by Ganesh Sahathevan
It is important to remember that bankers do not simply transfer the monies of a sovereign wealth fund on the say so of "friends and family". Duly notarized authorization from its board, if not the persons actually in control of the fund are required for these types of transactions.
Yet according to Singapore prosecutors this is exactly what Jho Low managed to do in transferring billions in the name of 1MDB and its former subsidiary SRC.
It is therefore important therefore to recall the words of the former Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said:
“1MDB is under the purview of the Finance Ministry. So the ministry must be responsible. That responsibility is then brought to the Cabinet to get their endorsement to what 1MDB is doing......"
END
Friday, July 14, 2017
Senator Penny Wong born in Malaysia,and born a Malaysian citizen-Has she officially renounced Malaysian citizenship, and can we see proof?
by Ganesh Sahathevan
Penelope Wong Ying Yen, aka Senator Penny Wong, was born in Kota Kinabalu ,State Of Sabah, Federation of Malaysia. Her father Francis Wong is a Malaysian citizen,which makes Wong a Malaysian citizen by birth.
While she moved to Australia in 1976,that would not have caused the loss of her Malaysian citizenship.
Many Malaysians who later in life took up citizenship of other countries assumed that by doing so Malaysian citizenship was lost automatically, but this is not the case.
There is ,provided for in the Malaysian Constitution and arising laws a process which requires citizens who wish to renounce their citizenship to make a formal application to do so.It is up to the Malaysian Government to determine if the application should be accepted.
If the Government determines that the application is to be accepted, then the applicant is issued a formal notice of that fact,with a copy of his or her Malaysian birth certificate marked with words in Malay and/or English ,"No longer a citizen of Malaysia (paraphrase)".
None of this has ever been provided the public in the case of Penny Wong. Indeed the question has never been put. We are simply expected to accept that Wong is not a citizen of Malaysia, despite the facts.
END
Penelope Wong Ying Yen, aka Senator Penny Wong, was born in Kota Kinabalu ,State Of Sabah, Federation of Malaysia. Her father Francis Wong is a Malaysian citizen,which makes Wong a Malaysian citizen by birth.
While she moved to Australia in 1976,that would not have caused the loss of her Malaysian citizenship.
Many Malaysians who later in life took up citizenship of other countries assumed that by doing so Malaysian citizenship was lost automatically, but this is not the case.
There is ,provided for in the Malaysian Constitution and arising laws a process which requires citizens who wish to renounce their citizenship to make a formal application to do so.It is up to the Malaysian Government to determine if the application should be accepted.
If the Government determines that the application is to be accepted, then the applicant is issued a formal notice of that fact,with a copy of his or her Malaysian birth certificate marked with words in Malay and/or English ,"No longer a citizen of Malaysia (paraphrase)".
None of this has ever been provided the public in the case of Penny Wong. Indeed the question has never been put. We are simply expected to accept that Wong is not a citizen of Malaysia, despite the facts.
END
Wednesday, July 12, 2017
ANZ selling AMBank stake to a victim of theft and money laundering that ANZ/AMBank facilitated -Swiss AG called it a "‘Ponzi‘ scheme fraud"
by Ganesh Sahathevan
Malaysia's AG reveals further evidence of wrong doing while ANZ's Elliot was still an Ambank director :Sarawak Report analysis suggests AMbank's ANZ led management were willing participants
And now from Reuters
Previously reported by Sarawak Report:
“On analysing the evidence obtained, the OAG identified further suspect transactions involving the Swiss financial sector. Firstly, the sum of USD 800 million appears to have been misappropriated from investments in natural resources made by the SRC sovereign fund. Secondly, it is suspected that a ‘Ponzi‘ scheme fraud (i.e. paying the returns on initial investments from funds obtained from subsequent investors rather than from legitimate revenue from the investments) was committed to conceal the misappropriations from both the SRC fund and from 1MDB. These suspected misappropriations from 1MDB were the subject of the OAG’s first request for mutual legal assistance to the Malaysian authorities.
