Archive for category Corruption
By SIMON CLARK, GEORGI KANTCHEV and BRADLEY HOPE
Wall Street Journal
May 19, 2016
Investigators believe that money from the Malaysian fund was used to buy home in 2012
The stepson of Malaysian Prime Minister Najib Razak bought a £23.25 million ($33.6 million) house in central London in 2012 with money originating from the troubled Malaysian state investment fund 1Malaysia Development Bhd., according to people familiar with the situation.
The redbrick four-story house, built around 1900, is part of a row set back from the road and protected by security gates, a short walk from Malaysia’s diplomatic mission in London’s exclusive Belgravia neighborhood. The registered owner of the house is Qentas Holdings Ltd., a company based in the British Virgin Islands. Mr. Najib’s stepson is the beneficial owner, the people familiar said.
Investigators believe that money from the Malaysian fund known as 1MDB was used to buy the house in July 2012. The Wall Street Journal has previously reported that Riza Aziz, a film producer and stepson of the Malaysian leader, used money that originated from 1MDB to buy $50 million worth of properties in New York and Los Angeles and to finance the 2013 movie “The Wolf of Wall Street.” Read the rest of this entry »
Azalina has committed double contempt of Parliament when she defended her lie in Parliament in her reply to Guan Eng on the PAC Report on 1MDB
The Minister in the Prime Minister’s Department, Datuk Azalina Othman had committed a double contempt of Parliament when she defended her lie in Parliament in her reply to DAP MP for Bagan, Lim Guan Eng, claiming that Public Accounts Committee (PAC) members were informed about the deleted lines from the PAC Report on 1MDB.
In her written reply on Monday, Azalina had lied that PAC Chairman Datuk Hasan Arifin had informed or showed PAC members letter from Bank Negara Malaysia which stated that the information provided to the PAC was confidential for the purpose of intelligence only and not for court usage or public consumption.
DAP MP for PJ Utara, Tony Pua, who is a PAC Member has described Azalina’s answer as a lie, making very clear that after the the final PAC meeting on April 4 which approved the PAC report on 1MDB for publication, Hasan “never at any point of time communicated with the PAC members on any developments subsequent to the meeting on April 4”.
I have spoken to the Deputy Chairman of PAC, Dr. Tan Seng Giaw (MP – Kepong) and he has confirmed that what Pua said was true and factual, and that PAC members were never informed about Bank Negara’s letter before PAC Report on 1MDB was tabled in Parliament on April 7, and that Azalina had told a lie in Parliament.
Thus, when Azalina yesterday denied that she lied to Parliament when she said PAC members had been informed about the deleted lines in the PAC report on 1MDB, and that Pua’s statement was untrue and made without any basis, Azalina had committed a double contempt of Parliament. Read the rest of this entry »
Would Azalina refer herself to the Committee of Privileges for lying in Parliament or would there be an Acting Minister in the PM’s Department appointed to be in charge of parliamentary affairs to refer Azalina to Committee of Privileges?
Would the Minister in the Prime Minister’s Department, Datuk Azalina Othman Said refer herself to the Parliamentary Committee of Privileges for lying in Parliament, or would there be an Acting Minister in the Prime Minister’s Department appointed to be in charge of parliamentary affairs to refer Azalina to the Committee of Privileges?
Public Accounts Committee (PAC) member and DAP MP for PJ Utara, Tony Pua has made a very serious charge that Azalina had lied in replying to the DAP MP for Bagan Lim Guan Eng that PAC members were informed about the deleted lines from the PAC Report on 1MDB.
Pua said Azalina lied in Parliament when she said in her parliamentary reply on Monday that the PAC Chairman Datuk Hasan Arifin had informed or showed PAC members letter from Bank Negara Malaysia which stated that the information provided to the PAC was confidential and not for public consumption.
Azalina had replied to Guan Eng that Hasan had received Bank Negara’s information which stated all the information given was “confidential for the purpose of intelligence only and not for court usage or public report” and that all PAC members were informed of the matter via a letter penned by the PAC chief to the deputy governor of the central bank on April 6.
I have received confirmation from the Deputy Chairman of PAC, Dr. Tan Seng Giaw (Kepong) that PAC members were never informed about the matter by the PAC Chairman on April 6 and that Azalina had told a lie in Parliament. Read the rest of this entry »
The Prime Minister, Datuk Seri Najib Razak has said that he would reshuffle his Cabinet.
