Earlier this week, Dato’ Seri Najib Razak announced that the government is looking into introducing laws to curb fake news which is a threat to political stability and public order. The Prime Minister said the move was necessary because the people could be instigated to hate the government or commit something like uprisings due to the influence of fake news.
However, it could not have been more ironical that the biggest purveyor of fake news today is none other than the Prime Minister himself.
Yesterday, Dato’ Seri Najib defended the 1Malaysia Development Bhd’s (1MDB) RM42 billion debt, saying the money never disappeared, unlike the RM31 billion losses incurred in Bank Negara’s (BNM) foreign exchange scandal.
However, in the BNM scandal, no one was accused of pocketing the money.
However, in the case of 1MDB, the whereabouts of the RM42 billion, or a substantial portion of it is unknown and/or unverified. In fact, if indeed Dato’ Seri Najib Razak was telling the truth, the question must be asked, why did the Cabinet classify the Auditor-General’s Report on 1MDB under the Official Secrets Act?
Or can Dato’ Seri Najib tell us where US$940 million worth of “units” is currently parked after the original custodial bank, BSI Bank was shut down?
If all monies are indeed properly accounted for in 1MDB, why is it that 1MDB has failed to produce a single audited financial statements since March 2014? In fact, it was the missing funds highlighted by none other than the United States Department of Justice (US DOJ) which led Deloitte Malaysia to withdraw their endorsement for 1MDB’s March 2013 and 2014 accounts. This means that 1MDB doesn’t have any properly audited financial statements for the past 6 years!
It could not be further ironical that Dato’ Seri Najib was lying through his teeth about 1MDB’s RM42 billion debt in front of 1,200 Muslim religious and village leaders who were about to depart for their holy pilgramage in Mecca.
Since the US DOJ exposed the money trail originating from 1MDB into the personal bank account of Dato’ Seri Najib, the Prime Minister has refused to confirm or deny the allegations. The US DOJ showed how approximately US$732 million was laundered into his account with Ambank between 2011 and 2014.
The US DOJ further showed how some of these funds have been subsequently used to acquire a US$27.3 million pink diamond pendant for his wife, Datin Seri Rosmah Mansor as well as a US$250 million luxury yacht by Jho Low.
In addition, there was also the sum of US$238 million from 1MDB which found its way to Datin Seri Rosmah’s son, Riza Aziz’s company in the United States, Red Granite Capital.
The above does not yet include billions of dollars of other assets, including private jets, luxury properties all around the world and rare expensive masterpieces, which were in the process of being seized by the United States government. These assets were deemed assets acquired via illegally laundered funds which originated from 1MDB.
Worst of all, all our questions relating to all of the above have been rejected by the Parliament Speaker so that Dato Seri Najib Razak need not be accountable to Malaysians. It cannot be more obvious that the Prime Minister has plenty to hide.
Showing posts with label 1Malaysia Development Berhad. Show all posts
Showing posts with label 1Malaysia Development Berhad. Show all posts
Saturday, February 03, 2018
Friday, November 24, 2017
Ku Nan demonstrates “Malaysia Boleh” spirit by declaring Bandar Malaysia plans ‘approved’ even before master developer selection, to circumvent Cabinet luxury development ban.
Federal Territories Minister Datuk Seri Tengku Adnan Mansor has confirmed yesterday that the 1MDB-linked Bandar Malaysia and TRX would not be affected by the freeze on property approvals for condominiums, serviced apartments, offices and shopping complexes price above RM1 million.
He was responding to a question by PJ Selatan MP, Hee Loy Sian, when he said that the two projects had already received approval ‘in principle’ and could not be stopped from developing.
It is quite clear here that the government’s only principle here is to protect the interests of 1MDB. TRX and Bandar Malaysia are two of 1MDB’s largest assets that need to be developed if the fund wants any chance of staying afloat. They are also two of the biggest slated development projects in KL.
The amazing thing is, the Ministry of Finance has not even declared a winner to the tender for the master developer of Bandar Malaysia. The latest response from the Ministry of Finance last week is that there are 8 companies which have “expressed interest” in developing the massive 486-acres project. DBKL Mayor Tan Sri Mohd Amin had himself told Malaysiakini that they had yet to receive an application from Bandar Malaysia.
If exemptions from the freeze can be given just because of approvals had been given ‘in principle’, what worth is the freeze at all? Does this mean that other ‘planned’ high-end developments, which have yet to submit their planning applications, will also get exemptions?
These exemptions raise two worrying questions about the government’s planned freeze on high-end developments.
Firstly, it would mean that the effectiveness of the supposed ban on high-end project would be severely diluted. Bank Negara’s report showed just how grave the supply and demand imbalance was, projecting 1-in-3 office spaces being vacant in the Klang Valley by 2021, if measures aren’t taken to control it. If this freeze on high-end developments is to be taken seriously at all, the government has to make sure it is fairly enforced across the board.
And secondly, 1MDB gets the special treatment which discriminates against all private businesses.
As per my previous statements on this issue, I reiterate that the purported ‘blanket ban’ against high-end projects with unit values above RM1 million is a hare-brained knee-jerk reaction which is faulty due to the unfair and substantial exemptions granted above. In addition, the policy itself will not only fail to achieve its objectives because it is not properly targeted, it will create greater distortions in the market as well as turn away both domestic and foreign investors.
He was responding to a question by PJ Selatan MP, Hee Loy Sian, when he said that the two projects had already received approval ‘in principle’ and could not be stopped from developing.
It is quite clear here that the government’s only principle here is to protect the interests of 1MDB. TRX and Bandar Malaysia are two of 1MDB’s largest assets that need to be developed if the fund wants any chance of staying afloat. They are also two of the biggest slated development projects in KL.
The amazing thing is, the Ministry of Finance has not even declared a winner to the tender for the master developer of Bandar Malaysia. The latest response from the Ministry of Finance last week is that there are 8 companies which have “expressed interest” in developing the massive 486-acres project. DBKL Mayor Tan Sri Mohd Amin had himself told Malaysiakini that they had yet to receive an application from Bandar Malaysia.
If exemptions from the freeze can be given just because of approvals had been given ‘in principle’, what worth is the freeze at all? Does this mean that other ‘planned’ high-end developments, which have yet to submit their planning applications, will also get exemptions?
These exemptions raise two worrying questions about the government’s planned freeze on high-end developments.
Firstly, it would mean that the effectiveness of the supposed ban on high-end project would be severely diluted. Bank Negara’s report showed just how grave the supply and demand imbalance was, projecting 1-in-3 office spaces being vacant in the Klang Valley by 2021, if measures aren’t taken to control it. If this freeze on high-end developments is to be taken seriously at all, the government has to make sure it is fairly enforced across the board.
And secondly, 1MDB gets the special treatment which discriminates against all private businesses.
As per my previous statements on this issue, I reiterate that the purported ‘blanket ban’ against high-end projects with unit values above RM1 million is a hare-brained knee-jerk reaction which is faulty due to the unfair and substantial exemptions granted above. In addition, the policy itself will not only fail to achieve its objectives because it is not properly targeted, it will create greater distortions in the market as well as turn away both domestic and foreign investors.
Thursday, September 14, 2017
Dato’ Seri Najib Razak offered President Trump our crown jewels worth billions of dollars and got nothing in return
The Prime Minister, Dato’ Seri Najib Razak’s 6-minute meeting in the Oval Office has become the laughing stock for tens, perhaps hundreds of millions of people around the world.
The historic meeting with President Trump should have been a triumph for Dato’ Seri Najib, a testimony that Malaysia has arrived under his leadership to be treated as an equal partner to the United States.
Instead, the video of the meeting which has gone viral around the world showcased a desperate Prime Minister paying tribute to his imperial masters.
Dato’ Seri Najib Razak boasted of a US$10 billion (RM42 billion) deal by Malaysia Airlines to acquire Boeing jetliners and even publicly offered to “persuade” AirAsia to purchase GE engines. That’s like giving not only your daughter’s hand in marriage to the emperor, but trying to offer the cousin’s as well!
As a matter of fact, Malaysians have no idea how the deeply loss-making Malaysia Airlines which needed a RM6 billion bailout from Khazanah in 2014 can afford potential US$10 billion acquisition of aircrafts from Boeing.
The Prime Minister then further offered another “three to four billion dollars” from Malaysians’ Employee Provident Fund (EPF) to “support... infrastructure redevelopment in the United States.”
The icing on the cake was that Khazanah, our sovereign wealth fund, would also invest more money in United States companies, having already invested more than US$400 million to date.
And all we got in return was a “Thank you very much. Appreciate it.” You could almost imagine Trump quietly saying “You can go now” in his head.
Malaysians have never felt more shocked and shamed at the international stage. The Prime Minister offered our crown jewels worth some RM60 billion in a vain attempt to please President Trump’s “Make America Great Again” campaign, and we got absolutely nothing in return.
President Trump didn’t even try to pretend that Malaysia got anything in return – for example, the promise of ‘potential’ investments or increased imports of made-in-Malaysia products or visa-free travel for Malaysians to the United States.
We are outraged at Dato’ Seri Najib Razak pawning our assets “to strengthen the United States economy” for his own personal agenda, when the precious funds could be used to rescue our own floundering economy.
We call upon the Prime Minister to call for a special 2-day Parliamentary sitting upon his return from the United States to discuss and debate his 6-minute debacle with President Trump. Dato’ Seri Najib Razak must justify to the 30 million Malaysians why he behaved like the leader of a vassal state to the US ‘imperialists’ within days after we celebrated 60 years of independence.
Issued by,
Pakatan Harapan 1MDB Action Committee
Tony Pua, DAP MP Petaling Jaya Utara
Sim Tze Tsin, PKR MP Bayan Baru
Dr Dzulkefly Ahmad, Amanah Strategic Director
Dr Rais Hussin, PPBM Strategic Director
The historic meeting with President Trump should have been a triumph for Dato’ Seri Najib, a testimony that Malaysia has arrived under his leadership to be treated as an equal partner to the United States.
