1MDB board to step down as early as next month

KUALA LUMPUR: In a move to mitigate the mounting criticism against debt-laden 1Malaysia Development Bhd (1MDB), the board of directors of the strategic investment fund will be made to step down as early as July, said sources with knowledge of the matter. The sources said that there could be changes in 1MDB’s board as well…

Inevitable end of 1MDB and crony capitalism

Crony capitalism is about a company which use coercive powers of government to gain money, market and resources that would not otherwise be achievable in a free market. 1Malaysia Development Berhad (1MDB) is the most troubled crony capitalist company by far. According to its website, Prime Minister Datuk Seri Najib Razak is the chairman of…

Everything To Hide

Everything To Hide – Najib Bottles Out Of ‘Tell All Session’ on 1MDB! … Najib has now shown that he is well and truly cornered over 1MDB. There are too many facts that are known and which he simply cannot disprove. Indeed it is not a question of having ‘nothing to hide’ over 1MDB, it…

PM and his gatekeepers have betrayed Malaysians on 1MDB Rm42 billion debt

Prime Minister Najib and his gatekeepers have betrayed Malaysians on 1MDB Rm42 billion debt There is a Malay saying that describes most aptly what is happening in Malaysia today under the Najib administration. It goes like this: Harapkan Pagar, Pagar Makan Padi ( literally it means in English, depend on the gatekeeper, the gatekeeper steals…

Has MOF hatched a devious scheme to cover 1MDB losses?

The company seems to be inflating its land prices to excuse its RM42 billion debt burden. KUALA LUMPUR: Petaling Jaya Utara MP Tony Pua has expressed shock over Second Finance Minister Ahmad Husni Hanadzlah’s revised valuation of 1MDB’s real estate properties. “I eagerly followed his live television interview with RTM1 to hear his explanation on…

Ex-PetroSaudi director’s arrest ‘suspicious’, says Dr M

The arrest of former PetroSaudi International director Xavier Andre Justo is suspicious and appears planned, former prime minister Tun Dr Mahathir Mohamad said today. Not ruling out the possibility the involvement of the Malaysian government, he said that “very clever propagandists” were hard at work to “blacken” his face. “What makes me puzzled is that…

Zero evidence of “distortion” of documents – Sarawak Report

S’wak Report tells critics: Get ready to be sued for libel UK-based whistleblower stands by their revelations on PSI and 1MDB and say critics should check their facts first before accusing them of ‘tampering’ documents. KUALA LUMPUR: The UK-based whistleblower site, The Sarawak Report, said in a website posting that it has closely researched the…

Corrupt Malaysia money distorts Melbourne market

In 2013, the private sale of an unassuming five storey apartment block near Monash University in Caulfield stunned local observers. Even in Melbourne’s booming property market, the $22.5 million price tag for a building designed like an IKEA cupboard seemed well above the odds. That’s because it was. Named Dudley House by developers keen to…

Is 1MDB Najib’s slush fund, asks DAP

DAP today questioned if 1Malaysia Development Berhad (1MDB) was created to be a slush fund to meet the political needs of Datuk Seri Najib Razak, following a Wall Street Journal (WSJ) report that claimed the troubled company indirectly bankrolled the prime minister’s 2013 election campaign? National publicity secretary Tony Pua (pic) said it appeared debt…

Malaysia must reappraise Rosmah’s pet project Permata

What about the ‘average” students’ in the country? Do they need no special help from national coffers that also fuels jet-set travel? FMT LETTERS By J.D. Lovrenciear Rosmah Mansor, the Malaysian prime minister’s wife who spearheads the pet project called Permata has just announced that this organisation is head-hunting gifted Malaysian children under the age…