Showing posts with label Wall Street Journal. Show all posts
Showing posts with label Wall Street Journal. Show all posts

Saturday, 11 July 2015

Gossip Malaysia: Najib's Best Option Is To Go On Leave




Embattled Prime Minister Datuk Seri Najib Razak has three options to consider for his immediate future as he wards off allegations that US$700 million (RM2.67 billion) was transferred into his personal bank accounts, Tun Musa Hitam told The Malaysian Insider.

The former deputy prime minister said Najib could: 1) remain in office and fight the allegations, 2) resign as prime minister and, 3) go on leave pending the investigations by a special government task force.

On a personal note, Musa said he would prefer it if Najib took the third option to allow for an open and transparent investigation.

Speaking exclusively to The Malaysian Insider yesterday, the 81-year Musa said he could no longer sit quietly as the issue gripped the nation.

"I have been under pressure from friends and foes to offer my views although I am out politics," said Musa who was deputy prime minister from 1981 to 1986 to Tun Dr Mahathir Mohamad, Najib's harshest critic.

Explaining why he preferred Najib to take the third option, Musa said this would give investigators the "space psychologically, politically and legally for them to find the truth".

He said Najib could resign and this would be the best "treat" the country would have and give way to new leader in Umno.

"But I humbly suggest that Najib take leave of absence for a certain length of period to facilitate the non-partisan investigation that is under way," he said. "To me, this (going on leave) is the best option that will show Najib's leadership, character and personality in line with the principles of parliamentary democracy," he added.
 
Musa said he was making the suggestion in Ramadan and also was invoking the good name of his mentor, Tun Abdul Razak, who had taken the nation to where it was now.

The late Razak, the nation's second prime minister, is also Najib's father. "He (Razak) cared for the people and the nation," said Musa, almost in tears.

Musa said should Najib go on leave, it should not be construed as a sign of weakness.

"As for me, I hold dear to the legal maxim that one is innocent until proven guilty and this also applies to Najib.”

Commenting on Umno, Musa, who was a former deputy president, said the party was in denial mode over its leadership problem.

"There is a very big problem in Umno and this affects the people because Najib was legally and constitutionally elected," he said, adding that the Umno president is always the prime minister of the country.

Musa said Umno must recognise the problem and find ways and means to overcome it.

"They must find an alternative and this does not mean getting the president out but looking at the options before them.

"But this must be done rationally, calmly and in the interest of the country and the people."

Musa said all the implications of the options must be studied before a decision was made.

"This is the way I will do it but unfortunately I am not there.”

Musa also said that he did not believe in the declaration of support for a leader in power.

"Those who pledge their support will be first to scoot off when their leader is in trouble," he said recounting his own experience in the party.

Last Friday, the Wall Street Journal (WSJ) reported that up to US$700 million was transferred into Najib's personal bank accounts in AmPrivate Bank in Kuala Lumpur between 2013 and 2015.

The WSJ reported that US$681 million (RM2.6 billion) originating from Tanore Finance, a company in the British Virgin Islands, was deposited into Najib's accounts in two transactions on March 21 and 25 in 2013, ahead of the general election in May.

It also uploaded documents it used in its report which showed instructions for telegraphic transfers and charts showing the money trail.

The task force confirmed yesterday that Najib had accounts at AmBank, but added that the two accounts were closed before the business daily broke the story last Friday.

The task force, in a statement yesterday, had also said one of the accounts had been closed on August 30, 2013.

Another sum of US$11.1 million (RM42 million) originating from Finance Ministry-owned SRC International Sdn Bhd was moved in three tranches between December 2014 and February this year.

The second account was closed on March 9 this year, the task force said in the same statement.

The task force on Tuesday froze six accounts in relation to its investigation. Najib denied taking money for personal gain, but has not commented directly on the fund transfers to his accounts. Bank Negara and AmBank have also not responded to the allegations.