SRC – Raiding Civil Service Pensions
SRC was originally funded by a huge RM3.81 billion loan (US$900 million at today’s conversion rates) awarded in 2011 by the KWAP public pension fund, which is entrusted to look after the retirement savings of Malaysia’s civil servant
And now from Reuters
JULY 12, 2017 / 10:39 PM / 11 HOURS AGO
ANZ Bank nears deal to sell Malaysian banking stake to pension fund: sources
ANZ Bank nears deal to sell Malaysian banking stake to pension fund: sources
KUALA LUMPUR/ABU DHABI (Reuters) - Australia and New Zealand Banking Group (ANZ.AX) is near a deal to sell its Malaysian banking stake to a pension fund and exit the Southeast Asian nation, sources familiar with the matter said, in a transaction that could be worth around $900 million.
ANZ has been pursuing a sale of its 24 percent stake in its Malaysian affiliate AMMB Holdings (AmBank) (AMMB.KL) since early last year as part of a strategy to divest minority stakes in Asia and as AmBank was dragged into a wide-ranging corruption scandal at state fund 1MDB.
In June, RHB Bank (RHBC.KL) and AmBank said they were starting merger talks, in Malaysia's biggest ever banking deal. As part of the all-share deal, valued at about $9 billion, RHB is looking to acquire AmBank and the two banks are in exclusive talks until the end of August.
ANZ's stake is expected to be roughly 10 percent in the merged entity.
Sources said ANZ is in talks to sell that stake to Malaysian retirement fund KWAP, which already owns small stakes in both RHB and AmBank.
Both firms have "agreed in principle" to the deal at a price equivalent to one time book value of AmBank, said one of the sources.
"KWAP has always had an aspiration to hold a significant investment in a financial institution. KWAP had considered purchasing part of ANZ's stake two years ago but was not agreeable to the pricing," said the source.
Last week, Malaysia's Star newspaper quoted KWAP CEO Wan Kamaruzaman Wan Ahmad as saying the fund was keen on buying ANZ's stake after the proposed RHB and AmBank merger.
KWAP and AmBank declined to comment. "We will decline to comment on market speculation," an ANZ spokesman said.
ANZ's stake is also drawing interest from another Malaysian institutional investor, said the source.
The sources declined to be identified as the discussions were private.
RHB has indicated to analysts that it would pay AmBank shareholders a one-time multiple of the latter's book value.
1mdb Shadow
ANZ wanted to exit the stake partly after AmBank was dragged into a political scandal linked to state fund 1Malaysia Development Bhd (1MDB) and Prime Minister Najib Razak, sources have previously said.
In 2015, AmBank was slapped with a 53.7 million ringgit fine by Malaysian regulators for breaching financial regulations.
Najib has been buffeted by allegations of graft, in particular by revelations of the transfer of hundreds of millions of dollars into his AmBank account in 2013.
The Prime Minister has denied any wrongdoing.
If the RHB-AmBank merger wins the approval of shareholders, the stakes of other key shareholders will also decline in the merged entity. Abu Dhabi's Aabar Investments, with a 17.8 percent stake in RHB, would hold 10.3 percent, according to a note by Maybank Research.
The Abu Dhabi firm, which has been linked to the 1MDB scandal, merged into Mubadala last year. A separate source close to Mubadala said the firm wants to eventually sell Aabar's stake in RHB, but will wait until it gets a "fair" price.
Mubadala declined to comment.
Writing by Anshuman Daga; Editing by Praveen Menon and Muralikumar Anantharaman
ANZ has been pursuing a sale of its 24 percent stake in its Malaysian affiliate AMMB Holdings (AmBank) (AMMB.KL) since early last year as part of a strategy to divest minority stakes in Asia and as AmBank was dragged into a wide-ranging corruption scandal at state fund 1MDB.
In June, RHB Bank (RHBC.KL) and AmBank said they were starting merger talks, in Malaysia's biggest ever banking deal. As part of the all-share deal, valued at about $9 billion, RHB is looking to acquire AmBank and the two banks are in exclusive talks until the end of August.
ANZ's stake is expected to be roughly 10 percent in the merged entity.
Sources said ANZ is in talks to sell that stake to Malaysian retirement fund KWAP, which already owns small stakes in both RHB and AmBank.
Both firms have "agreed in principle" to the deal at a price equivalent to one time book value of AmBank, said one of the sources.
"KWAP has always had an aspiration to hold a significant investment in a financial institution. KWAP had considered purchasing part of ANZ's stake two years ago but was not agreeable to the pricing," said the source.
Last week, Malaysia's Star newspaper quoted KWAP CEO Wan Kamaruzaman Wan Ahmad as saying the fund was keen on buying ANZ's stake after the proposed RHB and AmBank merger.