Instead, the video of the meeting which has gone viral around the world showcased a desperate Prime Minister paying tribute to his imperial masters.
Dato’ Seri Najib Razak boasted of a US$10 billion (RM42 billion) deal by Malaysia Airlines to acquire Boeing jetliners and even publicly offered to “persuade” AirAsia to purchase GE engines. That’s like giving not only your daughter’s hand in marriage to the emperor, but trying to offer the cousin’s as well!
As a matter of fact, Malaysians have no idea how the deeply loss-making Malaysia Airlines which needed a RM6 billion bailout from Khazanah in 2014 can afford potential US$10 billion acquisition of aircrafts from Boeing.
The Prime Minister then further offered another “three to four billion dollars” from Malaysians’ Employee Provident Fund (EPF) to “support... infrastructure redevelopment in the United States.”
The icing on the cake was that Khazanah, our sovereign wealth fund, would also invest more money in United States companies, having already invested more than US$400 million to date.
And all we got in return was a “Thank you very much. Appreciate it.” You could almost imagine Trump quietly saying “You can go now” in his head.
Malaysians have never felt more shocked and shamed at the international stage. The Prime Minister offered our crown jewels worth some RM60 billion in a vain attempt to please President Trump’s “Make America Great Again” campaign, and we got absolutely nothing in return.
President Trump didn’t even try to pretend that Malaysia got anything in return – for example, the promise of ‘potential’ investments or increased imports of made-in-Malaysia products or visa-free travel for Malaysians to the United States.
We are outraged at Dato’ Seri Najib Razak pawning our assets “to strengthen the United States economy” for his own personal agenda, when the precious funds could be used to rescue our own floundering economy.
We call upon the Prime Minister to call for a special 2-day Parliamentary sitting upon his return from the United States to discuss and debate his 6-minute debacle with President Trump. Dato’ Seri Najib Razak must justify to the 30 million Malaysians why he behaved like the leader of a vassal state to the US ‘imperialists’ within days after we celebrated 60 years of independence.
Issued by,
Pakatan Harapan 1MDB Action Committee
Tony Pua, DAP MP Petaling Jaya Utara
Sim Tze Tsin, PKR MP Bayan Baru
Dr Dzulkefly Ahmad, Amanah Strategic Director
Dr Rais Hussin, PPBM Strategic Director
Wednesday, August 30, 2017
How did 1MDB make the additional US$300 million of debt repayment to the US$350 million paid earlier this month?
We have received the good news that "IPIC has now received the funds required to be paid by Aug 31 to complete the performance by Minister of Finance (Incorporated) Malaysia and 1MDB of the payment obligations that were initially due to be performed by July 31 under the settlement and the consent award and to pay default interest on the delayed payment."
It is good news because the failure of 1MDB to comply with the above scheduled payments would not only have created a diplomatic crisis between Malaysia and Abu Dhabi, it would have had major implications on Malaysia’s credit ratings.
The bad news however, is we have yet to hear any details of how 1MDB has made the combined payment of US$650 million or approximately RM2.8 billion.
While we await for the latest statement from 1MDB, the company’s previous statement only mentioned vaguely that they are the “proceeds of the on-going rationalisation programme”.
There are absolutely no details as to what proceeds from what specific rationalisation programme undertaken by 1MDB.
Initially in April this year, 1MDB said the funds would come from the “monetization of 1MDB-owned investment fund units”. However, ever since the United States Department of Justice have labelled the “fund units” as fraudulent, 1MDB has since conveniently dropped any mention of these units from its subsequent statements.
Despite repeated questions by many parties, including those in the media and financial community, both 1MDB and the Ministry of Finance (MoF) have remained completely opaque as to the source the funds used to repay IPIC. Why are they so adamant in not disclosing 1MDB’s source of funds?
Hence, the US$650 million or RM2.8 billion question now is - are 1MDB and MoF refusing to answer the above questions because MoF has extended the funds, directly or indirectly via some convoluted pretend “rationalisation” schemes to 1MDB to help the latter settle its debt obligations?
Until and unless the MoF provides factual clarity on the above, Malaysians cannot be blamed for assuming that 1MDB had to settle the above debt instalment with a tax-payer bailout.
That will cement today as the worst national day in Malaysia’s 60 years of independence.
It is good news because the failure of 1MDB to comply with the above scheduled payments would not only have created a diplomatic crisis between Malaysia and Abu Dhabi, it would have had major implications on Malaysia’s credit ratings.
The bad news however, is we have yet to hear any details of how 1MDB has made the combined payment of US$650 million or approximately RM2.8 billion.
While we await for the latest statement from 1MDB, the company’s previous statement only mentioned vaguely that they are the “proceeds of the on-going rationalisation programme”.
There are absolutely no details as to what proceeds from what specific rationalisation programme undertaken by 1MDB.
Initially in April this year, 1MDB said the funds would come from the “monetization of 1MDB-owned investment fund units”. However, ever since the United States Department of Justice have labelled the “fund units” as fraudulent, 1MDB has since conveniently dropped any mention of these units from its subsequent statements.
Despite repeated questions by many parties, including those in the media and financial community, both 1MDB and the Ministry of Finance (MoF) have remained completely opaque as to the source the funds used to repay IPIC. Why are they so adamant in not disclosing 1MDB’s source of funds?
Hence, the US$650 million or RM2.8 billion question now is - are 1MDB and MoF refusing to answer the above questions because MoF has extended the funds, directly or indirectly via some convoluted pretend “rationalisation” schemes to 1MDB to help the latter settle its debt obligations?
Until and unless the MoF provides factual clarity on the above, Malaysians cannot be blamed for assuming that 1MDB had to settle the above debt instalment with a tax-payer bailout.
That will cement today as the worst national day in Malaysia’s 60 years of independence.
Saturday, August 19, 2017
Dato’ Seri Najib Razak merupakan Perdana Menteri hipokrit yang bermuka tembok tertebal seluruh dunia
Semalam, Perdana Menteri Dato’ Seri Najib Razak menyindir sikap pembangkang yang mendakwa kerajaan membayar terlalu mahal bagi projek MRT sedangkan pada masa sama ramai pemimpinnya ditangkap dengan skandal kewangan.
"Yang lucunya, baru-baru ini sudah mula terbongkar di negeri-negeri mereka tentang skandal banglo, …harga terowong, pintu gerbang dan lebuhraya yang dibina berlipat ganda lebih tinggi daripada sepatutnya.
"Ke mana hilangnya wang ini? Apakah skandal kewangan mereka ini tujuan untuk membina MRT dengan lebih murah?" tulis beliau.
Dato’ Seri Najib Razak jelas merupakan seorang pemimpin yang paling “shameless” seluruh dunia. Beliau berani membandingkan fitnah terhadap kes pembelian banglo Ketua Menteri Lim Guan Eng dengan skandal peribadi dan keluarga beliau yang berkaitan dengan 1MDB dan SRC International?
Dalam kes rumah Lim Guan Eng, harga yang dibeli adalah selaras dengan pendapatan seorang Ketua Menteri. Itupun Lim Guan Eng telah membuat pinjaman daripada bank untuk membeli rumah pertamanya di Pulau Pinang yang bernilai RM2.8 juta. Tambahan lagi, harga pembelian rumah tersebut adalah menurut harga pasaran untuk kawasan tersebut, dan bukannya dengan “diskaun luarbiasa” seperti tohmahan-tohmahan pimpinan Barisan Nasional.
Tapi yang paling penting sekali, Lim Guan Eng telah secara terbuka dan berkali-kali menafikan fitnah tersebut. Beliau sedia mencabar dakwaan yang dibawa oleh Suruhanjaya Pencegah Rasuah Malaysia dengan bukti-bukti yang kukuh.
Sebaliknya, saya nak tanya adakah pembelian berlian bernilai US$27.3 juta (RM117 juta) selaras oleh Datin Seri Rosmah Mansor selaras dengan pendapatan keluarga seorang Perdana Menteri? Setahu kami, pendapatan seorang Perdana Menteri adalah lebih kurang RM600,000 setahun. Dato' Seri Najib kena memegang jawatan Perdana Menteri selama 200 tahun sebelum mendapat kemampuan untuk membeli berlian tersebut. Rakyat Malaysia ingin tahu, dari mana datangnya wang untuk membeli bukan sahaja berlian RM117 juta tersebut tetapi barang-barang kemas yang bernilai berjuta-juta ringgit?
Apatah lagi, selepas dua bulan berlian RM117 juta didedahkan oeh Jabatan Kehakiman Amerika Syarikat, Dato’ Seri Najib Razak and Datin Seri Rosmah Mansor tidak pernah menafikan dakwaan tersebut.
Adalah jelas bahawa Lim Guan Eng berani kerana benar, manakala pasangan Najib-Rosmah membisu kerana salah.
Perdana Menteri juga membuat sindiran terhadap kontrak pembinaan terowong dan lebuhraya di Pulau Pinang yang kononnya terlampau mahal berbanding dengan MRT di Lembah Klang.
Saya hanya ada satu balasan terhadap tuduhan liar tersebut. Kontrak pembinaan terowong dan lebuhraya di Pulau Pinang ditawarkan bawah pimpinan kerajaan Pakatan melalui tender terbuka. Sebaliknya, kontrak MRT yang bernilai lebih kurang RM30 bilion, ditawarkan kepada pihak Gamuda dengan rundingan terus, tanpa sebarang tender.
Dato’ Seri Najib Razak sekarang sudah begitu terdesak sehingga melontarkan fitnah-fitnah yang tidak berasas. Rakyat Malaysia kini memang malu negara kita yang akan menyambut ulang-tahun ke-60 dipimpin oleh seorang Perdana Menteri munafik yang tidak berintegriti.
"Yang lucunya, baru-baru ini sudah mula terbongkar di negeri-negeri mereka tentang skandal banglo, …harga terowong, pintu gerbang dan lebuhraya yang dibina berlipat ganda lebih tinggi daripada sepatutnya.
"Ke mana hilangnya wang ini? Apakah skandal kewangan mereka ini tujuan untuk membina MRT dengan lebih murah?" tulis beliau.
