order to limit the damage resulting from the admitted collusion between UMNO and PAS?

None of the threats to quit are of course credible. The last time MCA and Gerakan threatened to quit the Cabinet if the results from the 13th General Election showed no improvement, the party leaders obediently put the tails between their legs and meekly crawled back into the Cabinet.

And if these BN leaders really mean their quit threats, then why haven’t they similarly threatened to quit over the RM55 bilion 1MDB and RM4.2 billion Najib-donation scandals?

Are MCA, Gerakan, MIC, Upko, SUPP and PBB more than happy to continue supporting a Prime Minister who has been directly accused of siphoning billions of dollars from the Finance Ministry subsidiary, 1MDB? Even the Auditor-General has confirmed that his office was unable to verify the authenticity and existence of US$7 billion (RM28 billion) of 1MDB transactions, assets and cash conducted overseas.

If they are indeed principled parties and individuals they claim themselves to be, why have they not made any similar threats when Dato’ Seri Najib Razak brought shame to Malaysia in a global scandal which is being investigated in more than 7 countries across the world? Is it because they are also beneficiaries of the stolen funds from 1MDB?

Malaysia is now a renown kleptocracy in the world.  If these chest-thumping BN leaders do not quit over the theft of billions of dollars from the Malaysian tax-payers, then their threats to resign are clearly just for show to minimise the damage caused the dalliance between UMNO and PAS.

Monday, May 30, 2016

Applications now open for 2016 DAP Internship Programme!


The DAP "Know An MP" Youth Programme for the year 2016 is now open for application! DAP Malaysia will be offering 10 attachment placements nationwide to various national leaders, Members of Parliament (MPs) and State Assemblymen (ADUN) in Malaysia.

What is this programme about?
The programme aims to provide Malaysia’s best and brightest students with hands-on experience in the areas of politics, public policy and governance. Selected candidates will be matched based on compatibility to an MP or ADUN. The candidate will be attached on a full-time basis to the MP/ADUN and actively participate in their daily work.

During the programme, candidates will have the opportunity to:
  • Gain first-hand experience and insight of being a national leader
  • Attend parliamentary or state assembly sessions
  • Organize and participate in press conferences, discussions, political events, etc.

As part of the programme, candidates are required to submit a 300-word essay documenting their experience and insights gained.

Who should apply?
University students able to commit to full-time attachment with a minimum period of 1 month

Application procedure:
Email your résumé / CV, secondary school and university transcripts, and a cover letter to daprocket@rocketmail.com.

Include in your application the following:
  • Preferred location (i.e. which state/city in Malaysia)
  • Proposed duration of your attachment
  • Preferred MP/ADUN

Application timeline:
The application period is between 15 May 2016 and 15 June 2016
Successful candidates will be contacted via email

For further enquiries, kindly email daprocket@rocketmail.com.

Sunday, May 29, 2016

Who is Datuk Hasan Arifin trying to protect when he works so hard to hide the fact that Good Star Limited belongs to Jho Low?

The Malaysian public can now see for themselves the types of challenges the opposition members of the Public Accounts Committee (PAC) faced when dealing with a Chairman the likes of Datuk Hasan Arifin.

Despite the overwhelming evidence to the contrary, Datuk Hasan Arifin made the outright denial that Good Star Limited belonged to Low Taek Jho, or better known as Jho Low.  Good Star Limited has received US$1.03 billion of direct payments from 1MDB from 2009 to 2011.

“Selaku Pengerusi PAC saya ingin menafikan bahawa pemilik Good Star Limited adalah Low Taek Jho seperti yang dinyatakan oleh akhbar Wall Street Journal dengan mengaitkan surat Bank Negara terhadap Jawatankuasa ini,” he said.

This outrageous denial was made despite the Bank Negara disclosed that 2 foreign regulatory authorities confirmed to Bank Negara that the sole beneficiary of Good Star Limited was Jho Low and the ownership status never changed since its inception in June 2009.

Instead, he chose to dismiss Bank Negara’s letter claiming that the information provided is of “intelligence grade” (bertaraf risikan).  Hence, since the PAC is not an “intelligence agency”, we are unable to verify the authenticity and truth of the information.

This must be the most gravity-defying acrobatic twist of logic from the Chairman who was only appointed to lead the committee in October last year.  An “intelligence grade” piece of information does not require an intelligence agency to make use of the intelligence reports.

On the contrary, the “intelligence grade” information should be taken as the likely truth unless otherwise proven because it was intelligence received from Bank Negara’s counterparts in foreign countries.

Furthermore, if “intelligence grade” information from Bank Negara cannot be believed, then why should the PAC Chairman accept at face value the letter from Petrosaudi acknowledging Good Star Limited as its subsidiary by mere assertion, unsupported by any documentary evidence? We don’t even know if the letter provided by 1MDB is genuine! Is he claiming that Bank Negara far less trustworthy than 1MDB, the very company the PAC is tasked to investigate?

Datuk Hasan Arifin then argued that because the letter was of “intelligence grade”, information contained in the letter cannot be included in any reports produced by the PAC.

However, he neglected to mention that Bank Negara specifically provided that the PAC can be allowed to use the information contained in its letter for PAC’s publications on the condition that “approval from the foreign regulatory authorities be obtained via Bank Negara in advance”. (Sekiranya PAC bercadang untuk menggunakan maklumat di dalam dokumen awam, kebenaran dari negara-negara terlibat melalui Bank perlu dipohon terlebih dahulu.)