Instead of reshuffling his jumbo-sized Cabinet of 36 Ministers, he should do some pruning and remove his Cabinet of deadwood and half-past six Ministers, starting with Najib himself relinquishing the Finance Minister’s portfolio and more than halving the number of Ministers in the Prime Minister’s Department who now comprise some 30 per cent of the Cabinet.
How many of the 36 Ministers were in Parliament yesterday to pay last respects to two BN/UMNO Members of Parliament, Sungai Besar MP Datuk Noriah Kasnon who was Deputy Minister of Plantation Industries and Commodities and Kuala Kangsar MP Datuk Wan Mohammad Khair-jl Anuar Wan Ahmad, who was also the Malaysian Palm Oil Board Chairman, in the minute of silence observed at the beginning of Parliament?
The first row of the first block in Parliament headed by the Prime Minister, Datuk Seri Najib Razak, Deputy Prime Minister, Datuk Seri Zahid Hamidi, the Transport Minister Datuk Seri Liow Tiong Lai and the Health Minister Datuk S. Subramaniam was totally empty while the first block was virtually empty!
Why were some 90 per cent of the jumbo-sized Cabinet absent in Parliament yesterday to pay the one-minute last respect to Noriah and Wan Mohammad Khairil?
There have been some myths about the impending Sungai Besar and Kuala Kangsar parliamentary by-elections, with nomination fixed for June 5 and polling on June 18. Read the rest of this entry »
Four ways for Najib and Parliament to redeem their abject failure to ensure responsibility and accountability for first global financial scandal in nation’s history
I have visited 130 parliamentary constituencies in the country in my nation-wide “Pantang Undur – Berani kerana Benar” nation-wide tour during my six-month suspension from Parliament in October last year.
Only three days ago, I visited Kuala Terengganu, Marang, Setiu and Besut in Terengganu and Pasir Puteh in Kelantan.
Wherever I went in the 130 Parliamentary constituencies in the past six months, Malaysians regardless of race, religion or region want the Prime Minister, Datuk Seri Najib Razal to answer the two simple questions about his global financial scandal – where the money came from and where the money had gone to! Read the rest of this entry »
I have visited 130 parliamentary constituencies during my six-month suspension from Parliament and all Malaysians, regardless of race, religion or region want Najib to answer two simple questions about Najib’s global financial scandal – where the money came from and where the money had gone to!
This morning, I want to report to the voters of Gelang Patah that I have visited 130 parliamentary constituencies in the country during my six-month suspension from Parliament and I will return to Parliament tomorrow.
Only two days ago, I visited Kuala Terengganu, Marang, Setiu and Besut in Terengganu and Pasir Puteh in Kelantan.
Wherever I went in the 130 Parliamentary constituencies in the past six months, Malaysians regardless of race, religion or region want Najib to answer the two simple questions about his global financial scandal – where the money came from and where the money had gone to!
I apologise to the people of Gelang Patah for being suspended for six months from Parliament, not because I had stolen, robbed, murdered or guilty of corruption, but because I had wanted the Prime Minister to answer two simple questions about his global financial scandals – Where the money came from and where the money have gone to.
Six months later, Najib has not been able to answer these two simple questions, but his twin mega scandals have continue to mushroom to become ever more monstrous, with Malaysia topping the global charts as among the most corrupt nations in the world like the third place in international website, foreignpolicy.com’s ranking of the world’s “worst corruption scandal in 2015” at the end of last year, TIME magazine’s second ranking of “global corruption” in March or the Economist’s second placing in its second index of crony capitalism early this month.
Six months ago, we were talking about Najib’s RM2.6 billion “donation” scandal and the RM42 billion 1MDB scandal – today, we are talking about Najib’s RM4.2 billion “donation” scandal and the RM50-55 billion 1MDB scandal! Read the rest of this entry »
Why is Najib absconding to UK next week when he should be in Parliament to give full and satisfactory accounting on the exploding 1MDB global financial scandal?
It has been reported that the Prime Minister, Datuk Seri Najib Razak will be making a “working visit” to the United Kingdom from Sunday to May 18 to promote investment between the two countries.
It would appear that Najib’s overseas itinerary had been planned to enable him to avoid parliamentary responsibility and accountability with Parliament scheduled to reconvene on Monday.
