Further US$330 million went straight to Jho Low’s Good Star Limited from 1MDB

Further USD$330 million Went Straight To Jho Low’s Good Star Limited From 1MDB! NEW EXCLUSIVE

 NEW EXCLUSIVE from Sarawak Report

Investing in growth or siphoning out Malaysia's borrowed money?

New documents obtained by Sarawak Report show that in 2011 the company Good Star Limited, which is controlled by the businessman friend of the Finance Minister, Jho Low, received the entirety of a further USD$330 million ‘loan’ that had been authorised by the development fund 1MDB, supposedly in favour of its former joint venture partner PetroSaudi International.

Good Star Limited is based in the Seychelles, but incorporated in the Cayman Islands and it has a bank account in Zurich. A signatory is Seet Li Lin, who is Jho Low’s deputy.

Jho Low has repeatedly maintained that he has held no role in 1MDB and made no profit from its investment dealings.

Good Star - recipient of USD$330 million from 1MDB

Yet, Sarawak Report has already revealed that PetroSaudi Directors had agreed to “act as front” for Jho Low and that out of a total of USD1.5 billion already invested in PetroSaudi  between Sept 2009 and Sept 2010, $860 million had been secretly siphoned into Good Star’s RBS Coutts account in Zurich.

Good Star's Zurich account

Now, official investigators have ascertained that a further USD$330 million, which 1MDB had sought approval to lend to PetroSaudi in May 2011, also all went straight to Good Star Limited instead.

This money had been funded by “ringgit borrowing from offshore banks and the balance of the Sukuk Murabaha proceeds” said official investigators, reporting earlier this month to Malaysia’s regulatory authorities. Continue reading

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Dr M trains guns on Najib’s daughter’s wedding, highlights extravagance

Mahathir claimed Najib daughter's wedding was so extravagant that even he could not afford to organise such weddings for his own four children when he was in office. — Picture by Saw Siow FengMahathir claimed Najib daughter’s wedding was so extravagant that even he could not afford to organise such weddings for his own four children when he was in office. — Picture by Saw Siow Feng


KUALA LUMPUR, April 25 — After taking a swipe on  Datuk Seri Najib Razak and his wife’s lavish lifestyle, Tun Dr Mahathir Mohamad today directed his attacks on the prime minister’s daughter’s wedding in a move apparently aimed at highlighting the former’s questionable wealth.

The former prime minister said the wedding was organised with such extravagance that it could be labeled as “the wedding of the century”, noting that even he could not afford to organise such weddings for his four children when he was in office.

“When his daughter got married, look at the wedding.

“Wow. It was like a wedding of the century.

“Not the wedding of the year, but the wedding of the century,” he told a packed townhall meeting held here.

“When my four children got married, did anyone know? No. You didn’t even hear of it,” he added.

Dr Mahathir also claimed that Najib brought with him 300 people to his daughter’s wedding in Kazakhstan and demanded the latter explain who helped finance the trip.

“300 people. That’s a lot. Can you imagine 300 people was taken with him to the trip to Kazakhstan. Who are this 300 people?” Continue reading

Posted in Dr Mahathir Mohamad, Najib Abdul Razak | Leave a comment

Woman strips off in Petaling Street to avoid paying for chicken rice

A woman stripped after being confronted by a chicken rice seller who demanded payment at Petaling Street, Kuala Lumpur, April 24, 2015. — YouTube videograbA Woman stripped after being confronted by a chicken rice seller who demanded payment at Petaling Street, Kuala Lumpur, April 24, 2015. — YouTube videograb

KUALA LUMPUR, April 24 — A woman yesterday removed her clothing in the centre of the Petaling Street tourist hotspot here in a reported bid to avoid a RM18 bill for her meal.

According to The Star, the woman and her male companion – both believed to be foreigners – ate two plates of chicken rice before attempting to leave without paying.

“When the restaurant operator tried to stop her, she denied having eaten there,” a neighbour to the restaurant, identified only as Wong, told the newspaper.

