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.
Tuesday, May 31, 2016
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?
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.
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.
Thursday, May 26, 2016
Will BNM follow the footsteps of Swiss and Singaporean authorities in investigating the suspected money-laundering related to 1MDB and Dato' Seri Najib Razak?
Switzerland's Office of the Attorney General (OAG) has commenced criminal proceedings against BSI SA Bank for facilitating the offences of money laundering and bribery of foreign public officials in relation to 1MDB.
Simultaneously, the Monetary Authority of Singapore shut down BSI Bank operations in the island-state. The grounds provided include "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".
In contrast, what has Bank Negara done to protect the integrity of our financial system? Despite the fact that Malaysia is being ridiculed globally and cited as an example of a rogue state run by kleptocrats, Bank Negara has barely bared its purportedly powerful fangs to indict those who have been responsible.
Despite being arguably the most “aggressive” regulatory agency to investigate 1MDB in Malaysia, Bank Negara barely scratched the surface of the entire scandal.
The central bank had made hue and cry over how 1MDB illegally transferred US$1.83 billion overseas, and the demands that 1MDB return the funds immediately. But it all ended with a whimper when Bank Negara agreed to close the chapter by slapping 1MDB on the wrist with a compound. 1MDB proudly issued a statement that it has paid the fine yesterday.
To rub salt on Malaysians’ wounds, the quantum of the fine was undisclosed, so it could be a pitiful RM4,000 for all we know.
Hence instead of becoming the agency which acts without fear or favour that Malaysians are proud of, Bank Negara has blemished it’s much-vaulted reputation and brought shame to the country.
Instead today, Bank Negara allowed itself to be used by the alleged money-laundering suspects to acquit themselves.
Department of Special Affairs (Jasa) director-general and an UMNO warlord, Mohd Puad Zarkashi when explaining Dato’ Seri Najib Razak’s “donation” scandal, told students in Australia that the Prime Minister had discussed the matter with then Bank Negara governor Zeti Akthar Aziz and even received the central bank's approval to bring in the money.
Dato’ Seri Najib Razak has been accused of receiving more than US$1 billion (RM4.1 billion) in his personal account with AmBank Bhd, a sum which he had not denied.
Hence the question for Bank Negara is, did Dato’ Seri Najib Razak indeed obtained approval from Bank Negara and has the information on the source of funds been diligently verified since it has brought disrepute to the country?
Segambut Member of Parliament, Lim Lip Eng had already submitted a letter on 5 August 2015 asking the central bank to clarify if the transaction complied with the Anti-Money Laundering and Anti-Terrorism Financing Act 2013 (“AMLA”).
Under Section 4 of the Act, any person is deemed to have committed an offence if he or she:
a) engages, directly or indirectly, in a transaction that involves proceeds of an unlawful activity or instrumentalities of an offence;
b) acquires, receives, possesses, disguises, transfers, converts, exchanges, carries, disposes of or uses proceeds of an unlawful activity or instrumentalities of an offence;
c) removes from or brings into Malaysia, proceeds of an unlawful activity or instrumentalities of an offence; or
d) conceals, disguises or impedes the establishment of the true nature, origin, location, movement, disposition, title of, rights with respect to, or ownership of, proceeds of an unlawful activity or instrumentalities of an offence,
Dato’ Seri Najib Razak and his UMNO cheerleaders have insisted that the incredibly large sums the Prime Minister received were “donations” from an unnamed Middle-Eastern individual. However, that excuse, even if it were unbelievably true, does not absolve the Prime Minster from the purview of AMLA. That is because even a “donation” could have originated from illegal and illicit sources via complex money-laundering mechanisms.
Bank Negara Malaysia, as the “competent authority” under the AMLA, must confirm if the Prime Minister has been investigated under the law and if he has been cleared. Silence from Bank Negara is not an option.
The failure to investigate or confirm the above would only mean that the central bank has abdicated its powers and severely neglected its responsibility to protect the integrity of our financial system, especially when compared to the actions of foreign central banks to date.
Simultaneously, the Monetary Authority of Singapore shut down BSI Bank operations in the island-state. The grounds provided include "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".
In contrast, what has Bank Negara done to protect the integrity of our financial system? Despite the fact that Malaysia is being ridiculed globally and cited as an example of a rogue state run by kleptocrats, Bank Negara has barely bared its purportedly powerful fangs to indict those who have been responsible.
Despite being arguably the most “aggressive” regulatory agency to investigate 1MDB in Malaysia, Bank Negara barely scratched the surface of the entire scandal.
The central bank had made hue and cry over how 1MDB illegally transferred US$1.83 billion overseas, and the demands that 1MDB return the funds immediately. But it all ended with a whimper when Bank Negara agreed to close the chapter by slapping 1MDB on the wrist with a compound. 1MDB proudly issued a statement that it has paid the fine yesterday.
To rub salt on Malaysians’ wounds, the quantum of the fine was undisclosed, so it could be a pitiful RM4,000 for all we know.
Hence instead of becoming the agency which acts without fear or favour that Malaysians are proud of, Bank Negara has blemished it’s much-vaulted reputation and brought shame to the country.
Instead today, Bank Negara allowed itself to be used by the alleged money-laundering suspects to acquit themselves.
Department of Special Affairs (Jasa) director-general and an UMNO warlord, Mohd Puad Zarkashi when explaining Dato’ Seri Najib Razak’s “donation” scandal, told students in Australia that the Prime Minister had discussed the matter with then Bank Negara governor Zeti Akthar Aziz and even received the central bank's approval to bring in the money.
Dato’ Seri Najib Razak has been accused of receiving more than US$1 billion (RM4.1 billion) in his personal account with AmBank Bhd, a sum which he had not denied.
Hence the question for Bank Negara is, did Dato’ Seri Najib Razak indeed obtained approval from Bank Negara and has the information on the source of funds been diligently verified since it has brought disrepute to the country?
Segambut Member of Parliament, Lim Lip Eng had already submitted a letter on 5 August 2015 asking the central bank to clarify if the transaction complied with the Anti-Money Laundering and Anti-Terrorism Financing Act 2013 (“AMLA”).
Under Section 4 of the Act, any person is deemed to have committed an offence if he or she:
a) engages, directly or indirectly, in a transaction that involves proceeds of an unlawful activity or instrumentalities of an offence;
b) acquires, receives, possesses, disguises, transfers, converts, exchanges, carries, disposes of or uses proceeds of an unlawful activity or instrumentalities of an offence;
c) removes from or brings into Malaysia, proceeds of an unlawful activity or instrumentalities of an offence; or
d) conceals, disguises or impedes the establishment of the true nature, origin, location, movement, disposition, title of, rights with respect to, or ownership of, proceeds of an unlawful activity or instrumentalities of an offence,
Dato’ Seri Najib Razak and his UMNO cheerleaders have insisted that the incredibly large sums the Prime Minister received were “donations” from an unnamed Middle-Eastern individual. However, that excuse, even if it were unbelievably true, does not absolve the Prime Minster from the purview of AMLA. That is because even a “donation” could have originated from illegal and illicit sources via complex money-laundering mechanisms.
Bank Negara Malaysia, as the “competent authority” under the AMLA, must confirm if the Prime Minister has been investigated under the law and if he has been cleared. Silence from Bank Negara is not an option.
The failure to investigate or confirm the above would only mean that the central bank has abdicated its powers and severely neglected its responsibility to protect the integrity of our financial system, especially when compared to the actions of foreign central banks to date.
Does Deputy Minister of Finance Datuk Johari Abdul Ghani really want to become the butt of jokes like his predecessor Datuk Ahmad Maslan?
I am stunned to hear the normally intelligent (at least while he was a backbencher) Datuk Johari Abdul Ghani respond to questions in Parliament with regards to the monster scandal 1MDB.
Yesterday, he told the Parliament that “the government has never claimed that 1MDB was a good investment”. He added that it was the wrong business model, weak management and poor governance were the three reasons that (contributed to) 1MDB's lack of competitiveness.
For years, ever since I submitted my first question on 1MDB in Parliament on March 2010, the standard “copy and paste” replies by the Prime Minister’s Department and the Ministry of Finance was to say that 1MDB will be the “strategic enabler for new ideas and sources of growth” which will “drive sustainable economic development by forging strategic global partnerships and promoting foreign direct investment”.
In October 2014, Dato’ Seri Najib Razak himself told the Member of Parliament for Bagan, Lim Guan Eng that “1MDB had never missed its obligations to fulfill its financing schedules. 1MDB’s financial position remains strong, supported by strategic assets with proven track records as well strong growth opportunities.”
This was repeated in Datuk Ahmad Maslan’s replies in Parliament to me on 6 November 2014 which claimed that “1MDB’s financial position remains strong, supported by strategic assets with proven performance records, on top of solid growth opportunities.”
The former Deputy Finance Minister was so gung-ho as to declare that 1MDB will return to profitability for its financial year ending March 2015. The rest is history. Datuk Ahmad Maslan’s tenure was short-lived as he was a walking disaster defending 1MDB and the other key issue of Goods and Services Tax.
Datuk Ahmad Maslan was so bad, he had to apologise in Parliament after the Member of Parliament for Pandan, Rafizi Ramli submitted a motion to refer him to the House Committee of Rights and Privileges for misleading the house when responding to questions on 1MDB.
It appears the Datuk Johari Abdul Ghani is keen to follow Datuk Ahmad Maslan’s footsteps. After years of gloating about 1MDB, the new Deputy Finance Minister has the cheek to come to Parliament to tell Malaysians that “the Government never claimed that 1MDB was a good investment”.
If the Government never believed that 1MDB “was a good investment”, why didn’t the Government shut it down much earlier before it incurred up to RM55 billion of debt and became the single biggest financial scandal in the history of Malaysia? If Datuk Johari’s assertion is really true, then the BN Government must be the stupidest Government in the whole world for sticking with the 1MDB investment despite knowing that it is not a good investment.
Yesterday, he told the Parliament that “the government has never claimed that 1MDB was a good investment”. He added that it was the wrong business model, weak management and poor governance were the three reasons that (contributed to) 1MDB's lack of competitiveness.
For years, ever since I submitted my first question on 1MDB in Parliament on March 2010, the standard “copy and paste” replies by the Prime Minister’s Department and the Ministry of Finance was to say that 1MDB will be the “strategic enabler for new ideas and sources of growth” which will “drive sustainable economic development by forging strategic global partnerships and promoting foreign direct investment”.
In October 2014, Dato’ Seri Najib Razak himself told the Member of Parliament for Bagan, Lim Guan Eng that “1MDB had never missed its obligations to fulfill its financing schedules. 1MDB’s financial position remains strong, supported by strategic assets with proven track records as well strong growth opportunities.”
This was repeated in Datuk Ahmad Maslan’s replies in Parliament to me on 6 November 2014 which claimed that “1MDB’s financial position remains strong, supported by strategic assets with proven performance records, on top of solid growth opportunities.”
The former Deputy Finance Minister was so gung-ho as to declare that 1MDB will return to profitability for its financial year ending March 2015. The rest is history. Datuk Ahmad Maslan’s tenure was short-lived as he was a walking disaster defending 1MDB and the other key issue of Goods and Services Tax.
Datuk Ahmad Maslan was so bad, he had to apologise in Parliament after the Member of Parliament for Pandan, Rafizi Ramli submitted a motion to refer him to the House Committee of Rights and Privileges for misleading the house when responding to questions on 1MDB.
It appears the Datuk Johari Abdul Ghani is keen to follow Datuk Ahmad Maslan’s footsteps. After years of gloating about 1MDB, the new Deputy Finance Minister has the cheek to come to Parliament to tell Malaysians that “the Government never claimed that 1MDB was a good investment”.
If the Government never believed that 1MDB “was a good investment”, why didn’t the Government shut it down much earlier before it incurred up to RM55 billion of debt and became the single biggest financial scandal in the history of Malaysia? If Datuk Johari’s assertion is really true, then the BN Government must be the stupidest Government in the whole world for sticking with the 1MDB investment despite knowing that it is not a good investment.
Tuesday, May 24, 2016
BSI Bank directed to shut down in Singapore due to offences linked to 1MDB, but what will happen to the purported US$940 million worth of "units" parked there?
Dato’ Seri Najib Razak’s brainchild, 1Malaysia Development Bhd (1MDB) continued its giant-slaying run after it directly caused the collapse of BSI Bank.
Switzerland's Office of the Attorney General (OAG) has commenced criminal proceedings against BSI SA Bank for allegedly failing to prevent offences linked to 1MDB.
