Archive for August 1st, 2017
1MDB Misses $603 Million Payment to Abu Dhabi Sovereign Wealth Fund
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Tuesday, 1 August 2017
By Elffie Chew
Bloomberg
August 1, 2017
1Malaysia Development Bhd. failed to make a $603 million payment to Abu Dhabi’s sovereign wealth fund as part of a settlement over a debt dispute, according to a person with knowledge of the matter.
International Petroleum Investment Co. is expected to make an announcement in London on Tuesday, said the person who asked not to be identified as the information isn’t public yet.
The obligation, which was due on July 31, is half the amount 1MDB and the Malaysian finance ministry agreed to make to IPIC, with a second payment by the end of 2017. 1MDB and the Ministry of Finance didn’t immediately respond to emails seeking comment on the non-payment. Read the rest of this entry »
Utterly shameful and disgraceful when we should be focused on how to achieve the lost Malaysian dream to be a world-class nation, we are caught in ugly dogfight insulting each other’s lineage and heritage
Posted by Kit in nation building on Tuesday, 1 August 2017
Today is August 1, 2017 – the 30th Day Countdown to the 60th National Day Anniversary to celebrate the nation’s attainment of Merdeka on August 31, 1957.
It is utterly shameful and disgraceful when we should be focused on how to achieve the lost Malaysian dream to be a world-class nation of achievement and excellence in every field of human endeavour, we are instead caught in a ugly dogfight insulting each other’s lineage and heritage.
As if further proof is needed, this is further evidence of how serious things have gone wrong in our six decades of nationhood.
I was in Form III in Batu Pahat High School, and all students were assembled in the school padang to hear the Proclamation of Merdeka read out by the founding Prime Minister, Tunku Abdul Rahman at Merdeka Stadium in Kuala Lumpur, culminating with the chanting of “Merdeka” seven times.
Reading out the Merdeka Proclamation, Tunku Abdul Rahman pledged that the nation “shall be for ever a sovereign democratic and independent State founded upon the principles of liberty and justice and ever seeking the welfare and happiness of its people and the maintenance of a just peace among all nations”.
When the country achieved independent nationhood on August 31, 1957, it heralded the beginning of a new era where all its citizens could dare to dream big dreams to remake the world.
But have we been able to achieve world-class status in every field of human endeavor, whether political, economic, educational, social, environmental or on good governance after sixty years?
Today, we have overnight become a global kleptocracy. Read the rest of this entry »
Height of government irresponsibility and professional negligence not to have legal representation in the US DOJ kleptocratic suits to forfeit US$1.7 billion of 1MDB-linked assets money-laundered from US$4.5 billion through American banks
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Tuesday, 1 August 2017
It is the height of government irresponsibility and professional negligence on the part of the Cabinet and the Attorney-General’s Chambers not to have legal representation in the United States Department of Justice (DOJ) kleptocratic suits to forfeit US$1.7 billion of 1MDB-linked assets in the United States, United Kindom and Switzerland from money-laundering of US$4.5 billion misappropriated from 1MDB.
The answer from the Minister in the Prime Minister’s Department, Datuk Seri Azalina Othman that the Attorney-General’s Chambers has no plans to send lawyers to the US to observe the DOJ’s civil forfeiture suits on 1MDB-linked assets is most shocking indeed.
If the Najib government is consistent, isn’t the Attorney-General’s Chambers seeking an intervention in the US DOJ proceedings to prove that the US DOJ civil forfeiture proceedings are completely misplaced, as both the Malaysian government and the 1MDB had not lost a single sen and that no 1MDB funds had been money-laundered through Americans banks to the tune of US$4.5 billion with US$1.7 billion of 1MDB-linked assets the subject of kleptocratic assets forfeiture proceedings?
Read the rest of this entry »
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