Dato’ Seri Najib Razak jelas merupakan seorang pemimpin yang paling “shameless” seluruh dunia. Beliau berani membandingkan fitnah terhadap kes pembelian banglo Ketua Menteri Lim Guan Eng dengan skandal peribadi dan keluarga beliau yang berkaitan dengan 1MDB dan SRC International?
Dalam kes rumah Lim Guan Eng, harga yang dibeli adalah selaras dengan pendapatan seorang Ketua Menteri. Itupun Lim Guan Eng telah membuat pinjaman daripada bank untuk membeli rumah pertamanya di Pulau Pinang yang bernilai RM2.8 juta. Tambahan lagi, harga pembelian rumah tersebut adalah menurut harga pasaran untuk kawasan tersebut, dan bukannya dengan “diskaun luarbiasa” seperti tohmahan-tohmahan pimpinan Barisan Nasional.
Tapi yang paling penting sekali, Lim Guan Eng telah secara terbuka dan berkali-kali menafikan fitnah tersebut. Beliau sedia mencabar dakwaan yang dibawa oleh Suruhanjaya Pencegah Rasuah Malaysia dengan bukti-bukti yang kukuh.
Sebaliknya, saya nak tanya adakah pembelian berlian bernilai US$27.3 juta (RM117 juta) selaras oleh Datin Seri Rosmah Mansor selaras dengan pendapatan keluarga seorang Perdana Menteri? Setahu kami, pendapatan seorang Perdana Menteri adalah lebih kurang RM600,000 setahun. Dato' Seri Najib kena memegang jawatan Perdana Menteri selama 200 tahun sebelum mendapat kemampuan untuk membeli berlian tersebut. Rakyat Malaysia ingin tahu, dari mana datangnya wang untuk membeli bukan sahaja berlian RM117 juta tersebut tetapi barang-barang kemas yang bernilai berjuta-juta ringgit?
Apatah lagi, selepas dua bulan berlian RM117 juta didedahkan oeh Jabatan Kehakiman Amerika Syarikat, Dato’ Seri Najib Razak and Datin Seri Rosmah Mansor tidak pernah menafikan dakwaan tersebut.
Adalah jelas bahawa Lim Guan Eng berani kerana benar, manakala pasangan Najib-Rosmah membisu kerana salah.
Perdana Menteri juga membuat sindiran terhadap kontrak pembinaan terowong dan lebuhraya di Pulau Pinang yang kononnya terlampau mahal berbanding dengan MRT di Lembah Klang.
Saya hanya ada satu balasan terhadap tuduhan liar tersebut. Kontrak pembinaan terowong dan lebuhraya di Pulau Pinang ditawarkan bawah pimpinan kerajaan Pakatan melalui tender terbuka. Sebaliknya, kontrak MRT yang bernilai lebih kurang RM30 bilion, ditawarkan kepada pihak Gamuda dengan rundingan terus, tanpa sebarang tender.
Dato’ Seri Najib Razak sekarang sudah begitu terdesak sehingga melontarkan fitnah-fitnah yang tidak berasas. Rakyat Malaysia kini memang malu negara kita yang akan menyambut ulang-tahun ke-60 dipimpin oleh seorang Perdana Menteri munafik yang tidak berintegriti.
Monday, August 14, 2017
UMNO Sec-Gen Tengku Adnan Tengku Mansor should learn that while perception problems are often fixable, facts on the other hand, can’t be faked
UMNO secretary-general Tengku Adnan Tengku Mansor said that Barisan Nasional must counter the perception created by the Opposition on 1Malaysia Development Bhd (1MDB) to win back the state, said.
He claimed the 1MDB issue had been solved, and UMNO now must fix the wrong perception that the Opposition had created.
"The 1MDB issue has been solved. The bad perception was created (by the opposition) to confuse the voters. So, Umno has to step in to clear the confusion," he said after opening the Petaling Jaya Utara UMNO division meeting yesterday morning.
If only UMNO and BN’s problems in Selangor were merely as simple as “perception”. Indeed, if that was the only problem with 1MDB, it would have been extremely easy to fix.
The challenge for UMNO-BN, if Tengku Adnan hasn’t realised by now, isn’t a mere problem of perception. It is the problem that their attempts fake facts have gained no traction, especially in Selangor where the thinking electorate do not fall, hook, line and sinker for BN’s lies.
The people of Selangor, what more in Petaling Jaya Utara, can see with their own eyes not how the Prime Minister, Dato’ Seri Najib Razak and 1MDB is hiding themselves from “sensitive” questions about the RM50 billion monster scandal.
Why else would the Speaker of Parliament reject nearly all questions with regards to 1MDB even as innocuous as seeking to know the current value of 1MDB’s ‘unit’ investments previously held with the now-defunct BSI Bank in Singapore?
Why else would the Prime Minister not answer as to why is it that the Attorney-General, Tan Sri Apandi Ali claimed that the charges laid out in the United States Department of Justice (US DOJ) were “politically motivated”?
It also isn’t a question of perception when 1MDB repeatedly failed to fulfil its obligations to repay its agreed instalment to Abu Dhabi’s International Petroleum Investment Corporation (IPIC) amounting to billions of ringgit.
The people of Selangor are not so dumb as to not be able to see the fact 1MDB has suffered billions of ringgit of losses, as a result of a kleptocratic BN administration which will lead to Malaysians footing the RM42 billion 1MDB bill.
They can read between the lines when the Prime Minister failed to deny or explain the US$732 million which were deposited into his personal bank account in Ambank since the US DOJ exposed that the funds originated from 1MDB. They can also deduce intelligently when his wife, Datin Seri Rosmah Mansor, failed to explain or deny her acquisition of a US$27.3 million 22-carat pink diamond ring/necklace after the latest allegations by the DOJ.
Hence the biggest problem the BN administration faces isn’t a question of perception. The biggest 1MDB problem facing BN is the people are staring at the bare indisputable facts which the BN leaders are only trying to sweep under the carpet.
Most importantly, we are confident that the people of Selangor will support the Pakatan Harapan coalition comprising of Bersatu, Amanah, PKR and DAP and reject all other parties who fail to crusade against the single largest case of robbery and kleptocracy in the history of Malaysia.
He claimed the 1MDB issue had been solved, and UMNO now must fix the wrong perception that the Opposition had created.
"The 1MDB issue has been solved. The bad perception was created (by the opposition) to confuse the voters. So, Umno has to step in to clear the confusion," he said after opening the Petaling Jaya Utara UMNO division meeting yesterday morning.
If only UMNO and BN’s problems in Selangor were merely as simple as “perception”. Indeed, if that was the only problem with 1MDB, it would have been extremely easy to fix.
The challenge for UMNO-BN, if Tengku Adnan hasn’t realised by now, isn’t a mere problem of perception. It is the problem that their attempts fake facts have gained no traction, especially in Selangor where the thinking electorate do not fall, hook, line and sinker for BN’s lies.
The people of Selangor, what more in Petaling Jaya Utara, can see with their own eyes not how the Prime Minister, Dato’ Seri Najib Razak and 1MDB is hiding themselves from “sensitive” questions about the RM50 billion monster scandal.
Why else would the Speaker of Parliament reject nearly all questions with regards to 1MDB even as innocuous as seeking to know the current value of 1MDB’s ‘unit’ investments previously held with the now-defunct BSI Bank in Singapore?
Why else would the Prime Minister not answer as to why is it that the Attorney-General, Tan Sri Apandi Ali claimed that the charges laid out in the United States Department of Justice (US DOJ) were “politically motivated”?
It also isn’t a question of perception when 1MDB repeatedly failed to fulfil its obligations to repay its agreed instalment to Abu Dhabi’s International Petroleum Investment Corporation (IPIC) amounting to billions of ringgit.
The people of Selangor are not so dumb as to not be able to see the fact 1MDB has suffered billions of ringgit of losses, as a result of a kleptocratic BN administration which will lead to Malaysians footing the RM42 billion 1MDB bill.
They can read between the lines when the Prime Minister failed to deny or explain the US$732 million which were deposited into his personal bank account in Ambank since the US DOJ exposed that the funds originated from 1MDB. They can also deduce intelligently when his wife, Datin Seri Rosmah Mansor, failed to explain or deny her acquisition of a US$27.3 million 22-carat pink diamond ring/necklace after the latest allegations by the DOJ.
Hence the biggest problem the BN administration faces isn’t a question of perception. The biggest 1MDB problem facing BN is the people are staring at the bare indisputable facts which the BN leaders are only trying to sweep under the carpet.
Most importantly, we are confident that the people of Selangor will support the Pakatan Harapan coalition comprising of Bersatu, Amanah, PKR and DAP and reject all other parties who fail to crusade against the single largest case of robbery and kleptocracy in the history of Malaysia.
Sunday, August 13, 2017
Arul Kanda’s disastrous record at 1MDB makes him the least qualified to take over the reigns of Khazanah Nasional
Malaysians were shocked to read the report by The Malaysian Insight on Thursday that Arul Kanda is one of the candidates being considered for the post of Managing Director of Khazanah Nasional.
The online portal reported that “a selection panel has been formed to look through the candidates who can take over from Azman (Mokhtar) whose contract expires in two years” and Arul Kanda is one of two outsiders being considered.
After the disastrous and disgraceful record at the debt-ridden 1MDB since his appointment in January 2015, Arul Kanda should be automatically disqualified from even consideration at the country’s sovereign wealth fund.
The latest catastrophe is the failure of 1MDB to fulfil its settlement obligations with Abu Dhabi’s International Petroleum Investment Corporation (IPIC) in a timely matter. Despite claiming since April 24 this year that its repayment to IPIC would be fulfilled via the “monetization” of 1MDB’s investment ‘units’ last known to be held in Singapore, IPIC had to twice extend the deadline for the first instalment payment scheduled on 31 July 2017.
1MDB has since managed to pay the “equivalent” of US$350 million on 11 August and would have up to 31 August to settle the balance of US$300 million. However, even the above partial payment of the first instalment is shrouded in mystery as it is clear that the 1MDB ‘units’ have not been monetized while the source of the 1MDB funds were unclear.
