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Republic of Sarawak

In the Jungle of Cyberspace - Fierce and Fearless Defender of the Poor, the Downtrodden, the Dispossessed and the Oppressed Sarawakians - INDEPENDENCE FOR SARAWAK - HQ FOR THE REPUBLIC OF SARAWAK

Updated: 2018-01-18T05:21:20.990+08:00


Who the hell is this Tunku Aziz chap?

2017-09-08T06:45:27.416+08:00 By ZAINNAL AJAMAINCOMMENT: Who the hell is this Tunku Abdul Aziz chap?This is the typical brazen people from Malaya, very condescending, superior and lordly towards Sabahans and Sarawakians. His argument is as if Sabah and Sarawak begged to be a part of Malaysia. History has taught us that we did not want to form Malaysia; we wanted to form the Borneo Federation.Let it be known that it was Malaya who did not want to merge with Singapore, unless the Borneo states were included in the package.It is very obvious this character only read the “Social Contract” which is not documented and did not read the Malaysia Agreement 1963 – shame on you for calling yourself a Malaysian. To him only the Malays, Chinese, Indians, Sikhs and Eurasians are Malaysians – he did not even know that the Kadazan, Dusun, Murut, Rungus, Bajau, Dayak, Melanau, Kelabit etc are also people who form part of Malaysia.The “primitive colonies” as he says it, do not know what we wanted to do, but Tunku Abdul Rahman knew that the money Malaya had based on rubber and tin, was fast depleting.Unless Malaysia was formed, Malaya would be exporting their daughters as maids. As Abdul Aziz puts, “we celebrate our independence on August 31 and when you are part of us, our nation is YOUR nation”. What baloney! It is not “our nation is YOUR nation” it is more like “YOUR money is OUR money”This Abdul Aziz chap perhaps has not heard of the Malaysia Agreement 1963; he may not even have read it or perhaps he is so senile he did not know the date September 16, 1963.This is the day that Malaysia was formed by the Federation of Malaya (which later was named Malaysia), North Borneo (Sabah), Sarawak and Singapore. Singapore left the Federation of Malaysia later.He claims he was a teacher, it means that he has no conscience that this is a part of Malaysia history which is not taught in school or even in universities. They wanted to hide September 16 so bad that they only started to celebrate it 47 years after 1963, but only in Sabah and Sarawak NOT Malaya.Therefore, Malaya is NOT part of Malaysia; it is only masquerading as Malaysia.Does this Abdul Aziz represent the leaders and elite in Malaya? Because if he does then Sabah and Sarawak is more than happy to leave “YOUR family” so that we can create “OUR own family” as was originally planned.The problem with these leaders and elite from Malaya is that, “they need Sabah and Sarawak more than we need Malaya” – Sabah and Sarawak does not need Malaya.Talking about security concerns is just a scare tactic for Sabahans and Sarawakians to hang on to Malaya. Unfortunately, the Tanduo incident (the Lahad Datu standoff) shows that Sabahans and Sarawakians do not think much about Malaya discharging their security and defense obligations.What can we expect from insincere and dishonorable leaders and elites from Malaya? Their obligations in the Constitution which is mandatory to be implemented, yet, for more than five decades they have yet to fulfil any of it.They even have the audacity to say, “my door is always open for negotiation.” What negotiations? All negotiations were already completed in 1963. That was the reason for the Malaysia Agreement 1963. Currently, there is no more need for negotiations, just implement what was incorporated in the Constitution – no more no less.When shoved into a corner, a typical Malayan leader or elite would pretend to be stupid and try to interpret the law the way they like it. Perhaps many of the leaders and elite from Malaya overlooked the reason the United Kingdom was part of those who signed the Malaysia Agreement 1963.That is a link to the United Kingdom – just in case the leaders and elite in Malaya try to play dumb. Sure, the leaders and elite in Malaya may have their opinion on Sabah and Sarawak, but there is also a set of opinions from Sabah and Sarawak.We all can agree to disagree this is healthy for nation-building; the only way for this type of disput[...]

Selling off Sarawak's Oil & Gas assets - Myth or Reality? How Does Sarawak Benefit?


SPG SPEAKS Selling off Sarawak’s Oil & Gas Assets – Myth or Reality? How does Sarawak Benefit?This paper reviews the recent report on Petronas seeking to sell a stake in the SK316 PSC and questions what Sarawak is or should be doing about it.The newsReuters on 20th Feb 2017 reported in Singapore that Petronas is aiming to sell its 49% stake in the SK316 offshore gas block in Malaysia’s Sarawak for up to $1 billion seeking to raise cash and cut development costs. According to its sources, Petronas is said to be working with an investment bank on the stake sale and the process was kicked off in February 2017.[1]On 21st Feb 2017, The Star reported that Datuk Wan Zulkiflee Wan Ariffin, Petronas President and CEO denied the report that it was considering selling its stake in the SK316 offshore gas block in Sarawak to raise cash, adding that Petronas had a cash balance of RM130bil and that there was no need to sell to get money.[2]Block SK316, located approximately 180 km North of Bintulu, Sarawak, is operated by Petronas and contains a number of gas fields including the NC3 field which feeds Malaysia's liquefied natural gas (LNG) export project, known as MLNG Train 9.In 2011 & 2012, Petronas reported that Kasawari-1 and NC8SW-1 were the latest wells drilled in Block SK316 and were significant gas discoveries. The Kasawari field had over five trillion standard cubic feet (TSCF) with an estimated recoverable hydrocarbon resource of just over three TSCF, making it one of the largest non-associated gas fields in Malaysia. The recoverable resource for the NC8SW field is estimated at more than 450 billion standard cubic feet of gas. In late 2015, Petronas called off the tender for the Kasawari field development, a contract worth over US$ 1 billion that had been offered earlier. The first gas for Kasawari was initially targeted for late 2018, which is now delayed.According to the same Reuters’ sources, the stake to be sold is expected to include a combination of the producing NC3 gas field, the potential development of the Kasawari field and other exploration acreages in the block. The funds raised could also contribute to the future development of the Kasawari field.The realityAs far as reported in the public domain, Block SK316 is still 100% held by Petronas Carigali. While in the early 2011/12, Petronas was optimistic that it could go on its own with the development of its gas discoveries in SK316 including the over US$ 1 billion required for the Kasawari development. Things started to turn south in 2015, and with the falling oil prices and dwindling cash flows added to both the increasingly technical and project development challenges for Kasawari, Petronas decided to put the project on hold.Fast forward to 2017, where many believe that the Oil & Gas industry has reached its bottom and is now back on the upward trend, with time being right for Oil & Gas asset owners to evaluate their portfolio of assets in order to extract their maximum value. In this case, Petronas should not be exempted in assessing its portfolio of assets and identifying those that could be ‘flipped’ wholly or partially in return for cash or asset swaps or both. In the case of the SK316 block, where there exist producing fields, development projects and exploration options, selling a minority stake or farming out part of the PSC to others appears indeed to be an interesting option.  However, as SK316 is a gas PSC and having the NC3 field already feeding LNG Train 9, added with the technical challenges of the Kasawari filed, it is expected that there will be limited candidates for the minority stake in SK316. Nevertheless, since NC3 is already producing, it becomes an interesting option for the existing partners in LNG Train 9 in the likes of JX Nippon Oil & Energy or parties with downstream interest in Bintulu to consider the upstream options.Another interesting aspect for the minority stake in SK316 is that as Petronas will continue to be the operator, the stake is easily ‘bankable’ a[...]

