YOURSAY | ‘The government is obviously running short of stories to tell.’
Kim Quek: That tycoon Jho Low was able to allegedly hustle 1MDB to part with US$1 billion to an apparently bogus joint venture within a matter of days of announcing the name of PetroSaudi International for the first time in September 2009 was perhaps due to his success in conveying the impression that PetroSaudi represented Saudi king’s interests who wanted anonymity.
It was for that reason that Jho Low made a brief appearance in the 1MDB board meeting on that day in September 2009 purporting to represent the Saudi royal family, to reinforce the idea that it was a high-level joint venture between the two governments that was going to usher in billions of oil money from the Middle East that would propel economic development in this country, thus fulfilling the noble objective of 1MDB.
In truth, Jho Low’s appearance in the board meeting was likely to be a con job. The Saudi king had no interest in PetroSaudi, and Jho Low was no Saudi representative.
PetroSaudi did not inject any cash into the joint venture. On the contrary, billions were sucked out from 1MDB (including the US$700 million cash that allegedly went directly into Jho Low’s pocket) and never seen the light of day again.
And Malaysian taxpayers are ultimately the suckers.
NNFC: I don’t know whether to laugh or cry. I find it difficult to believe that that man can represent the royal family of Saudi.
The government is obviously running short of stories to tell.
Odin Tajué: The Finance Ministry is correct. The king of Chautee Alappia, King Aptullah bin Aptulachee Al Saud, who died on Jan 23 this year, personally appointed Sheikh Tekjo Low bin Sheikh Lelli Hok Peng Low Al Pinang to represent him at a 1MDB board meeting in September 2009.
Just by attending that meeting, Sheikh Tekjo Low made US$1.83 billion fly away from 1MDB bank accounts.
In trying to deceive Malaysians on why the huge sum of money had disappeared, 1MDB claimed that the money was there but it was in the form of invisible cash, then in invisible shares, and finally in invisible units.
The invisible units were invested with a dubious fund manager in Chay May Islands. (That ‘chay may’ is Hokkien.)
So where is the US$1.83 billion? Oh, some of it could be turned into ‘doh-nay-shun’, while the rest has been salted away in secret bank accounts, landed properties, drilling rigs, etc.
Bluemountains: I am certain the Finance Ministry knows that saying something without providing proof is hearsay.
I am also certain that it is aware that it can ask the Saudi embassy to confirm that Jho Low was in fact appointed to represent the Saudi royal family.
Will PM Najib Razak as finance minister instruct his officers to seek the confirmation?
Anon1: Yes, Jho Low was only required to show up at the meeting and serve sirap bandung to the 1MDB board members.
For this, he was paid US$700 million by the kangkung vendor whose stall was also used as the meeting table. Any other bulls**t you’d like us to listen to?
Kalvin Rekhraj: The House of Saud clearly defines that any form of decision must be made by consensus among key members of the royal family.
Despite having over 2,000 members in the royal family, as well as 150 members in the country’s Consultative Assembly, the Saudis put their faith in a Malaysian to represent their country?
It would be great if someone could research the number of times the House of Saud has allowed a non-believer to represent the royal family.
Malaysians have been waiting patiently for answers on the parts of emails that were fabricated. Ex-PetroSaudi executive Xavier Andre Justo is in jail for blackmail. So the details should be released already.
Sali Tambap: A Chinese boy from Penang representing the Saudi royal family? This is unbelievable.
It is unthinkable a ‘kafir’ commoner could represent them in something so important. We know that the Saudi royal family is not short of representatives themselves.
They could pick or assign any members of their family or someone from the embassy or some junior staff, but definitely if it is required, it would be an Arab, definitely not Jho Low.
Disgusted: The Saudi royal family had nothing to do with 1MDB and it was not involved in a joint venture with the Malaysian sovereign fund.
It was a venture involving PetroSaudi Holdings (Cayman) Ltd. PetroSaudi was founded in 2005 by Tarek Essam Ahmad Obaid and a number of private investors.
Tarek Essam, a London playboy who is said to be a grandson of the Saudi Sheikh Obaid, is a chum of Jho Low.
The Malaysian subservient press trumpeted that the joint venture was an official partnership between Malaysia and Saudi government or rather Middle Eastern investors, but in fact it was merely a private deal between a company set up by a bunch of alleged con-men which included Low as the middle man.
They made claims about Middle Eastern investment in Malaysia when actually it was about Malaysian investment in a private Middle Eastern company.
Far from helping poor Malaysians develop,1MDB ended up allegedly lavishing money on Najib.
Retnam: Perhaps this is a prelude to a grand revelation to come soon – that the Saudi king is the mysterious donor of the RM2.6 billion in Najib’s bank account.
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