In addition, Arul Kanda has botched the so-called rationalisation with the original attempt to sell 60% of Bandar Malaysia to the Iskandar Waterfront Holdings (IWH) Sdn Bhd-led consortium. Despite 1MDB having collected 10% of the sale amounting to RM741 million as “deposit”, the Ministry of Finance (MoF) had to terminate the contract due to IWH’s repeated failure to fulfil its obligations, it was MoF which had to refund the RM741 million “deposit” to the purchaser.
However, the worst deed of Arul Kanda has been to repeatedly lie to the Auditor-General, the Public Accounts Committee and Malaysians in general, to cover up the 1MDB scandal to ensure that those behind the multi-billion dollar misappropriation in the company would be let off scotfree.
For example, Arul Kanda is fully aware that 1MDB’s investment ‘units’ previously held at the now defunct BSI Bank, Singapore are fraudulent and more importantly are worth at best a tiny fraction of their purported US$2.318 billion in valuation. The fraud has been uncovered by the United States Department of Justice, as reported in the additional civil suit filed in June this year.
However, despite having access to all the material documents and information, Arul Kanda has continued the pretence that 1MDB had already redeemed some US$1.3 billion worth of the ‘units’. At one point Arul Kanda even told the 1MDB Directors that he has “seen the bank statements” that 1MDB had already received the proceeds in ‘cash’.
Today we know that the entire redemption exercise was a Ponzi-like round-tripping exercise using part of the proceeds from a Deutsche Bank loan to pretend that it’s the receipt from the ‘units’ redemption exercise.
Malaysians can only shiver in trepidation at the thought that a RM145 billion-Khazanah Nasional, which is relatively healthy today, would be helmed by the same person who hammered the final nail in 1MDB’s coffin.
The only thing more shocking I heard when I started sniffing around with regards to The Malaysian Insight report is the fact that Arul Kanda is also awaiting possible appointment as a Senator which comes with a Ministerial position. If that were true, then it would be proof that the Prime Minister, Dato’ Seri Najib Razak would only appoint those without a shred of honesty and integrity to the Cabinet.
The online portal reported that “a selection panel has been formed to look through the candidates who can take over from Azman (Mokhtar) whose contract expires in two years” and Arul Kanda is one of two outsiders being considered.
After the disastrous and disgraceful record at the debt-ridden 1MDB since his appointment in January 2015, Arul Kanda should be automatically disqualified from even consideration at the country’s sovereign wealth fund.
The latest catastrophe is the failure of 1MDB to fulfil its settlement obligations with Abu Dhabi’s International Petroleum Investment Corporation (IPIC) in a timely matter. Despite claiming since April 24 this year that its repayment to IPIC would be fulfilled via the “monetization” of 1MDB’s investment ‘units’ last known to be held in Singapore, IPIC had to twice extend the deadline for the first instalment payment scheduled on 31 July 2017.
1MDB has since managed to pay the “equivalent” of US$350 million on 11 August and would have up to 31 August to settle the balance of US$300 million. However, even the above partial payment of the first instalment is shrouded in mystery as it is clear that the 1MDB ‘units’ have not been monetized while the source of the 1MDB funds were unclear.
In addition, Arul Kanda has botched the so-called rationalisation with the original attempt to sell 60% of Bandar Malaysia to the Iskandar Waterfront Holdings (IWH) Sdn Bhd-led consortium. Despite 1MDB having collected 10% of the sale amounting to RM741 million as “deposit”, the Ministry of Finance (MoF) had to terminate the contract due to IWH’s repeated failure to fulfil its obligations, it was MoF which had to refund the RM741 million “deposit” to the purchaser.
However, the worst deed of Arul Kanda has been to repeatedly lie to the Auditor-General, the Public Accounts Committee and Malaysians in general, to cover up the 1MDB scandal to ensure that those behind the multi-billion dollar misappropriation in the company would be let off scotfree.
For example, Arul Kanda is fully aware that 1MDB’s investment ‘units’ previously held at the now defunct BSI Bank, Singapore are fraudulent and more importantly are worth at best a tiny fraction of their purported US$2.318 billion in valuation. The fraud has been uncovered by the United States Department of Justice, as reported in the additional civil suit filed in June this year.
However, despite having access to all the material documents and information, Arul Kanda has continued the pretence that 1MDB had already redeemed some US$1.3 billion worth of the ‘units’. At one point Arul Kanda even told the 1MDB Directors that he has “seen the bank statements” that 1MDB had already received the proceeds in ‘cash’.
Today we know that the entire redemption exercise was a Ponzi-like round-tripping exercise using part of the proceeds from a Deutsche Bank loan to pretend that it’s the receipt from the ‘units’ redemption exercise.
Malaysians can only shiver in trepidation at the thought that a RM145 billion-Khazanah Nasional, which is relatively healthy today, would be helmed by the same person who hammered the final nail in 1MDB’s coffin.
The only thing more shocking I heard when I started sniffing around with regards to The Malaysian Insight report is the fact that Arul Kanda is also awaiting possible appointment as a Senator which comes with a Ministerial position. If that were true, then it would be proof that the Prime Minister, Dato’ Seri Najib Razak would only appoint those without a shred of honesty and integrity to the Cabinet.
Saturday, August 12, 2017
How did 1MDB make its “equivalent” of US$350 million payment to IPIC?
1MDB proudly announced that it has successfully made partial payment for the outstanding sum to Abu Dhabi’s IPIC, after twice having the deadline extended.
The beleagured company said “1MDB is pleased to announce that pursuant to the amendment dated August 8, 2017, to the settlement deed with Minister of Finance (Incorporated) Malaysia and IPIC, 1MDB has now remitted to date, the equivalent of US$350 million to IPIC.”
When reading any statements from 1MDB, it is always like trying to solve an Agatha Christie murder mystery. You need to scrutinise the statement for curious or incriminating clues.
For example, in this case, why did 1MDB say “the equivalent of US$350 million” as opposed to just a straightforward “US$350 million”, or whatever the amount is?
Normally, one would perhaps phrase “the equivalent of US$350 million” if the payment was not remitted in US Dollars but perhaps in this case in Ringgit Malaysia? This clearly lends credence to the allegations that no Bank wants to process payments relating to 1MDB transactions for fear of partaking in a money laundering exercise, especially since US Dollar transactions would require re-routing via US Banks.
The Malaysian Insight had earlier also reported that the remittance was carried out via Maybank Bhd. Does this mean that 1MDB circumvented its US Dollar remittance “technical problem” with Bank Negara granting approval for the remittance to be issued from Malaysia in Ringgit (or any other non-US Dollar currency)?
This mystery further begs the question – how did 1MDB get its money in Malaysia? By all public pronouncements from 1MDB and by Ministers in Parliament, 1MDB certainly doesn’t have “the equivalent of US$350 million” or nearly RM1.5 billion in cash sitting around in its local bank accounts.
That’s when you refer back to 1MDB’s 24 April 2017 IPIC settlement announcement for more clues. Then, 1MDB explicitly stated that the company’s “obligations will be met by 1MDB, primarily via monetization of 1MDB-owned investment fund units”.
The last we know, these investment fund ‘units’ were held in the now-defunct BSI Bank, Singapore. The last known value on the balance of these ‘units’ was US$940 million.
Hence, one would certainly like to ask 1MDB, if the source of the “equivalent of US$350 million” came of the sale of these ‘units’ overseas? If that were so, wouldn’t the investment disposal proceeds not be in US Dollars?
That’s when you go back to 1MDB’s latest statement, hoping for an easy answer. However, like any good 1MDB statement, you will never get an honest and straightforward answer.
1MDB disclosed that “all funds paid to IPIC are from proceeds of the on-going rationalisation programme”. This time, it’s just as important to make inference from what is not stated, beyond what is actually stated.
Notice how in the current statement, 1MDB no longer makes any reference to the “monetization of the 1MDB-owned investment fund units”, which was previously included in all of 1MDB’s past responses on the issue, including two separate Finance Minister’s replies to me in Parliament.
If 1MDB’s “equivalent of US$350 million” payment to IPIC was not the proceeds from the ‘units’ sale, then where did the money come from? 1MDB has after all, sold or transferred all of its assets – both energy and real estate, and have already used such proceeds to pare down their humongous debt and interest payments.
Hence, the US$350 million question now is, did this money come from the Ministry of Finance, directly or indirectly via some convoluted “rationalisation” schemes? 1MDB and Dato’ Seri Najib Razak must come clean on the matter, especially since 1MDB has another US$300 million and US$603 million to pay by 31 August and 31 December respectively.
The beleagured company said “1MDB is pleased to announce that pursuant to the amendment dated August 8, 2017, to the settlement deed with Minister of Finance (Incorporated) Malaysia and IPIC, 1MDB has now remitted to date, the equivalent of US$350 million to IPIC.”
When reading any statements from 1MDB, it is always like trying to solve an Agatha Christie murder mystery. You need to scrutinise the statement for curious or incriminating clues.
For example, in this case, why did 1MDB say “the equivalent of US$350 million” as opposed to just a straightforward “US$350 million”, or whatever the amount is?
Normally, one would perhaps phrase “the equivalent of US$350 million” if the payment was not remitted in US Dollars but perhaps in this case in Ringgit Malaysia? This clearly lends credence to the allegations that no Bank wants to process payments relating to 1MDB transactions for fear of partaking in a money laundering exercise, especially since US Dollar transactions would require re-routing via US Banks.
The Malaysian Insight had earlier also reported that the remittance was carried out via Maybank Bhd. Does this mean that 1MDB circumvented its US Dollar remittance “technical problem” with Bank Negara granting approval for the remittance to be issued from Malaysia in Ringgit (or any other non-US Dollar currency)?
This mystery further begs the question – how did 1MDB get its money in Malaysia? By all public pronouncements from 1MDB and by Ministers in Parliament, 1MDB certainly doesn’t have “the equivalent of US$350 million” or nearly RM1.5 billion in cash sitting around in its local bank accounts.