What’s more, the letter would provide the necessary leads for the PAC to investigate further into the multi-billion dollar embezzlement which took place. For example, the PAC would then have the strong basis to summon Jho Low to testify to the Committee.

In addition, Datuk Hasan Arifin did not respond to the question as to why he refused to share the “intelligence grade” letter to the PAC members?  He claimed that the letter was addressed to him confidentially, but the contents of the Bank Negara letter repeatedly made reference to the information which was “provided to the PAC”. (pendedahan maklumat pendaftaran GSL adalah terhad kepada PAC…)

Therefore Datuk Hasan Arifin’s media response yesterday did not absolve him from his role in covering up the 1MDB scandal.  Instead it only confirmed that he is either a complete illiterate who could not read and understand basic Bahasa Malaysia, or more likely, he is abusing his position as the PAC Chairman to obstruct the investigations into the single largest financial scandal in the history of the country.

As such, Datuk Hasan Arifin’s response reinforced our calls for him to resign as the PAC Chairman because Malaysians can no longer trust him to carry out his role honestly, professionally and with integrity.

The top most question now which he must answer is, why is he going all out to hide Jho Low’s connections to Good Star and 1MDB, even at the cost of making him look like a complete idiot?  Is it because Jho Low will be the key to unlock the mystery of how billions of ringgit might have found its way to Dato’ Seri Najib Razak and his family’s personal wealth?

Saturday, May 28, 2016

The "cari makan" chairman of PAC must resign for lying to the committee, suppressing evidence and obstructing investigations into 1MDB!

The Public Accounts Committee members were baffled as to why Datuk Hasan Arifin had unilaterally deleted sentences from the finalised PAC Report on 1MDB which quoted Bank Negara who disclosed that the “ultimate beneficiary of Good Star Limited is an individual not related to Petrosaudi International Limited”.

We were further stumped by Datuk Hasan Arifin’s failure to disclose to PAC members another letter from Bank Negara dated 6 April 2016, a day before the final PAC report was tabled in Parliament. When we discovered the existence of the letter via a ministerial reply in Parliament on 17 May 2016, we had confronted the PAC Chairman at our meeting the very next day.

All PAC opposition members were left speechless when Datuk Hasan refused to share the contents of the Bank Negara letter with us. We could not understand Datuk Hasan’s claims of confidentiality when PAC members were even authorised to review the Auditor-General’s Report on 1MDB which was classified under the Official Secrets Act (OSA).  What could possibly be more confidential than OSA documents?

Datuk Hasan’s highly suspicious behaviour led us to believe that the Bank Negara letter responding to queries from the PAC must have contained some damning information on 1MDB. I had speculated two days ago that Bank Negara must have outed Low Taek Jho, better known as Jho Low as the sole beneficiary of Good Star Limited and demanded that the PAC Chairman confirm or deny my allegation.

Datuk Hasan Arifin refused to respond to the press despite repeated queries.

Malaysians are ashamed because we have to depend on the foreign media, The Wall Street Journal in this case, to expose the truth contained in the said letter.  The letter dated 6 April 2016 from Bank Negara to the PAC clearly stated that Good Star Limited is “beneficially owned by Low Taek Jho” and that there was never any change of ownership in the company.

This crucial piece of information opens up a whole Pandora’s Box and confirmed what critics like The Sarawak Report, The Edge publications and opposition Members of Parliament have accused 1MDB all along, that out of the US$1.83 billion investment 1MDB carried out with Petrosaudi International Limited, at least US$1.03 billion have been directly misappropriated to Good Star Limited, owned by Jho Low.

This incontrovertible evidence tears to shreds the pretense by Dato’ Seri Najib Razak and 1MDB’s top officials that Good Star Limited belongs to the Petrosaudi group, a claim which was not backed by any legally-admissible documentary evidence.

This vital evidence, if taken into consideration by the Auditor-General and the PAC, would have made the already damning PAC report even more devastating. Fraud, while previously suspected, would have been confirmed.

In fact, had Datuk Hasan Arifin shared the Bank Negara letter with the PAC members, a whole new front of investigations would have been opened, including summoning Jho Low to testify before the PAC. Instead, he lied to the PAC members claiming that the Bank Negara letter was intended for his eyes only. This was despite the letter clearly making reference to the information being provided to the PAC for deliberations.

Hence it cannot be clearer that Datuk Hasan Arifin has been nominated by Dato’ Seri Najib Razak and Barisan Nasional to hamper and cover up the investigations into 1MDB.  The PAC Chairman has denigrated his parliamentary position to become a tool to help the crooks who stole billions of dollars of Malaysian tax-payers’ money.

He has lied to and acted against the decisions of the PAC. He has suppressed crucial evidence to cover up shenanigans multi-billion ringgit fraud by the powers that be. He obstructed the parliamentary investigation into the single largest scandal in the history of Malaysia.

Datuk Hasan Arifin’s position as the PAC Chairman is no longer tenable because Malaysians can no longer trust him to carry out his role honestly, professionally and with integrity.  We now call upon Datuk Hasan Arifin to resign as the Chairman of the PAC because he has brought disrepute to the committee and disgraced the Parliament.