“However, she was shown a CCTV recording of her eating in the restaurant, so she started stripping to avoid paying,” the jewellery stall operator was quoted saying.

Citing eyewitnesses, The Star said the woman’s male companion and the restaurant operator engaged in a scuffle, but the two foreigners ran off when policemen arrived. Continue reading

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Two brothers contradict each other at investment forum


By FMT Reporters

KUALA LUMPUR: Two brothers appeared to contradict each other at the Invest Malaysia 2015 forum held here yesterday.

While Prime Minister Najib Razak sought to draw attention to the positive performance of Malaysia’s economy during his tenure, his own brother, CIMB Bank Berhad CEO Nazir Razak called for the “elephant in the room to be put behind us”.

Nazir was alluding to the absence of 1Malaysia Development Berhad (1MDB) at the annual meeting which saw the presence of key members of the administration, government-linked companies and major funds.

According to Nazir, 1MDB was invited to speak but had declined the offer.

Lamenting their absence Nazir said, “This is the biggest investor programme. All major government investment companies are here and so are the key people in the capital markets.”

“We felt that this was a good platform for them to answer questions. When issues are not cleared up, people tend to expect the worse,” he added, as reported by The Star. Continue reading

Posted in Economy, Najib Abdul Razak | Leave a comment

PM, wife’s lavish lifetsyle – Tempo stands by article

Indonesia’s premier current affairs magazine Tempo is standing by their article on Prime Minister Najib Abdul Razak and his wife Rosmah Mansor’s lavish lifestyle entitled ‘Hidup mewah sang perdana menteri’.

Tempo senior editor, Purwanto Setiadi (pix), said the magazine believes its sources for the story and although from secondary means, they (the sources) were vetted carefully before the said article was published.

“Like previously, we choose our sources (of the news) carefully. As of today, we believe in the source which was used,” he said when contacted by Malaysiakini.

Purwanto, who is the magazine’s editor for international news, was commenting on Malaysian ambassador to Indonesia Zahrain Mohamed Hashim’s statement that he wanted to meet Tempo editors to correct alleged misconceptions contained in the article.

Purwanto, who is also on Tempo‘s editorial board,  pointed out their article had also quoted the Malaysian Prime Minister’s Office (PMO) as dismissing the sources for the article as used by Tempo. Continue reading

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Dr M does 1MDB maths, says RM27bil missing

Dr Mahathir Mohamad took on the arduous task of calculating the purchases made by 1Malaysia Development Berhad (1MDB) through its RM42 billion loan and claimed that some RM27 billion is still unaccounted for.

“These are all the purchases known. They add up to RM14.7 billion. So there is approximately RM27 billion left.

“More than US$1 billion was said to be paid to Petro Saudi without verification as to the value of this company or its assets.

“Where is the rest of the money?” he questioned in his latest blog posting today.

Mahathir had listed several purchases “as far as can be ascertained” which were made by 1MDB: Continue reading

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Two Malay leaders say ‘No’ to exempt Muslims from GST

by Sonia Ramachandran

PETALING JAYA: As a broad based consumption tax, the Goods and Services Tax (GST) which came into effect on April 1 is meant to apply across the board to everyone, irrespective of income.

But Federal Territories Mufti Zulkifli Mohammad Al Bakri has suggested that Muslims who pay the zakat (tithe or alms) should be exempted from the GST or that a specific mechanism be set up so that Muslims are not taxed twice.

Speaking to Theantdaily, Islamic Renaissance Front chairman and director Dr Ahmad Farouk Musa said that the difference between obligations to the country and religious obligations must first be understood.

“Zakat (alms or tithe) is basically a religious obligation of Muslims who fulfil the criteria to part with a small portion, namely 2.5 per cent, of their excesses to help the poor and the needy in accordance with the eight divisions of Asnaf (eight groups of people who are eligible to receive the tithe or alms).

“Paying the GST is a duty to the country by all the citizens, irrespective of faith. There cannot be two tiers of citizenship,” he said. Continue reading

Posted in Religion, Special Interest | Leave a comment