BN VETERANS JOIN DR MAHATHIR IN 1MDB BATTLE
Several
Barisan Nasional (BN) leaders joined Tun Dr Mahathir - See more at:
http://www.themalaysianinsider.com/malaysia/article/bn-veterans-join-dr-mahathir-in-1mdb-battle#sthash.079EQZGk.dpuf
Several
Barisan Nasional (BN) leaders joined Tun Dr Mahathir Mohamad today to speak out against the detention of two men
linked to the former prime minister in a campaign against debt-laden 1Malaysia
Development Berhad (1MDB).
Among them were Umno deputy president Tan Sri Muhyiddin
Yassin, party vice-president Datuk Seri Shafie Apdal, Gua Musang Umno chief
Tengku Razaleigh Hamzah, former Umno secretary-general Tan Sri Sanusi Junid and
former MCA president Tan Sri Ong Tee Keat.
Dr Mahathir is holding a press conference now at the Perdana
Leadership Foundation on the fate of his former aide, lawyer Matthias Chang and
Umno man Datuk Seri Khairuddin Abu Hassan.
Both were charged at the Kuala Lumpur High Court today with
attempting to sabotage Malaysia's economy and the financial and banking system
Source: The Malaysian Insider
MALAYSIAN BANK NEGARA REVOKED 3 PREMISSIONS TO 1MDB EXCHANGE CONTROL?
PETALING JAYA, Malaysia - Bank Negara Malaysia has revoked three
permissions granted to 1Malaysia Development Berhad (1MDB) for investments
abroad worth US$1.83bil (RM7.58bil).
In a statement Friday, the central bank said the permissions
were revoked as the investments were obtained based on inaccurate or incomplete
disclosure of information.
“The Bank at all times expects full and accurate disclosure
of information by applicants in considering any application under the Exchange
Control Act 1953 (ECA).
“On its part, the Bank concluded that permissions required
under the ECA for 1MDB’s investments abroad were obtained based on inaccurate
or without complete disclosure of material information relevant to the Bank’s
assessment of 1MDB’s applications,” said the statement.
The statement added that the Bank has revoked three
permissions granted to 1MDB under the ECA for investments abroad totalling
US$183bil.
It also issued a directive under the Financial Services Act
2013 to 1MDB to return the US$1.83bil to Malaysia and submit a plan to the Bank
for this purpose.
The statement also said that the bank would extend its full
cooperation to ongoing investigations.
On Thursday, the Attorney-General’s Chambers (AGC) cleared
1MDB of any wrongdoing in relation to an investigation initiated by Bank Negara
into its investments overseas.
Bank Negara said the Attorney-General’s decision with
respect to the investigations on 1MDB related to its recommendation to initiate
criminal prosecution against 1MDB for breaches under
the Exchange Control Act 1953 (ECA).
the Exchange Control Act 1953 (ECA).
The Star
SWISS FREEZE MILLIONS IN BANK ACCOUNTS LINKED TO 1MDB
Swiss authorities said today they had frozen funds in Swiss
banks amid a probe into people linked to Malaysia's troubled state investment
fund, 1Malaysia Development Berhad (1MDB), on suspicion of corruption and money
laundering.
"The Office of the Attorney-General of Switzerland
(OAG) has frozen assets amounting to several tens of millions of US dollars on
Swiss bank accounts," an OAG spokesman said by email in response to an
enquiry.
"At this early stage of the procedure, the OAG is
analysing and consolidating evidence. The OAG is already in contact with the
Malaysian authorities.
International cooperation with foreign countries, in
particular with Malaysia, will probably be necessary to establish the
facts," she said.
International cooperation with foreign countries, in
particular with Malaysia, will probably be necessary to establish the
facts," she said.
1MDB later released a satement saying "as far as 1MDB
is aware, none of the company's bank accounts has been frozen".
- It added that 1MDB was in the process of developing a better understanding of the ongoing investigations in Switzerland so the company could cooperate to its fullest extent.
Source:– Reuters
MALAYSIAN PM SEEKS SECOND OPINION ON WSJ
KUALA LUMPUR, Malaysia - Prime Minister Datuk Seri Najib Tun Razak has sought a second opinion before initiating legal action against the
Wall Street Journal over its 1Malaysia Development Bhd articles.
His lawyer Datuk Mohd Hafarizam Harun said this was in light
of the Malaysian Anti-Corruption Commission’s statement which contradicts the
publisher’s suggestion the money came from 1MDB’s coffers.
On Monday, the MACC issued a statement that some RM2.6bil
had been found in Najib’s private bank accounts but clarified it was from
donations.