That’s when you refer back to 1MDB’s 24 April 2017 IPIC settlement announcement for more clues. Then, 1MDB explicitly stated that the company’s “obligations will be met by 1MDB, primarily via monetization of 1MDB-owned investment fund units”.
The last we know, these investment fund ‘units’ were held in the now-defunct BSI Bank, Singapore. The last known value on the balance of these ‘units’ was US$940 million.
Hence, one would certainly like to ask 1MDB, if the source of the “equivalent of US$350 million” came of the sale of these ‘units’ overseas? If that were so, wouldn’t the investment disposal proceeds not be in US Dollars?
That’s when you go back to 1MDB’s latest statement, hoping for an easy answer. However, like any good 1MDB statement, you will never get an honest and straightforward answer.
1MDB disclosed that “all funds paid to IPIC are from proceeds of the on-going rationalisation programme”. This time, it’s just as important to make inference from what is not stated, beyond what is actually stated.
Notice how in the current statement, 1MDB no longer makes any reference to the “monetization of the 1MDB-owned investment fund units”, which was previously included in all of 1MDB’s past responses on the issue, including two separate Finance Minister’s replies to me in Parliament.
If 1MDB’s “equivalent of US$350 million” payment to IPIC was not the proceeds from the ‘units’ sale, then where did the money come from? 1MDB has after all, sold or transferred all of its assets – both energy and real estate, and have already used such proceeds to pare down their humongous debt and interest payments.
Hence, the US$350 million question now is, did this money come from the Ministry of Finance, directly or indirectly via some convoluted “rationalisation” schemes? 1MDB and Dato’ Seri Najib Razak must come clean on the matter, especially since 1MDB has another US$300 million and US$603 million to pay by 31 August and 31 December respectively.
Wednesday, August 09, 2017
Finance Minister II Dato’ Seri Johari Abdul Ghani should not bluff Malaysians by stating that the Government “has never given public funds to 1MDB to settle its debts”
According to Bernama yesterday, Second Finance Minister, Dato’ Seri Johari Abdul Ghani said that “the Finance Ministry (MoF) has never given any public funds to 1Malaysia Development Bhd (1MDB) to help settle its debt”.
The Minister must think that Malaysians are complete and utter idiots to be served what is one of biggest piece of cow dung amongst all the attempts to cover up the 1MDB scandal.
The Ministry of Finance has on so many occasions come to the rescue of 1MDB over the past 2 years involving billions of ringgit of tax-payers’ monies, and yet Dato’ Seri Johari has the cheek to tell us that the MoF “has never given any public funds to 1MDB”.
Among the most clear-cut examples are the RM800 million loan from SOCSO and another RM2.4 billion Bandar Malaysia sukuk bond which the MoF have assumed as a result of taking over TRX City Sdn Bhd and Bandar Malaysia Sdn Bhd.
The Auditor-General has reported that nearly all of the above proceeds of the 1MDB borrowings were never used for the development of the 2 property projects above. Hence when MoF agreed to take over the property projects and assumed the liabilities, MoF has effectively “settled” 1MDB’s RM3.2 billion debt problem.
What’s more, when 1MDB had originally sold a 60% stake in Bandar Malaysia to an Iskandar Waterfront Holdings (IWH) Sdn Bhd-led consortium, they had collected, and presumably spent the RM741 million deposit which has been paid upon the signing of the sale and purchase agreement in December 2015.
However, when MoF terminated the sale due to IWH payment defaults, it was MoF who coughed up the RM741 million to refund the deposit paid by the consortium. If the deposit, should have been refunded at all, it should have been by 1MDB, and not by the Malaysian tax-payers.
The above doesn’t yet include MoF subsidiary or subsidiaries which actually acquired properties from 1MDB in TRX at inflated prices. The irony is, it was MoF who sold the land to 1MDB in the first place at dirt cheap prices.
We understand the conundrum Dato’ Seri Johari Abdul Ghani is facing as the 2nd Finance Minister who has fallen out of favour and having to defend the indefensible regain the Prime Minister’s favour. It is now clear that he has been dropped by Dato’ Seri Najib Razak from handling the 1MDB imbroglio, particularly in the company’s multi-billion dollar dispute with Abu Dhabi’s IPIC.
However, the Second Finance Minister should not go to the extent to telling outright lies to pull the wool over the people’s eyes. Dato’ Seri Johari should not forget his role and responsibility to the people of Malaysia by sacrificing his own integrity and honour.
The Minister must think that Malaysians are complete and utter idiots to be served what is one of biggest piece of cow dung amongst all the attempts to cover up the 1MDB scandal.
The Ministry of Finance has on so many occasions come to the rescue of 1MDB over the past 2 years involving billions of ringgit of tax-payers’ monies, and yet Dato’ Seri Johari has the cheek to tell us that the MoF “has never given any public funds to 1MDB”.
Among the most clear-cut examples are the RM800 million loan from SOCSO and another RM2.4 billion Bandar Malaysia sukuk bond which the MoF have assumed as a result of taking over TRX City Sdn Bhd and Bandar Malaysia Sdn Bhd.
The Auditor-General has reported that nearly all of the above proceeds of the 1MDB borrowings were never used for the development of the 2 property projects above. Hence when MoF agreed to take over the property projects and assumed the liabilities, MoF has effectively “settled” 1MDB’s RM3.2 billion debt problem.
What’s more, when 1MDB had originally sold a 60% stake in Bandar Malaysia to an Iskandar Waterfront Holdings (IWH) Sdn Bhd-led consortium, they had collected, and presumably spent the RM741 million deposit which has been paid upon the signing of the sale and purchase agreement in December 2015.
However, when MoF terminated the sale due to IWH payment defaults, it was MoF who coughed up the RM741 million to refund the deposit paid by the consortium. If the deposit, should have been refunded at all, it should have been by 1MDB, and not by the Malaysian tax-payers.
The above doesn’t yet include MoF subsidiary or subsidiaries which actually acquired properties from 1MDB in TRX at inflated prices. The irony is, it was MoF who sold the land to 1MDB in the first place at dirt cheap prices.
We understand the conundrum Dato’ Seri Johari Abdul Ghani is facing as the 2nd Finance Minister who has fallen out of favour and having to defend the indefensible regain the Prime Minister’s favour. It is now clear that he has been dropped by Dato’ Seri Najib Razak from handling the 1MDB imbroglio, particularly in the company’s multi-billion dollar dispute with Abu Dhabi’s IPIC.
However, the Second Finance Minister should not go to the extent to telling outright lies to pull the wool over the people’s eyes. Dato’ Seri Johari should not forget his role and responsibility to the people of Malaysia by sacrificing his own integrity and honour.
Friday, June 23, 2017
Rahman Dahlan disparages US DOJ's US$1.7 bil. asset seizure suit; doesn't deny Mr. & Mrs. MO1 received US$732 mil. cash and US$27.3 mil. pink diamond pendant
Minister in the Prime Minister’s Department, Dato’ Seri Abdul Rahman Dahlan continued his tirade against the US DOJ again yesterday, accusing the DOJ of publishing a “half-cooked report”.
He even insinuated that the United States of attempting to influence the results of the impending Malaysian election. "Is it because the election is around the corner and some desperate quarters need a leg-up?" he tweeted.
This is on top of the Minister in charge of the Economic Planning Unit berating the US DOJ the previous day, “you (DOJ) mock, you gave the impression that Rosmah and the diamond did something wrong. But in the document you submitted, you didn't include the diamond as one of the items that you want to seize. It was unnecessary to put the name there.”
The Minister is saying that since elections is around the corner, the US DOJ should not have filed the updated suit last week as it might influence the results of the election, since it implicates both the Prime Minister and his wife of misappropriating state funds for their own personal benefit?
Is the Minister trying to tell the US that they should have waited until the election is over and the Najib administration has won a new mandate, before publishing such scandalous allegations against those who have misappropriated more than US$5.6 billion of funds from 1MDB?
Does the Minister realise how ridiculous he sounds? Is he really that half-witted, or is he only pretending to be so?
In responding to Dato’ Seri Abdul Rahman Dahlan’s criticism, the US DOJ said that they “have to allege enough facts to show a reasonable belief that United States money laundering and other criminal laws were violated and that the subject assets were involved in or traceable to these illegal transactions.”
Surely Dato’ Seri Rahman Dahlan would know that the way to fight a factual allegation is to provide factual evidence which destroys the allegations. The daily repetitive attempts by the Minister and his colleagues to taint the US investigations with insinuations of political and other motives not only does not help the cause of the Prime Minister and his wife, they actually worsen the negative perception because the alleged facts have not been challenged.
Malaysians are asking, if the US DOJ is indeed concocting malicious allegations against the Prime Minsiter and his wife as the Cabinet Ministers continue to insist, why haven’t the allegations been denied?
In fact, why hasn't Dato’ Seri Najib Razak produced proof that this bank account(s) never received the purported US$732 million which had originated from 1MDB? Why hasn't Datin Seri Rosmah Mansor come out to publicly deny that she had indeed acquired, or received as a gift, the alleged US$27.3 million pink diamond pendant?
Their silence speaks a thousand words, while the aimless barking by the Prime Minister’s lieutanants only served to confirm without a doubt in the minds of the people, the truth of the US DOJ scandalous allegations.
Perhaps in his eagerness to castigate the US DOJ, Dato’ Seri Rahman Dahlan has merely forgotten to establish the facts.
Let me challenge Dato’ Seri Rahman Dahlan once again, did or did not the Prime Minister, referred to as MO1 in the US DOJ suit, receive more than US$732 million in his personal bank account in Malaysia while his wife, Mrs MO1 acquired a US$27.3 million diamond pendant after trips to Monaco and New York in 2013?
If the EPU Minister can’t answer the above questions, then he should stop making a complete fool of himself and further destroy whatever is left of the good name of Malaysia to a watching international audience.
He even insinuated that the United States of attempting to influence the results of the impending Malaysian election. "Is it because the election is around the corner and some desperate quarters need a leg-up?" he tweeted.