Sarawak's Dammed Dangerous Dams


Time's Up for Najib's Global Raiders of 1MDB


More Evidence Of Jho Low's Company Paying Najib & Khadem Hundreds Of Millions


NEW 1MDB BOMBSHELL - Second Jho Low Company Paid Hundreds of Millions To Both Najib Razak AND Khadem Al Qubaisi - EXCLUSIVE!21 Jan 2016Reproduced with permission Khadem signs the deal while Najib looks on – but where did all the money go from the 1MDB/Aabar “strategic partnership”?Sarawak Report can reveal that a second Jho Low company, Blackstone Asia Real Estate Partners Limited, has paid hundreds of millions of dollars into the personal accounts of both the Malaysian Prime Minister, Najib Razak and also the ex-Chairman of Abu Dhabi’s Aabar fund, Khadem al Qubaisi.Aabar, a subsidiary of the IPIC sovereign wealth fund, has been enmeshed in a series of highly questionable and loss making deals with the scandal-torn Malaysian development fund 1MDB, which is directly controlled by Razak, using Jho Low as his proxy.A Sarawak Report investigation has established that Blackstone, a BVI registered company which gives an address in Singapore, has been cited as the sender of a series of enormous dollar currency payments to both men between 2011 and 2012.  Our information includes telegraphic transfer documents passed through the American banking system.The off-shore company uses a tactic familiar to watchers of Jho Low, in that it apparently seeks to give the impression that it is associated with the US global investment giant, the Blackstone Group. However, there is no link whatsoever between the legitimate multi-national and this secretive shell company.Jho Low and Li Lin enjoying the high lifeIn fact documents obtained by international investigators have ascertained that the signatory for the company is none other that Jho Low’s deputy, Seet Li Lin. Seet also acted in the same capacity for the notorious company Good Star Limited, which lies at the heart of the 1MDB scandal and of which Low was the sole shareholder.The records show that before it was liquidated in early 2013, just three years after starting operations, Blackstone Asia Real Estate Partners Limited transferred well over half a billion dollars into accounts belonging to the two men. This was exactly the period when two major loss-making power purchase deals were funded through billion dollar bond issues raised under a joint guarantee by the two funds. Much of that money appears to be unaccounted for, forming a large part of 1MDB’s current debt problems.Khadem scooped nearly half a billion dollars (RM2 bn)Documents obtained by Sarawak Report show that four separate payments were made to Khadem Al Qubaisi’s Luxembourg account at Banque Privee Edmond de Rothschilde Europe (headquartered in Switzerland) in 2012.  The sums were enormous.Firstly, on 29th May 2012 Blackstone Asia Real Estate Partners transfered US$158,000,000 million into Al Qubaisi’s account, held under the name of the The Vasco Trust, of which he was the sole beneficial owner.Blackstone BVI is registered under an address in an office rental block in Singapore – 36 Robinson Road.  Documents in the possession of SR confirm Al Qubaisi is the shareholder of Vasco TrustThree further payments on August 3rd, October 31st and December 4th comprised US$100,750,000, US$129,000,000 and US$85,000,000 respectively. It makes for a total of just under half a billion dollars – over two billion ringgit at current exchange rates, paid from a shady BVI company into the hands of the salaried Abu Dhabi fund manager over just six months.How did this ex-fund manager legitimately earn this sum – or was it a kickback?Insiders have confirmed to Sarawak Report that these payments were regarded as kickbacks linked to Al Qubaisi’s involvement in 1MDB.Tell tale connections with Good Star, Jho Low and Najib RazakThere was just one other major external transaction paid into Al Qubaisi’s Vasco account during the same financial year – US$20,750,000 was transferred from the other secret Jho Low owned company Good Star Limite[...]

How Najib Spent The People's Money (KWAP) Through SRC International Credit Cards


Najib Flashed SRC Credit Cards To Fund Multi-Million Ringgit Holiday Shopping Sprees! EXCLUSIVE20 Jan 2016Reproduced with permissionAG Apandi – passing the buckAmongst the shocking items of evidence understood to have been passed by the MACC’s 1MDB corruption enquiry to the Attorney General were credit card bills run up by the PM for his personal shopping on the public company SRC International’s named company credit cards!AG Mohamed Apandi, who replaced sacked Gani Patail in August after Najib heard charges were about to be brought on the matter, is clearly playing for time, having yesterday returned the entire dossier to the MACC (Malaysian Anti-Corruption Commission) for ‘further clarifications’.Apandi, of course, comes up for retirement in just 3 weeks time on February 11th, when he will hit 65.  Najib’s uber-loyal prosecutor Shafee Abdullah is already sworn in to replace him, which ought now to enable Apandi to escape this hot potato (he hopes) and to pass it on to Malaysia’s most famous legal thug.Najib must in turn be hoping that Shafee will simply thrust the whole dossier in the bin and continue to act as his one man legal attack unit against anyone who threatens the ‘Big Boss’.One month, two credit cards and over three million ringgit!Shafee and colleagueHowever, Shafee will be landed with an uncomfortable cover-up to deal with, simply because so many people now have the details from the dossier and are willing to leak them – to outfits such as Sarawak Report.Last year we already reported that Najib and his wife splashed huge sums of money during August 2014 on credit cards for their European holiday.  We are now able to furnish further details of the expenditure, information which we are reliably informed is included in the MACC dossier, which Apandi has decided to sidestep.The two cards involved were a Visa card issued by CIMB (no: 4585 8180 0000 5496) on which RM449,000 was spent and a Master Card issued by Maybank (no: 5289 4380 0003 8961) on which RM2.8 million was spent in the course of the month of August in 2014.Items funded included hotels, meals, jewellery purchases and other personal luxury expenditures in the South of Europe, including Italy and Monaco.Rosmah – the mystery over who funds her big jewellery is starting to unravel as more and more public money has shown up in Najib’s spending patterns.The devastating detail, which makes this expenditure so toxic for a Prime Minister who has spent the last year trying to explain the source of his ostentatious wealth, is that both cards were in name of the company SRC International, which began as a subsidiary of 1MDB before it was taken over by the Finance Ministry directly (Najib is also Finance Minister).Toxic companySRC International was famously launched with a RM4 billion loan from the public pension fund KWAP and has from the very beginning been embroiled in controversy over its opaque operations and lack of accountability.  The Chief Executive of SRC was none other than Nik Faisal Arif Kamil, who is currently a fugitive in Indonesia and at the centre of the scandal relating to the missing monies from 1MDB and tycoon Jho Low’s sale of UBG.After public demands for greater accountability over SRC in the 1MDB accounts, Najib in his dual capacity as Minister of Finance took the company directly under the Ministry of Finance and opposition parties have consistently campaigned for proper accountability over whatever has happened to the mission RM4 billion pension fund ‘investment’.The crisis of confidence deepened after Sarawak Report and the Wall Street Journal reported in detail how RM42 million was funnelled in late 2014 early 2015 by Nik Kamil from SRC into Najib’s personal accounts in KL – an allegation that the Prime Minister has signally failed to refute.Nik Faisal Arif Kamil, who fled to Jakarta to evade questioningT[...]

Malaysia's Chief Kleptocrat PM & Wife Hope To Escape With The Money


Najib Negotiates His Exit BUT He Wants Safe Passage AND All The Money! EXCLUSIVE DISCLOSURE17 Jan 2016Reproduced with permission All the perfumes of Arabia, but can Najib get off the hook?The new Attorney General Mohamed Apandi may by now be wishing he had not taken the job.His predecessor was unconstitutionally booted out by the Prime Minister in July for bringing forward charges based on the purloining of millions from the pension fund KWAP into Najib’s own private accounts.Now the Malaysian Anti-Corruption Commission (MACC) has completed its investigation into the matter and placed a dossier on Apandi’s desk, which according to several sources, contains no less than 37 separate charges against Najib, based on the same evidence.Moreover, Apandi is aware that this evidence has now been widely distributed and is known to all the top brass in UMNO, making a protracted cover-up extremely hard to achieve.Kevin MoraisIn November this AG had issued a bald lie following the brutal kidnap and shocking murder of Kevin Morais, who had been the public prosecutor tasked with drawing up the original charges for the MACC.  Apandi stated that Morais had had no role in the investigation.Murdered Kevin MoraisHowever, it is now widely established that Kevin was indeed the key prosecutor on the case and he is believed to have been the source of the leak of the original charge sheets drawn up against Najib to this news portal.Before he was abducted (and on the advice of Sarawak Report to the then anonymous whistleblower) Morais also sent the contents of his laptop file on the investigation to a number of trusted confidants – these are now waiting to see if Malaysia’s own forces of law and order are going to do their job or if they will need to release the information separately.It makes for a difficult situation for Apandi and Special Branch are known to have been trawling the friends and relatives of Kevin Morais in an unsuccessful bid to secure the return of these sets of documents.Since these authorities seized the relevant laptop from Kevin’s flat shortly after he was abducted, they are also fully aware of just how much information was passed out by the whistleblower before he was silenced.  He himself had explained his motives in a series of emails to Sarawak Report at the time.  His sentiments included these words on behalf of those in the civil service trying to bring out the truth:““The police continue to be rather aggressive in trying to uncover the sources of the leaks. And not actually trying to nab the lunatic on top of the pyramid, running this country to the ground just so his arse is saved… and I’m not sure if we’ll be able to stop this lunacy.”The information now thus at large from the investigation is said to include copies of the bank statements showing how RM42 million, which was passed into one of Najib Razak’s personal accounts from 1MDB, under the auspices of “Corporate and Social Reponsibility” payments, was actually spent by the Prime Minister.It was back in July that Sarawak Report together with the Wall Street Journal published details from the 1MDB investigation that showed the exact trail of the money: an original RM4 billion had been borrowed from the KWAP public pension fund by a subsidiary of 1MDB named SRC International Sdn Bhd; then between December 2014 and February 2015 a total of RM42 million was siphoned out of SRC through two intermediary companies controlled by 1MDB executive Nik Faisal Ariff Kamil (Gandingan Mentari Sdn Bhd) and Datuk Shamsul Anwar Sulaiman (Ihsan Perdana Sdn Bhd).  The latter has already been arrested and interviewed by investigators, whilst Nik Kamil has fled to Jakarta.Transfer 1Transfer 2Najib has said that none of this public money was spent on personal things.  However, those who have seen the relevant bank statements have [...]

