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(28-10-2015, 12:50 AM)SincereKen Wrote: Come to think of it, Jib Kor has deep pockets and this translates to financing new cabinet skeletons to help propel out of troubles; scot free away unharmed or continue his political obsessions.
A humble opinion to improve M'sia's current system is to let "International Reform Committee" to rule over and command a structural reform in their current political mandate(s). While there is certainly righteous individuals who puts M'sians at the top of their interests, citizens needed to admit that the majority are after the interests of self - Self v.s Social Interests.
Who is to judge? Forget about judging & dissolve the cabinet filled with dark puppets and skeletons.. Let external forces intervene for the betterment of our neighbor with the assumption(s) of spillover effects to SG!
Questionably Insane,
SK
Definitely insane
It is indirectly saying, let outsiders (International?) to decide the nation fate. I doubt any nation will do it willingly.
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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Aussie firm linked to 1MDB under probe
[url=http://www.straitstimes.com/world/aussie-firm-linked-to-1mdb-under-probe#][/url]
SYDNEY • Australian regulators are liquidating a little-known firm that had a key role in managing US$2.32 billion (S$3.3 billion) for scandal-plagued 1Malaysia Development Berhad (1MDB), the Wall Street Journal (WSJ) reported yesterday.
The authorities accused Avestra Asset Management, which focused on Malaysian penny stocks and obscure merger finance, of putting its clients' money at risk in questionable investments, the WSJ said, citing a copy of an affidavit by the Australian Securities and Investments Commission.
The newspaper said that the US$2.32 billion flowed from the Malaysian development fund's first major investment, a joint venture in 2009 with a Saudi oil company that never found any oil and was soon wound down. 1MDB says the money was re-invested in a Cayman Islands fund. But critics, including former prime minister Mahathir Mohamad, have demanded proof that the money is still in the hands of the fund.
Now the dispute becomes more complex as the money appears to have ended up being overseen by a firm that is being shut down by Australian authorities, the WSJ said.
An anonymous source told the US-based newspaper that the probe into Avestra is still ongoing, and that Canberra is willing to cooperate with Kuala Lumpur in the 1MDB investigation.
However, Australian regulators are not looking into Avestra's relationship with 1MDB, but instead at whether retail investors may be at risk. They allege Avestra hid its investments from regulators by routing them through Bridge Global fund, where 1MDB had invested its money.
Malaysian Prime Minister Najib Razak is facing calls to step down over allegations that billions are missing from 1MDB, which he set up in 2009 to further the country's development.
The WSJ reported in July that nearly US$700 million linked to the firm might have found its way into his personal bank accounts.
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More trouble for 1MDB...
1MDB seeks waivers from bondholders
This article first appeared in The Edge Financial Daily, on April 25, 2016.
KUALA LUMPUR: Today is an important day for 1Malaysia Development Bhd (1MDB). It marks the end of a five working days’ grace period for the beleaguered strategic investment fund to pay the US$50 million (RM194 million) interest payment for the US$3.5 billion bond it issued in 2012.
The interest payment was due last Monday. If 1MDB did not make the payment, the fund would be in default. Consequently, this would trigger cross-default for its two other tranches of bonds — RM5 billion Islamic sukuk and RM800 million Social Security Organisation loans — which are both guaranteed by the government.
...
http://www.theedgemarkets.com/sg/article...ondholders
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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1MDB says defaulted on US$50m interest for US$1.75b Langat bonds
KUALA LUMPUR (April 26): 1Malaysia Development Bhd (1MDB) said it had defaulted on the US$50.3 million (about RM198 million) interest payment for the US$1.75 billion bonds issued by its unit 1MDB Energy (Langat) Ltd.
In a statement today, 1MDB, however, insisted that the risk of cross default on other bonds issued by company was limited. The Malaysian Government via Minister of Finance Inc owns 100% of 1MDB.
According to 1MDB, neither the company nor guarantor International Petroleum Investment Co (IPIC) had paid the US$50.3 million interest to 1MDB Energy (Langat) bond holders.
...
http://www.theedgemarkets.com/sg/article...ngat-bonds
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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