The task force yesterday also said the documents being investigated had been provided by the group itself and were not the ones the WSJ had published. The statement was signed by the four members of the task force: Attorney-General Tan Sri Abdul Gani Patail, Bank Negara governor Tan Sri Zeti Akhtar Aziz, Inspector-General of Police Tan Sri Khalid Abu Bakar and Malaysian Anti-Corruption Commission chief commissioner Tan Sri Abu Kassim Mohamed. – July 10, 2015.

Tuesday, 7 July 2015

Gossip Malaysia: WSJ Releases Alleged !MDB Money Trial Documents




Nine documents detailing how almost US$700mil (S$943mil) in 1MDB funds allegedly ended up in Prime Minister Datuk Seri Najib Tun Razak's (pic) personal bank accounts have been released by the Wall Street Journal (WSJ).

The international business daily published the "Government Documents From Probe of Najib Razak" on their website on Tuesday, saying the documents came from a "Malaysian government investigation".

The documents showed alleged bank transfers from various companies to Najib's personal accounts on March 2013, December 2014 and February 2015.
The WSJ also published a letter regarding power of attorney over Najib's bank accounts dated Jan 20, 2014.

However, some details such as the last five digits of the AmIslamic Bank Bhd account, said to belong to Najib, were redacted.

Earlier Tuesday, the special task force set up to investigate the allegations released a statement saying that six bank accounts connected to allegations of channelling of funds had been frozen.

The WSJ on Friday published an article quoting an "unnamed investigator", claiming that almost US$700mil (RM2.6bil) of 1Malaysia Development Berhad (1MDB) funds flowed into the Prime Minister's personal accounts before the 13th general election.

1MDB refuted the claim, while Najib denied taking any funds for personal gain and accused former premier Tun Dr Mahathir Mohamad for being responsible over the latest "lie".

On Sunday, Najib said he was considering suing WSJ, describing the accusation thrown against him as a "criminal defamation".

The WSJ has since stood by its report. The international business daily said it possessed "solid" documents to back its claim.

Attorney-General Tan Sri Abdul Gani Patail confirmed that he had seen the documents relating to the case.

Source: AsiaOne

Monday, 6 July 2015

Gossip Malaysia: Mahathir Or Najib




Umno leaders must decide whether to back Datuk Seri Najib Razak or Tun Dr Mahathir Mohamad, Singapore’s The Straits Times said today, following revelations that funds from 1Malaysia Development Bhd (1MDB) had been channelled into the prime minister’s bank accounts.

The Sunday Times, the weekend edition of the daily, said Umno leaders were caught in an escalating power struggle between Najib and the former prime minister and “have to choose sides soon”.

On Thursday, the Wall Street Journal (WSJ) said documents showed US$700 million (RM2.67 billion) was moved among government agencies, banks and entities linked to 1MDB, which finally ended in the prime minister's personal accounts at the AmPrivate Bank in Kuala Lumpur, in five separate deposits.

Najib has since denied the allegations, accusing Dr Mahathir of masterminding the latest attack against him.

Today, a number of Umno leaders said Najib should sue WSJ if the claim that 1MDB’s funds were transferred into his account was false.

Yesterday, Deputy Prime Minister Tan Sri Muhyiddin Yassin said the allegations were serious and jeopardised Najib's‎ credibility as the prime minister and leader of the Malaysian government.

He also urged the Malaysian Anti-Corruption Commission (MACC), Bank Negara Malaysia and police, with the cooperation of the attorney-general, to begin investigations into the allegations.

Tun Faisal Ismail Aziz, an adviser to the Special Affairs Department (Jasa), was quoted as saying Umno leaders would have to take sides, given how "desperate" Dr Mahathir has become to "get rid of Najib".

Dr Mahathir has been a strident critic of Najib in the last few months, especially on his handling of 1MDB, of which Najib is the chair of the advisory board.

1MDB has racked up debts of RM42 billion and a few government-linked agencies have been accused of bailing out the state-owned fund.

One Umno MP told the Singapore paper that Najib should have asked Bank Negara governor Tan Sri Zeti Akhtar Aziz or AmBank to deny the fund transfers.
"Ask Zeti to deny or AmBank to deny. Nothing!" the MP was quoted as saying. – July 5, 2015.