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Sep
16

1MDB still mired in multi-billion dollar debt, Pua tells Johari

1MDB still mired in multi-billion dollar debt, Pua tells Johari

DAP lawmaker blasts Second Finance Minister for saying Deloitte and 1MDB declaring 2013, 2014 audit reports null does not affect 1MDB.

PETALING JAYA: There is no truth to Second Finance Minister Johari Abdul Ghani’s statement that 1MDB no longer has bank loans, says Tony Pua.

The Petaling Jaya Utara MP slammed Johari for making such a claim and listed out the multi-billion dollar debts that the state-owned investment firm has yet to repay.

“The debts include the US$6.5 billion worth of bonds raised by Goldman Sachs, RM5 billion sukuk guaranteed by the Federal Government, RM2.4 billion sukuk via its subsidiary Bandar Malaysia Sdn Bhd and another RM800 million of borrowings from Socso.

“So, how can a Finance Minister with any sense of integrity and accountability claim that 1MDB’s disowned financial statements for the years ending March 2013 and 2014 ‘doesn’t affect 1MDB because 1MDB no longer has bank loans and doesn’t plan to borrow money’?” Pua said in a statement released today.

Johari had been asked about Deloitte Malaysia disavowing the veracity of the 1MDB accounts for 2013 and 2014, which they had audited, as well as the 1MDB Board of Directors response that the financial statements for the two years “should no longer be relied on until allegations made by the United States (US) Department of Justice (DoJ) are determined in court”.

The DAP National Publicity Secretary expressed his shock that such revelations did not set off alarm bells for a minister holding the Finance portfolio.

“The Second Finance Minister appears completely uninterested in the reasons or basis why Deloitte has withdrawn its endorsement for 1MDB’s accounts for 2013 and 2014.

“The DoJ suit has shown that Deloitte has failed to discover that 1MDB had made more than US$3.5 billion of payments over the course of 2012 to 2014 to a fraudulent Aabar Investment PJS Limited, incorporated in the British Virgin Islands (BVI).

“Deloitte found nothing suspicious in 1MDB Global Investment Limited’s US$1.56 billion investment in several dodgy and obscure investment funds, that was said by the US DoJ to have been conduits in the money laundering scam,” Pua said referring to the audits done by the international accounting firm.

He also questioned Johari’s complete disinterest in the missing and embezzled funds, asking “why is there no demand from the Minister for the accounts to be re-audited?

“More so, since the DoJ exposed a multi-billion-dollar misappropriation which had taken place in the wholly-owned subsidiary of the Ministry of Finance?”

…more
1MDB still mired in multi-billion dollar debt, Pua tells Johari
August 3, 2016 – FMT


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REJECT such a leader!
We cannot afford ridiculously expensive RM55 Billion ECRL!
All that is necessary
for the triumph of evil
is for good men
to do nothing.

- Edmund Burke
When the people
fears their government,
there is TYRANNY;
when the government
fears the people,
there is LIBERTY.

- Thomas Jefferson
Do you hear the people sing?

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