This is on top of the Minister in charge of the Economic Planning Unit berating the US DOJ the previous day, “you (DOJ) mock, you gave the impression that Rosmah and the diamond did something wrong. But in the document you submitted, you didn't include the diamond as one of the items that you want to seize. It was unnecessary to put the name there.”
The Minister is saying that since elections is around the corner, the US DOJ should not have filed the updated suit last week as it might influence the results of the election, since it implicates both the Prime Minister and his wife of misappropriating state funds for their own personal benefit?
Is the Minister trying to tell the US that they should have waited until the election is over and the Najib administration has won a new mandate, before publishing such scandalous allegations against those who have misappropriated more than US$5.6 billion of funds from 1MDB?
Does the Minister realise how ridiculous he sounds? Is he really that half-witted, or is he only pretending to be so?
In responding to Dato’ Seri Abdul Rahman Dahlan’s criticism, the US DOJ said that they “have to allege enough facts to show a reasonable belief that United States money laundering and other criminal laws were violated and that the subject assets were involved in or traceable to these illegal transactions.”
Surely Dato’ Seri Rahman Dahlan would know that the way to fight a factual allegation is to provide factual evidence which destroys the allegations. The daily repetitive attempts by the Minister and his colleagues to taint the US investigations with insinuations of political and other motives not only does not help the cause of the Prime Minister and his wife, they actually worsen the negative perception because the alleged facts have not been challenged.
Malaysians are asking, if the US DOJ is indeed concocting malicious allegations against the Prime Minsiter and his wife as the Cabinet Ministers continue to insist, why haven’t the allegations been denied?
In fact, why hasn't Dato’ Seri Najib Razak produced proof that this bank account(s) never received the purported US$732 million which had originated from 1MDB? Why hasn't Datin Seri Rosmah Mansor come out to publicly deny that she had indeed acquired, or received as a gift, the alleged US$27.3 million pink diamond pendant?
Their silence speaks a thousand words, while the aimless barking by the Prime Minister’s lieutanants only served to confirm without a doubt in the minds of the people, the truth of the US DOJ scandalous allegations.
Perhaps in his eagerness to castigate the US DOJ, Dato’ Seri Rahman Dahlan has merely forgotten to establish the facts.
Let me challenge Dato’ Seri Rahman Dahlan once again, did or did not the Prime Minister, referred to as MO1 in the US DOJ suit, receive more than US$732 million in his personal bank account in Malaysia while his wife, Mrs MO1 acquired a US$27.3 million diamond pendant after trips to Monaco and New York in 2013?
If the EPU Minister can’t answer the above questions, then he should stop making a complete fool of himself and further destroy whatever is left of the good name of Malaysia to a watching international audience.
Wednesday, June 21, 2017
Why is Rahman Dahlan not outraged by the allegation that US$27.3 mil. of 1MDB funds helped buy a 22-carat pink diamond pendant necklace for Datin Seri Rosmah Mansor?
Malaysians are amused by the sardonic entertainment the Barisan Nasional (BN) Ministers are putting up for us on a daily basis in response to the recently updated US DOJ suit to seize an additional US$540 million worth of assets laundered with funds from 1MDB. This sum is on to of nearly US$1.2 billion in the suits filed since July last year.
At the heart of the scandal is the involvement of a “Malaysian Official 1” (MO1) who received more than US$732 million of the laundered funds in his personal bank account in Malaysia. What further stunned the nation was when “MO1’s wife” was mentioned in the updated kleptocracy suit, when DOJ alleged that she spent US$27.3 million on a 22-carat pink diamond pendant necklace with that money.
Dato’ Seri Hishamuddin Hussein would put up a blank face feigning ignorance and asked “for all we know it could be anyone. ‘MO1’ could be (Second Finance Minister) Johari (Abdul) Ghani.”
This of course runs contrary to Economic Planning Unit (EPU) Minister, Dato’ Seri Abdul Rahman Dahlan’s public admission on BBC in September 2016 that “obviously, if you read the documents, it is the prime minister…”
This confirmation is on top of the Minister’s earlier contemptuous remark made in August 2016 that “only an idiot doesn’t know who MO1 is”.
The question as to whether Dato’ Seri Rahman Dahlan would tell Dato’ Seri Hishamuddin Hussein that the latter is “an idiot” is perhaps best left for the former to answer. What is perhaps comically incongruent is how two senior Ministers in the Prime Minister’s office held 2 contradictory positions over the simple poser.
They were both however consistent in ignoring the elephant(s) in the room pointed out by the DOJ – that MO1 received more than US$732 million in his personal bank account while Mrs MO1 got her US$27.3 million necklace with money borrowed by the Government’s wholly-owned subsidiary.
Yesterday again, the EPU Minister, who is also BN Strategic Communications Director, confirmed that MO1 is Dato’ Seri Najib Razak, and MO1’s wife would be Datin Seri Rosmah Mansor.
However, Dato’ Seri Rahman Dahlan took pains to lament that “you (DOJ) mock, you gave the impression that Rosmah and the diamond did something wrong. But in the document you submitted, you didn't include the diamond as one of the items that you want to seize. It was unnecessary to put the name there."
The Minister clearly and intentionally missed the woods for the trees. Instead of asking why “implicate” Datin Seri Rosmah Mansor, should the Minister, whose primary responsibility is not to protect the Prime Minister’s wife but the interest of the Rakyat, confirm if the US$27.3 million diamond necklace was indeed purchased with money laundered from 1MDB?
It is worth noting that the EPU Minister did not deny these facts. He is merely making a hue and cry of the exposure of these “facts”.
Before Dato’ Seri Rahman Dahlan decides to speak to the press again regarding this issue, let me challenge him to confirm these simple facts exposed by the DOJ with Mrs MO1:
1. On or about July 5, 2013, Datin Seri Rosmah Mansor met New York jeweller, Lorraine Schwartz together with Low Taek Jho and others aboard the 147 meter Topaz, one of the largest private yachts in the world in Monaco. There group discussed the design of the necklace to hold the 22-carat pink diamond, which itself would be made of smaller diamonds.
2. On or about September 28, 2013, Datin Seri Rosmah Mansor again met Schwartz with Low in a hotel suite in the Mandarin Time Warner in New York in order to show them the layout of the necklace that Schwartz had designed.
3. The finished 22-carat pink diamond necklace, which included the 22-carat pink diamond as a pendant, was delivered to a friend of Datin Seri Rosmah Mansor in Hong Kong on or about March 7, 2014, for delivery to the wife of the Prime Minister in Kuala Lumpur.
If Dato’ Seri Rahman Dahlan can provide evidence, on behalf of Mrs MO1 that the above allegations are brazenly untrue, then let me assure the Minister and everyone else in the Cabinet that I will be the first from the opposition bench to sit with him in a press conference to publicly denounce the DOJ allegations.
If not, then let me remind Dato’ Seri Rahman Dahlan, that as a responsible Minister and citizen, he must report the above transgression to both the Police and the Malaysian Anti-Corruption Commission (MACC) for their respective investigations.
At the heart of the scandal is the involvement of a “Malaysian Official 1” (MO1) who received more than US$732 million of the laundered funds in his personal bank account in Malaysia. What further stunned the nation was when “MO1’s wife” was mentioned in the updated kleptocracy suit, when DOJ alleged that she spent US$27.3 million on a 22-carat pink diamond pendant necklace with that money.
Dato’ Seri Hishamuddin Hussein would put up a blank face feigning ignorance and asked “for all we know it could be anyone. ‘MO1’ could be (Second Finance Minister) Johari (Abdul) Ghani.”
This of course runs contrary to Economic Planning Unit (EPU) Minister, Dato’ Seri Abdul Rahman Dahlan’s public admission on BBC in September 2016 that “obviously, if you read the documents, it is the prime minister…”
This confirmation is on top of the Minister’s earlier contemptuous remark made in August 2016 that “only an idiot doesn’t know who MO1 is”.
The question as to whether Dato’ Seri Rahman Dahlan would tell Dato’ Seri Hishamuddin Hussein that the latter is “an idiot” is perhaps best left for the former to answer. What is perhaps comically incongruent is how two senior Ministers in the Prime Minister’s office held 2 contradictory positions over the simple poser.
They were both however consistent in ignoring the elephant(s) in the room pointed out by the DOJ – that MO1 received more than US$732 million in his personal bank account while Mrs MO1 got her US$27.3 million necklace with money borrowed by the Government’s wholly-owned subsidiary.
Yesterday again, the EPU Minister, who is also BN Strategic Communications Director, confirmed that MO1 is Dato’ Seri Najib Razak, and MO1’s wife would be Datin Seri Rosmah Mansor.
However, Dato’ Seri Rahman Dahlan took pains to lament that “you (DOJ) mock, you gave the impression that Rosmah and the diamond did something wrong. But in the document you submitted, you didn't include the diamond as one of the items that you want to seize. It was unnecessary to put the name there."
The Minister clearly and intentionally missed the woods for the trees. Instead of asking why “implicate” Datin Seri Rosmah Mansor, should the Minister, whose primary responsibility is not to protect the Prime Minister’s wife but the interest of the Rakyat, confirm if the US$27.3 million diamond necklace was indeed purchased with money laundered from 1MDB?
It is worth noting that the EPU Minister did not deny these facts. He is merely making a hue and cry of the exposure of these “facts”.
Before Dato’ Seri Rahman Dahlan decides to speak to the press again regarding this issue, let me challenge him to confirm these simple facts exposed by the DOJ with Mrs MO1:
1. On or about July 5, 2013, Datin Seri Rosmah Mansor met New York jeweller, Lorraine Schwartz together with Low Taek Jho and others aboard the 147 meter Topaz, one of the largest private yachts in the world in Monaco. There group discussed the design of the necklace to hold the 22-carat pink diamond, which itself would be made of smaller diamonds.
2. On or about September 28, 2013, Datin Seri Rosmah Mansor again met Schwartz with Low in a hotel suite in the Mandarin Time Warner in New York in order to show them the layout of the necklace that Schwartz had designed.
