Tag Archives: 1MDB

May 20

Khairy wants PAC to probe Jho Low over 1MDB, says report

Umno Youth chief Khairy Jamaluddin is insisting that businessman Low Taek Jho be investigated by parliament’s Public Accounts Committee (PAC) over his involvement in debt-ridden state fund 1Malaysia Development Bhd (1MDB), The Star Online reported. He said public speculation over Low’s involvement in the scandal was too great to be ignored, adding that “whatever way […]

May 14

UMNO leader flays 1MDB board for letting PM roast

An Umno supreme council member said it is unfair for Prime Minister Najib Abdul Razak to be solely responsible in responding to problems plaguing 1Malaysia Development Berhad (1MDB). He wanted the ailing firm’s board of directors to step up to the plate. Reezal (photo) blamed the board for failing to clarify issues that cropped up […]

May 09

In defence of Tabung Haji, writes Lukman Sheriff Alias (updated)

As the facts are becoming clearer, Tabung Haji has purchased one lot at 1MDB at a discounted value and rejected the tower. There has been tremendous debate from the likes of our former PM Tun Dr Mahathir Mohamad, blogger Din Merican, Khairy Jamaluddin, and the list goes on. Lukman Sheriff Alias takes a different perspective. […]

April 25

1MDB to media: no comment on speculation or rumours

Singapore branch of Swiss bank alleges that certain 1MDB documents were falsified, giving an inaccurate impression of company assets. Free Malaysia Today has this report on Malaysian Insider’s attempt to get clarifications from 1MDB: “Thank you for your e-mail. While we welcome media enquiries, 1MDB does not comment on speculation and market rumours.” That was […]

April 24

My thoughts on 1MDB – Mahathir Mohamad

Former prime minister of Malaysia, Tun Dr Mahathir Mohamad writes his thoughts on 1MDB: 1. The management of government finances is governed by laws, rules, regulations and practices. Companies also have similar systems but the government manages huge sums of money, basically the people’s money, and it is imperative that the managers follow the laws, […]

March 31

Ringgit victim of ‘poor perception’

Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz was in the media spotlight recently. The press conference following BNM’s release of its 2014 annual report became a spirited question-and-answer session focusing on the depreciating ringgit, said to be linked to falling oil prices and the 1Malaysia Development Bhd (1MDB) controversy. Grilled by […]

March 26

KPMG defends 1MDB audit

Accounting firm KPMG has defended its audit conducted on 1Malaysia Development Bhd (1MDB) that had entered a controversial now-defunct joint venture with PetroSaudi International Limited, says MalayMail Online in a report. Local news portal MalaysiaKini reported today KPMG insisting that the audit on the state investment arm was above board and followed “international standards.” http://www.malaysiakini.com/news/293250 […]

March 20

Not unusual for 1MDB to operate in secrecy, says Azmi Hassan

Transparency could hurt sovereign fund’s business dealings, says Azmi Hassan. Free Malaysia Today reports: SHAH ALAM: It is not unusual for state-owned investment funds to operate under a veil of secrecy, said a university professor yesterday at a forum on 1MDB here. “There are about 50-60 companies like 1MDB in the world and over 90 […]

March 10

Rafizi Ramli arrested over rally

PKR’s secretary-general is detained at police station after he lodged a police report against 1MDB. Police turned the tables on Rafizi Ramli when he was arrested instead after lodging a police report on 1MDB at the Dang Wangi police station this evening, Malaysiakini reported. He was arrested for his part in the March 7 #KitaLawan […]

March 06

PM Najib sues DAP’s Pua over 1MDB rants (updated)

Prime Minister Datuk Seri Najib Tun Razak has filed a defamation suit against Petaling Jaya Utara MP Tony Pua Kiam Wee and another person over Pua’s remark about 1Malaysia Development Berhad (1MDB). Najib, 61, filed the suit yesterday at the Civil High Court registry here through Messrs Hafarizam Wan & Aisha Mubarak. The media obtained […]

March 05

1MDB says will cooperate with A-G audit, insists attacks political

Maintaining that it was a victim of politically-motivated attacks, 1 Malaysia Development Berhad (1MDB) said today it will open its books to the independent audit ordered by Prime Minister Datuk Seri Najib Razak.  MalayMail OnLine reports: 1MDB group executive director Arul Kanda Kandasamy said the firm “welcomes” the prime minister’s request for the audit, and […]