What The European Parliament Thinks Of Najib's Regime


The European Parliamentary Resolution On Malaysia - In Full19 Dec 2015Reproduced with permission Europe has woken up to the corruption and human rights abuses in Malaysia, thanks to the dedication and advocacy of brave campaigners… and also to the astonishing, headline catching abuses of Najib Razak himself over the past weeks.Europe’s democracies reminded of their strong ties with Malaysia and deplored the recent descent into dictatorshipThis is a time when Europe is concerned about extremism and violence targeted mainly at their own countries.Even so, the representatives here were not prepared to be gulled into accepting Najib’s clampdowns on his own people and his own party under the excuse of so-called anti-terrorism measures.  They can see that by stamping on people’s liberties and rights Najib is creating the conditions for terror and instability, not the other way around.The resolution shows Najib has fooled nobody in the world but himself and the self-interested flunkeys whom he has paid to support him.  The full resolution of the European Parliament is below and you can watch the debate on the resolution here:The European Parliament,–  having regard to its previous resolutions on Malaysia,–  having regard to its resolution of 15 January 2014 on the future of EU-ASEAN relations(1) ,–  having regard to the Statement by the EEAS Spokesperson of 15 April 2015 on the recently adopted amendment to the Sedition Act in Malaysia,–  having regard to the Statement by the EEAS Spokesperson of 17 March 2015 on the arrest of Nurul Izzah, opposition Member of Parliament in Malaysia,–  having regard to the Statement by the EEAS Spokesperson of 10 February 2015 on the conviction of Malaysian opposition politician Anwar Ibrahim,–  having regard to the EU Strategic Framework on Human Rights,–  having regard to the Statement by the UN High Commissioner for Human Rights of 9 April 2015 on draft anti-terror and sedition laws,–  having regard to the joint press release by the EEAS on the EU-ASEAN policy dialogue on human rights of 23 October 2015,–  having regard to the EU Guidelines on Human Rights Defenders,–  having regard to UN Universal Periodic Review session of October 2013,–  having regard to the report of the Special Rapporteur on trafficking in persons of June 2015,–  having regard to the second Universal Periodic Review of Malaysia before the UN Human Rights Council, and its recommendations, of October 2013,–  having regard to the Universal Declaration of Human Rights of 1948,–  having regard to the United Nations Declaration on Human Rights Defenders of 1998,–  having regard to the International Covenant on Civil and Political Rights (ICCPR) of 1966,–  having regard to the UN Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment (CAT) of 1984,–  having regard to the Association of Southeast Asian Nations Human Rights Declaration,–  having regard to Rules 135(5) and 123(4) of its Rules of Procedure,A.  whereas the EU regards Malaysia as a key political and economic partner in South-East Asia; whereas the EU and Malaysia are negotiating a Partnership and Cooperation Agreement and a Free Trade Agreement;B.  whereas the space for public debate and free speech in Malaysia is rapidly narrowing as the government resorts to vaguely worded criminal laws to silence its critics and quell public discontent and peaceful expression, including debates on matters of public interest; whereas these laws include the Sedition Act, the Printing Presses and Publications Act, the Communications and Multimedia Act and the Peacefu[...]

Sarawak's Unaccounted For Borrowings


Sarawak's Frail 'Democracy' Exposes Its Failings With Suspension Of Opposition Leader16 Dec 2015Reproduced with permission This post is also available in: MalayYB Chong is the leader of Sarawak’s largest opposition party, Democratic Action Party (DAP).  He is also the elected representative of the Kota Sentosa Kuching constituency in the heart of the State’s capital city, comprising some 25,000 voters.Yesterday, the Speaker of the Assembly,  Amar Mohamad Asfia, nonetheless booted him out of the Assembly, for what he and 35 BN representatives considered to be an ‘insulting‘ speech, in which he complained of ‘David Copperfield accounting’ in the state.He will be banished for the remainder of the session, which granted in Sarawak can only mean a few days, since no session of the DUN is ever allowed to last more than a couple of weeks in this so-called democracy.It is relevant to note that Asfia himself is not himself elected and in fact represents nobody but Taib Mahmud.  The Governor appointed him back in 2000 and he has been acting as the DUN headmaster ever since – shutting people up, switching off microphones and telling YBs what they can and cannot do.So, under this singular arrangement, the Speaker in Sarawak (and Sabah) is not a member of the house, chosen by his fellow YBs, as with normal parliaments across the world, but an unelected bureaucrat selected by the head of the executive, the Chief Minister himself.This one anomaly turns the tables on democracy, because it means that the elected  representatives of the people, are not in fact in charge of the executive, which is their legal role as the ultimate authority in the state.Instead, it is the executive which appoints this lapdog Speaker, who calls the shots over the elected assembly and selectively ‘punishes’ those who cause problems for the Chief Minister.Other democratic parliaments across the world would gasp at such an authoritarian system, which takes the power away from the people’s representatives and places it so squarely with the executive. However, it is strongly suspected that most people in Sarawak do not realise how they have been cheated and that BN are in no hurry to educate them on the basics of democracy.‘Insulting’ or doing his duty – what caused Chong’s censure?So, what was this “insulting” speech for which the leader of the opposition has been silenced and removed for an entire session?It turns out that Chong had raised an issue that is quite rightly of major concern to his constituents – the subject of the state finances and the mysterious waste of huge sums of public money.He aptly conjured a term ‘David Copperfield economics’ to express the frustration of YBs faced with claims of a surplus, when the state is patently earning less than it is spending. Is it not the job of an opposition politician to raise such issues and wasn’t the strong arm response merely a sign that this government was short of convincing answers?Sarawak’s dodgy high interest loans are draining state financesOf course, Chong has been a thorn in the side of the state government for some time on the subject of financial mismanagement.  At the start of this session he issued a statement which raised a long standing concern – those vast and shadowy borrowings initiated by Taib for various unspecified projects, for which the state is still paying enormous rates of interest.“Adenan has tried to justify these borrowings but failed miserably,” said Chong. “It only confirms my suspicion that there are great improprieties in these offshore loans taken by the Sarawak Government.” ..Who are the bond holders?” he asked. “Are these bond holders related to the top Barisan Nasional (BN) leaders with a lot of money overseas? Why is the Sarawak Govern[...]

How Najib & Jho Low Played "Hide & Seek" With 1MDB's & KWAP's Money


Reproduced with permission Playing Games With Names — Jho Low’s Modus OperandiThe Auditor General, who is known for his upright approach, is going to have a hard time re-setting a date for the publication of his report into 1MDB — due today, but postponed till further notice.Like the Attorney General, Deputy Prime Minister, Head of the Public Accounts Committee, Vice President for UMNO, Special Branch Chief and shortly the Head of the Central Bank, he may find himself replaced first. At least he is still alive, unlike the investigator from the MACC into this dirty business, Kevin Morais.Today’s report in the Wall Street Journal shows that 1MDB paid a total of US$850 million into a bogus off-shore company, using the name of the Abu Dhabi fund Aabar, Aabar Investments PJS Ltd.Playing games with names — Jho Low’s modus operandiIt follows on from our own expose earlier this week detailing that, contrary to claims by 1MDB, the Seychelles company Good Star Limited belongs entirely to Jho Low, which confirms that the Prime Minister’s nominee was running 1MDB’s operations and indeed running off with a great deal of the money.The revelation also confirms a pattern that has provided unmistakable evidence of a ‘modus operandi’ by the youthful Official Advisor to 1MDB, which was the title given to Low. We can point to numerous transactions involving Jho Low and his nightclubbing friend, Aabar’s Khadam Al Qubaisi, which essentially consist of playing games with names to give the impression that shadowy off-shore companies were some sort of subsidiary of major concerns.These companies have all turned out to be linked to suspicious losses of money from 1MDB.PetroSaudi International Limited (Seychelles)Take PetroSaudi International Limited, Seychelles, which was positioned as a subsidiary to PetroSaudi Holdings Limited (Cayman) which was involved in the joint venture with 1MDB. In fact (after considerable to-ing and fro-ing about how to set up the arrangement) it was a company totally controlled by Jho Low through an investment management deal with one of his own off-shore companies Panama Investment Manager, which gave him control over all its money.Tarek Obaid had agreed to act as the Director of PetroSaudi International, but in a personal capacity, not linked to the main joint venture partner as alleged.During its buy out of UBG, orchestrated by Jho Low, who had a major personal stake in the company, there was much concern expressed by AmBank officials negotiating the deal about who exactly did own this supposed off-shoot of PetroSaudi (which had received the money used to buy UBG from 1MDB).They were told that the shady nature of the ownership was owning to the need to conceal the private interest of the King of Saudi Arabia in the deal! They accepted the excuse, which was a lie.SRC GlobalBusiness partners and party pals Jho Low and Khadem Al QubaisiIn 2013 the Aabar owned Spanish oil giant CEPSA purchased the Canadian company Coastal Energy for US$2.3 billion, in a deal masterminded of course by their boss the then all-powerful Chairman Khadem Al Qubaisi.Strangely, he did the deal in tandem with a private company owned by none other than Jho Low, which took an option on the sale in its alleged role as ‘facilitator’. That company of Jho Low’s went by the name of Strategic Resources Global. The details of SRG’s involvement have yet to be published, however insiders have intimated that the point of the option was that it could then be valuably sold back to CEPSA.Given Low’s established history of using 1MDB money as backing for other private deals forged together with his pal Khadem from Aabar (see our exposes on the London Hotel bids of 2011) there can only be questions asked as to the strikingly sim[...]