KWAP and AmBank declined to comment. "We will decline to comment on market speculation," an ANZ spokesman said.
ANZ's stake is also drawing interest from another Malaysian institutional investor, said the source.
The sources declined to be identified as the discussions were private.
RHB has indicated to analysts that it would pay AmBank shareholders a one-time multiple of the latter's book value.
1mdb Shadow
ANZ wanted to exit the stake partly after AmBank was dragged into a political scandal linked to state fund 1Malaysia Development Bhd (1MDB) and Prime Minister Najib Razak, sources have previously said.
In 2015, AmBank was slapped with a 53.7 million ringgit fine by Malaysian regulators for breaching financial regulations.
Najib has been buffeted by allegations of graft, in particular by revelations of the transfer of hundreds of millions of dollars into his AmBank account in 2013.
The Prime Minister has denied any wrongdoing.
If the RHB-AmBank merger wins the approval of shareholders, the stakes of other key shareholders will also decline in the merged entity. Abu Dhabi's Aabar Investments, with a 17.8 percent stake in RHB, would hold 10.3 percent, according to a note by Maybank Research.
The Abu Dhabi firm, which has been linked to the 1MDB scandal, merged into Mubadala last year. A separate source close to Mubadala said the firm wants to eventually sell Aabar's stake in RHB, but will wait until it gets a "fair" price.
Mubadala declined to comment.
Writing by Anshuman Daga; Editing by Praveen Menon and Muralikumar Anantharaman
SWISS BOMB - Stolen! SRC's US$800m From Public Pension In 'Ponzi Fraud'
- 5 October 2016
- 68 comments
Najib’s hand-picked Attorney General was today publicly shamed by his Swiss counterpart, who was driven to make yet another announcement requesting mutual legal assistance over 1MDB, which has till now been notably unforthcoming.
The Swiss AG, Michael Lauber, rubbed in the message by pointing out that by contrast Singapore has acceded to such requests in all respects and provided full cooperation.
The Swiss press release reminded that a criminal investigation had been opened since August of last year and added devastating new information from the case, revealing that no less than US$800 million is believed to have also been stolen from the former 1MDB subsidiary SRC.
“On analysing the evidence obtained, the OAG identified further suspect transactions involving the Swiss financial sector. Firstly, the sum of USD 800 million appears to have been misappropriated from investments in natural resources made by the SRC sovereign fund. Secondly, it is suspected that a ‘Ponzi‘ scheme fraud (i.e. paying the returns on initial investments from funds obtained from subsequent investors rather than from legitimate revenue from the investments) was committed to conceal the misappropriations from both the SRC fund and from 1MDB. These suspected misappropriations from 1MDB were the subject of the OAG’s first request for mutual legal assistance to the Malaysian authorities.
SRC – Raiding Civil Service Pensions
SRC was originally funded by a huge RM3.81 billion loan (US$900 million at today’s conversion rates) awarded in 2011 by the KWAP public pension fund, which is entrusted to look after the retirement savings of Malaysia’s civil servants.
For years critics have been asking for transparency over where that money was invested, only to be faced with evasive answers and a failure to produce its audits. Eventually, in 2012 SRC was transferred directly under the Ministry of Finance (thereby removing its highly suspect transactions from 1MDB’s books).
As late as April of this year Najib Razak, in his role as Finance Minister, was still refusing to accountfor the missing pension money:
“Prime Minister Datuk Seri Najib Razak said details on the RM4 billion loan from Retirement Fund Inc (KWAP) to SRC International cannot be revealed as it has not to been audited. Najib, who is also Finance Minister, in a written reply to Datuk Mohd Ariff Sabri Abdul Aziz (DAP-Raub) said 1Malaysia Development Bhd (1MBD), the former parent company of SRC International, would not reveal such information before it was audited. “The information requested (by Ariff) is part of the information that has not been audited. “1MDB has a standard practice where only detailed information that has been audited will be shared to the public to ensure that the information is accurate and genuine,” he said. [New Straits Times]
Previously, when questioned, Najib, who is directly responsible for the fund, had indicated that the money had been invested in energy sector projects, specifically a Mongolian coal mining venture, Gobi Coal & Energy. However, last year Sarawak Report analysed the figures and public information to discover that at most only a fractional 5% of the money (at most RM200 million) could have been invested in this apparently flag-ship project.