Why is Najib absconding to UK when he should be in Parliament to give full and satisfactory accounting on the exploding 1MDB global financial scandal?
Why is Najib going away from the country when he should have given top priority to his attendance of Parliament among all his Prime Ministerial duties especially with the 1MDB scandal assuming such an explosive dimension? Read the rest of this entry »
Challenge of Pakatan Harapan is to convince all voters that the victims of the RM50 billion 1MDB scandal are the 30 million Malaysians as corruption is not a victimless crime
The challenge of Pakatan Harapan is to convince all voters that the victims of the RM50 billion 1MDB scandal are the 30 million Malaysians as corruption is not a victimless crime.
In normal crimes like theft, robbery or murder, it is easy to know the victims but corruption seems to be a remote and distant matter of little or no concern to the public, especially as there appears to be no victims.
This is however the greatest fallacy of all – that corruption is a victimless crime. Read the rest of this entry »
Terengganu is a peculiar state where Opposition Assemblymen help to prop up the UMNO Mentri Besar to defeat a no-confidence motion in the State Assembly from an UMNO Assemblyman
Marang is the 127th parliamentary constituency I am visiting since my six-month suspension from Parliament for wanting the Prime Minister, Datuk Seri Najib Razak to answer two simple questions about the twin global corruption scandals which had been haunting and hounding him for over a year – where the astronomical sums of money running into billions of ringgit in the twin mega scandals come from and where the monies have gone to.
I am returning to Parliament on Monday but these two simple questions about Najib’s RM50 billion 1MDB scandal and RM4.2 billion “donation” scandals are as elusive as ever, although the twin mega scandals have merged into one gargantuan global scandal spanning over a dozen countries.
The Global Anti-Corruption Summit in London yesterday has among its objeectives to:
* expose corruption so there is nowhere to hide;
* punish the perpetrators and support those affected by corruption; and
* drive out the culture of corruption wherever it exists.
Will Najib as Prime Minister of Malaysia declare full support for these three objectives of the Global Anti-Corruption Summit in London, or is the Malaysian Government terribly frightened of these triple goals. Read the rest of this entry »
Four parliamentary measures to redeem national honour and reputation in the handling of Malaysia’s first global scandal – RM50 billion 1MDB scandal
Kuala Terengganu is the 126th parliamentary constituency that I am visiting in my “Pantang Undur – Berani Kerana Benar” nation-wide tour since my six-month suspension from Parliament in October last year for demanding two simple answers from the Prime Minister, Datuk Seri Najib Razak with regard to this twin mega scandals which have put Malaysia among the top 10 countries infamous for global corruption – where the monies for the RM50 billion 1MDB and RM4.2 billion “donation” scandals came from and where the monies have gone to.
I will return to Parliament when it reconvenes on Monday 16th May, but six months after my suspension from Parliament, the two questions of “Where the monies came from and where the monies have gone to” have still to be answered, and have writ even larger, with major developments in Najib’s twin mega financial scandals confirming Malaysia as home to one of the great global corruptions of the time.
In fact, never before had Malaysia seen a local scandal taken such global dimension as to be almost in frequent international limelight, sometimes for days at a stretch, in the past year or more, and if anyone googles “1MDB scandal”, there would be more than half a million returns!
This is not to the credit or honour of Malaysia – but to our great national shame and humiliation. Read the rest of this entry »
By BRADLEY HOPE and TOM WRIGHT
Wall Street Journal
May 11, 2016
At least $50 million allegedly diverted from state investment fund was spent on luxury real estate in the U.S.
At least $50 million allegedly diverted from a state investment fund in Malaysia was spent on luxury properties in New York and Los Angeles by the stepson of the Malaysian prime minister, according to documents reviewed by The Wall Street Journal and people familiar with the matter.
Riza Aziz, a film producer and stepson of Malaysian leader Najib Razak, used money that originated from the 1Malaysia Development Bhd. fund to acquire a 7,700-square-foot, $33.5 million duplex in the Park Laurel condominium tower overlooking New York’s Central Park, the documents and people said.
Mr. Aziz also used money originating from 1MDB to buy an 11,000-square-foot walled mansion in Beverly Hills with a 120-foot-long pool for more than $17.5 million, the documents and people said.