"The criminal proceedings opened on May 23 against BSI SA are based on information revealed by the criminal proceedings related to 1MDB and on issues raised in the Swiss Financial Market Supervisory Authority (Finma) of May 23. The information suggests that the offences of money laundering and bribery of foreign public officials currently under investigation in the context of the 1MDB case could have been prevented had BSI SA been adequately organised," it said.
Simultaneously, the Monetary Authority of Singapore shut down BSI Bank operations in the island-state. The grounds provided include "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".
This is perhaps 1MDB’s most notable achievement to date because such action has not been taken by the Singapore authorities in the last 32 years.
It is unfortunate that while foreign regulatory authorities are taking stern and punitive actions against individuals, organisations and financial institutions to protect the integrity and reputation of their financial systems and the rule of law, the corresponding Malaysian institutions are trying their best skirt around the massive crime against the state.
While Bank Negara Malaysia was deemed the most “aggressive” institution to investigate and penalise 1MDB and the banks under its purview, at the end of the day 1MDB was barely slapped on the wrist with a compound of an undisclosed sum. The crooks behind the multi-billion dollar scandal were perhaps properly tickled.
The closure of BSI Bank, Singapore however, piled additional pressure on 1MDB to prove its holdings in the Bank. 1MDB President Arul Kanda has testified to the Parliamentary Public Accounts Committee (PAC) in January this year that US$940 million (RM3.8 billion) worth of mysterious “units” remained safely parked in BSI Bank, Singapore.
With the closure of the Bank, will these assets evaporate together with the Bank?
Otherwise, 1MDB must now “move” this purported “units” to another financial institution. We call upon 1MDB and the Minister of Finance, Dato’ Seri Najib Razak to explain the steps which will be taken to withdraw the US$940 million worth of assets from BSI Bank and which Bank will they move these assets to.
Better still, 1MDB should liquidate and repatriate the entire sum back to Malaysia to fund its local projects in Bandar Malaysia and Tun Razak Exchange which are in desperate need for financial support.
It should be noted that despite repeated requests by both the Auditor-General and the PAC, 1MDB has adamantly refused to provide bank statements and supporting documents in relation to the above US$940 million of “units” to justify its existence and worth. The US$940 million forms part of the US$7 billion worth of cash, assets and transactions which could not be verified by the Auditor-General.
Dato’ Seri Najib Razak and Arul Kanda both fail to explain what will happen to the RM940 million “units” from BSI Bank. If not, they have been caught with their pants down lying outright to the Parliament and to the Malaysian public once again. Malaysians can hence safely conclude that the RM940 million of “units” never existed and the monies have been lost or stolen by the powers that be.
Switzerland's Office of the Attorney General (OAG) has commenced criminal proceedings against BSI SA Bank for allegedly failing to prevent offences linked to 1MDB.
"The criminal proceedings opened on May 23 against BSI SA are based on information revealed by the criminal proceedings related to 1MDB and on issues raised in the Swiss Financial Market Supervisory Authority (Finma) of May 23. The information suggests that the offences of money laundering and bribery of foreign public officials currently under investigation in the context of the 1MDB case could have been prevented had BSI SA been adequately organised," it said.
Simultaneously, the Monetary Authority of Singapore shut down BSI Bank operations in the island-state. The grounds provided include "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".
This is perhaps 1MDB’s most notable achievement to date because such action has not been taken by the Singapore authorities in the last 32 years.
It is unfortunate that while foreign regulatory authorities are taking stern and punitive actions against individuals, organisations and financial institutions to protect the integrity and reputation of their financial systems and the rule of law, the corresponding Malaysian institutions are trying their best skirt around the massive crime against the state.
While Bank Negara Malaysia was deemed the most “aggressive” institution to investigate and penalise 1MDB and the banks under its purview, at the end of the day 1MDB was barely slapped on the wrist with a compound of an undisclosed sum. The crooks behind the multi-billion dollar scandal were perhaps properly tickled.
The closure of BSI Bank, Singapore however, piled additional pressure on 1MDB to prove its holdings in the Bank. 1MDB President Arul Kanda has testified to the Parliamentary Public Accounts Committee (PAC) in January this year that US$940 million (RM3.8 billion) worth of mysterious “units” remained safely parked in BSI Bank, Singapore.
With the closure of the Bank, will these assets evaporate together with the Bank?
Otherwise, 1MDB must now “move” this purported “units” to another financial institution. We call upon 1MDB and the Minister of Finance, Dato’ Seri Najib Razak to explain the steps which will be taken to withdraw the US$940 million worth of assets from BSI Bank and which Bank will they move these assets to.
Better still, 1MDB should liquidate and repatriate the entire sum back to Malaysia to fund its local projects in Bandar Malaysia and Tun Razak Exchange which are in desperate need for financial support.
It should be noted that despite repeated requests by both the Auditor-General and the PAC, 1MDB has adamantly refused to provide bank statements and supporting documents in relation to the above US$940 million of “units” to justify its existence and worth. The US$940 million forms part of the US$7 billion worth of cash, assets and transactions which could not be verified by the Auditor-General.
Dato’ Seri Najib Razak and Arul Kanda both fail to explain what will happen to the RM940 million “units” from BSI Bank. If not, they have been caught with their pants down lying outright to the Parliament and to the Malaysian public once again. Malaysians can hence safely conclude that the RM940 million of “units” never existed and the monies have been lost or stolen by the powers that be.
Did the PAC Chairman hide BNM letter from its members because the letter exposed Jho Low as Good Star Limited's ultimate beneficiary?
Together with my opposition colleagues in the Public Accounts Committee (PAC), we have repeatedly requested that representatives from Bank Negara Malaysia (BNM) be summoned to testify with regards to the 1MDB scandal.
This is especially since BNM has openly indicted 1MDB for breaching the Financial Services and Exchange Controls Act. BNM has further demanded that 1MDB repatriate US$1.83 billion, the sum which was deemed to have been improperly transferred overseas.
It could not have been clearer that BNM was in possession of critical information which was integral to PAC’s investigation into 1MDB. However, the PAC Chairman repeatedly refused to summon BNM, claiming that the Attorney-General has already acquitted 1MDB and any information from BNM will be irrelevant.
However, the Chairman finally decided to write to BNM to seek written clarification in lieu of an official testimony.
The PAC has received the first letter from BNM dated 23 March 2016 which was presented to the members by the Chairman on 4 April 2016.
This letter had explained in detail the breaches by 1MDB and at the same time disclosed that the ultimate beneficiary of Good Star Limited, a company which received a whopping US$1.03 billion from 1MDB was “an individual unrelated to Petrosaudi International Limited”.
The members of the PAC then requested that the Chairman write to BNM again to seek further clarification with regards to this mysterious owner of Good Star Limited.
This crucial disclosure was also included in the final approved PAC Report on 1MDB in the meeting on the 4th, but was surreptitiously deleted by Datuk Hasan Arifin from the version tabled to the Parliament on the 7th.
When PAC members demanded to know why the Chairman unilaterally deleted the above information from the report without consulting the members of the committee at our next meeting on 18th May, we were shocked to discover that the Chairman has already received a response from BNM on 6th April.
Datuk Hasan Arifin claimed that the previously undisclosed second letter noted that the information provided by BNM was privileged, and hence he took the unilateral step to delete the relevant sentences from the finalised Report.
However, we were further shocked when the Chairman insisted that we take his word to be the Gospel truth when he refused to share the response of Bank Negara with the committee members. If the letter did, and merely substantiated his claims that the information was privileged, then why the unprecedented refusal to disclose the full contents of the letter to the PAC?
The incident became an absolute farce when the Chairman refused to even disclose the number of pages of the BNM letter, backed by PAC members from Barisan Nasional.
This has led the opposition members in the PAC to believe that the Chairman is blatantly hiding and obstructing the investigations into the shenanigans which took place in 1MDB. In fact, I will go further to suggest that Datuk Hasan Arifin is intentionally covering up for 1MDB and the Prime Minister because Bank Negara confirmed what the whole world already suspected, that Low Taek Jho or better known as Jho Low is the ultimate beneficiary of Good Star Limited.
We call upon Datuk Hasan Arifin to confirm or deny if Jho Low is indeed the sole shareholder ofI Good Star Limited. If Bank Negara did indeed name and confirm Jho Low, then the PAC Chairman must immediately resign from his position for failing to uphold the integrity of the Parliament and for clear cut obstruction of justice to thwart an independent and transparent investigation into the single largest scandal in the of Malaysia.
This is especially since BNM has openly indicted 1MDB for breaching the Financial Services and Exchange Controls Act. BNM has further demanded that 1MDB repatriate US$1.83 billion, the sum which was deemed to have been improperly transferred overseas.
It could not have been clearer that BNM was in possession of critical information which was integral to PAC’s investigation into 1MDB. However, the PAC Chairman repeatedly refused to summon BNM, claiming that the Attorney-General has already acquitted 1MDB and any information from BNM will be irrelevant.
However, the Chairman finally decided to write to BNM to seek written clarification in lieu of an official testimony.
The PAC has received the first letter from BNM dated 23 March 2016 which was presented to the members by the Chairman on 4 April 2016.
This letter had explained in detail the breaches by 1MDB and at the same time disclosed that the ultimate beneficiary of Good Star Limited, a company which received a whopping US$1.03 billion from 1MDB was “an individual unrelated to Petrosaudi International Limited”.
The members of the PAC then requested that the Chairman write to BNM again to seek further clarification with regards to this mysterious owner of Good Star Limited.
This crucial disclosure was also included in the final approved PAC Report on 1MDB in the meeting on the 4th, but was surreptitiously deleted by Datuk Hasan Arifin from the version tabled to the Parliament on the 7th.
When PAC members demanded to know why the Chairman unilaterally deleted the above information from the report without consulting the members of the committee at our next meeting on 18th May, we were shocked to discover that the Chairman has already received a response from BNM on 6th April.
Datuk Hasan Arifin claimed that the previously undisclosed second letter noted that the information provided by BNM was privileged, and hence he took the unilateral step to delete the relevant sentences from the finalised Report.
However, we were further shocked when the Chairman insisted that we take his word to be the Gospel truth when he refused to share the response of Bank Negara with the committee members. If the letter did, and merely substantiated his claims that the information was privileged, then why the unprecedented refusal to disclose the full contents of the letter to the PAC?
The incident became an absolute farce when the Chairman refused to even disclose the number of pages of the BNM letter, backed by PAC members from Barisan Nasional.
This has led the opposition members in the PAC to believe that the Chairman is blatantly hiding and obstructing the investigations into the shenanigans which took place in 1MDB. In fact, I will go further to suggest that Datuk Hasan Arifin is intentionally covering up for 1MDB and the Prime Minister because Bank Negara confirmed what the whole world already suspected, that Low Taek Jho or better known as Jho Low is the ultimate beneficiary of Good Star Limited.
We call upon Datuk Hasan Arifin to confirm or deny if Jho Low is indeed the sole shareholder ofI Good Star Limited. If Bank Negara did indeed name and confirm Jho Low, then the PAC Chairman must immediately resign from his position for failing to uphold the integrity of the Parliament and for clear cut obstruction of justice to thwart an independent and transparent investigation into the single largest scandal in the of Malaysia.
DAP Selangor menyokong calon Pakatan Harapan dalam PRK Sungai Besar meskipun ia menjadi pertarungan 3-penjuru dengan BN dan PAS
DAP Selangor akan memberikan sokongan penuh kepada calon Pakatan Harapan dalam pilihanraya kecil Sungai Besar bulan depan.
Kami juga berpandangan bahawa Pakatan Harapan mesti meletak calon dalam pertarungan ini meskipun ia menjadi satu pemilihan 3-penjuru dengan Barisan Nasional (BN) dan PAS.
Saya telah mengunjungi kawasan parlimen Sungai Besar dan bersesi dialog dengan akar-umbi cawangan-cawangan DAP di pekan Sungai Besar dan Sekinchan pada hari Ahad yang lalu.
Suara akar-umbi yang mencerminkan kehendak penyokong parti terutamanya di kawasan perbandaran adalah jelas. Mereka tidak akan, dan tidak mahu menyokong parti PAS sebagai wakil pembangkang melawan BN. Malah, ada yang menyebut bahawa kalau terpaksa undi antara BN dan PAS, ada kemungkinan mereka akan memilih BN atas kekecewaan terhadap PAS. Mereka menganggap bahawa PAS telah mengkhianati undi mereka pada pilihanraya yang lalu kerana mereka telah mengkuburkan Pakatan Rakyat.
Apatah lagi, Malaysia kini dilandai satu krisis gergasi yang tidak pernah berlaku dalam sejarah negara. Skandal RM55 bilion 1MDB dan “donation” Dato’ Seri Najib Razak berjumlah RM4.2 bilion yang telah menjadikan Malaysia sebagai bahan jenaka yang cukup memalukan di seluruh dunia.