Genuine Shenanigans: Can Adenan Explain? Maybe MACC Can!


Reproduced with permission Cheap land for Taib-linked company — Adenan should explain!Just weeks after Sarawak’s Chief Minister Adenan Satem came under pressure from environmental groups for remaining silent about peatland clearing by crony company BLD Plantation in Sibu, he now faces questions why he granted 3,000 hectares of land at a mere fraction of the market value to a Taib-linked company in 2014.In a statement released by Padungan State Assemblyman, Wong King Wei from the Democratic Action Party (DAP) last week, Adenan was asked to explain why:22 parcels of land located in Lundu, Sarawak, totaling 3,121.33 acres, were alienated to a single company, namely GENUINE FORMATION SDN. BHD. (Company No. 805567-K) at a mere total premium of RM882,176.00 or at about RM282.00 per acre on average.With this condition of the land, it is reasonable to estimate that the land at that area is worth at least RM5,000 per acre. Yet the State Government is giving out the land not even at RM300 per acre.In adding salt to wound, the total premium of RM882,176 payable by the said Genuine Formation Sdn Bhd need not have to be paid. The premium of RM882,176 is not collected by State Government as it is “part of payment in kind” vide Contract No. PWD/HO/B102/2000”. Thus the said Genuine Formation is enjoying double enrichment both in the value of the land and profit in the contract.Thus, I demand for Chief Minister’s immediate explanation. Has he chosen to go back to the old path of his previous administration?Land (in yellow) alienated to Genuine Formation in LunduSo who owns Genuine Formation?Veteran Sarawak watchers have viewed this transaction with weary recognition. The generous handouts of the Taib era were invariably made to members of his own family or his business and political cronies.Given that Adenan has vowed to change the way Sarawak has been plundered by its own governors and to return law and order to the planning and forestry departments, all are interested to know who owns the remarkably fortunate Genuine Formation, who has benefitted from payments that should have been made into the public purse.Land searches show that 22 parcels of land have been granted to Genuine FormationSadly, it seems nothing has changed in these respects.The company Genuine Formation is registered at the address Level 9, Titanium Tower, Lot 1, Brighton Square, Jalan Song, Kuching.Dedicated readers of our blog may well recognise that address as the office of Taib Mahmud’s son Mahmud Abu Bekir and his company Titanium Management. A company that Sarawak Report have previously exposed for being granted lucrative state contracts and even free state land totalling the size of Singapore.Taib’s son Mahmud Abu Bekir has been granted a further 3,000 ha for “payment in kind”Besides Titanium Management, we have also identified numerous other companies that received vast tracks of land which are clearly controlled by Mahmud and his business partners, the Chung family. These companies are operated out of the same offices and use the same telephone number as Titanium Management. Way back in 2011 we identified 14 such companies.Scandalously, in each and every case, these lands have been handed to the companies under the category of so-called “Payment in Kind”. This is a polite way of saying that it has been given to Taib’s son for free and it looks as if the land given to Genuine Fortune was no different.Registered at same address as Mahmud Bekir’s Titanium ManagementMahmud Bekir’s proxy Chung Soon Nam — 99% owner of the companyThe real beneficiary of the Titanium companies — Mahmud Abu BekirJust last week, the Malaysian Anti-Corruption Commission (MACC) criticised such cronyism when it tabled its 2014 report i[...]

The Incredible Lengths The Culprits Behind 1MDB Will Go To Try To Discredit Sarawak Report


Liar's, Forgers And Paid PR People Posing As Activists - Black PR Against Sarawak Report Exposed11 Nov 2015Reproduced With Permission Same picture different ID! Ashraf Rossli, the newspaper photo of the Malaysian student famous for surviving a gang attack in LondonThe recent PR campaign against Sarawak Report, supposedly supported by a team of enthusiastic Tweeters and Facebook fans, has accused this writer of being a “liar” and a “forger” and of being a paid “activist posing as a journalist”.Yet our research, together with the UK’s Independent newspaper, into the anonymous outfit behind this campaign, has shown that these descriptions perfectly fit the accusers instead.The Independent has today published their investigation and featured our complaint against Facebook and Twitter, for taking inadequate steps to protect victims from this kind of abuse.Because, it is not only Sarawak Report that is being defamed and abused by this expensively commissioned ‘Black PR’ campaign.A whole series of innocent and vulnerable people are also being exploited, because their pictures and identities are being stolen and used to create fake characters in a clear act of forgery and lies.These include Ashraf Rossli (above) a Malaysian student, who gained world sympathy when he was robbed on camera during the London riot. Ashraf is depicted by these hired forgers as a fictitious character called Sam Woo, who falsely claims in his tweets that Sarawak Report removes comments by people who disagree with its reports.“Wow! Post a question on the sawarak report and if they don’t agree with you it gets deleted. I thought they were about transparency?!” [sam woo @Malayobserver2]Philip Goodeve-Docker – tragically lost to his family, but now cynically utilised to create a fake attacker against SR called ‘Harry Draker”Further victims of this form of identity theft and abuse even include people who have died and reputable individuals, whom these fake Twitter accounts associate with seedy call girls and dodgy ‘followers’.Indeed, as the UK’s Independent newspaper has today reported to an outraged British public, these scammers have dragged in all manner of innocent people into their vendetta against Sarawak Report, in retaliation for our reporting on 1MDB and the corrupt petroleum company PetroSaudi.A British Arctic explorer, Philip Goodeve-Docker, who recently died tragically after becoming stranded in appalling icy conditions, for example, has been reinvented as a banker named Harry Drakeford, allegedly keen to promote an anonymous defamatory Facebook site called The Real Clare Rewcastle, which accuses Sarawak Report of lying and forging. Unfortunately the real man in this picture has died, so the opinions are cruelly faked. Philip’s father, Nigel Goodeve-Docker, told The Independent “It’s very distasteful. It is cheap to use the photograph of a dead person who can’t complain.”Numerous other innocent people have had their photos snatched off from websites and then attached to fictitious characters and Twitter accounts, according to the research by ourselves and The Independent.Photos have even been changed for the same ID, altering them overnight to a completely different race or age group, while keeping the very same name and identity!In one case a deceased American named Samuel Everett Morehead was revived to form a Twitter account under Sam Everett, with an unaccountable interest in Malaysia and SR.Accusing Sarawak Report of secret funding from the pharmaceutical companyNovartis! Unfortunately, our researches have shown that Samuel Everett Morehead died in Dallas, Texas back in March 2013.No respectFamilies of Mr Morehead and others treated in this[...]

The Long Lost Stolen Bugis Pirate Treasure Of 1MDB


Australian Investigation Further Confirms 1MDB's Cayman Con-Trick8 Nov 2015Reproduced with permission This post is also available in: Malay, IbanTreasure Islands – where 1MDB chose to bury its missing billions through Avestra/Bridge GlobalThe company which 1MDB engaged to allegedly buy up its so-called investment in PetroSaudi back in 2012 is now under a separate investigation by the Australian authorities.In the absence of a proper open enquiry in Malaysia itself into the shenanigans surrounding this dodgy deal, the liquidation of Avestra by the Australian Securities and Investments Commission (ASIC) has provided some very useful information.In particular, it nails the lies about an alleged billion dollar fund, secretively located in the Cayman Islands, which 1MDB had claimed contained its ‘profits’ from the PetroSaudi venture.The Sydney-based Malaysian economics writer Ganesh Sahathevan has been pulling together the details of the ASIC investigation over the past few days and he has produced devastating evidence that the Australian investigation has concluded that Avestra never had more than a few tens of millions of dollars worth of funds under its total management – a far cry from the US$2.3 billion 1MDB claimed to have alone invested.This adds to the information that the so-called Bridge Global Absolute Return Fund SPC, allegedly managed by Avestra, did not in fact exist as a licensed body in the Caymans at the time 1MDB says it plunged so much money into it.The Wall Street Journal has summed up the dodgy sequence of events in a recent article “Hunt For Billions Invested in 1MDB Points To Australia“:In 2012, 1MDB put $2.32 billion of what it said were proceeds from its PetroSaudi investment into a Cayman Islands-registered entity called Bridge Global Absolute Return Fund SPC. According to 1MDB, that money included its initial $1 billion investment, plus a later investment of about $800 million and profits it earned in the venture. The Bridge Global fund was set up only weeks before it received the 1MDB money, according to documents from the Cayman Islands corporate registry that don’t say who set it up. In testimony in June to the parliamentary committee investigating 1MDB, a representative from current auditor Deloitte Touche Tohmatsu Ltd. said the money in Bridge Global at that time was managed by Avestra. Australia’s regulator says Avestra became an “investment adviser” to Bridge Global in March 2014. It is unclear whether Avestra had any prior connection to Bridge Global or if it still has a role at the Cayman Islands fund….. Opposition politicians and even some members of Malaysia’s ruling party, however, have wondered why 1MDB would keep so much money in a little-known fund…..  1MDB’s auditor, KPMG LLP, was fired in December 2013 by Mr. Najib, who is chairman of 1MDB’s board of advisers, after it refused to sign off on the Malaysian fund’s financial accounts without more details on the investment in Bridge Global, according to the auditor general report.To enable Deloitte to sign off on its books after KMPG was fired, 1MDB got [Aabar].. to guarantee the investments in Bridge Global, a Deloitte auditor told the Malaysian parliamentary committee…Soon after, 1MDB used its investment in Bridge Global as collateral for a $975 million loan from a group of banks including Deutsche Bank. Questioning its collateral after already giving the loan, the banks pressed 1MDB to pay back the loan just nine months after it was issued, according to Malaysia’s finance ministry. The Abu Dhabi firm IPIC [Aabar] stepped in again. It agreed to take over some of 1MDB’s debt, including the Deutsche Bank[...]

