Jho Low invited to Forum on 1MDB Scandal and Najib

Jho Low invited to Forum on 1MDB Scandal and Najib

This is an excellent opportunity for the Penangite to turn up in Shah Alam and clear his name on the 1MDB Scandal.

I extend an open invitation to Penangite Jho Low  to attend and answer all charges against him on the global RM50 billion 1MDB Scandal at a forum in Shah Alam on Wednesday, “Has the PAC Report on 1MDB exonerated Prime Minister Najib Abdul Razak from wrongdoing on the RM50 billion 1MDB scandal?”

The Shah Alam forum on Wednesday would be a great opportunity for Jho Low to clear his name.

There would be no excuse for the Communications and Multimedia Minister Salleh Said Keruak to refuse to televise live the forum through the slot on the RTM programme called “Democracy”.

Besides Petaling Jaya Utara MP Tony Pua and Jho Low, I also expect parliamentary Public Accounts Committee (PAC) Chairman Hasan Arifin, and former 1MDB CEO Shahrol Azral Ibrahim Halmi to attend as well. There are many questions that Jho Low has to answer on the 1MDB Scandal.

For starters, there’s the transfer of USD700 million to Good Star Limited in 2009. The Wall Street Journal (WSJ) has claimed that Good Star Limited is a company controlled by Jho Low.

The 1MDB Board of Directors never approved such a transfer.

In its Report on 1MDB, the PAC said that Bank Negara had approved the transfer of USD1 billion into the 1MDB-PetroSaudi (PSI) joint venture account on 30 September 2009. On the same day, USD300 million was transferred into the JV accounts in JP Morgan (Suisse) SA.

However, the remaining USD700 million was transferred to an account in RBS Coutts Bank Ltd belonging to a different company not related to the joint venture.

Based on documents furnished by Shahrol on 5 June 2015, and his statement during the PAC hearing on November 25 last year, the account belongs to Good Star Limited, purportedly a subsidiary of the PetroSaudi group since 1 September 2009. Checks by the PAC found that there was no approval by the 1MDB board of directors for the transfer of funds into two separate accounts.

The mysterious and unauthorized payment of USD700 million from 1MDB to Good Star Limited on 30 September 2009 led to the protest and resignation of Felda Holdings managing director Bakke Mohd Salleh from the 1MDB Board of Directors on 19 October 2009. This is the only honourable, honest and decent act to have emerged from the 1MDB Scandal so far.

It would be impossible that Shahrol was solely responsible for the 1MDB Scandal although he was the 1MDB director for seven years since the inception of 1MDB and even when it was Terengganu Investment Authority (TIA). He was the Chief Executive Officer for four years from 2009 to 2013.

On the Internet, Shahrol’s c.v. refers to him as “an expert in value creation in multiple sectors”.

Although Shahrol has proven to be a great disaster on the 1MDB Scandal, I am strongly convinced that he was being unfairly blamed in the PAC Report as the worst culprit in the 1MDB Scandal.

 

Lim Kit Siang

Gelang Patah MP

DAP Parliamentary Leader

 

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