Isu-isu ini sepatutnya menjadi fokus kepada pilihanraya-pilihanraya kecil di Sungai Besar dan Kuala Kangsar supaya ianya menjadi satu undi keyakinan terhadap pimpinan Dato’ Seri Najib Razak. Akan tetapi, rakyat tiada keyakinan bahawa parti PAS akan menyuarakan bantahan yang cukup nyaring dan pendirian yang cukup teguh terhadap skandal-skandal ini.
Malah, Presiden PAS, Datuk Seri Hadi Awang telah berkali-kali menegaskan bahawa beliau tidak berniat untuk menumbangkan Dato’ Seri Najib Razak. Sebaliknya, beliau berkata bahawa Dato’ Seri Najib Razak perlu terus diberikan peluang untuk memimpin negara sebagai Perdana Menteri dan PAS hanya ingin menjadi “penasihat” kepada UMNO-Barisan Nasional.
Oleh sebab itu, adalah wajib supaya Pakatan Harapan diwakili dalam pilihanraya kecil ini supaya penyokong Pakatan Harapan yang begitu ramai dapat memilih parti yang benar-benar menentang kerajaan BN yang rakus dan rasuah.
Akibat keengganan Presiden PAS untuk berunding dengan Dato’ Seri Azmin Ali, cadangan PKR untuk meletakkan calon PKR di Sungai Besar bagi memastikan pertarungan satu-lawan-satu tidak akan terjadi.
Dengan itu, DAP Selangor akan memberikan sokongan seratus-peratus kepada calon Parti Amanah Negara yang mewakili Pakatan Harapan dalam pemilihan tiga-penjuru di Sungai Besar.
Walaupun ada pihak yang bimbang bahawa pemilihan tiga-penjuru berkemungkinan melemahkan undi pembangkang, kami percaya bahawa pengundi yang pintar akan tetap memberikan undi kepada Pakatan Harapan. Ini adalah kerana hanya gabungan politik Pakatan Harapan antara PKR, DAP dan Amanah mampu dan berpeluang untuk menewaskan BN dalam pilihanraya. Manakala PAS, secara tersendiri, tiada kemungkinan langsung untuk menubuhkan kerajaan. Oleh itu, pengundi Sungai Besar tidak akan membazirkan undi kepada parti yang tiada berkemampuan untuk membentuk kerajaan untuk mengganti BN.
Kami yakin bahawa dengan satu kempen yang berfokus dan cergas, Pakatan Harapan akan dapat memikat hati pengundi dan mencapai satu kemenangan pilihanraya kecil bersejarah yang akan menggempar bumi politik Malaysia.
Kami juga berpandangan bahawa Pakatan Harapan mesti meletak calon dalam pertarungan ini meskipun ia menjadi satu pemilihan 3-penjuru dengan Barisan Nasional (BN) dan PAS.
Saya telah mengunjungi kawasan parlimen Sungai Besar dan bersesi dialog dengan akar-umbi cawangan-cawangan DAP di pekan Sungai Besar dan Sekinchan pada hari Ahad yang lalu.
Suara akar-umbi yang mencerminkan kehendak penyokong parti terutamanya di kawasan perbandaran adalah jelas. Mereka tidak akan, dan tidak mahu menyokong parti PAS sebagai wakil pembangkang melawan BN. Malah, ada yang menyebut bahawa kalau terpaksa undi antara BN dan PAS, ada kemungkinan mereka akan memilih BN atas kekecewaan terhadap PAS. Mereka menganggap bahawa PAS telah mengkhianati undi mereka pada pilihanraya yang lalu kerana mereka telah mengkuburkan Pakatan Rakyat.
Apatah lagi, Malaysia kini dilandai satu krisis gergasi yang tidak pernah berlaku dalam sejarah negara. Skandal RM55 bilion 1MDB dan “donation” Dato’ Seri Najib Razak berjumlah RM4.2 bilion yang telah menjadikan Malaysia sebagai bahan jenaka yang cukup memalukan di seluruh dunia.
Isu-isu ini sepatutnya menjadi fokus kepada pilihanraya-pilihanraya kecil di Sungai Besar dan Kuala Kangsar supaya ianya menjadi satu undi keyakinan terhadap pimpinan Dato’ Seri Najib Razak. Akan tetapi, rakyat tiada keyakinan bahawa parti PAS akan menyuarakan bantahan yang cukup nyaring dan pendirian yang cukup teguh terhadap skandal-skandal ini.
Malah, Presiden PAS, Datuk Seri Hadi Awang telah berkali-kali menegaskan bahawa beliau tidak berniat untuk menumbangkan Dato’ Seri Najib Razak. Sebaliknya, beliau berkata bahawa Dato’ Seri Najib Razak perlu terus diberikan peluang untuk memimpin negara sebagai Perdana Menteri dan PAS hanya ingin menjadi “penasihat” kepada UMNO-Barisan Nasional.
Oleh sebab itu, adalah wajib supaya Pakatan Harapan diwakili dalam pilihanraya kecil ini supaya penyokong Pakatan Harapan yang begitu ramai dapat memilih parti yang benar-benar menentang kerajaan BN yang rakus dan rasuah.
Akibat keengganan Presiden PAS untuk berunding dengan Dato’ Seri Azmin Ali, cadangan PKR untuk meletakkan calon PKR di Sungai Besar bagi memastikan pertarungan satu-lawan-satu tidak akan terjadi.
Dengan itu, DAP Selangor akan memberikan sokongan seratus-peratus kepada calon Parti Amanah Negara yang mewakili Pakatan Harapan dalam pemilihan tiga-penjuru di Sungai Besar.
Walaupun ada pihak yang bimbang bahawa pemilihan tiga-penjuru berkemungkinan melemahkan undi pembangkang, kami percaya bahawa pengundi yang pintar akan tetap memberikan undi kepada Pakatan Harapan. Ini adalah kerana hanya gabungan politik Pakatan Harapan antara PKR, DAP dan Amanah mampu dan berpeluang untuk menewaskan BN dalam pilihanraya. Manakala PAS, secara tersendiri, tiada kemungkinan langsung untuk menubuhkan kerajaan. Oleh itu, pengundi Sungai Besar tidak akan membazirkan undi kepada parti yang tiada berkemampuan untuk membentuk kerajaan untuk mengganti BN.
Kami yakin bahawa dengan satu kempen yang berfokus dan cergas, Pakatan Harapan akan dapat memikat hati pengundi dan mencapai satu kemenangan pilihanraya kecil bersejarah yang akan menggempar bumi politik Malaysia.
Thursday, May 19, 2016
1MDB CEO is giving up a golden opportunity to clear the firm's name when he rejects the debate challenge
I would like to express my disappointment that 1MDB CEO Arul Kanda has chosen to withdraw his acceptance of the 1MDB debate challenge after gamely declaring that I should “bring it on”.
I could gloat about his withdrawal, but I won’t. However, what is most disappointing for the Malaysians at large is another missed opportunity by Arul Kanda to once-and-for-all debunk all 1MDB’s key doubters and critics face-to-face. After all, the Prime Minister, the Cabinet and 1MDB repeatedly insisted that all our allegations are “without basis”, “politically-motivated” and is part of a “malicious global conspiracy”.
Arul Kanda claimed that he is now “fully focused on assisting the police, and resolving the IPIC dispute”. As such, he “cannot engage in a debate which may prejudice 1MDB’s legal position in relation to the investigation and the dispute.”
The excuse given cannot hold water because Arul Kanda first accepted my debate the first time round in October last year, with the full support given by Cabinet Members despite all forms of investigations by the Auditor-General and the Public Accounts Committee (PAC) which were also on-going.
In addition, I have personally filed a police report on 1MDB since March 2015 and the Inspector-General of Police (IGP) Tan Sri Khalid Abu Bakar has repeatedly claimed that police investigations were on-going since last year.
If it was OK to “debate” then, surely the excuse cannot apply today?
What is perhaps the real reason for the last minute withdrawal to accepting the debate since the tabling of the PAC Report last month is that all the pretence that 1MDB has undergone a successful “rationalisation exercise” has collapsed, probably irrecoverably.
More specifically, it has now been proven that 1MDB has paid US$3.51 billion, a figure provided by 1MDB themselves to the Auditor-General, to a fraudulent “Aabar Investment PJS Limited”, a company set up in the British Virgin Islands, which is completely unrelated to Abu Dhabi’s Aabar Investment PJS, the subsidiary to International Petroleum Investment Corporation (IPIC).
Even Arul Kanda admitted that “a massive fraud” might have taken place with collaborators from within 1MDB. The Auditor-General has also stated that he is unable to confirm the whereabouts and veracity of 1MDB’s US$7 billion of cash, assets and transactions overseas.
Despite the seriousness of the misappropriation, whether intentional or otherwise, which has taken place, both the Government and 1MDB has failed to shed light on what has actually taken place.
Hence, the cancellation of the debate will not stop our mission to uncover the truth behind the heinous 1MDB scandal. Instead, the cancellation of the debate shows that we, the critics, are on the right track and gives us greater impetus dig harder to expose the real crooks who have embezzled billions of dollars of tax-payers funds.
I could gloat about his withdrawal, but I won’t. However, what is most disappointing for the Malaysians at large is another missed opportunity by Arul Kanda to once-and-for-all debunk all 1MDB’s key doubters and critics face-to-face. After all, the Prime Minister, the Cabinet and 1MDB repeatedly insisted that all our allegations are “without basis”, “politically-motivated” and is part of a “malicious global conspiracy”.
Arul Kanda claimed that he is now “fully focused on assisting the police, and resolving the IPIC dispute”. As such, he “cannot engage in a debate which may prejudice 1MDB’s legal position in relation to the investigation and the dispute.”
The excuse given cannot hold water because Arul Kanda first accepted my debate the first time round in October last year, with the full support given by Cabinet Members despite all forms of investigations by the Auditor-General and the Public Accounts Committee (PAC) which were also on-going.
In addition, I have personally filed a police report on 1MDB since March 2015 and the Inspector-General of Police (IGP) Tan Sri Khalid Abu Bakar has repeatedly claimed that police investigations were on-going since last year.
If it was OK to “debate” then, surely the excuse cannot apply today?
What is perhaps the real reason for the last minute withdrawal to accepting the debate since the tabling of the PAC Report last month is that all the pretence that 1MDB has undergone a successful “rationalisation exercise” has collapsed, probably irrecoverably.
More specifically, it has now been proven that 1MDB has paid US$3.51 billion, a figure provided by 1MDB themselves to the Auditor-General, to a fraudulent “Aabar Investment PJS Limited”, a company set up in the British Virgin Islands, which is completely unrelated to Abu Dhabi’s Aabar Investment PJS, the subsidiary to International Petroleum Investment Corporation (IPIC).
Even Arul Kanda admitted that “a massive fraud” might have taken place with collaborators from within 1MDB. The Auditor-General has also stated that he is unable to confirm the whereabouts and veracity of 1MDB’s US$7 billion of cash, assets and transactions overseas.
Despite the seriousness of the misappropriation, whether intentional or otherwise, which has taken place, both the Government and 1MDB has failed to shed light on what has actually taken place.
Hence, the cancellation of the debate will not stop our mission to uncover the truth behind the heinous 1MDB scandal. Instead, the cancellation of the debate shows that we, the critics, are on the right track and gives us greater impetus dig harder to expose the real crooks who have embezzled billions of dollars of tax-payers funds.
A question for the IGP - Why the delay in 1MDB probe despite sufficient evidence?
In an interview with Singapore broadcaster Channel News Asia, the Auditor-General (AG) Tan Sri Ambrin Buang said his report on 1Malaysia Development Berhad (1MDB) provided sufficient basis for an investigation on the state investment firm.
“I think our report is sufficient as a basis for further investigation, we have done our job. The next step as recommended by PAC, they want investigation on certain personality in the company, let the police do their work, we will assist anyone who wants (to) investigate," Ambrin was quoted saying, referring to the Public Accounts Committee (PAC).
However, despite the PAC having tabled its report on the 7 April, more than six weeks ago, the Royal Malaysian Police has not even called up the key 1MDB protagonist identified in the entire scandal!
Home and Deputy Prime Minister Dato’ Seri Ahmad Zahid Hamidi informed the Parliament yesterday that the Police have yet to question former 1MDB CEO Shahrol Azral Halmi as part of their probe into the sovereign wealth fund.
"All witnesses involved will be called by police if necessary to record their statements and for further investigations. Shahrol has not been called to record his statement as of yet," Zahid said when replying to the Member of Parliament for Raub, Datuk Mohd Ariff Sabri.
