Tuesday, August 18, 2015

If ‘not a single sen’ of KWAP funds went into Najib’s account, why is the MACC investigating SRC International?

The new Deputy Prime Minister, Dato’ Seri Zahid Hamidi, claimed that not a single sen of the US$700 million transferred to Prime Minister Datuk Seri Najib Razak's accounts came from government pension fund, Retirement Fund Inc (KWAP).

He said the money came from just one Middle Eastern donor, and that they were channelled‎ through multiple companies to avoid detection. "No KWAP money was used by Umno or deposited into Najib's accounts. I saw the documents," ‎said Zahid when officiating the Sri Gading Umno division meeting yesterday.

If Dato’ Seri Zahid is so certain that none of the monies deposited into the Prime Minsiter’s account came from SRC International, which took a RM4 billion loan from KWAP, why didn’t Dato’ Seri Najib Razak sue both The Wall Street Journal and Sarawak Report for defamation?

Both the international financial newspaper and the whistleblower blog highlighted in no uncertain terms that RM42 million of funds originating from SRC International went directly into the Prime Minister, Dato’ Seri Najib Razak’s personal bank account.

The alleged money trail showed that SRC International transferred RM40 million to Gandingan Mentari Sdn Bhd on 14 December 2014.  Ganding Mentari in turn transferred RM40 million to Ihsan Perdana Sdn Bhd on the same day.  Two days later, Ihsan Perdana, in turn transferred via two transactions of RM27 million and RM5 million directly into the Prime Minister’s two different personal accounts in Ambank.

Subsequently, SRC International transferred another RM5 million on 5th and 6th Feb 2015 respectively to Gandingan Mentari, which in turn transferred the same amounts to Ihsan Perdana on the same days.  Ihsan Perdana, in turn transferred the total of RM10 million received directly to the Prime Minister’s personal account in Ambank Bhd four days later on 10th February 2015.

Ihsan Perdana’s role was to carry out Corporate Social Responsibility (CSR) work for 1Malaysia Development Bhd.  How “donating” RM42 million to Dato’ Seri Najib Razak is considered such is anybody’s guess.

However, the fact of the matter is, Dato’ Seri Najib Razak never once over the past 7 weeks denied that he received the above funds alleged by The Wall Street Journal.  Even the Malaysian Anti-Corruption Commission (MACC) was only willing to concede the US$681 million received in the above Prime Minister’s accounts as a “foreign donation”, but insisted that it was still investigating the transactions originating from SRC International.

In fact the alleged charge sheets leaked to the Sarawak Report, as confirmed by BN’s Strategic Communications Director, Dato’ Abdul Rahman Dahlan, clearly showed that Dato’ Seri Najib Razak was to be charged for corruption or criminal breach of trust over the RM42 million received.

What’s more, these monies were received at the end of 2014 and earlier this year, well after the 2013 General Election.  The Prime Minister cannot possibly claim that these funds were for UMNO’s election expenses!

And even if they were alleged “political funding” for UMNO, it would certainly amount to corruption and criminal breach of trust as the funds originated from government sources.

Therefore, how did the new Deputy Prime Minister come to the conclusion that his superior never received a sen from SRC International, which is funded entirely with the RM4 billion loan from KWAP, guaranteed by the Federal Government?

Is Dato’ Seri Zahid Hamidi now lying not only to Malaysians but even to UMNO members just to help his under-sieged Prime Minister to stay in power, as a reward for promoting him to be the heir to the premiership?

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