March 04

PM orders Auditor-General to vet 1MDB’s accounts

Prime Minister Datuk Seri Najib Razak has ordered the Auditor-General to vet the debt-laden 1Malaysia Development Bhd’s accounts, after the Cabient was briefed about the government-owned company’s accounts and told allegations against it were related to transactions by third parties such as PetroSaudi International. Malaysian Insider has the report: Najib said in a statement today […]

March 02

PetroSaudi lodges police report against website’s allegations

PetroSaudi Investments Limited has lodged a report with the city of London Police Action Fraud Unit at the National Fraud and Cyber Crime Reporting Centre at 3.45pm UK time (March 1). KUALA LUMPUR, March 2, 2015: PetroSaudi Investments Limited has lodged a police report in connection with allegations made by a website on the firm’s relationship […]

March 02

All funds from 1Malaysia Development Bhd went to Petrosaudi-owned entities, any other inference is false

PetroSaudi International has stated categorically that all funds from 1Malaysia Development Bhd (1MDB) went to Petrosaudi-owned entities and any other inference is false. The company said this in response to certain media reports that it claimed, had made malicious and harmful allegations, in respect of its partnership with 1MDB. “Upon 1MDB’s exit, PetroSaudi had paid […]

March 02

Political motivation behind reports about 1Malaysia Development Bhd’s investments and financial dealings

The Malaysian Prime Ministers’ Office has questioned the political motivation behind reports about 1Malaysia Development Bhd’s investments and financial dealings. “Views expressed by certain quarters concerning 1MDB should be examined in light of political motivation,” the PM”s Office said in response to the Sunday Times newspaper, which has carried reports about the troubled government-owned investment […]

January 17

1MDB chief should testify before parliamentary panel, says Pua

DAP lawmaker Tony Pua has challenged 1Malaysia Development Berhad (1MDB) chief Arul Kandasamy to testify to the Parliamentary Public Accounts Committee (PAC) on the strategic investor’s state of affairs, saying that this would ensure its engagement was fair and free of politics. “Since ‘public scrutiny of 1MDB is a good thing’, the new CEO, Arul […]

January 06

1MDB’s failure to settle debt seen driving down ringgit, says economist

Tonight our sleep may be somewhat disturbed. As it is, our day today had been disturbed by news of a weakening Ringgit against the US Dollar. The Edge Financial Daily and its sister news portal Malaysian Insider posted this report – 1Malaysia Development Bhd’s (1MDB) failure to settle an RM2 billion loan to local lenders […]

January 06

Bank Negara grills top executives as 1MDB fails to settle RM2 billion debt again

Today Malaysians wake up to this piece of news. And I really mean wake up. Malaysian Insider and its counterpart The Edge Financial Daily report – Not only is heavily indebted 1Malaysia Development Bhd (1MDB) getting a new chief executive officer (CEO), but it has also failed for a second time to pay a RM2 […]

December 17

UMNO revolt rises against Malaysia PM

Asia Sentinel reports – Mahathir attempt to overthrow Najib may be gaining traction With the filing of a police report late last week by a member of Prime Minister Najib Tun Razak’s own political party, the long knives have appeared in Malaysia, seeking the premier’s scalp over the scandal-ridden state investment fund 1Malaysia Development Bhd. […]

December 15

Keeping silent not an option for 1MDB

1Malaysia Development Berhad (1MDB), Malaysia’s second sovereign wealth fund after Khazanah Nasional Bhd, has been at the centre of a major controversy in respect to the fund’s massive debts, dubious asset deals, and clandestineness over its transactions. It seemed strange why its experienced chairman, board and management, held a cloak of secrecy on its activities. […]

December 13

UMNO Batu Kawan leader lodges police report against 1MDB

While the UMNO assembly can be considered an internal party affair, in reality, the nation considers it more than just an UMNO matter but a matter that affects the entire nation. In short, issues raised are not just the concern of the Malays but Malaysians as a whole. Apart from the opposition, which has described […]

December 05

Where is Sarawak Report going with Lindsay Lohan? And Paris Hilton?

The most recent article published by Sarawak Report (Lindsay Lohan – The Latest Hollywood Link To 1MDB!) is, apparently, about 1MDB. Certainly, Sarawak Report has written about 1MDB before and, as a website dedicated to political activism, it is understandable that they would take an interest in an important Federal Government initiative. Much is said […]