A piece of news that has escaped many people is that on September 1st, 2016, The Wall Street Journal (WSJ) finally admitted that at least USD200 million into Najib’s accounts came from Saudi Arabia sources and at least USD80 million can be directly traced to the Ministry of Finance of Saudi Arabia.
WSJ also said that USD20 million into Najib’s account came from the USD24 million transferred to Prince Faisal bin Abdullah, governor of Riyadh and 7th son of King Abdullah.
I have no idea why the Governor of Riyadh and Saudi Arabia’s Ministry of Finance would help Najib with this money.
WSJ also alleged that from Aabar BVI, about US$637 million went to a company called Blackstone Asia Real Estate Partners in the British Virgin Islands, where it was POOLED with other funds and then a total of USD$170 million to Mr. Najib’s bank accounts in multiple transactions during 2012, bank transfer documents show.
ABC had previously reported that these transfers from BlackStone were backed by a 2011 letter from one Prince Saud AbdulAziz Majid Al Saud from Saudi Arabia who appears to be the then Governor of Madinah Province.
These Aabar BVI funds allegedly came from USD1.4 billion collateral for the USD3.5 billion 1MDB bonds guaranteed by IPIC. This guarantee was never disputed but IPIC had recently denied receiving these collateral – meaning they had guaranteed the USD3.5 billion bonds for fun.
Khadem al Qubasi the shareholder of Aabar BVI’s boss is also Sheikh Mansour and is also the chairman of IPIC’s Chairman.
It is still not clear why IPIC, Sheikh Mansour and Saudi’s Price Saud would help Najib with this USD170 million transfer though.
This revelation of Saudi Arabia’s Ministry of Finance adds yet another level of intrigue and mystery as this means that the USA’s DOJ and WSJ have now accused the governments and high officials and royalties for three different Muslim-majority nations of conspiring to help Najib with funds.
I suspect the real story is more interesting and more complicated than this.
A point also missed out by most people or deliberately not highlighted is that Jho Low graduated from the Harrow School in England and The Wharton School of Business, University of Pennsylvania, in the United States.
A person who is fluent in Arabic, he tells of how at these schools he met and befriended Arab royalty, describing the relationship as being important since how they became friends at such a young age created a great amount of trust between them. He even started a US$25 million investment fund at school with investments from his Arab friends.
The price of MYR7.20 a share represents a 36 percent premium (3.1 times book value) to the bank’s current price. Based on the purchase price, the deal is the ‘largest investment to date of a Middle East investor into the Malaysian financial sector,’ said Employees Provident Fund (EPF),
This money came from funds guaranteed by Aabar BVI from the USD3 billion 1MDB bonds raised in 2013 after the Crown Prince of Abu Dhabi HRH Sheikh Mohammed bin Zayed Al Nahyan came to Malaysia to sign a JV with 1MDB.
Recall that our AG had said all the transfers including the USD681 million were backed by a letter from various Saudi royalty and that MACC had interviewed all the witnesses.
For the last transfer, it is also not clear why Crown Prince Sheikh Mohammed and Khadem’s Aabar BVI would assist Najib with this transfer.
H.E Khadem Abdulla Kadem Butti Al-Qubaisi served as Managing Director, Chief Executive, and Director at International Petroleum Investment Company PJSC, since May 2007.
He is a close confidante of IPIC Chairman Sheikh Mansour, who is the deputy prime minister of the United Arab Emirates, minister of presidential affairs and member of the ruling family of Abu Dhabi. He is the half brother of the current President of UAE, Khalifa bin Zayed Al Nahyan.
Khadem was named at number 14th spot in Gulf Magazine’s 2014 list of the Top 100 World’s Most Influential Arabs, and included in the Oil & Gas Power Middle East top 50 in 2011.
He received the Arabian Businessman of the Year for 2009 in the UAE, and also received the coveted #1 Award as the ICIS Power Player of the Year 2009.
He served as the Managing Director of IPIC from 2007 to 2015 and served as the Chairman of Aabar Investments PJSC from 2012 to 2015..
H.E. Al-Qubaisi served as Managing Director at National Central Cooling Company PJSC since May 2011.
He serves as Chairman of Compania Espanola de Petroleos S.A. and Aabar Properties LLC. H.E. Al-Qubaisi serves as Co-Chairman of First Energy Bank. He serves as the Chairman of First Gulf Bank PJSC.
He has been the Chairman of Supervisory Board of NOVA Chemicals Corporation since January 1, 2011. He served as the Chairman of Supervisory Board of Arabtec Holding P.J.S.C., since May 2012.
He served as the Chairman of First Energy Bank B.S.C.(c) until March 2016. He served as the Chairman of Arabtec Holding P.J.S.C. from May 08, 2012 to May 2015. He served as the Chairman of the Board at NOVA Chemicals Inc.
He served as the Chairman of the Board at NOVA Chemicals Corporation since January 01, 2011 and served as its Director from January 01, 2011 to April 22, 2015.
He served as the Chairman of Hakkasan Limited until April 14, 2016. He served as the Chairman of Supervisory Board at Borealis AG from March 5, 2010 to April 2015.