The financing of those acquisitions is under investigation by the Federal Bureau of Investigation, which is conducting a wide-ranging inquiry into alleged misappropriation of billions of dollars from 1MDB, according to people familiar with the probe. 1MDB was set up in 2009 to benefit the Malaysian people. Read the rest of this entry »
The victims of RM50 billion 1MDB scandal are the 30 million Malaysians as “corruption is not a victimless crime”
Malaysia and the Malaysian Prime Minister, Datuk Seri Najib Razak should be playing a leading role in the historic Anti-Corruption Summit in London today hosted by the United Kingdom Government, as this is the second important global anti-corruption conference held after the 16th International Anti-Corruption Conference (IACC) in Putrajaya last September with the theme of “Ending Impunity: People, Integrity and Action”.
Unfortunately Najib dodged and ducked the 16th IACC which was supposed to be the high-water mark of his six-year anti-corruption campaign and show-case him as one of the exemplary global leaders spearheading a transformation programme with anti-corruption as one of its core objectives.
When Najib’s keynote address for the conference hosted by the Malaysian government was cancelled at the last-minute, and Najib’s photograph and biography quietly and ignominiously removed from the conference website, the 30 million Malaysians had to endure a humiliating opening speech delivered by Transparency International Chair José Ugaz who told about 1,000 delegates from all over the world that the measures taken by the Najib government in connection with the 1MDB financial scandal “are not the actions of a government that is fighting corruption.”
Jose Ugaz said: “No one can be in Malaysia and not be aware of the corruption allegations of recent months and how damaging they are to the country. There is a corruption crisis here.
“We want to see more progress but that cannot happen while there are unanswered questions about the $700m that made its way into the prime minister’s personal bank account.
“There are two questions that need to be answered: Who paid the money and why? Where did it go?
“One man could answer those questions.”
Eight month forward, these two simple questions about Najib’s RM50 billion 1MDB and RM4.2 billion “donation” twin mega scandals (only cited as RM42 billion and RM2.6 billion respectively during the 16th ICAC) are not only no nearer to answer, but have been swarmed by more serious issues about integrity, accountability and good governance. Read the rest of this entry »
Call to Najib to present White Paper on 1MDB in next week’s Parliament and to set aside three days for debate on it, as well as PAC Report on 1MDB
The Prime Minister, Datuk Seri Najib Razak said yesterday a failed initial public offering (IPO) exercise, as a result of being “attacked”, was the main reason why 1Malaysia Development Bhd (1MDB) encountered problems.
He said 1MDB used the debt funding approach to operate its business, which required an IPO to be undertaken in the shortest possible time. The authorities did not foresee that 1MDB would come under relentless “attacks”, which resulted in the IPO exercise could not be carried out, hence the cashflow problems.
Was this the real reason why 1MDB had exploded to become the nation’s first global financial scandal, keeping the nation constantly in the international limelight for massive transborder financial frauds, irregularities and money-laundering?
Or was the Economic Planning Minister, Datuk Sri Abdul Wahid Omar more to the point when he admitted last month that 1MDB model of low capitalization and huge borrowings was unsustainable from the very start.
What was the “original sin” of the 1MDB global financial scandal – the IPO failure, the unsustainable model of low capitalization and huge borrowings or something more fundamental, conceived right from the beginning as a mega global scam that has triggered investigations by several countries on international embezzlement and money-laundering to the tune of some USD11 billion stretching from Singapore to the United States? Read the rest of this entry »
Tan Siok Choo
The Sun Daily
20 April 2016
“CURIOUSER and curiouser,” said Alice as she grew to more than nine feet high in Lewis Carroll’s fabled novel Alice’s Adventures in Wonderland.
This is the likely response of non-partisan readers of often contradictory articles about 1Malaysia Development Berhad (IMDB), the report by the Public Accounts Committee (PAC) and strongly-worded statements by Abu Dhabi’s sovereign wealth fund, International Petroleum Investment Company (IPIC).
In a joint announcement on April 11, IPIC and its subsidiary Aabar Investments PJS (Aabar) categorically denied Aabar Investments PJS Ltd, established in the British Virgin Islands (Aabar BVI), is “an entity within either corporate group”. Both IPIC and Aabar also said they had received no payments from Aabar BVI.
In response, 1MDB said it was “curious” IPIC and Aabar had waited “until April 2016” to issue a denial and was surprised “neither IPIC nor Aabar has knowledge of, nor has benefited from, payments made by IMDB to Aabar BVI.”