3. The finished 22-carat pink diamond necklace, which included the 22-carat pink diamond as a pendant, was delivered to a friend of Datin Seri Rosmah Mansor in Hong Kong on or about March 7, 2014, for delivery to the wife of the Prime Minister in Kuala Lumpur.
If Dato’ Seri Rahman Dahlan can provide evidence, on behalf of Mrs MO1 that the above allegations are brazenly untrue, then let me assure the Minister and everyone else in the Cabinet that I will be the first from the opposition bench to sit with him in a press conference to publicly denounce the DOJ allegations.
If not, then let me remind Dato’ Seri Rahman Dahlan, that as a responsible Minister and citizen, he must report the above transgression to both the Police and the Malaysian Anti-Corruption Commission (MACC) for their respective investigations.
Tuesday, June 20, 2017
All Malaysians should heed the call by the MACC Chief Commissioner to be “brave” and file reports on the corruption, abuse of power and money laundering in 1MDB as exposed by the US DOJ
We wholly support MACC Chief Commissioner, Dato’ Dzulkifli Ahmad’s call for Malaysians to be “brave” to report all cases of corruption to the agency.
"Concerned Malaysians need not fear the MACC. We are friendly, so join us and report corruption and abuse of power. Together we will bring up a society that is brave and will say 'no' to corruption and the corrupt," Dzulkifli told reporters in Kuala Lumpur on 17 June 2017.
He assured that those who want to remain anonymous will have their identities protected and launched the new anti-corruption hotline number 1800-88-6000.
Dato’ Dzulkifli’s call and toll-free number could not have come at a more opportune time.
Malaysians have been outraged and flabbergasted by the latest suit filed two days earlier by the US DOJ under the Kleptocracy Asset Recovery Initiative for multi-billion ringgit worth of assets for funds laundered from 1MDB.
Not only did Malaysians discover that funds exceeding USD5.6 billion have been laundered by 1MDB officials, Jho Low and his associates, we discovered that more than US$200 million or approximately RM880 million have been used to purchase precious designer jewelry for their family and friends.
This included a US$27.3 million 22 carat pink diamond pendant necklace which was acquired by the wife of Malaysian Official 1 (MO1). The Minister in Prime Minister’s office, Dato’ Seri Abdul Rahman Dahlan has publicly stated that MO1 is none other than Dato’ Seri Najib Razak, and anyone who doesn’t know who MO1 is, is an “idiot”.
The DOJ also detailed how 1MDB forged financial statements, falsified audited financial statements, created multiple version of agreements for the very same transactions, colluded with foreign companies, lied to financial officers and authorities and outrageously pledged worthless securities as collateral to secure its US$975 million loan from the Deutsche Bank-led consortium.
The DOJ have included all these evidential details – telephone conversations, email correspondences, financial statements, transaction documents – were clearly painstakingly gathered by the DOJ from all international banking institutions involved with 1MDB as well as other relevant witnesses around the world.
Hence with the wealth of information and evidence contained in the 251-page suit, all Malaysians can now be “brave” and ring the toll-free 1800-88-6000 number to file a complaint against corruption, abuse of power and money laundering by 1MDB as well as against both MO1 and his wife. After all, there is no bigger case of corruption plaguing the country today than the RM42 billion 1MDB scandal.
This will answer the Chief Commissioner's honourable plea for the public to “help [MACC] realise the anti-corruption revolution to ensure that our country is free from corruption and abuse of power within the next three years when we hit the year 2020".
However, the bigger question is, will MACC be equally “brave” as ordinary Malaysians to investigate MO1, his wife, 1MDB officers as well as Jho Low and his associates for their crimes against the nation?
Dato’ Dzulkifli Ahmad shall not be so cowardly as to abdicate from its constitutionally enshrined responsibilities by passing the buck to the Royal Malaysian Police, as he so-declared at the same press conference.
"Concerned Malaysians need not fear the MACC. We are friendly, so join us and report corruption and abuse of power. Together we will bring up a society that is brave and will say 'no' to corruption and the corrupt," Dzulkifli told reporters in Kuala Lumpur on 17 June 2017.
He assured that those who want to remain anonymous will have their identities protected and launched the new anti-corruption hotline number 1800-88-6000.
Dato’ Dzulkifli’s call and toll-free number could not have come at a more opportune time.
Malaysians have been outraged and flabbergasted by the latest suit filed two days earlier by the US DOJ under the Kleptocracy Asset Recovery Initiative for multi-billion ringgit worth of assets for funds laundered from 1MDB.
Not only did Malaysians discover that funds exceeding USD5.6 billion have been laundered by 1MDB officials, Jho Low and his associates, we discovered that more than US$200 million or approximately RM880 million have been used to purchase precious designer jewelry for their family and friends.
This included a US$27.3 million 22 carat pink diamond pendant necklace which was acquired by the wife of Malaysian Official 1 (MO1). The Minister in Prime Minister’s office, Dato’ Seri Abdul Rahman Dahlan has publicly stated that MO1 is none other than Dato’ Seri Najib Razak, and anyone who doesn’t know who MO1 is, is an “idiot”.
The DOJ also detailed how 1MDB forged financial statements, falsified audited financial statements, created multiple version of agreements for the very same transactions, colluded with foreign companies, lied to financial officers and authorities and outrageously pledged worthless securities as collateral to secure its US$975 million loan from the Deutsche Bank-led consortium.
The DOJ have included all these evidential details – telephone conversations, email correspondences, financial statements, transaction documents – were clearly painstakingly gathered by the DOJ from all international banking institutions involved with 1MDB as well as other relevant witnesses around the world.
Hence with the wealth of information and evidence contained in the 251-page suit, all Malaysians can now be “brave” and ring the toll-free 1800-88-6000 number to file a complaint against corruption, abuse of power and money laundering by 1MDB as well as against both MO1 and his wife. After all, there is no bigger case of corruption plaguing the country today than the RM42 billion 1MDB scandal.
This will answer the Chief Commissioner's honourable plea for the public to “help [MACC] realise the anti-corruption revolution to ensure that our country is free from corruption and abuse of power within the next three years when we hit the year 2020".
However, the bigger question is, will MACC be equally “brave” as ordinary Malaysians to investigate MO1, his wife, 1MDB officers as well as Jho Low and his associates for their crimes against the nation?
Dato’ Dzulkifli Ahmad shall not be so cowardly as to abdicate from its constitutionally enshrined responsibilities by passing the buck to the Royal Malaysian Police, as he so-declared at the same press conference.
Sunday, June 18, 2017
Malaysians shamed as Attorney-General Tan Sri Apandi Ali gets schooled by the United States Department of Justice
The updated second asset seizure suit filed by the United States Department of Justice (US DOJ) under the Kleptocracy Asset Recovery Initiative contained even more outrageous exposés on how 1MDB funds have been misappropriated to those who are in power as well as their associates.
Besides some of the juiciest scandalous details befitting tabloid headlines around the world, the DOJ also took pains to elaborate how the funds exceeding USD5.6 billion have been laundered by 1MDB officials, Jho Low and his associates.
The DOJ detailed how 1MDB forged financial statements, falsified audited financial statements, created multiple version of agreements for the very same transactions, colluded with foreign companies, lied to financial officers and authorities and outrageously pledged worthless securities as collateral to secure its US$975 million loan from the Deutsche Bank-led consortium.
All these evidential details – telephone conversations, email correspondences, financial statements, transaction documents – were clearly painstakingly gathered by the DOJ from all international banking institutions involved with 1MDB as well as other relevant witnesses around the world.
And yet, the first and only response from our Attorney-General, Tan Sri Apandi Ali to date has been to rue DOJ’s “insinuations that have been made against the prime minister of criminal wrongdoing”.
You are wrong, Mr Attorney-General. The US DOJ suit did not mention or even highlight any specific wrongdoing by Dato’ Seri Najib Razak. The US DOJ merely detailed how more than US$5 billion from 1MDB, an entity owned by the Malaysian government have been laundered around the world by a Low Taek Jho and his associates.
In the process, the US DOJ merely mentioned that some of the ultimate beneficiaries of the laundering exercise were Dato’ Seri Najib Razak, to the tune of US$732 million and his wife, who received a gift of a pink diamond necklace worth more than US$30 million.
Like Jho’s girlfriend, Miranda Kerr who received multi-million dollar diamond studded jewelry, or “friend”, Leonardo DiCaprio who received multi-million dollar worth of rare movie memorabilia and paintings, they may be oblivious to the fact that the items were purchased with laundered funds.
Perhaps the Prime Minister and his wife are equally innocent and all they need to do is to return the money or surrender the jewelry, just as Leonardo have done. Hence, it is misguided for Tan Sri Apandi Ali to conclude the DOJ case as one against the Prime Minister.
The real question then is for Tan Sri Apandi Ali to investigate the money laundering exercise carried out by mastermind Jho Low and the abetting 1MDB officials. The Attorney-General cannot deny the overwhelming prima facie evidence presented by the DOJ on the above.
In fact, the DOJ even presented how the above crimes have broken Malaysian laws:
Malaysians are embarrassed by the fact that our top prosecuting officer had to be schooled by foreign jurisdictions on the laws of this country.
Instead of crying “frustration” that “the AG's Chambers was not informed or alerted by DOJ of this action”, Malaysians would like to know if the AG has bothered to even initiate requests for evidence from the US authorities since the DOJ filed their first asset seizure suit nearly a year ago?
Or is it a case for the AG to see no evil, hear no evil and hence speak no evil?
Besides some of the juiciest scandalous details befitting tabloid headlines around the world, the DOJ also took pains to elaborate how the funds exceeding USD5.6 billion have been laundered by 1MDB officials, Jho Low and his associates.
The DOJ detailed how 1MDB forged financial statements, falsified audited financial statements, created multiple version of agreements for the very same transactions, colluded with foreign companies, lied to financial officers and authorities and outrageously pledged worthless securities as collateral to secure its US$975 million loan from the Deutsche Bank-led consortium.