Why is the Police dragging their feet over the entire investigation?
In fact, I have personally first lodged a police report against 1MDB in March 2015, seeking investigations over the role of Datuk Shahrol Halmi, Jho Low and other individuals over their involvement in the 1MDB Petrosaudi investments.
For example, Datuk Shahrol Halmi has instructed payments of US$1.03 billion to Good Star Limited, which the Bank Negara Malaysia has informed the PAC as being “a company owned by an individual unrelated to Petrosaudi International Limited”.
I am not sure if I should be shocked that the Police has failed to even interview the 1MDB key-man after more than a year. Now that even the PAC and the Auditor-General have both indicted Datuk Shahrol Halmi over the gross mismanagement of 1MDB, what else is the Inspector-General of Police (IGP), Tan Sri Khalid Abu Bakar waiting for?
The IGP is after all famous for being a Twitter-happy top cop, demanding instant arrests and questioning of witnesses and suspects over the most trivial of alleged offences like “insulting” a leader. Why is Tan Sri Khalid Abu Bakar taking his own sweet time over what has been internationally recognised “the heist of the century”?
We call upon the Royal Malaysian Police to act with the necessary haste and urgency to ensure that the culprits behind the RM50 billion monster scandal are quickly brought to justice. The failure by the Police to act, and the irony of the speed of investigations
overseas will only lead Malaysians to conclude that they are doing their utmost best to cover up the heinous crime involving the most powerful political figures in the country.
“I think our report is sufficient as a basis for further investigation, we have done our job. The next step as recommended by PAC, they want investigation on certain personality in the company, let the police do their work, we will assist anyone who wants (to) investigate," Ambrin was quoted saying, referring to the Public Accounts Committee (PAC).
However, despite the PAC having tabled its report on the 7 April, more than six weeks ago, the Royal Malaysian Police has not even called up the key 1MDB protagonist identified in the entire scandal!
Home and Deputy Prime Minister Dato’ Seri Ahmad Zahid Hamidi informed the Parliament yesterday that the Police have yet to question former 1MDB CEO Shahrol Azral Halmi as part of their probe into the sovereign wealth fund.
"All witnesses involved will be called by police if necessary to record their statements and for further investigations. Shahrol has not been called to record his statement as of yet," Zahid said when replying to the Member of Parliament for Raub, Datuk Mohd Ariff Sabri.
Why is the Police dragging their feet over the entire investigation?
In fact, I have personally first lodged a police report against 1MDB in March 2015, seeking investigations over the role of Datuk Shahrol Halmi, Jho Low and other individuals over their involvement in the 1MDB Petrosaudi investments.
For example, Datuk Shahrol Halmi has instructed payments of US$1.03 billion to Good Star Limited, which the Bank Negara Malaysia has informed the PAC as being “a company owned by an individual unrelated to Petrosaudi International Limited”.
I am not sure if I should be shocked that the Police has failed to even interview the 1MDB key-man after more than a year. Now that even the PAC and the Auditor-General have both indicted Datuk Shahrol Halmi over the gross mismanagement of 1MDB, what else is the Inspector-General of Police (IGP), Tan Sri Khalid Abu Bakar waiting for?
The IGP is after all famous for being a Twitter-happy top cop, demanding instant arrests and questioning of witnesses and suspects over the most trivial of alleged offences like “insulting” a leader. Why is Tan Sri Khalid Abu Bakar taking his own sweet time over what has been internationally recognised “the heist of the century”?
We call upon the Royal Malaysian Police to act with the necessary haste and urgency to ensure that the culprits behind the RM50 billion monster scandal are quickly brought to justice. The failure by the Police to act, and the irony of the speed of investigations
overseas will only lead Malaysians to conclude that they are doing their utmost best to cover up the heinous crime involving the most powerful political figures in the country.
Kenyataan Media Ahli-Ahli Jawatankuasa Kira-Kira Wang Negara yang Mewakili Pihak Pembangkang Parlimen Mengenai Laporan PAC Terhadap 1MDB
1. Laporan Ketua Audit Negara di bawah Akta Rahsia Rasmi
Dalam mesyuarat Jawatankuasa Kira-kira Wang Negara (PAC) semalam, isu sebab Laporan Ketua Audit Negara berkenan 1MDB tidak dibentangkan kepada Parlimen telah dibincang.
Ahli-ahli Parlimen PAC pembangkang yang hadir telah menegaskan bahawa Ketua Audit Negara hanya meminta Laporan Ketua Audit Negara dirahsiakan secara rasmi sehingga Laporan PAC dibentangkan. Pendirian ini juga telah diakui oleh Pengerusi PAC, Datuk Hasan Arifin dalam kenyataan media beliau pada 7 Mac 2016.
Akan tetapi, Pengerusi PAC telah menyatakan pendirian yang berbeza semalam bahawa hak untuk deklasifikasi Laporan Ketua Audit Negara adalah dengan pihak eksekutif kerajaan dan tidak dengan PAC.
Beliau hanya akan menulis surat kepada pihak eksekutif untuk bertanya sama ada mereka akan deklasifikasi Laporan tersebut.
Kami berpendapat bahawa kuasa untuk membentangkan Laporan Ketua Audit Negara terletak dengan PAC, kerana Laporan PAC kami sendiri telah memetik maklumat-maklumat secara langsung daripada Laporan Ketua Audit Negara.
Apatah lagi, kami berpendapat bahawa tiada sebarang maklumat yang terkandung di dalam Laporan Ketua Audit Negara mempunyai unsur-unsur yang akan menjejaskan keselamatan negara yang perlu dirahsiakan.
Kami amat menyesali pendirian Pengerusi PAC yang telah melepaskan kuasa jawatankuasa Parlimen yang bertanggungjawab untuk menjadi institusi semak dan imbang kepada kerajaan, kepada pihak eksekutif kerajaan.
2. Surat Bank Negara Malaysia kepada PAC bertarikh 6 April 2016
Kami amat terkejut apabila Menteri dalam Jabatan Perdana Menteri, Datuk Azalina Othman menjawab dalam parlimen bahawa Pengerusi PAC telah menerima sepucuk surat daripada Timbalan Gabenor Bank Negara yang tarikh 6hb April 2016. Kami tidak pernah dimaklum oleh Pengerusi PAC sebelum ini mengenai surat tersebut.
Menurut Menteri, surat ini menjadi alasan kepada Datuk Hasan Arifin untuk membuat keputusan meminda Laporan PAC yang telah diluluskan oleh mesyuarat PAC pada 4hb April 2016. Oleh sebab itu, ayat-ayat yang menyebut bahawa Bank Negara telah mengesahkan bahawa syarikat Good Star Limited adalah dimiliki oleh seorang individu yang tiada kaitan dengan Petrosaudi International Limited telah dipotong daripada Laporan PAC tanpa sebarang rundingan dengan ahli-ahli PAC.
Kami telah meminta supaya Pengerusi PAC menunjukkan surat tersebut kepada semua ahli-ahli PAC semalam.
Sekali lagi, kami terkejut apabila Datuk Hasan enggan menunjukkan surat tersebut kepada ahli-ahli jawatankuasa walaupun surat tersebut telah ditulis kepada Pengerusi PAC bagi pihak seluruh jawatankuasa.
Surat yang bertarikh 6hb April tersebut adalah balasan kepada soalan-soalan yang telah dibangkitkan oleh pihak PAC pada 4hb April dan diputuskan supaya Pengerusi menulis kepada Bank Negara untuk mendapat penjelasan selanjutnya.
Keengganan Datuk Hasan untuk mengedarkan surat rasmi tersebut kepada ahli-ahli PAC merupakan kali pertama dalam sejarah PAC di mana maklumat yang telah diterima oleh Pengerusi PAC tidak dikongsikan dengan ahli-ahli jawatankuasa. Tindakan beliau merupakan satu penghinaan kepada ahli-ahli PAC yang dilantik oleh Parlimen sendiri.
Ini telah membangkitan perasaan kecurigaan terhadap Datuk Hasan, sama ada beliau sengaja menyembunyikan surat tersebut supaya maklumat-maklumat penting yang akan membuktikan penyelewengan antara 1MDB dan Good Star Limited tidak didedahkan.
Kami meminta supaya kalau benar-benar tiada “cover up” berlaku, surat tersebut yang merupakan satu dokumen yang perlu dinilai oleh PAC mesti ditunjuk kepada ahli-ahli jawatankuasa dengan serta-merta.
Dikeluarkan oleh:
Tan Seng Giaw, Timbalan Pengerusi PAC
Datuk Kamarul Baharin
William Leong
Datuk Takiyuddin Hassan
Tony Pua
Dalam mesyuarat Jawatankuasa Kira-kira Wang Negara (PAC) semalam, isu sebab Laporan Ketua Audit Negara berkenan 1MDB tidak dibentangkan kepada Parlimen telah dibincang.
Ahli-ahli Parlimen PAC pembangkang yang hadir telah menegaskan bahawa Ketua Audit Negara hanya meminta Laporan Ketua Audit Negara dirahsiakan secara rasmi sehingga Laporan PAC dibentangkan. Pendirian ini juga telah diakui oleh Pengerusi PAC, Datuk Hasan Arifin dalam kenyataan media beliau pada 7 Mac 2016.
Akan tetapi, Pengerusi PAC telah menyatakan pendirian yang berbeza semalam bahawa hak untuk deklasifikasi Laporan Ketua Audit Negara adalah dengan pihak eksekutif kerajaan dan tidak dengan PAC.
Beliau hanya akan menulis surat kepada pihak eksekutif untuk bertanya sama ada mereka akan deklasifikasi Laporan tersebut.
Kami berpendapat bahawa kuasa untuk membentangkan Laporan Ketua Audit Negara terletak dengan PAC, kerana Laporan PAC kami sendiri telah memetik maklumat-maklumat secara langsung daripada Laporan Ketua Audit Negara.
Apatah lagi, kami berpendapat bahawa tiada sebarang maklumat yang terkandung di dalam Laporan Ketua Audit Negara mempunyai unsur-unsur yang akan menjejaskan keselamatan negara yang perlu dirahsiakan.
Kami amat menyesali pendirian Pengerusi PAC yang telah melepaskan kuasa jawatankuasa Parlimen yang bertanggungjawab untuk menjadi institusi semak dan imbang kepada kerajaan, kepada pihak eksekutif kerajaan.
2. Surat Bank Negara Malaysia kepada PAC bertarikh 6 April 2016
Kami amat terkejut apabila Menteri dalam Jabatan Perdana Menteri, Datuk Azalina Othman menjawab dalam parlimen bahawa Pengerusi PAC telah menerima sepucuk surat daripada Timbalan Gabenor Bank Negara yang tarikh 6hb April 2016. Kami tidak pernah dimaklum oleh Pengerusi PAC sebelum ini mengenai surat tersebut.
Menurut Menteri, surat ini menjadi alasan kepada Datuk Hasan Arifin untuk membuat keputusan meminda Laporan PAC yang telah diluluskan oleh mesyuarat PAC pada 4hb April 2016. Oleh sebab itu, ayat-ayat yang menyebut bahawa Bank Negara telah mengesahkan bahawa syarikat Good Star Limited adalah dimiliki oleh seorang individu yang tiada kaitan dengan Petrosaudi International Limited telah dipotong daripada Laporan PAC tanpa sebarang rundingan dengan ahli-ahli PAC.
Kami telah meminta supaya Pengerusi PAC menunjukkan surat tersebut kepada semua ahli-ahli PAC semalam.
Sekali lagi, kami terkejut apabila Datuk Hasan enggan menunjukkan surat tersebut kepada ahli-ahli jawatankuasa walaupun surat tersebut telah ditulis kepada Pengerusi PAC bagi pihak seluruh jawatankuasa.
Surat yang bertarikh 6hb April tersebut adalah balasan kepada soalan-soalan yang telah dibangkitkan oleh pihak PAC pada 4hb April dan diputuskan supaya Pengerusi menulis kepada Bank Negara untuk mendapat penjelasan selanjutnya.
Keengganan Datuk Hasan untuk mengedarkan surat rasmi tersebut kepada ahli-ahli PAC merupakan kali pertama dalam sejarah PAC di mana maklumat yang telah diterima oleh Pengerusi PAC tidak dikongsikan dengan ahli-ahli jawatankuasa. Tindakan beliau merupakan satu penghinaan kepada ahli-ahli PAC yang dilantik oleh Parlimen sendiri.
