1MDB TRAVELS TO SABAH: EXPLAIN US$3.5BIL SIPHONED OUT TO JHO LOW’S FIRMS – YOUTH GROUP LODGES POLICE REPORT

Kota Kinabalu – Parti Amanah Negara (PAN) Sabah Youth wing lodged a report with the police to call for investigations into an alleged USD3.5 billion (RM15.5 billion) that it claimed was paid fraudulently by 1MDB to a subsidiary company, Aabar Investment PJS (Aabar) under Abu Dhabi’s International Petroleum Investment Co (IPIC) towards settling a debt dispute.Its Youth Chief Khairuddin Daud said he lodged the report here on Wednesday after he read a news report in a portal on April 24 this year that IPIC via its statement to the London Stock Exchange confirmed an agreement on a settlement of claims at London International Courts was made by IPIC and Aabar against 1MDB and the Malaysian government.

He said that Ministry of Finance (MoF) would assume responsibility and discharge contract obligation between Abu Dhabi IPIC (Abu Dhabi) and 1MDB (Malaysia) to settle all future interest and total principal payments with USD1.2 billion comprising USD602.7 million to be paid as early settlement on July 31 and Dec 31, this year.

Khairuddin claimed two bonds valued at USD3.5 billion and USD 1.75 billion that are to mature by 2022 were part of the settlement of claims to settle the debt dispute which showed that USD3.5 billion issued by 1MDB was paid between 2012 and 2014.

Hence, he said the party urged the police to open an investigation paper to look into the payment of USD3.5 billion to Aabar which he believed was being paid fraudulently.

–¬†http://www.dailyexpress.com.my

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