More Despicable Dirty Desperate PR Campaign Shenanigans Against Sarawak Report


Defamation Games: A Swiss PR; Anonymous Attacks; A Fake Twitter Army - And Information They All Share31 Oct 2015Reproduced with permission Sponsored content on Facebook – who paid?On October 23rd the latest paid PR campaign against Sarawak Report swung into its ‘new media’ phase.We have seen it all before.On that day a new Facebook site called ‘The Real Clare Rewcastle’ appeared online, replete with expensively commissioned cartoon videos denouncing the editor of Sarawak Report as a “liar”, “forger” and “activist posing as a journalist”.Furthermore, it alleged that she had been paid by interested parties to work to “topple a democratically elected Prime Minister”.On the self same day a bogus Facebook and Twitter army of  non-existent characters also made their debut to promote the videos and attack Sarawak Report.Same things in common – started on same day, attacking same thing, same friends and followers – fake accounts.Supposedly, the characters came from different countries, ages and backgrounds.However, they are ‘followed’ by the same handful of organisations (including dating agencies) and share the same handful of links.These October 23rd Tweeters and Facebook characters are all obsessed with the same issue, which is to encourage people to go and read the new Facebook site libelling Sarawak Report.The motley crowd of allegedly unconnected fake people have also developed a parallel obsession with passing round an allegation that Sarawak Report is paid by none other than the Swiss pharmaceutical company Novartis.Why Novartis would wish to pay for an alleged plot to “topple a democratically elected Prime Minister” remains unexplained, however the company is unpopular with certain environmental groups, who appear to be targeted in an attempt to undermine support for Sarawak Report.‘KL air hostess Lillian’ is invited to present herself along with her other new friends of 23rd OctoberIt is, of course, all entirely untrue.Ella’s only three followers include ‘Erotic Beauty’ and ‘Handsome Fresh’ and her  two new Oct 23rd contacts Maya and Harry were soon attacking the comments section of Sarawak Report claiming we produce ‘no evidence’..Promoted contentNevertheless, the Facebook site is ‘promoted’ content, which means that Facebook is being paid to direct it towards as wide a circle as possible of interested people – eg all Malaysians.‘Ella’ (left) and her small army of fake friends have also started trying to harass anyone involved with Sarawak Report, in order to attempt to undermine their own separate contacts.The sponsors of the site have remained anonymous, of course, to avoid being held accountable for their blatantly libellous content.The UMNO communications boss, Rahman Dahlan, of Lester Melanyi fame would doubtless have approved of this whole cunning ruse to attack this website, but the finger points elsewhere on this occasion.Oct 23rd also saw the invention of ‘Rosie’ – pro the Najib budget and anti-SR. She has two followers including “Badclass Lingerie”A fortnight or so earlier Sarawak Report had received warnings that a Swiss PR firm was ringing round the UK looking for a partner in a ‘dirty campaign’ against Clare Rewcastle.The campaign was to involve material gained from her whatsap communications with Xavier Justo, the ex-PetroSaudi Director who had passed her a copy of that company’s database, including the details of the 1MDB PetroSaudi joint venture involving the theft of US$1.83 billion dollars from Malaysia.Most UK PR companies declined to be involved in this grubby job, but where there is money there is always an eventual t[...]

How The Culprits Split The Loot From 1MDB


Raking In The Profits From Malaysia!12 Oct 2015Reproduced with permission Mahony flew to Thailand to stage Justo’s arrestIn May of this year an angry and desperate strategy was put into play by the conspirators who had taken billions out of Malaysia’s 1MDB development fund.Patrick Mahony, a Director of PetroSaudi International, flew over to Bangkok to lay accusations of blackmail against a former fellow Director, Xavier Justo, who had moved to Thailand.It was the first step in a carefully executed plan to try to seize back the initiative in response to exposures based on evidence provided by Justo, which had opened up a dangerous series of official investigations against PetroSaudi and 1MDB.We will bring more of what Mahony then did to his former colleague below.Meanwhile, Sarawak Report has obtained further evidence showing exactly how Mr Mahony himself had benefitted to the tune of tens of millions of dollars within days of helping his collaborator Jho Low siphon US$700 million out of 1MDB.And we can show how three days after that he became the secret buyer of a large and expensive house in one of the swankiest parts of London. 27 Ladbroke SquareNo 27 – bought with 1MDB development money!According to public records, 27 Ladbroke Square in Notting Hill Gate, a five story house with a large back garden looking out over one of the capital’s most sought after private gardens, was purchased for a publicly undisclosed sum in early January 2010.The Land Register informs us that it belongs to an anonymous company in the British Virgin Islands with a Post Box address.In this respect it forms part of a recent and growing phenomenon.London has started to team with anonymous foreign property concerns, as wealthy off-shore entities have started to buy up great chunks of the capital for prices that have driven ordinary British buyers out of the London market.Malaysians may be interested to know that the biggest investors in London in the year preceding the 2013 election were in fact Malaysians themselves, followed by Singaporeans, who spent more than the British themselves on property in their own capital city.The BVI company Mika 1 is the “owner” of 27 Ladbroke SquareHowever, thanks to Xavier Justo’s evidence from the PetroSaudi database, Sarawak Report is able to identify the person who had bought 27 Ladbroke Square and exactly how much it cost – a whopping £6.15 million (RM39 million).The buyer was indeed Patrick Mahony and he had put down his offer on the super-expensive new home with the posh agent Savills exactly three days after receiving his cut from 1MDB’s US$700 million payment into Jho Low’s company Good Star Limited.29th September 1MDB pays US$700 million into Jho Low’s Good Star account – 23rd October Patrick is putting down on a house… what passed in between?In a number of communications reviewed by Sarawak Report Patrick Mahony confirmed his beneficial interest in 27 Ladbroke Square, dealing with lawyers (on the subject of minimising tax on the property); estate agents (whom he needed to prove his hidden ownership to); his Swiss bankers (of course); accountants and off-shore trust advisors and a variety of designers and decorators whom he brought in to upgrade the property further once he had purchased it.His correspondence shows that he finally acquired the property on 18th December 2009 through a complex arrangement, using a series of off-shore trusts, plainly in order to minimise his tax liabilities on the Malaysian millions he had acquired.An off-shore company in Guernsey, named Mika 2 purchased and then sub-sold the property to a related company in BVI named Mi[...]

1MDB Caught In Its Own Web Of LIES


Sarawak ReportReproduced with permission Arul Spins A Changing Story As We Publish More Documents He Can’t Deny!Sarawak Report awaits 1MDB Arul Kanda’s suit for libel over our allegedly ‘unsubstantiated’ reports.In his latest press release he claims that our PetroSaudi evidence is ‘unfounded’ and ‘possibly doctored’, while admitting that our copies of 1MDB Board minutes were accurate.Forced to admit to the 1MDB minutes, but still claiming our PetroSaudi documents are ‘unfounded’ and possibly doctored?!If any of the documents which we have produced about the joint venture deal between 1MDB and PetroSaudi are “possibly doctored” as he ventures to suggest, it would, of course, be the easiest thing in the world for Mr Kanda to produce the evidence from his own records and explain the truth to a UK court.Likewise, if our allegations were “unfounded”, why has the only remaining institution in Malaysia that retains a shred of credibility in the eyes of the world, Bank Negara Malaysia, backed our findings down to the very last dollar?We have detailed how US$1 billion + US$500 million + US$330 million (= US$1.83 billion) were channelled from 1MDB into a fraudulent deal with PetroSaudi, where most of the money was diverted into the Zurich account of the company Good Star Limited belonging to its official ‘Advisor’ Jho Low.See for the first time the document (which Mr Kanda is welcome to dispute) that proves the official nature of Jho Low’s role at the Terengganu/1MDB Development Fund, which he has so emphatically denied for so long:Jho Low was formally appointed as an Advisor while the 1MDB PetroSaudi deal was being negotiatedThe Terengganu Investment Authority changed its name to 1MDB half way through the Petro-Saudi deal on September 18th 2009, which Jho Low managed from beginning to end, despite his repeated claims that he had nothing to do with 1MDB after May 2009.PetroSaudi’s lawyer from White & Case noted the date in an email (which Mr Kanda is welcome to dispute)Despite his denials Jho Low was an official advisor during the period of the dealLast week, of course, Bank Negara confirmed our findings on the purloined US$1.83 billion by demanding this exact sum of money back and baldly stating that it had recommended criminal proceedings against 1MDB for allowing the PetroSaudi scam to proceed:“The Bank concluded that permissions required under the ECA [Exchange Control Act] for 1MDB’s investments abroad were obtained based on inaccurate or without complete disclosure of material information relevant to the Bank’s assessment of 1MDB’s applications.Therefore, the Bank has revoked three permissions granted to 1MDB under the ECA for investments abroad totalling USD1.83 billion and also issued a direction under the Financial Services Act 2013 to 1MDB to repatriate the amount of USD1.83 billion to Malaysia and submit a plan to the Bank for this purpose”.[Bank Negara Statement]Despite this plain speaking by Bank Negara, Arul Kanda still attempts to say that our allegations are “unfounded” and that our evidence is “possibly doctored” — whilst not suing us.He also refers to one our several cross-referenced sources as a “convicted criminal”, whilst conveniently neglecting to mention that this Swiss national, Xavier Justo, was a former senior director of 1MDB’s own joint venture partner PetroSaudi and that he was convicted (in Thailand) for attempting to blackmail his fellow PetroSaudi directors, using evidence about their role in the 1MDB billion dollar scam.Mr Arul Kanda is welcome to sue Sarawak Report on the basis that Jus[...]