Ini telah membangkitan perasaan kecurigaan terhadap Datuk Hasan, sama ada beliau sengaja menyembunyikan surat tersebut supaya maklumat-maklumat penting yang akan membuktikan penyelewengan antara 1MDB dan Good Star Limited tidak didedahkan.
Kami meminta supaya kalau benar-benar tiada “cover up” berlaku, surat tersebut yang merupakan satu dokumen yang perlu dinilai oleh PAC mesti ditunjuk kepada ahli-ahli jawatankuasa dengan serta-merta.
Dikeluarkan oleh:
Tan Seng Giaw, Timbalan Pengerusi PAC
Datuk Kamarul Baharin
William Leong
Datuk Takiyuddin Hassan
Tony Pua
Why can’t the Auditor-General’s Report on 1MDB be tabled in Parliament and made public similar to other A-G Reports?
The Minister in the Prime Minister’s Department, Datuk Azalina Othman said that “there is no need for the government to present the auditor-general's final report on 1MDB to Parliament”. She said this was because the Public Accounts Committee's (PAC) report on 1MDB had been tabled to Dewan Rakyat.
"The auditor-general's report was discussed in PAC before it concluded its report," she responded to the Parliamentary question from the Member of Parliament for Kuala Kedah, Azman Ismail yesterday.
In another reply to the Member of Parliament for Raub, Datuk Mohd Ariff Sabri, she said that "the auditor-general's report on 1MDB was classified under the OSA to ensure there was no leakage of information throughout the PAC proceedings. The auditor-general report was specifically meant for PAC.”
The responses by the Minister in the Prime Minister’s Department demonstrate the entrenched culture of secrecy and opacity to cover up the shenanigans which are linked to the top political leadership of UMNO and Barisan Nasional.
Just because the PAC tables its own findings and conclusions on 1MDB, it does not mean that the Auditor-General’s Report cannot be tabled as an appendix as well. On the contrary, the PAC Report makes numerous references to the Auditor-General’s Report which will necessitate the tabling of the latter as an appendix to provide the Malaysian public with all the relevant information and evidence with the complete picture.
While we concede that the OSA was used to “ensure there was no leakage of information throughout the PAC proceedings”, the fact that the proceedings have ended means that the AG Report should be immediately declassified. It is no longer necessary for the Cabinet to maintain its OSA status.
In fact, the Auditor-General has also tabled its regular reports on its audit of selected Government departments yesterday to both the Parliament and the PAC. The latest edition of the report exposed continued multi-billion ringgit of abuses and wastages by various Government ministries and departments.
For example, there was mismanagement of RM312 million disaster relief fund for flood victims, the RM2.23 billion “River of Life” project and the RM1.42 billion Solid Waste Disposal sites.
If these “departmental” abuses can be tabled in Parliament prior to the PAC even conducting further investigations on the respective problematic projects, why is there a special need for secrecy for 1MDB, which is merely another Ministry of Finance subsidiary? Or is it?
Is it because the Auditor-General’s Report will incriminate the Finance and Prime Minister himself, Dato’ Seri Najib Razak and hence the desperate attempts by the Executive to ensure that the Auditor-General’s Report cannot even be tabled to Parliament and will never see the light of day?
However, if Dato’ Seri Najib Razak feels such allegations are unfair and are designed to malign his reputation, and that he has absolutely nothing to hide, then he should immediately order the Auditor-General’s Report to be declassified immediately.
"The auditor-general's report was discussed in PAC before it concluded its report," she responded to the Parliamentary question from the Member of Parliament for Kuala Kedah, Azman Ismail yesterday.
In another reply to the Member of Parliament for Raub, Datuk Mohd Ariff Sabri, she said that "the auditor-general's report on 1MDB was classified under the OSA to ensure there was no leakage of information throughout the PAC proceedings. The auditor-general report was specifically meant for PAC.”
The responses by the Minister in the Prime Minister’s Department demonstrate the entrenched culture of secrecy and opacity to cover up the shenanigans which are linked to the top political leadership of UMNO and Barisan Nasional.
Just because the PAC tables its own findings and conclusions on 1MDB, it does not mean that the Auditor-General’s Report cannot be tabled as an appendix as well. On the contrary, the PAC Report makes numerous references to the Auditor-General’s Report which will necessitate the tabling of the latter as an appendix to provide the Malaysian public with all the relevant information and evidence with the complete picture.
While we concede that the OSA was used to “ensure there was no leakage of information throughout the PAC proceedings”, the fact that the proceedings have ended means that the AG Report should be immediately declassified. It is no longer necessary for the Cabinet to maintain its OSA status.
In fact, the Auditor-General has also tabled its regular reports on its audit of selected Government departments yesterday to both the Parliament and the PAC. The latest edition of the report exposed continued multi-billion ringgit of abuses and wastages by various Government ministries and departments.
For example, there was mismanagement of RM312 million disaster relief fund for flood victims, the RM2.23 billion “River of Life” project and the RM1.42 billion Solid Waste Disposal sites.
If these “departmental” abuses can be tabled in Parliament prior to the PAC even conducting further investigations on the respective problematic projects, why is there a special need for secrecy for 1MDB, which is merely another Ministry of Finance subsidiary? Or is it?
Is it because the Auditor-General’s Report will incriminate the Finance and Prime Minister himself, Dato’ Seri Najib Razak and hence the desperate attempts by the Executive to ensure that the Auditor-General’s Report cannot even be tabled to Parliament and will never see the light of day?
However, if Dato’ Seri Najib Razak feels such allegations are unfair and are designed to malign his reputation, and that he has absolutely nothing to hide, then he should immediately order the Auditor-General’s Report to be declassified immediately.
Wednesday, May 18, 2016
Is RTM not interested in hosting the debate between Arul Kanda and myself now because 1MDB has been proven to be lying to Malaysians all along?
Yesterday, I had called upon the Communications and Multimedia Minister, Dato’ Seri Salleh Keruak to once again offer RTM to broadcast the debate between Arul Kanda and myself “live”. Last October, the Minister was very quick and eager to offer the platform for the debate last October.
However, I’m extremely disappointed that the Minister has rejected the opportunity to telecast the debate live to all Malaysians throughout the country.
Dato’ Seri Salleh Keruak said that “we are not interested as investigations conducted by the Public Accounts Committee (PAC) and the Auditor-General have been concluded. If anyone is interested to debate on it, they can do so in the Parliament… What's going on now is more of a business dispute between 1MDB and the International Petroleum Investment Co (IPIC).”
The excuse provided by the Minister does not make any sense. Now that the PAC Report on 1MDB has been tabled to Parliament, it is all the more important for the findings to be debated.
This is especially since all Cabinet members claimed that the PAC Report has apparently cleared all wrongdoings by the Prime Minister and 1MDB. On the other hand, critics like myself who is part of the PAC clearly sees the report as damning, particularly with the respect that 1MDB has refused to cooperate fully with the Auditor-General.
Dato’ Seri Salleh’s claim that the massive US$3.5 billion bond defaults by 1MDB is “more of a business dispute between 1MDB and IPIC” is even more unbelievable. 1MDB has recorded the highest borrowin defaults by any government company in the history of the country, and this is a crisis of epic proportions which must be addressed by both 1MDB and the Government.
The live debate between Arul Kanda and myself will enable Malaysians to decide for themselves who is telling the truth and who is hiding from the truth. The refusal by the Communications and Multimedia Minister from hosting the show this time round is clearly a refusal to expose the truth to ordinary Malaysians.
However, I’m extremely disappointed that the Minister has rejected the opportunity to telecast the debate live to all Malaysians throughout the country.
Dato’ Seri Salleh Keruak said that “we are not interested as investigations conducted by the Public Accounts Committee (PAC) and the Auditor-General have been concluded. If anyone is interested to debate on it, they can do so in the Parliament… What's going on now is more of a business dispute between 1MDB and the International Petroleum Investment Co (IPIC).”
The excuse provided by the Minister does not make any sense. Now that the PAC Report on 1MDB has been tabled to Parliament, it is all the more important for the findings to be debated.
This is especially since all Cabinet members claimed that the PAC Report has apparently cleared all wrongdoings by the Prime Minister and 1MDB. On the other hand, critics like myself who is part of the PAC clearly sees the report as damning, particularly with the respect that 1MDB has refused to cooperate fully with the Auditor-General.
Dato’ Seri Salleh’s claim that the massive US$3.5 billion bond defaults by 1MDB is “more of a business dispute between 1MDB and IPIC” is even more unbelievable. 1MDB has recorded the highest borrowin defaults by any government company in the history of the country, and this is a crisis of epic proportions which must be addressed by both 1MDB and the Government.
The live debate between Arul Kanda and myself will enable Malaysians to decide for themselves who is telling the truth and who is hiding from the truth. The refusal by the Communications and Multimedia Minister from hosting the show this time round is clearly a refusal to expose the truth to ordinary Malaysians.
Malaysians are unable to confirm fraud in 1MDB precisely because Dato’ Seri Najib Razak is hampering investigations
Dato’ Seri Najib Razak claimed in his parliamentary reply as the Finance Minister to the Member of Parliament for Bagan, Lim Guan Eng, that it's still too early to conclude if fraud had occurred in the US$3.5 billion transaction between 1MDB and International Petroleum Investment Company (IPIC).
This was despite the fact that by 1MDB’s own admission to the Auditor-General, it has paid as much as US$3.51 billion to an “Aabar Investment PJS Limited” incorporated in the British Virgin Islands (BVI) between May 2012 to January 2015. IPIC has disclosed last month that the BVI-incorporated entity is completely unrelated to itself or its similarly named subsidiary, Aabar Investment PJS, incorporated in Abu Dhabi.
It is now public knowledge that the BVI-Aabar has been wound up in mid-2015 and no one knows where the US$3.51 billion paid by 1MDB has gone to. IPIC has publicly denied that it received any of the funds and has called a default on the debt-asset swap agreement with 1MDB signed in May 2015.
Even 1MDB President, Arul Kanda conceded that “what we cannot discount is there could actually be fraud...a massive fraud...and maybe there was collaboration from our side”.
The shocking loss of US$3.51 billion of funds would have justified the mobilisation of all investigation resources to uncover the truth behind the missing funds. However, all we got was a nonchalant response from the Finance Minister himself that “it’s still too early to conclude if fraud has occurred”.
The problem is 1MDB hasn’t even filed a police report for an investigation to take place to uncover Arul Kanda’s concern that there “could actually be fraud… a massive fraud” and even “collaboration” from 1MDB’s officers.
And worse, even where some form of investigation was taking place by the Auditor-General (AG) and the Public Accounts Committee (PAC), 1MDB has failed to provide full cooperation.
For example, 1MDB refused, despite repeated request by the AG and the PAC over the period of nearly a year, to hand over its bank statements of its overseas accounts, and that of its overseas subsidiaries.
When I posed the question to the Finance Minister, Dato’ Seri Najib Razak only responded lamely in his Parliamentary reply that “all documents in 1MDB’s possession and/or those which were accessible and/or those which it was able to obtain has already been handed over to the National Audit Department”.
Dato’ Seri Najib Razak failed to address the question as to why 1MDB could not have the bank statements re-issued by the respective banks, if the original statements were no longer in the company’s possession.
Surely, the Finance Minister would know that missing bank statement could easily be re-printed within a few days at the most?
Hence not only did Dato’ Seri Najib Razak fail in his responsibility to ensure that the wholly-owned Ministry of Finance subsidiary comply fully with all the request by the AG and the PAC, the fact that he is now defending 1MDB with the lamest of excuses only goes to prove that the Prime Minister himself is covering up the single-largest fraud in Malaysia’s history.
By withholding crucial evidence to the investigating authorities, fraud then cannot be proven and Dato’ Seri Najib Razak can then continue to hold his head high, maintain a straight face and claim that “it is too early to conclude if fraud had occurred” in the US$3.51 billion payment to the bogus BVI-Aabar.
Malaysians cannot be blamed for asking why Dato’ Seri Najib Razak is trying to protect the criminals behind this heinous heist of the century.
This was despite the fact that by 1MDB’s own admission to the Auditor-General, it has paid as much as US$3.51 billion to an “Aabar Investment PJS Limited” incorporated in the British Virgin Islands (BVI) between May 2012 to January 2015. IPIC has disclosed last month that the BVI-incorporated entity is completely unrelated to itself or its similarly named subsidiary, Aabar Investment PJS, incorporated in Abu Dhabi.
It is now public knowledge that the BVI-Aabar has been wound up in mid-2015 and no one knows where the US$3.51 billion paid by 1MDB has gone to. IPIC has publicly denied that it received any of the funds and has called a default on the debt-asset swap agreement with 1MDB signed in May 2015.