Now the Swiss have confirmed that their evidence shows that $800 of this money Najib has refused to account for was stolen by former officials from 1MDB and “further persons unknown”
The Swiss further emphasise that the money was misappropriated from “investments in natural resources”. Sarawak Report’s investigations into SRC have indicated that this may be a reference to the Gobi Coal venture.
However, we have also questioned the mysterious ‘facilitating role’ which a private company owned by Jho Low, similarly named SRG (Strategic Resources Global as opposed to SRC Strategic Resources Company), adopted in the purchase of Canada’s Coastal Energy together with another of 1MDB’s so-called joint venture partners, Aabar.
Was the purchase of Coastal Energy, which has concessions in the Malaysia region, another vehicle for siphoning money from SRC through the repayment of options believed to have been entered into in the deal?
Shocking Trail To Najib’s Own Accounts
Today’s revelations by the Swiss represent possibly the most damning single piece of evidence produced directly against Prime Minister Najib Razak in the international 1MDB investigations so far. They come on top of the United States’ separate findings in July that US$681 million were channelled from 1MDB into Najib’s personal accounts in KL.
The damage owes to the fact that this was government servants’ pension money, some of which had never even left Malaysia to supposedly be invested. Extensive tracking by Malaysia’s own anti-corruption investigators had already traced millions of ringgit last year, which were funnelled straight from SRC into a network of private bank accounts in the name of Najib Razak at AmBank.
Now it is learnt that $800 million of the total $900 million was also thieved abroad.
The local transfers were first publicised in July last year by Sarawak Report. RM42 million, which were channelled SRC (via two companies controlled by its CEO) into Najib’s accounts between July 2014 and February 2015 formed the basis for the Charge Sheet drawn up naming Najib Razak.
Later, in January of this year, the new Attorney General, whom Najib hand-picked after unconstitutionally sacking his predecessor to avoid arrest, alerted reporters to further transfers of RM27 million, when he waived MACC flow charts, while at the same time claiming the case was closed.
Apandi ‘cleared’ the Prime Minister (despite official protests from law enforcers and lawyers, who pointed out he had exceeded his constitutional powers in doing so). The grounds for Najib’s exoneration was that he had thought the money had been passed from a ‘Saudi Royal donation’ into these accounts.
Numerous details have now been released as to how Najib spent this money. Millions were used to fund two credit cards, which were used to buy jewellery and pay for hotel bills during foreign holidays. Millions more were paid out in cheques to 17 so far unnamed individual recipients and over a million ringgit was spent on an anti-ageing therapy for Najib and his wife.
Role of Nik Arif Faisal Kamil
The Swiss challenge over SRC has thrown new question-marks over the man who continues to head SRC, although he has been absent from his desk for over a year since the 1MDB scandal first erupted.
Many believed Nik Arif Faisal Kamil had escaped abroad, however he is believed to be lying low in KL and KK, thanks to the protection of Najib. Nik Kamil is a long-term close associate of Jho Low, who worked first as his investment officer at UBG (co-owned by Sarawak’s Taib Mahmud) then moved over to 1MDB to steer through the UBG buy-out with money from the fund.
It was after the so-called Project Uganda (the pretended UBG buy-out by PetroSaudi) was completed that Nik Kamil was appointed CEO of the newly minted SRC and its RM3.81 billion in borrowed cash. Significantly, as Sarawak Report has earlier revealed, the CEO of SRC was also appointed as an “authorised person” over a web of new private accounts set up by Najib at AmBank.
It gave Nik Kamil authority to make payments including ‘cash deposits’, acting presumably as the trusted agent of Jho Low.
These were the same numbered accounts into which money was transferred from SRC over ensuing months, via a separate private company (Gandingan Mentari) of which he also was Director – making Nik Arif Faisal Kamil a top potential suspect as one of the two ‘former 1MDB officials’ being investigated by the Swiss.
Open Invitation to Malaysian Individuals to Complain?
Yet this pales into insignificance now that Malaysians realise that a further $800 million disappeared abroad.
In a crucial line of today’s public release Switzerland requests the Malaysian authorities to provide details of “presumed companies/persons suffering harm” from these monster thefts, so that they can assert their rights in the Swiss criminal proceedings:
“The OAG has also requested assistance from the Malaysian authorities so that the presumed companies / persons suffering harm can assert their rights in the Swiss criminal proceedings.
The Swiss AG confirms that it has already asked for this information in January, but no response had been forthcoming.
