Sementara nak bukak blog che det ... baca artikel dari new york times ni
http://www.nytimes.com/2015/02/0 ... -new-york.html?_r=1
Excerpt I ambik sikit
In his statement to The Times, Mr. Low played down his role in 1MDB, saying that “from time to time and without receiving compensation,” he has given his views on various matters.While Mr. Low has no official position with the fund, in 2012 it emerged in British court documents that he had presented a letter of support from 1MDB in his investors’ unsuccessful bid for the hotel group that includes Claridge’s. He also said the financing would be fully underwritten by Malaysian government investment funds, according to the documents. Mr. Low and 1MDB also had dealings with an oil-drilling company called PetroSaudi International that had been founded by a Saudi businessman and a Saudi prince. Soon after its creation, 1MDB invested $1 billion in a joint venture with PetroSaudi. A few months later, a PetroSaudi subsidiary purchased a Malaysian holding company, UBG, in which Mr. Low and his investors held a substantial stake, according to public records. News media reports did not say so, but corporate records reviewed by The Times show that a director of the PetroSaudi subsidiary was a close friend of Mr. Low named Geh Choh Hun. PetroSaudi has told the Malaysian press that the deals were unrelated. And both men said Mr. Geh was not representing Mr. Low’s interest in the deal. By 2011, 1MDB pulled out of the PetroSaudi joint venture. The proceeds, however, were not immediately returned to Malaysia. Instead, they ended up in a Cayman Islands company and managed by an investment firm that 1MDB only recently identified. The money was recently returned to 1MDB, the fund has said. The Caymans maneuver has stirred an outcry even within Mr. Najib’s own party. “I don’t understand why the government carries on with 1MDB,” Daim Zainuddin, a former finance minister, said in an interview. “To me, it’s quite frightening because you don’t know what they’re doing,” he said, adding, “Why must government money be parked?” There have been other criticisms as well — that the fund has taken on large amounts of debt and that some of its investments have benefited large donors to Mr. Najib’s party. The prime minister’s office said that 1MDB was run by professional managers, and that many blue-chip companies do business with funds registered in the Caymans. The criticisms, it added, “need to be examined for political motivation.” A year ago, the accounting firm KPMG refused to sign off on 1MDB’s financials, according to Nur Jazlan Mohamed, chairman of Parliament’s audit committee. KPMG declined to comment for this article. The fund, which described the parting as amicable, found a new auditor: Deloitte. Mr. Nur Jazlan, a member of Mr. Najib’s party, said the Deloitte blessing gave him comfort. “They wouldn’t sanction the accounts if there was a problem,” he said. Still, he acknowledged that “conditions are fertile” for fraud, given the scant oversight of 1MDB. “Yes, they make money, but should they make more money?” Mr. Nur Jazlan said. Yet as long as 1MDB shows a profit, he added, it is unlikely that there will be any serious inquiry into whether money went missing. “Money makes money,” he said. “You can basically hide a lot of things in there as well. Then, the party doing scrutiny of management is the board, which is appointed by who? And chaired by who? The prime minister.”
Macamana Nur Jazlan dari PAC nak investigate..?
| 
Post time 20-4-2015 08:13 PM