Even 1MDB President, Arul Kanda conceded that “what we cannot discount is there could actually be fraud...a massive fraud...and maybe there was collaboration from our side”.
The shocking loss of US$3.51 billion of funds would have justified the mobilisation of all investigation resources to uncover the truth behind the missing funds. However, all we got was a nonchalant response from the Finance Minister himself that “it’s still too early to conclude if fraud has occurred”.
The problem is 1MDB hasn’t even filed a police report for an investigation to take place to uncover Arul Kanda’s concern that there “could actually be fraud… a massive fraud” and even “collaboration” from 1MDB’s officers.
And worse, even where some form of investigation was taking place by the Auditor-General (AG) and the Public Accounts Committee (PAC), 1MDB has failed to provide full cooperation.
For example, 1MDB refused, despite repeated request by the AG and the PAC over the period of nearly a year, to hand over its bank statements of its overseas accounts, and that of its overseas subsidiaries.
When I posed the question to the Finance Minister, Dato’ Seri Najib Razak only responded lamely in his Parliamentary reply that “all documents in 1MDB’s possession and/or those which were accessible and/or those which it was able to obtain has already been handed over to the National Audit Department”.
Dato’ Seri Najib Razak failed to address the question as to why 1MDB could not have the bank statements re-issued by the respective banks, if the original statements were no longer in the company’s possession.
Surely, the Finance Minister would know that missing bank statement could easily be re-printed within a few days at the most?
Hence not only did Dato’ Seri Najib Razak fail in his responsibility to ensure that the wholly-owned Ministry of Finance subsidiary comply fully with all the request by the AG and the PAC, the fact that he is now defending 1MDB with the lamest of excuses only goes to prove that the Prime Minister himself is covering up the single-largest fraud in Malaysia’s history.
By withholding crucial evidence to the investigating authorities, fraud then cannot be proven and Dato’ Seri Najib Razak can then continue to hold his head high, maintain a straight face and claim that “it is too early to conclude if fraud had occurred” in the US$3.51 billion payment to the bogus BVI-Aabar.
Malaysians cannot be blamed for asking why Dato’ Seri Najib Razak is trying to protect the criminals behind this heinous heist of the century.
Datuk Azalina Othman lied in Parliament that the PAC Chairman informed or showed its members Bank Negara letter stating that information provided to the PAC was confidential
Datuk Azalina Othman, in her response to a question posed by the Member of Parliament for Bagan, Lim Guan Eng, claimed that the PAC Chairman Datuk Hasan Arifin has received information from Bank Negara (BNM) which claimed that the information provided by BNM was “confidential” and not meant to be used for the court of law or for public consumption.
The PAC had its final meeting which approved the final PAC Report on 1MDB for publication on 4 April 2016. The report was tabled in Parliament 3 days later on the 7 April.
Datuk Hasan Arifin never at any point of time communicated with the PAC members on any developments subsequent to the meeting on the 4 April. Hence PAC members were shocked to discover upon perusing the tabled report that two crucial lines in the report was deleted unilaterally by the PAC Chairman.
The deleted lines quoted an earlier Bank Negara clarification letter to the PAC, which stated that Good Star Limited, a recipient of US$1.03 billion of 1MDB funds meant for the latter’s investment with Petrosaudi International Limited, was “a company owned by an individual unrelated to Petrosaudi International”.
The deleted lines clearly indicate a brazen case of misappropriation by 1MDB which also proves the allegations made by the 1MDB critics such as The Sarawak Report, The Edge, The Wall Street Journal and opposition critics.
The question then is, what exactly are the damaging contents of this letter dated 6 April which is so “confidential” and cannot be shared with the public?
What is even more interesting however, is how come the Minister in the Prime Minister’s Department is privy to a letter from the Deputy Bank Negara Governor to the PAC Chairman dated 6 April when the members of the PAC are completely clueless above the matter?
Is there now a collusion between the PAC Chairman and the Prime Minister’s Department to cover up the entire scandal by scheming a coordinated response to the clear cut abuse of power by Datuk Hasan Arifin?
"Pengerusi PAC (Datuk Hasan Arifin) menerima maklumat daripada Bank Negara Malaysia yang menyatakan bahawa segala maklumat yang diberi adalah berstatus 'sulit bagi tujuan risikan sahaja dan bukan untuk kegunaan mahkamah atau laporan awam."She further claimed that PAC members have been informed of the above letter from the Deputy BNM Governor.
“Untuk makluman, semua anggota PAC telah dimaklumkan mengenai perkara ini melalui surat Pengerusi PAC kepada Timbalan Gabenor Bank Negara bertarikh 6 April.”Let me state in unequivocal terms that Datuk Azalina Othman’s reply is at best misleading, at worst an outright lie with regards to the above matter.
The PAC had its final meeting which approved the final PAC Report on 1MDB for publication on 4 April 2016. The report was tabled in Parliament 3 days later on the 7 April.
Datuk Hasan Arifin never at any point of time communicated with the PAC members on any developments subsequent to the meeting on the 4 April. Hence PAC members were shocked to discover upon perusing the tabled report that two crucial lines in the report was deleted unilaterally by the PAC Chairman.
The deleted lines quoted an earlier Bank Negara clarification letter to the PAC, which stated that Good Star Limited, a recipient of US$1.03 billion of 1MDB funds meant for the latter’s investment with Petrosaudi International Limited, was “a company owned by an individual unrelated to Petrosaudi International”.
The deleted lines clearly indicate a brazen case of misappropriation by 1MDB which also proves the allegations made by the 1MDB critics such as The Sarawak Report, The Edge, The Wall Street Journal and opposition critics.
The question then is, what exactly are the damaging contents of this letter dated 6 April which is so “confidential” and cannot be shared with the public?
What is even more interesting however, is how come the Minister in the Prime Minister’s Department is privy to a letter from the Deputy Bank Negara Governor to the PAC Chairman dated 6 April when the members of the PAC are completely clueless above the matter?
Is there now a collusion between the PAC Chairman and the Prime Minister’s Department to cover up the entire scandal by scheming a coordinated response to the clear cut abuse of power by Datuk Hasan Arifin?
Tuesday, May 17, 2016
Why doesn’t the Government just stop all Malaysians from travelling overseas since it does not have to give any reason under the Immigration Act?
I am disappointed that former Public Accounts Committee Chairman, Datuk Nur Jazlan has decided that there is absolutely no need for the Government to be transparent and accountable for its decisions.
The Deputy Home Minister Nur Jazlan Mohamed said the government need not have to give reasons for barring Bersih chairperson Maria Chin Abdullah from leaving Malaysia.He told reporters that “it's a power given under the Immigration Act, we don't need to explain why... We are not compelled to give a reason.”
Even if it is true that the law gives the Government such dictatorial rights, a Government who prides itself on transparency and accountability will nevertheless attempt to justify its actions.
The lack of such transparency and accountability only points to a Government which is intent on abusing its powers to repress its critics and dissidents. Maria Chin was on the way to South Korea to receive the prestigious Gwangju Prize Human Rights Award, an award previously bestowed upon Aung Sang Suu Kyi and Xanana Gusmao.
At the same time, even if a law grants the authorities the relevant discretion to exercise its powers, such discretion under any democratic regime governed by the rule of law must be exercised reasonably. Such discretion were never meant to be abused according to the authorities’ whims and fancies.
I have been barred from leaving the country since 24 July 2015. The Government and the Director of Immigration had similarly refused to provide me with any reason as to why I have been barred from leaving the country.
It was only when the decision was challenged in court that the Director of Immigration provided an affidavit which disclosed that I have had my travel rights restricted because I was allegedly under police investigations for “activities detrimental to parliamentary democracy" which carries up to a 20-year prison sentence.
Even so, I have only been called in for questioning by the Police as a witness for their investigations and have never been informed by any parties that I was ever a suspect.
Hence the Government’s crude attempts to restrict our travel rights are outrageous abuse of power, which only serves to prove the critics allegations of Malaysia transforming itself to be police state run by a tin-pot dictatorship.
The Deputy Home Minister Nur Jazlan Mohamed said the government need not have to give reasons for barring Bersih chairperson Maria Chin Abdullah from leaving Malaysia.He told reporters that “it's a power given under the Immigration Act, we don't need to explain why... We are not compelled to give a reason.”
Even if it is true that the law gives the Government such dictatorial rights, a Government who prides itself on transparency and accountability will nevertheless attempt to justify its actions.
The lack of such transparency and accountability only points to a Government which is intent on abusing its powers to repress its critics and dissidents. Maria Chin was on the way to South Korea to receive the prestigious Gwangju Prize Human Rights Award, an award previously bestowed upon Aung Sang Suu Kyi and Xanana Gusmao.
At the same time, even if a law grants the authorities the relevant discretion to exercise its powers, such discretion under any democratic regime governed by the rule of law must be exercised reasonably. Such discretion were never meant to be abused according to the authorities’ whims and fancies.
I have been barred from leaving the country since 24 July 2015. The Government and the Director of Immigration had similarly refused to provide me with any reason as to why I have been barred from leaving the country.
It was only when the decision was challenged in court that the Director of Immigration provided an affidavit which disclosed that I have had my travel rights restricted because I was allegedly under police investigations for “activities detrimental to parliamentary democracy" which carries up to a 20-year prison sentence.
Even so, I have only been called in for questioning by the Police as a witness for their investigations and have never been informed by any parties that I was ever a suspect.
Hence the Government’s crude attempts to restrict our travel rights are outrageous abuse of power, which only serves to prove the critics allegations of Malaysia transforming itself to be police state run by a tin-pot dictatorship.
Sunday, May 15, 2016
Singapore investigations shifts focus back to the clandestine operations of former 1MDB subsidiary, SRC International
Investigations by Singapore authorities have revealed that Ministry of Finance subsidiary, SRC International managing director Nik Faisal Ariff Kamil approved the transfer of US$11.95 million (RM48 million) of the company's funds to Jho Low's associate Tan Kim Loong.
Tan, according to The Wall Street Journal, is the original beneficiary of British Virgin Islands-based Tanore Finance, which had sent US$681 million to Prime Minister Najib Abdul Razak's personal bank accounts.
Singapore’s Business Times reported that the latest charge against former BSI banker Yeo Jia Wei was for facilitating, through fraudulent means, the transfer of US$11.95 million from SRC International to Affinity Equity International Partners Ltd, a company owned by Tan.
As international investigations begin to provide a clearer and more detailed picture of the scale of embezzlement via duplicitous transactions by 1MDB and SRC International, investigations in Malaysia on the other hand, have effectively ground to a halt.
While the focus of the international press and local critics have been aimed at the debt-ridden 1MDB, its former subsidiary SRC International has been kept relatively under the radar. However, if 1MDB was found by the parliamentary Public Accounts Committee (PAC) to have suffered from gross mismanagement, then stranger and more suspicious transactions have taken place in SRC International.
First of all, given all the shenanigans which took place in SRC International including the latest disclosure in Singapore, and the known fact that Nik Faisal has disappeared off the face of Malaysia for nearly a year, why is Nik Faisal still a Director and the Managing Director of the company?
Secondly, his fellow director, Datuk Suboh Mohd Yassin has also similarly disappeared from the country. Why have they not been replaced by Ministry of Finance officials? With a Federal Government guaranteed RM4 billion loan from the Malaysian Pension Fund (KWAP), who exactly is running the company today? Or is the company being run via remote control by fugitives?
Thirdly, the Attorney-General has confirmed that RM27 million originating from SRC International found its way into Dato’ Seri Najib Razak’s personal account in July 2014. The Wall Street Journal has further alleged that another RM42 million from SRC International was transferred via intermediaries into the Prime Minister’s account between December 2014 and March 2015.
The Attorney-General said no charges will be filed against the Prime Minister for criminal breach of trust on the amazing excuse that the Prime Minister did not know that the tens of millions deposited into his account came from SRC International. However, in that case, why haven’t those involved in SRC International been investigated and charged for siphoning funds to the Dato’ Seri Najib Razak’s personal account?
Fourthly, the Sarawak Report has earlier exposed that Nik Faisal was given a power of attorney to manage Dato’ Seri Najib Razak’s personal account – a damning allegation which has not been denied by the Prime Minister. Would this be a reason why Nik Faisal is given special protection by the powers that be?
Finally, while it is no longer denied that Dato’ Seri Najib Razak received at least RM69 million from SRC International, even if it was unwittingly received, why hasn’t the funds been returned to SRC International?
If the Prime Minister really did not realise then that the RM69 million deposited into his personal bank account came from SRC International, shouldn't he return the money immediately? If Dato’ Seri Najib Razak could be so honest as to return some US$620 million of unutilised donation to his mysterious alleged Arab donor, why could he return the paltry RM69 million?