The statement therefore indicates a now open invitation from the Swiss to Malaysian individuals, who believe themselves adversely affected from the thefts to apply directly to the courts in Berne for recompense.
This would appear to include the tens of thousands of Civil Service pensioners whose money was first borrowed by SRC and then misappropriated under Najib’s watch.
The BSI Bank Connection
The Swiss Prosecutor’s seemingly exclusive angle of SRC appears most likely to be related to information received from BSI Bank Singapore (aided by the assistance of the Singapore authorities). The Singapore court case against the former BSI manager Yak Yew Chee established the bank held accounts not only directly for Jho Low, but also the 1MDB subsidiary Brazen Sky, 1MDB and SRC.
Till now the details of the SRC transactions have remained unpublicised.
Ponzi Scheme Claim Vindicates SR and Tony Pua
The Swiss AG’s announcement of a Ponzi fraud at both SRC and 1MDB has further vindicated suspicions examined earlier on this site. A Ponzi scheme is a method whereby stolen money is concealed by flows of new investments dressed up as previous profits.
Earlier this year Najib had unconstitutionally declared the Auditor General’s report into 1MDB an official secret.
When Sarawak Report published it nonetheless, we reported that DAP finance spokesman Tony Pua had noted compelling evidence indicating fraudulent Ponzi-style ’round-tripping’, designed to gull the auditors Deloittes into recording that money passing through 1MDB’s BSI accounts were ‘profits’ and remittences from its earlier joint ventures with PetroSaudi.
Cayman Treasure Islands
Both the Swiss AG and US DOJ have made clear that some $1.83 billion were in fact stolen from the PetroSaudi joint venture. 1MDB sought to claim however that the ‘investment’ had been sold for a profit, which was then invested in the Cayman Islands.
Under pressure to demonstrate the cash and to show it had been repatriated to satisfy 1MDB’s 2014 Accounts, administrators of the fund produced bank statements to show the flow of US$1.32 billion through its subsidiary Brazen Sky’s accounts at BSI Bank, Singapore.
Pua however noted that during the self same period almost exact sums were recorded leaving the account of 1MDB’s separate subsidiary 1MDB Global’s BSI Lugano account, supplied by later borrowings by the fund. This money was sent to the UBS Singapore account of a bogus BVI subsidiary of the Abu Dhabi fund Aabar, whose top two executives were also again named today as also being under investigation by the Swiss.
From there it would appear these Ponzi payments were transferred on to Brazen Sky, which within hours transferred them back to the BSI Lugano account, which Tony Pua suspects they had originated from.
The details of the thefts, cover-ups and Ponzi-style round-tripping have yet to have been uncovered relating to the further missing sums from SRC. In its statement the Swiss AG Office claims it is confident that Malaysia’s forces of law and order will at last respond to its requests for cooperation.
However, the European finance centre is already locked in diplomatic conflict with Malaysia over Najib’s extra-terrestial bid to hold Swiss national Xavier Justo captive in jail in Thailand.
And Apandi, of course, will do what Najib tells him
Read the full statement:
Date 05.10.20161MDB case: Office of the Attorney General of Switzerland requests further mutual legal assistance from the Malaysian authoritiesBERNE. Following the request it made in January 2016, the Office of the Attorney General of Switzerland (OAG) has again requested mutual legal assistance from the Malaysian authorities. The request comes as part of the criminal proceedings opened in August 2015 in relation to the Malaysian sovereign fund 1MDB (1Malaysia Development Berhad). Investigations have revealed that substantial amounts were misappropriated from the SRC sovereign fund and that fraud was committed based on a form of ‘Ponzi’ scheme.On analysing the evidence obtained, the OAG identified further suspect transactions involving the Swiss financial sector. Firstly, the sum of USD 800 million appears to have been misappropriated from investments in natural resources made by the SRC sovereign fund. Secondly, it is suspected that a ‘Ponzi‘ scheme fraud (i.e. paying the returns on initial investments from funds obtained from subsequent investors rather than from legitimate revenue from the investments) was committed to conceal the misappropriations from both the SRC fund and from 1MDB. These suspected misappropriations from 1MDB were the subject of the OAG’s first request for mutual legal assistance to the Malaysian authorities.The aim of the OAG’s latest request is therefore to obtain further evidence in corroboration of the latest findings, in addition to the assistance requested in the OAG’s initial request of January 2016, which is still pending. The OAG has also requested assistance from the Malaysian authorities so that the presumed companies / persons suffering harm can assert their rights in the Swiss criminal proceedings.Based on these new suspicions, the OAG has also addressed an additional request for mutual legal assistance to Singapore, following an earlier request made in April 2016.Status of the proceedingsOn 14 August 2015, the OAG opened proceedings against two former officials at 1MDB and against persons unknown on suspicion of bribery of foreign public officials (Art. 322septies Swiss Criminal Code, SCC), misconduct in public office (Art. 314 SCC), money laundering (Art. 305bis SCC) and criminal mismanagement (Art. 158 SCC).