Partying & "Investing" With 1MDB's Money?


'King Khadem' And His Sovereign Wealth! - IN DEPTH INVESTIGATION26 Sep 2015(Reproduced with permission) Khadem’s pad has hot water issues!The most expensive mansion in Beverley Hills (reputedly) glitters with glass atop a cascading hillside of manicured terraced lawns – its projected price tag is around US$45 million plus.According to court depositions, however, a recent Arab guest at the property was unimpressed by a temporary lack of hot water in the Palumbo designed futurist fantasy, which has sparked a revealing row about its ownership.When the house changed hands last year (following a total rebuild by top designer Michael Palumbo) the cash buyer was announced to have been a British born ‘nightclub mogul’ named Neil Moffitt. However, this was questioned.Neil Moffitt – genuine mogul or just a front for Walker Tower penthouse buy?Commentators at the time referred to raised eyebrows that even a man with the reported income of Mr Moffitt (it had just been announced he had sold his company Angel Management to the Hakkasan nightclub chain for some US$100 million) could have afforded such an expensive property.After all, this was pretty much at the same time as he was also being identified as the buyer of yet another record breaking purchase, a US$50 million penthouse flat (now up for re-sale for US$70 million) in the Walker Building in New York.Priciest purchase ever in just 5 minutes – was it Moffitt or was it Khadem?So was he the real buyer?Moffitt, according to our researches, has had a checkered career as an ‘impresario’, since starting out as a bar owner in his native Stratford upon Avon before gravitating to Las Vegas.In 2009 he was broke, say insiders, following the closure of the Vegas club he was managing by the name of ICE.He was forced to sell up his dance music company by the name of Godskitchen, in order to fund a divorce from his British wife.But, some point in the following year he struck a lucrative encounter with a man of apparent enormous means, whose obsession with nightclubs had seen him perhaps inevitably gravitate to Moffitt’s current corner of the globe.This was Khadem al Qubaisi, who was soon to also link up with Malaysia’s most controversial businessman Jho Low both in business and on the nightclub scene:“Moffitt was like a lousy shark hanging around looking for rich fools and both Khadem and Jho Low floated in around the same time – Moffitt netted them both and the rest is history” was how one Vegas insider observed the situation to Sarawak Report.“All the stories about KAQ [Khadem Al Qubaisi] not being happy he did not get the table he wanted in Wynns is a load of rubbish, simply Moffitt used his usual gift of trying to find money explaining Vegas could be taken. KAQ jumped at the opportunity and today we see why” .Subtle? – promoting Hakkasan, Al Qubaisi’s instant US nightclub phenomenon…..  girls and bits of girlsReferring to Jho Low’s own arrival on the Las Vegas nightclub scene sometime later in 2010 the same observer reflects:“Did Moffitt introduce KAQ to Low? I would bet 99% on this, as Moffitt liked to play the matchmaker and the more wealthy people he knew made himself look bigger.  KAQ and Low like the girls and everything around it, Moffitt had seen the weakness in KAQ and pushed him into having his own clubs. KAQ was a sort of very rich nobody in Las Vegas until Moffitt promoted him through Hakkasan – then the girls were non stop. Low same thing as KAQ – ugly but with deep pockets – they are now like the three best friends on the planet.”Manager Moffitt – [...]

Will The Malaysian Kleptocrat PM & His Gang Of Thieves Finally Be Brought To Justice?


Confirmed - US Authorities Have Investigated 1MDB Since March22 Sep 2015(Reproduced with permission) Welcome to America Mr Prime MinisterFollowing media reports in the United States, Sarawak Report can confirm that this news site handed over extensive data about 1MDB to a joint US investigation team back in March.It means that the development fund and its prime fixer Jho Low, who holds American citizenship, have been under the scrutiny of US law enforcers for several months, during which time Low has posed as one of the country’s most generous philanthropists sitting on numerous boards, including that of the UN Foundation and National Geographic.The law enforcement team, which travelled to London to collect the material, included staff from the Department of Justice’s Kleptocracy Asset Recovery Department and members of the FBI.Jho Low and celebrity pals in the USSarawak Report has also provided similar data to the UK authorities and the Swiss authorities in recent days and weeks.However, we can confirm we have received no such requests from the Malaysian authorities, who have chosen instead to incorrectly accuse Sarawak Report of failing to report the matter to the forces of law and order.Much of the documentation received by the US and other jurisdictions relates to the 1MDB PetroSaudi joint venture set up in 2009 and it was originally provided by the Swiss national Xavier Justo, who is currently jailed in Thailand owing to denunciations against him by former PetroSaudi colleagues involved in the deal.PetroSaudi Director Patrick Mahony went to Thailand to denounce Justo for spilling the beansThese individuals, currently themselves walking free, include the London based PetroSaudi directors Patrick Mahony and Timothy Buckland.Neither of these men nor Jho Low have attempted to take legal action against Sarawak Report, despite their accusations of fraudulent reporting.Together with Malaysian officials and UMNO media outlets, PetroSaudi have instead concentrated in recent weeks on their attempts to discredit Justo and their allegations that Sarawak Report ‘tampered’ with the evidence and supposedly ‘doctored’ documents.Despite the complete lack of evidence behind such allegations, the Malaysian Government has responded by banning Sarawak Report, issuing an arrest warrant and attempting to place its editor on the Interpol Red Notice list.However, these aggressive tactics have started to unravel just as the Prime Minister has set off on his first international tour since the 1MDB crisis struck his administration.Vindicated by the Malaysian High Court – The Edge Editor Ho Kay TatYesterday, The Edge newspaper, which also received copies of Justo’s material and reached the same conclusions as Sarawak Report about the missing billions of ringgit siphoned out by Jho Low, was yesterday vindicated by the Malaysian High Court, which ordered the Home Ministry ban on the newspaper should be lifted.And Najib Razak now finds himself flying into New York amidst widespread reports that he is being investigated over PetroSaudi and also the US$681 million, which Sarawak Report revealed had been paid into his personal account just before the last election.Najib’s 1MDB dealings with Goldman Sachs are also a major target for US investigators, after the US bank set eyebrows rising over the unusually high rates for money it raised for their Malaysian client.Wanted in Malaysia, living in luxury in New York. 1MDB’s Jasmine Loo has been found!And in yet a further development, the New York Times has revealed that its journalists have track[...]

The Mastermind Behind The Mastermind?