Dato’ Seri Najib Razak, who is also the Finance Minister, must answer these crucial questions pertaining to SRC International during two-week Parliamentary sitting commencing tomorrow.
Tan, according to The Wall Street Journal, is the original beneficiary of British Virgin Islands-based Tanore Finance, which had sent US$681 million to Prime Minister Najib Abdul Razak's personal bank accounts.
Singapore’s Business Times reported that the latest charge against former BSI banker Yeo Jia Wei was for facilitating, through fraudulent means, the transfer of US$11.95 million from SRC International to Affinity Equity International Partners Ltd, a company owned by Tan.
As international investigations begin to provide a clearer and more detailed picture of the scale of embezzlement via duplicitous transactions by 1MDB and SRC International, investigations in Malaysia on the other hand, have effectively ground to a halt.
While the focus of the international press and local critics have been aimed at the debt-ridden 1MDB, its former subsidiary SRC International has been kept relatively under the radar. However, if 1MDB was found by the parliamentary Public Accounts Committee (PAC) to have suffered from gross mismanagement, then stranger and more suspicious transactions have taken place in SRC International.
First of all, given all the shenanigans which took place in SRC International including the latest disclosure in Singapore, and the known fact that Nik Faisal has disappeared off the face of Malaysia for nearly a year, why is Nik Faisal still a Director and the Managing Director of the company?
Secondly, his fellow director, Datuk Suboh Mohd Yassin has also similarly disappeared from the country. Why have they not been replaced by Ministry of Finance officials? With a Federal Government guaranteed RM4 billion loan from the Malaysian Pension Fund (KWAP), who exactly is running the company today? Or is the company being run via remote control by fugitives?
Thirdly, the Attorney-General has confirmed that RM27 million originating from SRC International found its way into Dato’ Seri Najib Razak’s personal account in July 2014. The Wall Street Journal has further alleged that another RM42 million from SRC International was transferred via intermediaries into the Prime Minister’s account between December 2014 and March 2015.
The Attorney-General said no charges will be filed against the Prime Minister for criminal breach of trust on the amazing excuse that the Prime Minister did not know that the tens of millions deposited into his account came from SRC International. However, in that case, why haven’t those involved in SRC International been investigated and charged for siphoning funds to the Dato’ Seri Najib Razak’s personal account?
Fourthly, the Sarawak Report has earlier exposed that Nik Faisal was given a power of attorney to manage Dato’ Seri Najib Razak’s personal account – a damning allegation which has not been denied by the Prime Minister. Would this be a reason why Nik Faisal is given special protection by the powers that be?
Finally, while it is no longer denied that Dato’ Seri Najib Razak received at least RM69 million from SRC International, even if it was unwittingly received, why hasn’t the funds been returned to SRC International?
If the Prime Minister really did not realise then that the RM69 million deposited into his personal bank account came from SRC International, shouldn't he return the money immediately? If Dato’ Seri Najib Razak could be so honest as to return some US$620 million of unutilised donation to his mysterious alleged Arab donor, why could he return the paltry RM69 million?
Dato’ Seri Najib Razak, who is also the Finance Minister, must answer these crucial questions pertaining to SRC International during two-week Parliamentary sitting commencing tomorrow.
Saturday, May 14, 2016
DAP Selangor has taken necessary actions and filed a report against Loh Chee Heng, state assemblyman for Telok Dato to the MACC
The DAP Disciplinary Committee has notified DAP Selangor that Telok Dato state assemblyman, Loh Chee Heng has been expelled from the party with immediate effect today.
DAP Selangor had earlier received complaints from its members of alleged improprieties carried out by its state assemblyman for Telok Dato, Loh Chee Heng with regards to his constituency allocations. We have set up a sub-committee which has investigated the relevant complaints over the past 8 weeks.
The findings of the subcommittee were presented to the DAP Disciplinary Committee.
At the same time, based on our findings, DAP Selangor had filed a report with the Malaysian Anti-Corruption Commission (MACC) for their further investigation. The report was filed with MACC Selangor in Shah Alam on Wednesday, 11 May 2016.
DAP Selangor would like to reiterate the Party’s commitment in upholding our core values in promoting good governance, integrity and accountability. We will not tolerate any actions by any of its leaders or members which betrays the trust of the people we seek to represent and destroy the credibility of the Party.
DAP Selangor had earlier received complaints from its members of alleged improprieties carried out by its state assemblyman for Telok Dato, Loh Chee Heng with regards to his constituency allocations. We have set up a sub-committee which has investigated the relevant complaints over the past 8 weeks.
The findings of the subcommittee were presented to the DAP Disciplinary Committee.
At the same time, based on our findings, DAP Selangor had filed a report with the Malaysian Anti-Corruption Commission (MACC) for their further investigation. The report was filed with MACC Selangor in Shah Alam on Wednesday, 11 May 2016.
DAP Selangor would like to reiterate the Party’s commitment in upholding our core values in promoting good governance, integrity and accountability. We will not tolerate any actions by any of its leaders or members which betrays the trust of the people we seek to represent and destroy the credibility of the Party.
Friday, May 13, 2016
Dato' Seri Najib Razak must explain how his stepson, Riza Aziz could amass such enormous wealth which WSJ now attributes to be sourced from 1MDB
Riza Aziz acquired a US$33.5 million 7,700-square-foot duplex in the Park Laurel condominium tower overlooking New York’s Central Park and an 11,000-square-foot walled mansion in Beverly Hills with a 120-foot-long pool for more than $17.5 million in 2012.
These property transactions worth US$51 million (RM204 million) was first exposed by The Sarawak Report in December 2013. They were subsequently confirmed by Riza Aziz himself to the New York Times, in a story entitled “Jho Low, Well-Connected in Malaysia, Has Appetite for New York”, published in February 2015.
However yesterday, for the first time, The Wall Street Journal made the allegation which Malaysians have suspected all along, that the source of funds for the above purchases originated from the controversial debt-ridden 1Malaysia Development Bhd (1MDB).
The global financial daily reported that investigators believe that money used to buy the two properties was part of at least $238 million that was transferred to an offshore company wholly owned by Riza Aziz, Red Granite Capital from Aabar Investments PJS Ltd. The funds were transferred directly and indirectly via intermediaries in batches of US$133 million, US$60 million, US$45 million and US$50 million throughout 2012.
Based on information 1MDB provided to the Auditor-General which was cited in the Public Accounts Committee (PAC) Report on 1MDB, the company had paid the British Virgin Islands (BVI)-incorporated Aabar Investment PJS Ltd US$567 million and US$790 million in May and October 2012 respectively as “refundable security deposits”. 1MDB had further paid the BVI-Aabar US$2.143 billion between September 2014 to January 2015 purportedly for “options termination compensation” and “top-up security deposits”.
However, Aabar Investment PJS Ltd which has already been liquidated, has recently been exposed as a fraud when the parent of the real Aabar Investment PJS incorporated in Abu Dhabi, International Petroleum Investment Corporation (IPIC) officially denied any ties with the similarly named BVI company.
According to The Wall Street Journal, the new documents also show that $60 million of the total received by Red Granite Capital was sent on the same day that 1MDB sent the $790 million to Aabar in the British Virgin Islands.
Dato’ Seri Najib Razak had told The New York Times previously that he “does not track how much Mr. Aziz earns or how such earnings are reinvested.” As for the prime minister himself, the Prime Minister said he had “received inheritance.”
Such tenuous reply, already incredulous in the first place, can no longer justify Dato’ Seri Najib Razak’s continued silence on his stepson’s spending spree in the United States.
The Wall Street Journal previous allegations such as the billions of dollars of 1MDB funds have been misappropriated to a fraudulent Aabar Investment PJS Limited have proven themselves to be true.The latest allegation, if proven true, will show that Dato’ Seri Najib
Razak’s direct family members have benefited at least hundreds of millions from the misappropriated funds to acquire outrageously priced property assets overseas.
The Prime Minister must now show proof that Riza Aziz, with less than 4 years prior experience as a junior banker with HSBC London prior to founding Red Granite in 2011 obtained his wealth legally, above board and unrelated to 1MDB. If Dato’ Seri Najib Razak refuses to do so, then he cannot blame ordinary Malaysians who believes him to be completely guilty of corruption and abuse of power.
These property transactions worth US$51 million (RM204 million) was first exposed by The Sarawak Report in December 2013. They were subsequently confirmed by Riza Aziz himself to the New York Times, in a story entitled “Jho Low, Well-Connected in Malaysia, Has Appetite for New York”, published in February 2015.
However yesterday, for the first time, The Wall Street Journal made the allegation which Malaysians have suspected all along, that the source of funds for the above purchases originated from the controversial debt-ridden 1Malaysia Development Bhd (1MDB).
The global financial daily reported that investigators believe that money used to buy the two properties was part of at least $238 million that was transferred to an offshore company wholly owned by Riza Aziz, Red Granite Capital from Aabar Investments PJS Ltd. The funds were transferred directly and indirectly via intermediaries in batches of US$133 million, US$60 million, US$45 million and US$50 million throughout 2012.
Based on information 1MDB provided to the Auditor-General which was cited in the Public Accounts Committee (PAC) Report on 1MDB, the company had paid the British Virgin Islands (BVI)-incorporated Aabar Investment PJS Ltd US$567 million and US$790 million in May and October 2012 respectively as “refundable security deposits”. 1MDB had further paid the BVI-Aabar US$2.143 billion between September 2014 to January 2015 purportedly for “options termination compensation” and “top-up security deposits”.
However, Aabar Investment PJS Ltd which has already been liquidated, has recently been exposed as a fraud when the parent of the real Aabar Investment PJS incorporated in Abu Dhabi, International Petroleum Investment Corporation (IPIC) officially denied any ties with the similarly named BVI company.
According to The Wall Street Journal, the new documents also show that $60 million of the total received by Red Granite Capital was sent on the same day that 1MDB sent the $790 million to Aabar in the British Virgin Islands.
Dato’ Seri Najib Razak had told The New York Times previously that he “does not track how much Mr. Aziz earns or how such earnings are reinvested.” As for the prime minister himself, the Prime Minister said he had “received inheritance.”
Such tenuous reply, already incredulous in the first place, can no longer justify Dato’ Seri Najib Razak’s continued silence on his stepson’s spending spree in the United States.
The Wall Street Journal previous allegations such as the billions of dollars of 1MDB funds have been misappropriated to a fraudulent Aabar Investment PJS Limited have proven themselves to be true.The latest allegation, if proven true, will show that Dato’ Seri Najib
Razak’s direct family members have benefited at least hundreds of millions from the misappropriated funds to acquire outrageously priced property assets overseas.
The Prime Minister must now show proof that Riza Aziz, with less than 4 years prior experience as a junior banker with HSBC London prior to founding Red Granite in 2011 obtained his wealth legally, above board and unrelated to 1MDB. If Dato’ Seri Najib Razak refuses to do so, then he cannot blame ordinary Malaysians who believes him to be completely guilty of corruption and abuse of power.
Thursday, May 12, 2016
Dato' Seri Najib Razak is playing the broken record by blaming 1MDB's failed IPO exercise on its critics
Prime Minister Najib Razak said a failed initial public offering (IPO) exercise, as a result of being "attacked", was the main reason why 1Malaysia Development Bhd (1MDB) encountered problems.
"When the 'attacks' were mounted, the IPO exercise could not be carried out, hence the cash flow problems," Najib said in an exclusive interview telecast live over TV1 last night in conjunction with UMNO's 70th anniversary today.
1MDB must be operating on the worst business model in the world by hedging its success or failure entirely on its ability to IPO its subsidiary. If 1MDB business collapsed just because of a failed IPO, that was probably the reason why the IPO failed in the first place.
Why were they not able to IPO? Laughably, Dato' Seri Najib blamed its failure on the critics on 1MDB. If we critics are so powerful, then we would have stopped so many other IPOs and related transactions such as Felda Global Ventures Holdings or other privatisation and fund-raising projects by the BN administration.
The real reason why the IPO failed in the first place is because 1MDB overpaid for the assets and no investors in their right minds would pay more than the RM12.1 billion 1MDB paid.
In addition, the Government had gone out of its way to award 1MDB with multiple multi-billion ringgit new power plant contracts to boost its valuation.
However, despite the overwhelming support given by the Government, the PAC Report disclosed that 1MDB's doomed submission to the Securities Commission indicated a valuation of only RM9.86 billion to RM11.3 billion. (Page 74 of the PAC Report on 1MDB)
Hence the IPO failed because 1MDB was unable to justify the ridiculous valuation paid for its energy assets, but Dato Seri Najib chose to conveniently blame the scandal-ridden firm's critics.