1MDB case: Office of the Attorney General of Switzerland requests further mutual legal assistance from the Malaysian authoritiesThe investigation was extended in April 2016 to include two former officials from the United Arab Emirates who had been in charge of Abu Dhabi sovereign funds. They are suspected of committing fraud (Art. 146 SCC), criminal mismanagement (Art. 158 SCC), misconduct in public office (Art .314 SCC), forgery of documents (Art. 251 SCC), bribery of foreign public officials (Art. 322septies SCC) and money laundering (Art. 305bis SCC).The criminal proceedings being conducted by the OAG focus primarily on misappropriation from the 1MDB sovereign fund of monies intended for investment in the PETROSAUDI, TANJONG / GENTING and ADMIC projects, as well as the misappropriation of investments in the SRC sovereign fund in the area of natural resources.In May 2016, following the decision in enforcement proceedings brought by the Swiss Financial Market Supervisory Authority FINMA, the OAG opened criminal proceedings against the BSI SA bank related to suspected deficiencies in the bank’s internal organisation. It is believed that, due to these deficiencies, the bank was unable to prevent the commission of offences currently under investigation.At this stage of the criminal proceedings in connection with the Malaysian sovereign funds 1MDB and SRC, four persons and one bank are under investigation.In addition, the OAG has confirmed receipt, to its full satisfaction, of the evidence requested in April 2016 from the authorities in Singapore via mutual legal assistance. The OAG remains confident that the two requests for mutual legal assistance made to the authorities in Malaysia will be executed.Previous press releases in the 1MDB case
- 29.01.2016: OAG requests Malaysia for mutual assistance
- 12.04.2016: Extension of the Swiss criminal proceedings
- 24.05.2016: Criminal proceedings opened against the BSI SA bank
Tuesday, July 11, 2017
A question for Ustaz Hadi Awang: How can the haj be financed from 1MDB profits, when 1MDB has no operations,and remains only a shell with liabilities?
by Ganesh Sahathevan
This writer has no interest whatsoever in matters religious, but this statement is clearly false, given that 1MDB remains only as a shell,with liabilities, and no operations:
“A portion of 1MDB's profits is used for welfare programmes, but this is not mentioned (by the critics),” (PM Najib) was quoted as saying by Bernama.
Surely there is some rule about how pilgrimages ought to be financed?
END
KINI
Published Today 5:13 pm Updated Today 5:33 pm
Prime Minister Najib Abdul Razak has fired a salvo at his former mentor turned nemesis Dr Mahathir Mohamad and other critics of 1MDB without mentioning names.
Speaking at a mosque in Putrajaya after presenting offer letters to 1,100 individuals to perform the haj with 1MDB funds, the prime minister touched on the criticism towards the firm, whose transactions have become the subject of various international investigations and court action.
Najib pointed out that a portion of 1MDB's revenue is used for various initiatives to help the people, which range from housing to education.
In view of this, the prime minister said these efforts should not be ruined based on the assumptions of individuals, whom he described as “tidak boleh pakai sama sekali” (useless).
Meanwhile, Najib also emphasised the importance of imams and village development and safety (JKKK) heads to correct the misconceptions regarding 1MDB at the grassroots level.
“Because of this, when people criticise 1MDB, we as leaders must understand.
“A portion of 1MDB's profits is used for welfare programmes, but this is not mentioned (by the critics),” he was quoted as saying by Bernama.
Najib also said 1MDB's haj sponsorship would continue if the current government remains in power.
“I hope those of you who will be performing the haj will pray for the country and for the current leadership to be maintained to ensure the continuation of this welfare programme,” he added.