Under a debt-asset swap agreement on May 28, 2015 involving Aabar, Malaysia’s Ministry of Finance (MOF) and 1MDB, IPIC agreed to:
» provide US$1 billion to enable 1MDB to settle its liabilities;
» pay interest on the US$3.5 billion bonds;
» repay the US$3.5 billion bond; and
» forgive certain 1MDB debts.
In return, 1MDB would transfer to IPIC by June 30, 2016 assets with an aggregate value of all the sums paid by IPIC.
DAP MP Tony Pua says the value of assets 1MDB must transfer to IPIC total US$4.7 billion – US$1 billion to settle 1MDB’s liabilities, US$3.5 billion for the 2012 bonds and up to US$200 million in interest payments. Read the rest of this entry »
Najib has gained no respite for Malaysia or for himself on the 1MDB global scandal despite the landslide Barisan Nasional victory in Sarawak state general elections on Saturday
JP Morgan Asia’s downgrade of Malaysia’s status to underweight is the latest bad news for Malaysia and potent testimony that the Prime Minister, Datuk Seri Najib Razak has gained no respite for Malaysia or for himself on the 1MDB global scandal despite the landslide Barisan Nasional victory in Sarawak state general election on Saturday.
The equity research team cited concern about Malaysian banks, which also account for about 30 percent of the iShares MSCI Malaysia ETF (EWM), as one of the main reasons for the downgrade.
It said: “Negative outlook on financials driven by increasing credit costs due to declining loan and deposit growth. Banks are grappling with rising non-performing loans (expected to peak at 3.1 percent in 2018).”
The iShares MSCI Malaysia ETF had fallen 7.7 percent in the second quarter, which makes it the second worst performing market in Asia after Taiwan.
In the past fortnight, while Najib has led the campaign in the Sarawak state elections to rain money throughout the state, Malaysia has not ceased to be at the receiving end of adverse international developments and references, like being named number two by The Economist in its second index of crony capitalism, just behind Russia which clinched the crony capitalism crown. Read the rest of this entry »
May 10, 2016
As Malaysia’s state-owned investment company reaches out to bondholders to explain why it has defaulted, some investors say they can’t wait to hear the end of the saga.
1Malaysia Development Bhd., which defaulted on dollar-denominated bonds last month and faces another coupon payment Wednesday, said it plans a call on May 23 to explain its dispute with a co-guarantor and how it plans to meet future obligations. Returns on debt from Malaysian issuers have cooled amid probes into financial irregularities at 1MDB, whose advisory board has been headed by Prime Minister Najib Razak.
“The political situation in Malaysia continues to be one of the biggest, I would say, hurdles for foreign investors,” said Arthur Lau, co-head of emerging-market fixed income in Hong Kong at PineBridge Investments, which manages about $83 billion globally. “In terms of fundamentals everything points to be quite O.K., especially now with oil prices rebounding. The only one thing that really drags is the political noise.”
The ringgit has slumped 2.8 percent this quarter, turning to Asia’s worst performer from its best in the first quarter. The cost of insuring the nation’s sovereign debt against default has risen 10 basis points since March 31 to 163. Malaysia’s corporate dollar bonds returned 1.1 percent in the period, slipping to seventh place from third place in the first three months, based on Bank of America Merrill Lynch indexes. Read the rest of this entry »
Great Sarawak Debates on 1MDB and email to PM Najib for me to appear before Cabinet meeting in Kuching on Wednesday to present case why Cabinet must take a stand on the 1MDB scandal
I have yesterday emailed the Prime Minister, Datuk Seri Najib Razak, for me to appear before the Cabinet meeting in Kuching tomorrow to present the case why the Cabinet must take a stand on the RM50 billion 1MDB scandal.
I will give a briefing of the public feedback I have received from 121 parliamentary constituencies I had visited since my six-month suspension from Parliament because of my insistence that Najib should give full accountability for the RM50 billion 1MDB and the RM4.2 billion ‘donation’ twin financial scandals.
I await for Najib’s reply and although I will be going to Song and Kanowit from Pelagus and Kapit, I am prepared to rush down to Kuching to appear before the Cabinet tomorrow because of the critical importance of the 1MDB scandal not only to the economic development of Malaysia but for Sarawak as well.
The situation for the 1MDB is getting more and more grim and storm signals are going off all over the world that the end-game for Malaysia’s first global financial scandal may not be far off.
