October 27


Another ‘investigative bang’?

CLARE Rewcastle-Brown’s need for an audience is obvious to anyone who reads her ranting about the Wall Street Journal’s brilliant book, Billion Dollar Whale. Rewcastle-Brown had survived because she was the lucky receiver of stolen files from PetroSaudi. But she was totally outstripped by the WSJ because they could understand and explain the material. Rewcastle could do neither.


So now she brings us another “investigative piece” claiming that there is a wider range to the 1Malaysia Development Bhd scandal. There may be more to it, but on the evidence of her latest work, she needs the WSJ to ride to the rescue.

In her latest, she tells us that Goldman Sachs’ 1MDB bonds represented merely the latest development in the sort of activities that inspired our intrigue. The piece is long for the average reader, at least for web reporting. So now she sensationally introduces Roger Ng, Deutsche Bank, Taib Mahmud, as well as other well-placed Malaysian decision makers into the web to spice us better than a real treat of sambal belacan. It seems likely, after the Taib family took down the Bruno Manser Fund in the Canadian High Court, that they must have been missing the attention.

But she cannot tell us more than the shocking information that Deutsche Bank and Goldman Sachs do business in Malaysia.

Kenanga Holdings is added into the confusing intrigue. She spills a big can of sambal.

Everyone in the industry knew Deutsche Bank held a stake in Kenanga, a publicly traded company. This is a matter of public record. They had one seat on Kenanga’s board. Kenanga is the largest retail stockbroking company in Malaysia. Cahaya Mata Sarawak Berhad holds 25% of Kenanga (after merging their broking firm Sarawak Securities Sdn Bhd).

The Taib family made hundreds of millions from stockbroking in the 1990s during the stock market boom. At that time the company was a private company. Oops. Rewcastle-Brown always claimed that the Taib family made its money invisibly and through illegal logging. That claim was what destroyed the BMF case in Canada. But now we see that the Taibs got rich in public, on record in public companies. Thanks Rewcastle-Brown.

When did you notice?

But this appears to be what we already know.

It looks like the Sarawak Report and Global Witness (a Soros company) want to cast a wider net on the 1MDB scandal to “tumis” (stir fry) the report.

“This guy knew this guy, who knew this guy.”

How amusing. I know a guy, who knows a guy, who knows James Bond.


Source: https://www.themalaysianinsight.com/s/106145