The firm had sent a letter of clarification to WSJ for an
explanation over its July 2 article accusing Najib of transferring 1MDB funds
into his personal accounts.
Dow Jones & Company, the publisher of the US-based
newspaper, merely said the contents of the article was “self
explanatory”.
- “The publishers had studiously avoided admitting their article accused that the money comes from 1MDB,” he said at the Duta Court Complex yesterday. Mohd Hafarizam said Najib was considering consulting a Queen’s counsel or an American lawyer as the matter had issues of international jurisdiction.
- Although no deadline was set, he declined to confirm the course of legal action being considered.
- “We are not ruling out the possibility of filing a suit, but we’re keeping our options open at this point,” said Mohd Hafarizam.
Source: The Star
ALL EYES ON BANKS RESPONSE TO ALLEGATIONS AGAINST MALAYSIAN PM?
KUALA LUMPUR, Malaysia - Attention has turned to Malaysia's
central bank and a domestic bank to confirm or deny that large sums of cash
were wired to Malaysian Prime Minister Najib Razak's personal accounts.
This followed claims in a Wall Street Journal (WSJ) report
last Friday that Datuk Seri Najib received up to US$700 million (S$940 million)
in various personal accounts in AmBank between March 2013 and February this
year.
Malaysia's central bank, Bank Negara, a well-regarded
regulator in international banking circles, would normally be alerted to large
transfers in domestic accounts, especially ones such as the alleged deposit via
a Singapore-based Swiss bank of US$620 million in March 2013.
AmBank is Malaysia's fifth-biggest bank by assets.
Umno's Kuala Lumpur lawmaker Johari Abdul Ghani told the
Mingguan Malaysia newspaper yesterday.
"If the two banks remain silent, it will not reduce public perception (of wrongdoing)", he said.
"If the two banks remain silent, it will not reduce public perception (of wrongdoing)", he said.
Source: Asia One
MALAYSIAN RINGGIT COULD PLUNGE TO 1988 IF 1MDB DEBT UNPAID?
KUALA LUMPUR, Malaysia — Malaysia must resolve 1Malaysia
Development’s (1MDB) debt issue or risk a negative chain of events, including a
possible downgrade to the country’s credit outlook or a plunge in value of the
ringgit, Datuk Seri Ahmad Husni Hanadzlah warned today.
Explaining this, the second finance minister said if
Putrajaya is forced to shoulder the 1MDB debt of RM42 billion on top of its
development expenditure of RM52 billion for next year, it would cause the
government to fail to meet its targeted Budget 2015 deficit of 3.2 per cent and
revert to over 4 per cent instead, he said.- “What will happen? Our ratings will drop, when our ratings drop, our companies borrow from abroad, our currency value will drop like in 1998 then, when our ringgit at one point was over RM4, how to pay debts?
- “In our context, the main thing is we must solve the issue of debt so the people do not have to worry,” he said in a live interview broadcasted by national television channel TV1.
- During the 1997-1998 Asian financial crisis, the Malaysian currency dipped in value and at one point went over the RM4 mark in exchange rates against the US dollar.
- In March, Putrajaya said it is accountable for a US$3 billion (RM11.1 billion) loan secured by a 1MDB subsidiary using a letter of support from the Malaysian government.
- Last month, Moody’s Investors Services said government support of 1MDB could jeopardise Malaysia’s sovereign credit rating.
Today, Husni also insisted that the rationalisation of
1MDB’s assets is not meant to “save” it or the government, but is instead a “restructuring”
exercise with the aim of paring down its debt.
He also said his key concern was Malaysians, citing the
chain of negative effects that would happen if 1MDB’s debt had to be
passed on to the government.
passed on to the government.
Source: The Malay Mail
MALAYSIA MAHATHIR SAYS 1MDB FUND VANISH, DEMANDS PM RESIGN
KUALA LUMPUR - Malaysian former Prime Minister Mahathir
Mohamad on Thursday launched the fiercest yet in a series of attacks on the
country's prime minister, demanding he account for the disappearance of billions
of dollars borrowed by state fund 1MDB, or resign.
"It is this disappearance of a huge amount of borrowed
money by 1MDB and the inability to answer questions regarding what happened to
the funds that disqualifies Najib from being prime minister of Malaysia,"
the 89-year-old wrote in his blog.Najib Razak chairs the advisory board of 1Malaysia Development Berhad (1MDB), a power plant and property fund whose 42 billion ringgit ($11.58 billion) debt has weighed on Malaysia's sovereign rating and the ringgit in recent months.
However, the prime minister has ordered an audit of 1MDB's accounts by the country's Auditor General.
Source: AsiaOne
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