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Justo provides missing link between 1MDB and Jho Low

  • May 25, 2018
KUALA LUMPUR, May 25 — Former Petrosaudi International executive Andre Xavier Justo claimed to have met billionaire Low Taek Jho two times to discuss a deal involving 1Malaysia Development Bhd (1MDB). Despite Low’s insistence that he had no involvement in 1MDB outside of the Terengganu Investment Authority, Justo told The Star newspaper in an interview that he personally encountered the billionaire twice over a deal with PSI that was eventually aborted but for which money still changed ha
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Xavier Justo: I will testify

  • May 25, 2018
Watch the interview with Xavier Justo.http://demirakyat.live/news/1378
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Gov't will repay RM143m 1MDB debt due next week

  • May 24, 2018
The government will pay the RM143.75 million debt due by 1MDB on May 30 as scheduled, Finance Minister Lim Guan Eng said today."There is a back-to-back guarantee by the federal government and we will honour the commitment," he told a press conference."We will pay as scheduled," he added.Lim made known of the RM143.75 million debt on Tuesday.Yesterday, he said he may decline to ink a document which authorises the Finance Ministry to settle 1MDB's debt if he was not given the true picture of 1MDB'
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MOF confirms Bank Negara, Khazanah funds used to pay 1MDB debts

  • May 24, 2018
Finance Minister Lim Guan Eng has confirmed reports that Bank Negara and Khazanah funds were used to service 1MDB's debts to the International Petroleum Investment Co (IPIC).In a press conference in Putrajaya today, Lim said there were two such transactions, namely:The redemption of redeemable cumulative convertible preference shares (RCCPS) by Khazanah worth RM1.199 billion; andSale of Kuala Lumpur land to Bank Negara for RM2.066 billion.http://demirakyat.live/news/1372
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OSA on 1MDB audit report meant to be temporary, says Ambrin

  • May 24, 2018
Former auditor-general Ambrin Buang said he had made the decision to classify the 1MDB audit report under the Official Secrets Act 1972 (OSA) when he was in charge, but it was supposed to be temporary.The classification was only meant to last until the Public Accounts Committee (PAC) completed its probe into 1MDB, he said."I think you just go back to the history, because before the final report was issued, there was an interim report."Even the interim report was presented to the PAC."So, to not
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MOF will take possession of 1MDB offices - Guan Eng

  • May 23, 2018
The Finance Ministry will take over 1MDB’s offices as its shareholders, said minister Lim Guan Eng.This came after he held a briefing with 1MDB president and CEO Arul Kanda Kandasamy, its former CFO Azmi Tahir and former general counsel Ivan Chen.“It is time for us to take over the offices of 1MDB and we have instructed Finance Ministry officials to take possession of the building as shareholders and the general counsel have agreed, and he’s handing over the keys to our possession.“We ho
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'Shocked' Guan Eng refuses to ink document to settle 1MDB's debt

  • May 23, 2018
Lim Guan Eng has refused to ink a document which authorises the Finance Ministry to settle 1MDB's debt of RM143 million, which is due next week.The finance minister has instructed 1MDB CEO Arul Kanda Kandasamy to inform the ministry in writing on whether the firm can fork out the sum or not.“I was shocked that the first document I had to sign is to pay off 1MDB's debt. I refused to sign unless I see all the relevant documents.“We have to make the payment before May 30 so as part of the proce
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Finance minister's verdict – Arul Kanda 'utterly dishonest'

  • May 23, 2018
In a scathing indictment, Finance Minister Lim Guan Eng accused the 1MDB president and chief executive officer Arul Kanda Kandasamy of being "utterly dishonest and untrustworthy."This was after Arul Kanda briefed Lim on the state of the firm, which the minister found unsatisfactory."I have found Arul Kanda to be utterly dishonest and untrustworthy.“I have instructed the legal advisers of the Finance Ministry to review his position as 1MDB president," Lim told a press conference in Putrajaya th
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Three giants later, last of 'Big Four' to crunch 1MDB accounts

  • May 23, 2018
Finance Minister Lim Guan Eng has instructed that PricewaterhouseCoopers (PWC) be appointed as 1MDB's new auditor to determine the state-owned company's financial standing.PWC is the sole firm among the “Big Four” global accounting giants that did not become embroiled in the 1MDB scandal."I have instructed that the Finance Ministry take steps to appoint PWC to conduct a special position audit and review of 1MDB so that Malaysians would know the true financial state of the company."We would t
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Guan Eng: Arul Kanda now unsure if 1MDB's RM9.8b fund units even exist

  • May 23, 2018
1MDB chief executive officer Arul Kanda Kandasamy is unsure of the value of the firm's "fund units" investments or whether these exist, according to Finance Minister Lim Guan Eng."Arul Kanda... claimed that all financial matters were handled strictly by the CFO (chief financial officer) and he is absolutely uncertain as to what the value of these 'investments' are, or whether they even exist in the first place," he said.Lim was speaking to reporters after being briefed by Arul Kanda and other 1M
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