Bleak and pessimistic analysis appearing about the fate of the 1MDB scandal, to the extent that one article on the 1MDB today is entitled “Game over 1MDB and Najib?”
The problem is that even if the answer is “yes” to the the article “Game over 1MDB and Najib?”, it is not 1MDB or Najib who will pay for the RM50 billion debts of 1MDB, but the 30 million people of Malaysia including 2.6 million Sarawakians who will have to pay this garganrtuan bill – including their children and children’s children. Read the rest of this entry »
Request to PM Najib for me to appear before Cabinet meeting in Kuching on Wednesday to present case why Cabinet must take a stand on the 1MDB scandal and to give a briefing of my visit to 120 Parliamentary constituencies in six months
I am writing to the Prime Minister, Datuk Seri Najib Razak, to appear before the Cabinet meeting in Kuching on Wednesday to present the case why the Cabinet must take a stand on the RM50 billion 1MDB scandal.
There are at least eight recent developments which make a Cabinet stand on the 1MDB scandal urgent and imperative, viz:
1. The acceptance of the resignation of the 1MDB Board of Directors who have been found to have failed to exercise diligently their fiduciary duties to protect the interest of the shareholders by reining in a rogue management.
2. The acceptance of the recommendation by the Public Accounts Committee (PAC) for the Board of Advisors chaired by Dato’ Seri Najib Razak to be dissolved with immediate effect.
3. The acceptance of the recommendation by the PAC for Article 117 of 1MDB’s Memorandum and Articles of Association which provides for the ultimate decision-making authority to be placed in the hands of the Prime Minister be abolished. Read the rest of this entry »
The only way Arul can earn some sympathy from the Malaysian public is for him to come clean and own up to all the frauds in the biggest global scam in Malaysian history – including those committed before his time
The only way for Arul Kanda Kandasamy to earn some sympathy from the Malaysian public is for him to come clean to own up to all the frauds in the biggest global scam in Malaysian history – the RM50 billion 1MDB scandal – including those committed before his time.
It is just not good enough for the 1MDB president to canvas the possibilities of “massive fraud” and “collaboration from our side” over the US$3.5 billion worth of payments made to the “fake” Aabar BVI, when the international news media and whistle-blower website Sarawak Report had been detailing such “massive frauds” and “collaboration” for almost the past year.
Didn’t Arul take the most elementary measures to check on the veracity of these very detailed reports in the international media and Sarawak Report?
Even more important and relevant, why did he defend the integrity and good governance practices of 1MDB in these these cases of “massive frauds” and “collaboration”?
Nor can Arul exonerate himself from being complicit in Malaysia’s mega scam by just washing his hands and quitting his MDB post, protesting that the issues and scandals at the 1MDB scam were not his and “not what I signed up for”. Read the rest of this entry »
Two days ago, I posed five questions to the “alpha and omega” of Malaysia’s first global financial scandal, Penang-born billionaire Jho Low, but as expected, no answer had been forthcoming.
In the past 48 hours, there had been more world-wide developments in Malaysia’s first global financial scandal, a salutary reminder that in the borderless world of 24/7 era of information, where information travels at the speed of light, it is no more possible for one country to sweep scandals under the carpet, especially when the financial scandal is of global reach and dimension like the RM50 billion 1MDB scandal.
In Malaysia, Prime Minister Datuk Seri Najib Razak can try to impose a total clamp on all investigations and information about the 1MDB scandal, and even virtually ban discussion on the subject in the highest legislative and political chamber in the land, Parliament, but what is the purpose of such puny national efforts at censorship when the global community and some ten countries are conducting separate investigations related to the 1MDB scandal?
Malaysia’s 1MDB scandal has been described by the influential financial weekly, the Economist, as “an important test of how the world deals with cross-border corruption”, especially after the leaking of the Panama papers – after describing investigations within Malaysia as have been “timid or stymied”.
Such adverse international commentary on the 1MDB scandal a fortnight after the tabling of the Public Accounts Committee (PAC) Report on 1MDB to Parliament vindicated what I had said right from the beginning – that Najib was wrong in regarding the PAC Report as a “comprehensive, conclusive and definitive report” on 1MDB when it was only the first step to reveal and unveil the full “horrors” of Malaysia’s first global financial scandal. Read the rest of this entry »