The real reason as to why 1MDB has failed however, is because tens of billions of ringgit has gone missing.
For example, 1MDB had borrowed US$3.5 billion and RM6.7 billion (or an approximate total of RM20.7 billion) to acquire its RM12.1 billion worth of power plants. The question is where did the balance of the cash go?
The Auditor-General has specifically confirmed that US$7 billion of 1MDB assets and transactions overseas cannot be verified or traced. The figure includes US$1.03 billion paid to Good Star Limited, which Bank Negara has disclosed is owned by an individual unrelated to 1MDB’s joint venture partner, Petrosaudi International Limited.
Another missing US$3.51 billion has purportedly been paid to “Aabar Investment PJS Limited” incorporated in the British Virgin Islands, which Abu Dhabi’s International Petroleum Investment Corporation (IPIC) has confirmed is completely unrelated to its own subsidiary, Aabar Investment PJS.
1MDB has also failed to show any evidence that it is still in possession of US$940 million worth of unexplained “units” in BSI Bank, Singapore. In addition, US$1.56 billion worth of investments by 1MDB Global Investment Limited remains completely unaccounted for.
The fact that Dato’ Seri Najib Razak, who is also the Finance Minister has refused to address these damning issues raised by the PAC Report, but chose to give laughable excuses for 1MDB’s failure only goes to prove that he is lying to the Malaysian public.
Worse, the Prime Minister has chosen to continue making light of the situation by stubbornly refusing to explain to Malaysians if and how the Ministry of Finance will bail out 1MDB which has already defaulted on US$3.5 billion of bonds as of today.
Any Finance Minister in the world with any sense of accountability and integrity would have long resigned from his position to take responsibility for these monstrous losses.
"When the 'attacks' were mounted, the IPO exercise could not be carried out, hence the cash flow problems," Najib said in an exclusive interview telecast live over TV1 last night in conjunction with UMNO's 70th anniversary today.
1MDB must be operating on the worst business model in the world by hedging its success or failure entirely on its ability to IPO its subsidiary. If 1MDB business collapsed just because of a failed IPO, that was probably the reason why the IPO failed in the first place.
Why were they not able to IPO? Laughably, Dato' Seri Najib blamed its failure on the critics on 1MDB. If we critics are so powerful, then we would have stopped so many other IPOs and related transactions such as Felda Global Ventures Holdings or other privatisation and fund-raising projects by the BN administration.
The real reason why the IPO failed in the first place is because 1MDB overpaid for the assets and no investors in their right minds would pay more than the RM12.1 billion 1MDB paid.
In addition, the Government had gone out of its way to award 1MDB with multiple multi-billion ringgit new power plant contracts to boost its valuation.
However, despite the overwhelming support given by the Government, the PAC Report disclosed that 1MDB's doomed submission to the Securities Commission indicated a valuation of only RM9.86 billion to RM11.3 billion. (Page 74 of the PAC Report on 1MDB)
Hence the IPO failed because 1MDB was unable to justify the ridiculous valuation paid for its energy assets, but Dato Seri Najib chose to conveniently blame the scandal-ridden firm's critics.
The real reason as to why 1MDB has failed however, is because tens of billions of ringgit has gone missing.
For example, 1MDB had borrowed US$3.5 billion and RM6.7 billion (or an approximate total of RM20.7 billion) to acquire its RM12.1 billion worth of power plants. The question is where did the balance of the cash go?
The Auditor-General has specifically confirmed that US$7 billion of 1MDB assets and transactions overseas cannot be verified or traced. The figure includes US$1.03 billion paid to Good Star Limited, which Bank Negara has disclosed is owned by an individual unrelated to 1MDB’s joint venture partner, Petrosaudi International Limited.
Another missing US$3.51 billion has purportedly been paid to “Aabar Investment PJS Limited” incorporated in the British Virgin Islands, which Abu Dhabi’s International Petroleum Investment Corporation (IPIC) has confirmed is completely unrelated to its own subsidiary, Aabar Investment PJS.
1MDB has also failed to show any evidence that it is still in possession of US$940 million worth of unexplained “units” in BSI Bank, Singapore. In addition, US$1.56 billion worth of investments by 1MDB Global Investment Limited remains completely unaccounted for.
The fact that Dato’ Seri Najib Razak, who is also the Finance Minister has refused to address these damning issues raised by the PAC Report, but chose to give laughable excuses for 1MDB’s failure only goes to prove that he is lying to the Malaysian public.
Worse, the Prime Minister has chosen to continue making light of the situation by stubbornly refusing to explain to Malaysians if and how the Ministry of Finance will bail out 1MDB which has already defaulted on US$3.5 billion of bonds as of today.
Any Finance Minister in the world with any sense of accountability and integrity would have long resigned from his position to take responsibility for these monstrous losses.
Wednesday, May 11, 2016
Deputy Finance Minister calls 1MDB's engagement with bondholders "a good move" despite its crumbling financial status
1MDB is now on the verge on defaulting on the interest payments for its second US$1.75 billion bond, after defaulting on the first US$1.75 billion bond last month.
1MDB has been forced to “engage”their bondholders to negotiate the defaults in order to limit the financial damage to both the company and its shareholder, the Ministry of Finance (MoF).
And yet, under such dire circumstances, Deputy Finance Minister Johari Abdul Ghani can everything is hunky-dory, call “1MDB's engagement with its US dollar-denominated bondholders is a good move”.
Worse, the MoF is clearly taking a cavalier attitude to the entire financial fiasco by claiming that MoF does “not want to interfere with this because it is between two corporate entities to go and sort out their problems”.
This must be one of the most irresponsible statement by the newly appointed Deputy Finance Minister who replaced the previous bumbling Datuk Ahmad Maslan.
The above bonds were guaranteed by International Petroleum Investment Corporation (IPIC). However, did he overlook the fact that the MoF has provided an indemnity to IPIC for losses and damages suffered by the latter?
If it was merely a “dispute” between “two corporate entities”, then why did MoF agree to provide the indemnity to IPIC in the binding term sheet signed between IPIC and 1MDB in May last year?
Worse, while 1MDB is forced to “engage” with bondholders to “restore market confidence”and “prevent panic”, what about ordinary Malaysian tax-payers who are now liable for a multi-billion dollar bailout of the debt-ridden 1MDB?
Doesn’t Datuk Johari see it necessary to “restore the confidence of” and “prevent panic” by Malaysians?
1MDB has already defaulted on the first US$1.75 billion bond. It will soon default on the second US$1.75 billion bond. 1MDB has at the same time cross-defaulted on another RM7.4 billion of Islamic bonds and possibly a further RM800 million loan from SOCSO. That means that Malaysians are liable to for US$3.5 billion and RM8.2 billion, or a whopping total of approximately RM22.2 billion of 1MDB’s mess.
The above has yet to take into consideration another US$3 billion bond which may be affected at some time in the near future.
Instead of pretending that everything is A-OK, Datuk Johari must explain to Malaysians if we have to foot the bill.
He has earlier promised the Parliament in December last year that the 1Malaysia Development Berhad (1MDB) will resolve “its debt and cash flow issue more quickly without help from the Government.”Is this assurance still valid?
Both the Prime Minister, Datuk Seri Najib Razak and 1MDB’s President Arul Kanda have boasted that the rationalisation exercise has been a success and has been completed. Did they both lie to Malaysians to provide a false front for 1MDB?
If the answers to the above questions are above Datuk Johari’s pay-grade, then he must persuade his boss, Datuk Seri Najib Razak, who is also the Finance Minister to explain the imploding 1MDB disaster to Malaysians.
1MDB has been forced to “engage”their bondholders to negotiate the defaults in order to limit the financial damage to both the company and its shareholder, the Ministry of Finance (MoF).
And yet, under such dire circumstances, Deputy Finance Minister Johari Abdul Ghani can everything is hunky-dory, call “1MDB's engagement with its US dollar-denominated bondholders is a good move”.
Worse, the MoF is clearly taking a cavalier attitude to the entire financial fiasco by claiming that MoF does “not want to interfere with this because it is between two corporate entities to go and sort out their problems”.
This must be one of the most irresponsible statement by the newly appointed Deputy Finance Minister who replaced the previous bumbling Datuk Ahmad Maslan.
The above bonds were guaranteed by International Petroleum Investment Corporation (IPIC). However, did he overlook the fact that the MoF has provided an indemnity to IPIC for losses and damages suffered by the latter?
If it was merely a “dispute” between “two corporate entities”, then why did MoF agree to provide the indemnity to IPIC in the binding term sheet signed between IPIC and 1MDB in May last year?
Worse, while 1MDB is forced to “engage” with bondholders to “restore market confidence”and “prevent panic”, what about ordinary Malaysian tax-payers who are now liable for a multi-billion dollar bailout of the debt-ridden 1MDB?
Doesn’t Datuk Johari see it necessary to “restore the confidence of” and “prevent panic” by Malaysians?
1MDB has already defaulted on the first US$1.75 billion bond. It will soon default on the second US$1.75 billion bond. 1MDB has at the same time cross-defaulted on another RM7.4 billion of Islamic bonds and possibly a further RM800 million loan from SOCSO. That means that Malaysians are liable to for US$3.5 billion and RM8.2 billion, or a whopping total of approximately RM22.2 billion of 1MDB’s mess.
The above has yet to take into consideration another US$3 billion bond which may be affected at some time in the near future.
Instead of pretending that everything is A-OK, Datuk Johari must explain to Malaysians if we have to foot the bill.
He has earlier promised the Parliament in December last year that the 1Malaysia Development Berhad (1MDB) will resolve “its debt and cash flow issue more quickly without help from the Government.”Is this assurance still valid?
Both the Prime Minister, Datuk Seri Najib Razak and 1MDB’s President Arul Kanda have boasted that the rationalisation exercise has been a success and has been completed. Did they both lie to Malaysians to provide a false front for 1MDB?
If the answers to the above questions are above Datuk Johari’s pay-grade, then he must persuade his boss, Datuk Seri Najib Razak, who is also the Finance Minister to explain the imploding 1MDB disaster to Malaysians.
Monday, May 09, 2016
DAP’s commitment to Impian Sabah and Sarawak will continue unabated despite the outcome of the Sarawak state election
The outcome for the Sarawak state election has been a blow to both DAP’s campaign in the urban seats and our outreach to the rural constituencies.
The result has disappointed many, including party volunteers who had worked hard for the election campaign. For the rural seats, some have publicly opined that a couple of our Impian Sarawak projects generated little or no returns in terms of votes.
Our supporters who have contributed generously have also voiced understandable concern over the outcome, especially upon receiving such viral reports and messages.
Yes, it is true that in some polling districts where we have carried out projects, the electoral impact has been tiny or even negligible. But what is also true is that in certain areas, we have received a small but significant increase in support.
Nevertheless, any attempts to measure the impact of Impian projects via short-term changes in electoral support is not only premature, it is well off-the-mark.
Impian Sabah and Sarawak was founded with the specific goal to bridge the rural-urban divide, to offer basic infrastructure, health and education projects as well as services to uplift the quality of lives of the marginalised poor as well as to improve the understanding between the Party and the villagers.
Impian Sabah and Sarawak has been an unqualified success in its short two-and-a-half year history. We have delivered more than 60 projects which included the desperately needed gravity water feed projects, building accessible roads and generating cheap electricity. We have helped thousands of villagers achieve a better quality of life.
However, any expectation of instant transformation in perception and trust among the rural villagers after decades of fear and prejudice conditioned into their minds is unrealistic. If the political mindset change in West Malaysians took decades of sacrifice and effort by our pioneering opposition leaders, why should we expect the same change to take place overnight in rural Sarawak?
The DAP has received an invaluable better understanding of the rural communities – their needs, their limitations and their dreams.
Most importantly, we have made many friends in rural Sabah and Sarawak. Friends whom we did not have before we embarked on the Impian journey. Without friends, and without more of them, our journey for change will never succeed. And without first appreciating the plight of the rural communities, we cannot claim to offer meaningful “change”.
The Sarawak election result is disappointing or even heartbreaking for some who put in sweat and tears. However, it is but a bridge which we must cross to achieve our goals for a better Sarawak, and a better Malaysia. Perseverance and persistence will mark the difference between a lost cause and a realisable dream.
Therefore, we would like to reiterate here that our commitment to Impian Sabah and Sarawak is a long-term cause. Our efforts to bring change at both the quality of life and political landscape for our fellow Malaysians, will continue unabated.
We would also like to take this opportunity to thank all our supporters who have contributed immensely to the success our Impian Sabah and Sarawak projects, and we look forward to your continued support.
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