10
May
15

Another multi-billion RM ‘brazen’ lie from 1MDB?

COMMENT Recently, US$1.1 billion (RM4 billion) of 1Malaysia Development Berhad’s (1MDB) redeemed money was claimed to have been parked with the Banca della Svizzera Italiana (BSI) Bank in Singapore.

The reason given by no less than Malaysia’s prime minister himself for parking the money in the republic was to circumvent Bank Negara’s (BNM) rule pertaining to bringing in of money. The rule in question stipulates that BNM’s approval is needed if more than RM50 million is to be brought into Malaysia.

The question anyone save for the mentally-challenged would ask is but why that should be a problem. After all, 1MDB is a government-owned company and is supervised by one no less than the prime minister-cum-finance minister. Getting BNM’s approval would be a piece of cake.

Last month, former NSTP group editor A Kadir Jasin revealed that BSI was a private bank, that it was even smaller than the Malaysian bank Affin Bank, and that it was a loss-making concern. He asked why the money was not parked in any of those big international banks or even in any of the Singapore branches of Malaysia banks.

The real reason may be clear now. It seems that the money does not exist.

Yes, you have read right. The Sarawak Report (SR) has claimed this to be so.

And the Sarawak Report’s investigative journalism is top-notch. It is deserving of the Pulitzer Prize. Those who are reasonably informed of things happening beyond their front gates would know this.

But if that isn’t shocking enough, consider that Sarawak Report’s investigation has also revealed that 1MDB has allegedly given false documents to BSI.

Sarawak Report has received evidence showing that BSI had dismissed documents supplied by 1MDB relating to the accounts for its subsidiary Brazen Sky Limited in Singapore.

…more
Apr 23, 2015 – Malaysiakini
Another multi-billion RM ‘brazen’ lie from 1MDB?

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