Larry Low On List Of Frozen Swiss Accounts! - EXCLUSIVE5 Sep 2015(Reproduced with permission) Swiss account frozen over 1MDB connections – Larry Low Hock Peng, Jho Low’s Dad.A shocking new line of enquiry has emerged, following the freezing of 1MDB related accounts by the Swiss authorities last week, Sarawak Report has learned.We are reliably informed that one of several individuals whose accounts have been frozen is Larry Low Hock Peng, the father of the billionaire youth tycoon, Jho Low.The sums involved were described by the Swiss Attorney General office as ‘several tens of millions’ of dollars in its official statement. However, we have been told they in fact total hundreds of millions.Larry Low has long been regarded as a key lynch pin behind his twenty something son’s stellar rise, thanks to Jho’s close connections with school pal Riza Aziz, who brought him into the Najib/Rosmah household from an early age. The Low brothers (left Jho, right Szen) manage Jynwel Capital, the investment tool of billionaire playboy Jho Low – however Larry has also tied into their business interests.Larry’s other son Szen Low is also heavily connected with his brother’s business in his role as Group Managing Director of the family firm Jynwel Capital.Trail from Good Star LimitedInvestigators believe that Larry Low formed part of the trail for money originally siphoned out of 1MDB in its first joint venture deal with PetroSaudi back in 2009.US$700 million was removed from the initial US$1 billion investment by 1MDB, under the guise that it was a repayment of a loan by PetroSaudi to its joint venture subsidiary.That money first went to the company Good Star Limited and was paid into an account opened on the day after the deal at RBS Coutts bank in Zurich.A further US$330 million was paid into Good Star in 2011, according to investigation documents released by Sarawak Report in April and documents from PetroSaudi also suggest that US$160 million more was paid into Good Star as part of a Muharaba loan to PetroSaudi in September 2010.This produces a total sum of US$1.29 billion that initially came into the Coutts Zurich Good Star bank account.The brothers are joint stars in glitzy corporate videos for Jynwel1MDB and PetroSaudi have subsequently attempted to allege that Good Star was owned by PetroSaudi.However, Sarawak Report has strong evidence that the real controller was Jho Low himself.Likewise, although Low has always denied he had anything to do with 1MDB or its PetroSaudi joint venture, extensive documents in our possession prove that he was the mastermind behind the joint venture between the two companies.Crucial evidence from investigations in Singapore, also released by Sarawak Report last April, has confirmed the Good Star connection with Low and proved money that came from Good Star subsequently flowed into Jho Low’s personal accounts.Money transfers from Good Star Zurich to Jho Low’s beneficially owned ADKMIC account in BSI SingaporeThe Singapore branch of BSI bank has informed the authorities (see above) that US$530 million (US$ 528,956,027.05) passed from the Good Star Coutts Zurich account into Jho Low’s own accounts at the bank in a series of payments after the PetroSaudi deals.Yet, whilst this evidence proves that Low, 1MDB and PetroSaudi were lying when they claimed that Jho Low had no involvement or interest in the joint venture or Good Star, it only accounts for some of the money.Sarawak Report has now learnt that much of the balance of the US$1.29 billion haul from 1MDB passe[...]

1MDB Still Trying To Mislead?


"Binding Agreement" Or "Engaged In Discussions"? - 1MDB's Multi-Billion Dollar Muddle26 Aug 2015(Reproduced with permission)This post is also available in: Malay  CEO Arul Kanda went on TV this month to say the  IPIC agreement was a “signed” “guarantee” to pay off 1MDB’s debts – now it turns out discussions are still ongoingThe 1MDB bail-out involves billions of dollars (and a growing number of ringgit each day as the exchange rate plummets) yet the company has now shed utter confusion about what if anything has been agreed.After the sensational story emerged this morning that Abu Dhabi’s IPIC are minded to extract themselves from a shadowy deal conducted by fired former CEO Mohammed al-Husseiny to pay off 1MDB’s debts, the Malaysian development fund issued denials knotted in self-contradictions.Singapore’s Business Times had quoted an unnamed source linked to IPIC, who had told the newspaper “The deal is as good as off”.This brought the rapid ‘denial’ from 1MDB’s own CEO Arul Kanda, who has been all over the news in recent weeks telling Malaysia that the bail-out deal was a solid, signed solution to the company’s woes.But, the wording of today’s ‘denial’ can only sound alarm bells for Malaysians worried about 1MDB’s inability to fund its liabilities, now totalling a shocking US$11 billion:“We note a speculative article carried by The Singapore Business Times this morning which relies on a conversation with an unnamed source to suggest that 1MDB’s binding agreement with IPIC is ‘as good as off'” [stated 1MDB].“1MDB strongly denies this unproven allegation and in fact confirm that 1MDB remains engaged in discussions with IPIC, to conclude the transaction per the terms as officially announced by IPIC to the London Stock Exchange on June 10 2015,”The statement continued sanctimoniously:“1MDB is disappointed that a hitherto respectable and licensed publication such as the Singapore Business Times appears to carry a story based solely on unproven remarks by an unnamed individual. Such speculative reporting, which has no grounding in the facts, is clearly unprofessional and unnecessary.”Why should 1MDB, which has a track record of lying and mismanagement, expect people to accept their ticking off of this “hitherto respectable publication”, particularly since Kanda’s statement blatantly contradicts itself?Either 1MDB has a “binding agreement” with IPIC or the two remain “engaged in discussions” – how can it be both?!A Term Sheet is not an agreementExamination of the evidence plainly reveals the actual situation.In June the London Stock Exchange published an announcement that the two companies had signed “a binding term sheet” regarding the proposed bail out of 1MDB by IPIC.A “binding term sheet” is not a binding agreement.A “binding term sheet” is not “a binding agreement” as Mr Arul Kanda has so blatantly claimed and as a senior businessman engaged in these negotiations he must know the technical distinction painfully well.Our research has clarified that what was announced in June was merely the standard precursor to an agreement, which needs to be made public for listed companies.A term sheet contains the binding details that are agreed in advance of further negotiations over whether or not to actually proceed with a deal under those terms. These terms do not bind either side to actually sign the agreement, which happens at a later stage.The publication of the term [...]

1MDB: Siapa Kata Sudah Dijawab?


(Comments by Sarawak Headhunter in red)   (The Star) – Allegations on 1MDB ranging from Terengganu oil almost being used as collateral and Tabung Haji deposits used as a bailout to claims that investment returns went into controversial businessman Jho Low’s accounts have all been answered.ALL the answers are merely recycled bare denials, as if anyone and everyone must take 1MDB's word for everything. 1MDB has absolutely no credibility left and this book is a feeble attempt at shoring up its rotten foundations. A book titled Siapa Kata Tidak Dijawab (Who Says It’s Unanswered), in explaining the Terengganu issue, said that in 2009, discussions between the federal and state governments were held over the issue of contribution of each party to Terengganu Investment Authority (TIA) where the initial plan was for it to have a paid-up capital of RM11bil.Among the plans was for the Government to guarantee the raising of sukuk worth RM5bil by TIA but the state government eventually decided to pull out of the deal.“In September 2009, TIA became a federal agency and was renamed 1MDB. Therefore, there is no issue of 1MDB trying to use the state’s oil and gas as collateral,” it said.There is no question of using the state's oil and gas as collateral, since these are all vested in Petronas, rightly or wrongly. There was probably a half-cocked idea to use Terengganu's royalty share from oil and gas as collateral or leverage (such as by capitalising future earnings, like Daim did with the future toll revenues of PLUS), thus enabling the immediate "unlocking" of billions of ringgit of future revenue.Since the state government, who had rights to the royalty, would have been averse to the idea, having no control over those revenues and potentially losing out in the future, this idea probably had to be aborted.So of course now there is no such issue. But it certainly would have been an issue at the time.   The book also explained that the purchase of land by Tabung Haji was not a bailout, pointing out that discussions to buy a plot of land at Tun Razak Exchange went on as early as 2013 and that Tabung Haji was interested as the company wanted to be involved in the development of an international financial hub.What happened to this so-called "international financial hub"? Has that also been aborted or merely waiting for the bailout of 1MDB to take place? Given 1MDB's present dire position, everything that it does which involves other government agencies such as Tabung Haji could rightly be categorized as a bailout, irrespective of the actual intentions of Tabung Haji. It clarified that Tabung Haji did not buy the lot to develop “Signature Tower” but had bought a lot – at a discounted price of RM2,860 per sq foot and located at a prime area in TRX – to develop some serviced apartments.This raises more questions than answers. What has the development of serviced apartments got to to with the avowed interest of wanting "to be involved in the development of an international financial hub"?What price did 1MDB buy the land for? Is the price really at a discount if it is above the current market value?  In the book, it was also denied that any money from 1MDB had gone into Low’s accounts or that of any third party, after PetroSaudi returned US$2.318bil to the company which comprised initial investment of US$1.83bil and US$488mil in revenue.Show then where the money actually went to. Mere denials are insufficient. What happened to this money that had purp[...]

Shameless Malaysian Police Attempt To Abuse International Law Enforcement Through INTERPOL


REFUSED! — INTERPOL Rejects Najib’s ‘Red Notice’ Request Against Sarawak Report(Reproduced with permission)  Terrorism laws have been widely abused to silence media criticism of Najib in MalaysiaINTERPOL have moved swiftly to publish their refusal of Malaysia’s request to issue an international ‘Red Notice’ alert for the arrest of Clare Rewcastle Brown, Editor of Sarawak Report.In a letter to the London based NGO Fair Trials International today the Secretary General of INTERPOL, Jurgen Stock, informed that the global police organisation has decided to reject Malaysia’s request outright.In a personally signed letter, headed ‘Subject Clare Rewcastle Brown’, the Secretary General confirmed he had been in receipt of a request by Malaysia, which was reviewed on 9th August in line with their standard operating procedure and that the Red Notice had been refused.The Secretary General went on to assure Fair Trials, which had written for confirmation about the status of the journalist, that all 190 member countries of Interpol had been informed of this decision, meaning she can travel internationally without further harassment or fear of arrest.Crushingly, Jurgen Stock added that member countries were further advised not to used Interpol’s channels in this matter and requested to remove all data from their databases as well — it is a telling indication that the organisation is of the opinion that their processes, which are designed to catch dangerous criminals, had been abused by Malaysia.The letter addressed to Jago Russell, the Director of Fair Trials stated:“Whilst INTERPOL does not usually comment on specific cases or individuals, in the light of the significant press interest in this case we can confirm that INTERPOL’s General Secretariat did receive a Red Notice request for Clare Brown from Malaysian authorities.In line with our standard operating procedure a review was conducted and on 9thAugust the request for the Red Notice was refused. All 190 member countries were informed of the decision and advised not to used INTERPOL’s channels in this matter and also requested to remove any data from their national databases.”Segment of the letter from INTERPOLAbuse of Interpol a growing concernFair Trials had taken up the case as an example of what the NGO regards is a worrying trend on the part of certain oppressive regimes to abuse INTERPOL in order to clamp down on legitimate dissenters.According to a warrant issued by a Kuala Lumpur court on 4th August the charges against the Sarawak Report Editor were under Section 124B and 1241 of the Penal Code, which form part of new laws brought in by Najib Razak in 2012 supposedly to counter terrorism.Mohamad bin Salleh, the Director of the Crime Investigation Department of the Royal Malaysia Police then issued a triumphant press release, announcing that Interpol and Aseanpol would be immediately alerted with a view to gaining extradition of the journalist from countries worldwide.The grounds for the supposed criminal offence simply do not exist in most countries, however, and hardly appear to merit equating a female journalist with the armed hijackers and terrorists who are normally placed on this list.Press Notice from the Royal Malaysia Police this monthThe move against Sarawak Report was part of a wider clamp down on the Malaysian media and opposition leaders, which has come in the wake of revelations about the misappropriation [...]