He served as the Chairman of National Central Cooling Company PJSC and Falcon Private Bank Ltd. He served as Chairman of Abu Dhabi National Takaful Company P.S.C. until August 5, 2014.
He served as the Chairman of Gulf Energy Maritime PJSC until June 2008. He has been a Deputy Chairman of Supervisory Board at OMV Bulgaria OOD since May 2010. He has been a Vice Chairman of Duqm Refinery and Petrochemical Industries LLC since July 2012.
He served as Deputy Chairman of the Board of Supervisory Board of OMV Aktiengesellschaft from May 26, 2010 to May 10, 2012 and served as its Member of Supervisory Board. He served as Vice Chairman of Supervisory Board at Borealis AG.
He served as Vice Chairman of UniCredit S.p.A. from May 2012 to October 2012 and served as its Director until October 2012. He served as a Member of Supervisory Board at Borealis AG from March 5, 2010 to April 2015.
He served as a Member of Supervisory Board of AMI Agrolinz Melamine International GmbH and Borealis Agrolinz Melamine GmbH. H.E. Al-Qubaisi serves as a Director of ChemaWEyaat and Board Member of Emirates Investment Authority.
He serves as a Director of Abu Dhabi National Chemicals Company. He served as a Director of Arabtec Holding P.J.S.C., from April 28, 2012 to May 2015. H.E. Al-Qubaisi served as a Director of First Gulf Bank PJSC, National Central Cooling Company PJSC and Hyundai Oilbank Co., Ltd.
It is almost unthinkable that a person such as this would assist our PM to misappropriate money – especially since he was holding a couple of billion of UK Pounds of Barclay Banks shares in his own name in 2008 (before 1MDB even existed or had any money).
It is still not clear to most people why would Najib want to allegedly steal money that is borrowed. Money that is borrowed would eventually have to be repaid. If someone really wanted to make money, it would have been easier to do lop-sided Independent Power Plant deals at the expense of the rakyat like a past Prime Minister where you could be guaranteed at least RM1 billion per year.
Wall Street Journal in their report titled “1MDB Probe Shows Malaysian Leader Najib Spent Millions on Luxury Goods” where they reported that Accounts of prime minister paid out US$15 million for clothes, jewelry and a car.
“Of the apparent personal spending, one of the most regular recipients of funds from Mr. Najib’s accounts was Jakel Trading Bhd., a Malaysian luxury clothing retailer. Between 2011 and 2014, Mr. Najib transferred over US$14 million to Jakel, according to the documents.
There was a recorded expenditure on June 28, 2011, at Signature Exotic Cars, a car dealership in Kuala Lumpur, for US$56,000. Signature’s managing director, Daniel Lim, didn’t respond to a request for comment.” reported WSJ.
I think most Malaysians would know that Jakel Trading is nowhere near to being a luxury clothing retailer. They are famous for cloth, for prayer mats and for Islamic clothing. It is well-recorded that various NGOs and UMNO itself had regularly contributed prayer mats and clothing to various mosques around the country during that period.
This is on the last page (pg 14) of the secret document that George Soros used in March 2016 where he personally lobbied the US govt to disassociate themselves from Najib.
Four months later, the DOJ took civil action related to 1MDB.
Other than saying that Najib is corrupt, a Islamic extremist and too close to China, they also suggested that Najib murdered Kevin Morais and dump his body in a cement drum.
There were 3 major demands by Soros to the USA government.
1) Make the TIP Report independent of political designs
2) Dissociate from Najib…soon
3) Demand Anwar’s release
Under point 3, Soros clearly said that Anwar would be instrumental as the new leader of Malaysia if Najib falls. (So, who says that Soros and the OSF “Malaysia Program” is not political? )
And if Najib doesn’t fall, Anwar can provide the USA Govt with “insight and strategic leverage” on Malaysia.
Which basically means that Anwar can advise the USA Govt how to deal with Malaysia for the USA Govt’s benefit.
I don’t know about you but for Soros to outright say something like this smacks of treachery to me.
Soros also claims that Najib has perverted Islam, wants to implement Hudud nationwide and is a supporter of the IS militants and extremism!
Obviously Soros is telling lies to the USA Govt to pressure them to act against Najib.
Najib is known widely as a moderate and is an assassination target for IS. Our govt had also arrested more than a hundred people suspected of IS activities or planning to go overseas to fight.
Soros also says that Najib will not be too loyal to the USA since Malaysia adopts a neutral policy and that Najib is getting too close to China now.
This document was part of the “Podesta emails” Wikileaks expose that got Hillary Clinton investigated by the FBI and which contributed to her loss in the presidential elections.
On top of this, it must be noted that it is Mahathir’s men in Khairuddin Abu Hassan and also Matthias Chang who were the ones who made all those reports in the Swiss, Singapore, Hong Kong and USA government that made these investigators look into the 1MDB issue.
So far, Singapore has been active in their investigations but between the USA and China, we know who Singapore is more loyal too.
Certainly the political intrigue and power struggle is not just local anymore but has taken on a geo-political dimension.
Time will tell who the real thieves or traitors of Malaysia are.
On top of the various CSR efforts, one thing that local media seldom (Sarawak Report or MalaysiaKini has never mentioned this) is the 8 military bases that 1MDB is paying for and developing. These are now all close to completion.