All these evidential details – telephone conversations, email correspondences, financial statements, transaction documents – were clearly painstakingly gathered by the DOJ from all international banking institutions involved with 1MDB as well as other relevant witnesses around the world.
And yet, the first and only response from our Attorney-General, Tan Sri Apandi Ali to date has been to rue DOJ’s “insinuations that have been made against the prime minister of criminal wrongdoing”.
You are wrong, Mr Attorney-General. The US DOJ suit did not mention or even highlight any specific wrongdoing by Dato’ Seri Najib Razak. The US DOJ merely detailed how more than US$5 billion from 1MDB, an entity owned by the Malaysian government have been laundered around the world by a Low Taek Jho and his associates.
In the process, the US DOJ merely mentioned that some of the ultimate beneficiaries of the laundering exercise were Dato’ Seri Najib Razak, to the tune of US$732 million and his wife, who received a gift of a pink diamond necklace worth more than US$30 million.
Like Jho’s girlfriend, Miranda Kerr who received multi-million dollar diamond studded jewelry, or “friend”, Leonardo DiCaprio who received multi-million dollar worth of rare movie memorabilia and paintings, they may be oblivious to the fact that the items were purchased with laundered funds.
Perhaps the Prime Minister and his wife are equally innocent and all they need to do is to return the money or surrender the jewelry, just as Leonardo have done. Hence, it is misguided for Tan Sri Apandi Ali to conclude the DOJ case as one against the Prime Minister.
The real question then is for Tan Sri Apandi Ali to investigate the money laundering exercise carried out by mastermind Jho Low and the abetting 1MDB officials. The Attorney-General cannot deny the overwhelming prima facie evidence presented by the DOJ on the above.
In fact, the DOJ even presented how the above crimes have broken Malaysian laws:
942. Misappropriating public funds by a public official is a criminal offense under Malaysian law, as enumerated by the Penal Code of Malaysia, including but not limited to sections 403 (dishonest misappropriation of property), 405 (criminal breach of trust), 409 (criminal breach of trust by public servant or agent), 166 (Public servant disobeying a direction of the law, with intent to cause injury to any person (including a company)), 415 (cheating), 418 (cheating with knowledge that wrongful loss may be thereby caused to a person whose interest the offender is bound to protect), and 420 (cheating and dishonestly inducing delivery of property); and the Malaysian Anti- Corruption Act 2009, including sections 16, 17, and 23. Copies of these laws are set forth in Attachment B.
943. Bank fraud is a criminal offense under Malaysian law, as enumerated by the Penal Code of Malaysia, including but not limited to section 415 (cheating), 418 (cheating with knowledge that wrongful loss may be thereby caused to a person whose interest the offender is bound to protect), and 420 (cheating and dishonestly inducing delivery of property).
Malaysians are embarrassed by the fact that our top prosecuting officer had to be schooled by foreign jurisdictions on the laws of this country.
Instead of crying “frustration” that “the AG's Chambers was not informed or alerted by DOJ of this action”, Malaysians would like to know if the AG has bothered to even initiate requests for evidence from the US authorities since the DOJ filed their first asset seizure suit nearly a year ago?
Or is it a case for the AG to see no evil, hear no evil and hence speak no evil?
Friday, May 26, 2017
The MACC will never shake its politically tainted image unless it starts taking action against power abuse and corruption in relation to 1MDB and SRC International
The Malaysian Anti-Corruption Commission (MACC) has been putting up a brave front in making dozens of arrests of corrupt government officials from state utilities and zakat officials to senior police officers around the country.
While none of the key arrests to date have resulted in convictions in the court of law, the relatively aggressive effort in fighting corruption is to be applauded.
However, all its efforts have failed to redeem the commission’s tarnished and tainted image of being a political tool of the Najib administration, and for its failure in touching anything remotely connected to the two largest scandals afflicting Malaysia today – 1MDB and SRC International.
In comparison, over the period of a year, the Singapore authorities have prosecuted and secured guilty verdicts against various parties involved in facilitating the laundering of illegally sourced funds passing through the Singapore banking system.
The most recent conviction was against a remisier who provided a S$3,000 inducement to a financial analyst to produce a favourable valuation report for a then proposed US$2.4 billion acquisition of Petrosaudi Oil Services Limited (PSOSL) by 1MDB.
In Malaysia, the Auditor-General and Public Accounts Committee (PAC) have already flagged the transaction as highly irregular and failed all tests of corporate goverance and due diligence – with the management both misleading the 1MDB Board of Directors, as well as ignoring the instructions of the latter.
Why is it that while the Singapore authorities have not only completed the prosecution and conviction of those found guilty of being involved in the above fraudulent transaction, but in Malaysia, the MACC isn’t even remotely close to completing its investigations. In fact, the MACC Chief Commissioner has consistently refused to confirm if there are any investigations on the parties involved in the 1MDB scandal which have burdened the Malaysian tax-payers with RM42 billion of financial liabilities.
As a result, regardless of how many other arrests the MACC made against police officers and other agencies, the rakyat will forever view MACC as a biased agency which will only take action against the fish fries and not the monster sharks. This is especially since it is now public knowledge, undenied by the Prime Minister, Dato’ Seri Najib Razak himself, that at least US$731 million originating from 1MDB and RM69 million from SRC International Sdn Bhd found its way to his personal bank account with Ambank Bhd.
The Chief Commissioner, Datuk Dzulkifli Ahmad had tried to brush off criticisms of MACC’s tardiness by claiming that actions against politicians are delayed because they didn’t want the issue to be made used of by politicians for the purposes of campaigning.
"There is no issue of 'pilih kasih' (favouritism), it's about timing. If we take action straightaway, then that's favouritism," he told reporters in Kuala Lumpur today.
Datuk Dzulkifli could not be more misguided in his rational for not completing its investigations on 1MDB and SRC International, or prosecuting the politicians involved. In fact, his failure to take action against corrupt politicians on a timely basis is itself an act of ‘favouritism’.
It is not the business of MACC to interfere with politics or political campaigning. The business of MACC is to prosecute the corrupt, regardless of whether the person is the Prime Minister or a lowly civil servant. The constitution provides for the fact that all Malaysians are equal under the eyes of the law.
Secondly, Datuk Dzulkifli appears to insinuate that political campaigning against corrupt officials is a despicable and dishonourable activity. The MACC Chief could not be more wrong. Campaigning against the politically corrupt officials is central and integral to the concept of electoral democracy.
The rakyat must have the opportunity to hear and understand all the relevant facts, so that they are able to make informed choices during the General Election.
So, Datuk Dzulkifli, we call upon you to use the powers vested upon MACC to take immediate and uncompromised actions against political figures who are involved in abuse of power, the misappropriation of state funds as well as corruption. It will go a long way towards redeeming the severely damaged image of MACC and demonstrating that you really act without fear or favour.
While none of the key arrests to date have resulted in convictions in the court of law, the relatively aggressive effort in fighting corruption is to be applauded.
However, all its efforts have failed to redeem the commission’s tarnished and tainted image of being a political tool of the Najib administration, and for its failure in touching anything remotely connected to the two largest scandals afflicting Malaysia today – 1MDB and SRC International.
In comparison, over the period of a year, the Singapore authorities have prosecuted and secured guilty verdicts against various parties involved in facilitating the laundering of illegally sourced funds passing through the Singapore banking system.
The most recent conviction was against a remisier who provided a S$3,000 inducement to a financial analyst to produce a favourable valuation report for a then proposed US$2.4 billion acquisition of Petrosaudi Oil Services Limited (PSOSL) by 1MDB.
In Malaysia, the Auditor-General and Public Accounts Committee (PAC) have already flagged the transaction as highly irregular and failed all tests of corporate goverance and due diligence – with the management both misleading the 1MDB Board of Directors, as well as ignoring the instructions of the latter.
Why is it that while the Singapore authorities have not only completed the prosecution and conviction of those found guilty of being involved in the above fraudulent transaction, but in Malaysia, the MACC isn’t even remotely close to completing its investigations. In fact, the MACC Chief Commissioner has consistently refused to confirm if there are any investigations on the parties involved in the 1MDB scandal which have burdened the Malaysian tax-payers with RM42 billion of financial liabilities.
As a result, regardless of how many other arrests the MACC made against police officers and other agencies, the rakyat will forever view MACC as a biased agency which will only take action against the fish fries and not the monster sharks. This is especially since it is now public knowledge, undenied by the Prime Minister, Dato’ Seri Najib Razak himself, that at least US$731 million originating from 1MDB and RM69 million from SRC International Sdn Bhd found its way to his personal bank account with Ambank Bhd.
The Chief Commissioner, Datuk Dzulkifli Ahmad had tried to brush off criticisms of MACC’s tardiness by claiming that actions against politicians are delayed because they didn’t want the issue to be made used of by politicians for the purposes of campaigning.
"There is no issue of 'pilih kasih' (favouritism), it's about timing. If we take action straightaway, then that's favouritism," he told reporters in Kuala Lumpur today.
Datuk Dzulkifli could not be more misguided in his rational for not completing its investigations on 1MDB and SRC International, or prosecuting the politicians involved. In fact, his failure to take action against corrupt politicians on a timely basis is itself an act of ‘favouritism’.
It is not the business of MACC to interfere with politics or political campaigning. The business of MACC is to prosecute the corrupt, regardless of whether the person is the Prime Minister or a lowly civil servant. The constitution provides for the fact that all Malaysians are equal under the eyes of the law.
Secondly, Datuk Dzulkifli appears to insinuate that political campaigning against corrupt officials is a despicable and dishonourable activity. The MACC Chief could not be more wrong. Campaigning against the politically corrupt officials is central and integral to the concept of electoral democracy.
The rakyat must have the opportunity to hear and understand all the relevant facts, so that they are able to make informed choices during the General Election.
So, Datuk Dzulkifli, we call upon you to use the powers vested upon MACC to take immediate and uncompromised actions against political figures who are involved in abuse of power, the misappropriation of state funds as well as corruption. It will go a long way towards redeeming the severely damaged image of MACC and demonstrating that you really act without fear or favour.
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