The Elusive Truth Of Najib's 1MDB Scam


Red Alert - More Transparency Needed Over US$3 Billion Raised By 1MDB!9 Aug 2015(Reproduced with permission) One guess for the mystery donor is this Middle Eastern gentleman – the man who eventually claimed he bankrolled son Riza’s Wolf of Wall Street – Al-husseiny was the Chairman of Falcon Bank in 2013 and is still the CEO of Aabar.Rumours are swirling that the Prime Minister is soon to produce his ‘Middle Eastern Donor’ for the secret US$680 million that went into his private account just before the last election.Even his Deputy PM and Chair of UMNO had no knowledge of the money, but Najib says it was intended to be spent on the party and its election campaign – that it was “not for personal use”.With no further details forthcoming on the matter the rest of the world has scant evidence beyond the word of the Prime Minister himself on these matters, which is hardly very satisfactory.If UMNO was a properly handled sort of organisation, donations to the party would have instead been recorded and the expenditures itemised.There is also the small matter of election law, given there are limits on party spending, which have been exceeded several times over by this princely fortune that Najib secretly acquired.Yet, Najib has shown himself irritated by the largely silent dismay with which much of the rank and file of UMNO have received the unfolding news of the way their leader chose to handle money allegedly given on their behalf.Yesterday his rant was telling:“What is happening is that they [UMNO rank and file] keep quiet when they get the money but when I’m being attacked, everyone keeps quiet,” [Najib Razak 8th August]So, if someone purporting to be the “donor” is now dragged reluctantly into the limelight to get Najib off the hook will anyone be particularly impressed?This money was not correctly nor legitimately handled and frankly, a statement that X or Y ‘donated it’ ought no longer be enough.Time for TransparencyTransparency is the friend of the righteous and if Najib is so very innocent in this affair he and his ‘donor’ must go the whole hog – we should see all the transactions surrounding this ‘donation’ and then people may at last start to believe a man who has become famous for his changing stories over 1MDB.Who owns Tanore Finance Corporation BVI with an account at the Aabar owned Swiss Falcon Bank, Singapore branch?The ‘donor’, for a start, will need to confirm that he was indeed the account holder for Tanore Finance Corporation (BVI) at Falcon Bank in Singapore in March 2013.This is something that can be checked by the regulatory authorities, of course, so best not to lie.The ‘donor’ and indeed banks such as Wells Fargo ought also to explain why crucial information about the identity of the donor and the recipient were left off the transfer documents, which in fact described the transfer as a “payment”.Incomplete details for a tranfer… i.e. the names are missing.If the relevant banks, including Wells Fargo, failed to obtain and register this information they will have transgressed money laundering regulations – for a very serious amount of money indeed.The Aabar ConnectionMost importantly, there also needs to be transparency over the murky and distinctly related-looking money raising activities by 1MDB and Abu Dhabi’s Aabar fund, which so neatly coincided with this strange and as yet unsubstantiated ‘donation’ in 2013.[...]

Gameplan Of The 1MDB Scam Of Najib Razak & His Gang Of Crooks


Was Aabar's Khadem Al-Qubaisi Connected To Your Secret 'Donation', Prime Minister?6 Aug 2015(Reproduced with permission) Was Aabar’s Kadem your secret donor Najib?There are three outstanding elements to the present investigations over 1MDB.These are the whereabouts of the missing US$1.3 billion siphoned from the PetroSaudi deal into the PM’s proxy Jho Low’s companies; the whereabouts of RM4 billion borrowed from Malaysia’s pensioners by 1MDB’s former subsidiary SRC International and the whereabouts of monies that have evaporated out of various development and power purchase deals made in tandem with Abu Dhabi’s Aabar fund – formerly headed by the now sacked Khadem al Qubaisi.It was a sum of RM27 million (out of a total of RM42 million) traced from SRC International into the private account of Prime Minister Najib Razak in December, which formed the basis of a charge sheet that was drafted by the former Attorney General, just before he was shockingly sacked last week.Separately, the Parliamentary Accounts Committee was trying to interview key players in the PetroSaudi deal, including businessman Jho Low and former Chief Executive Shahrol Halmi, before its hearings were forcibly shut down on the order of the Speaker.MACC Pressed Into ServiceSpecial Branch raids and arrests at Malaysia’s Anti-Corruption Commission’s offices this week – and the removal of crucial evidence gathered in their enquiriesMeanwhile, action was taken Wednesday to try to explain the US$680 million that was posted into the PM’s personal AmBank account just before the calling of the General Election in 2013 – a matter also revealed by the enquiry into 1MDB and published by the Wall Street Journal and Sarawak Report.An anonymous statement was produced from the MACC (Malaysian Anti Corruption Commission), which claimed its investigators had ‘cleared’ the Prime Minister on this matter, because the agency could confirm that the money was a “donation” from an ‘undisclosed source’ from the Middle East and nothing to do with 1MDB.This statement was surprising, not least because it came only hours after the MACC had clarified that the issue of the US$680 million did not come into the remit of its own enquiries.There are four official task forces looking into the missing billions from 1MDB and the MACC explained that its own officers are focused only on the money related to the SRC International transactions.Several MACC officers have been arrested and interrogated over the “criminal leakage” of documents published in Sarawak Report – documents which had earlier been denounced as “forgeries”, including a charge sheet against the Prime MinisterNevertheless, following a number of police roundups, interrogations and confiscations of materials from the MACC offices, this new line of enquiry appears to have been rapidly opened and completed within hours, thanks to information gleaned from an interview with the PM himself, who had explained the matter to the MACC’s apparent satisfaction.No details have been given about the ‘donation’ or who had made it or why – leaving more questions than answers in the minds of Malaysians.  However, Najib has declared that it was “not for his personal use” and implied he spent it on party and election expenses.Since it has been pointed out that this ‘donation’ amounts to roughly the entire sum raised by President [...]

Press Statement from Clare Rewcastle Brown (Sarawak Report)


I have been asked for response on this latest move by the Malaysian authorities to attempt to extradite me by issuing a warrant for my arrest, which they say they will pass to Interpol. My first comment is that this action could hardly be more counter-productive on the part of a government that is seeking to assure the world that it is a sane democracy. My action has been to publish information, which some in power do not like. Yet, the 'crime' they are accusing me of is of "an activity detrimental to democracy". It is they who are being detrimental to democracy by suppressing free speech and arresting people for questioning people in authority. I am still unclear whether the agents of the Prime Minister are accusing me of "forging false documents" or obtaining documents through "criminal leakages", since they have simultaneously accused me of both in the past few days and have been rounding up all sorts of senior investigators to try and find out who might have passed me such leaks. They need to make up their minds about this before they bring their charges and they really ought to produce some substantive and convincing evidence of their other accusation that I am part of some international plot intent on falsely accusing the Prime Minister of crimes for reasons unknown. I am merely an investigative journalist who has been doing my job, by unravelling one hell of an international scandal involving people in high places and the grand larceny of public monies. It's as simple as that - no plot and no vested interest. The interest of the public is my motivation and duty. Conversely, the public are at liberty to reach their own conclusions over what has motivated the recent actions of the Prime Minister of Malaysia, who has spent the past few days, sacking, removing and arresting just about anybody who has been officially engaged in investigating the scandal I have been reporting on - the missing billions from 1MDB. Moreover, he has not just attacked my blog and myself, but other reputable news organisations, closing down two papers in Malaysia. If the Prime Minister had nothing to hide in this matter and if my reports were false there would be numerous more orthodox and far less disruptive methods of dealing with me than sacking his Deputy Prime Minister; sacking the AG; closing down the PAC and dismissing members of his cabinet. He could simply have issued libel proceedings or he could have produced evidence (e.g. correct bank statements and transfer documents) that would have shown my reports to be untrue.  [...]