Najib said despite the negative remarks of certain quarters, including a former prime minister, 1MDB has managed to sponsor 5,711 haj pilgrims over the past five years at a cost of RM57 million.Mahathir has repeatedly accused Najib of siphoning funds from 1MDB, which the prime minister has denied.
Najib has also been cleared of any wrongdoing by attorney-general Mohamed Apandi Ali.
The prime minister has accused Mahathir and those aligned to him of plotting to topple him from power.
This writer has no interest whatsoever in matters religious, but this statement is clearly false, given that 1MDB remains only as a shell,with liabilities, and no operations:
“A portion of 1MDB's profits is used for welfare programmes, but this is not mentioned (by the critics),” (PM Najib) was quoted as saying by Bernama.
Surely there is some rule about how pilgrimages ought to be financed?
END
KINI
'Tidak boleh pakai' - Najib opens fire on 1MDB critics
Published Today 5:13 pm Updated Today 5:33 pm
Prime Minister Najib Abdul Razak has fired a salvo at his former mentor turned nemesis Dr Mahathir Mohamad and other critics of 1MDB without mentioning names.
Speaking at a mosque in Putrajaya after presenting offer letters to 1,100 individuals to perform the haj with 1MDB funds, the prime minister touched on the criticism towards the firm, whose transactions have become the subject of various international investigations and court action.
Najib pointed out that a portion of 1MDB's revenue is used for various initiatives to help the people, which range from housing to education.
In view of this, the prime minister said these efforts should not be ruined based on the assumptions of individuals, whom he described as “tidak boleh pakai sama sekali” (useless).
Meanwhile, Najib also emphasised the importance of imams and village development and safety (JKKK) heads to correct the misconceptions regarding 1MDB at the grassroots level.
“Because of this, when people criticise 1MDB, we as leaders must understand.
“A portion of 1MDB's profits is used for welfare programmes, but this is not mentioned (by the critics),” he was quoted as saying by Bernama.
Najib also said 1MDB's haj sponsorship would continue if the current government remains in power.
“I hope those of you who will be performing the haj will pray for the country and for the current leadership to be maintained to ensure the continuation of this welfare programme,” he added.
Najib said despite the negative remarks of certain quarters, including a former prime minister, 1MDB has managed to sponsor 5,711 haj pilgrims over the past five years at a cost of RM57 million.Mahathir has repeatedly accused Najib of siphoning funds from 1MDB, which the prime minister has denied.
Najib has also been cleared of any wrongdoing by attorney-general Mohamed Apandi Ali.
The prime minister has accused Mahathir and those aligned to him of plotting to topple him from power.
Friday, July 7, 2017
CDF and COA General Tan Sri Aziz Zainal gets jail,but his junior Lt General Datuk Abdul Hadi Bin Haji Hussin gets RM 7 Million stolen from 1MDB
by Ganesh Sahathevan
There seems to be something very odd going on at PM Najib's office.
There seems to be something very odd going on at PM Najib's office.
Readers will recall the jailing of the former Chief Of Army and Chief Of Defence Forces, General Tan Sri Aziz Zainal. Readers will also recall that this writer said then that the jailing will costs voters. To clarify ,this was meant to mean that the defence force votes, assumed always to be another Sabah and Sarawal like "fixed deposit", was in danger of being lost , in fact may already be lost given the loyalty that subordinates have for chiefs present and past.
Meanwhile, it has now been disclosed by Sarawak Report that Aziz Zainal's junior , Lt General Datuk Abdul Hadi Bin Haji Hussin,the then Director Of Military Intelligence was in 2013 given some RM 7 Million of stolen 1MDB money by their Prime Minister ((and sometimes minister) Najib Razak:
Meanwhile, it has now been disclosed by Sarawak Report that Aziz Zainal's junior , Lt General Datuk Abdul Hadi Bin Haji Hussin,the then Director Of Military Intelligence was in 2013 given some RM 7 Million of stolen 1MDB money by their Prime Minister ((and sometimes minister) Najib Razak:
Director General of Military Intelligence!
There are other names and companies on the list, but one in particular stands out. On 8th of April 2013 Najib Razak paid a check to ‘Ketua Pengarah Perisikan Pertahanan’ (DPPP), for a handsome RM7 million.
Perhaps Lt General Datuk Abdul Hadi Bin Haji Hussin, who occupies the role, could explain why this service was receiving a personal cheque from the Prime Minister (paid out of 1MDB’s stolen money) just a month before the last election?
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