‘TIN KOSONG’ ANWAR PICKS GOLDMAN SACHS CRITIC JOHARI GHANI TO LEAD 1MDB TASK FORCE – A MOVE THAT WILL LIKELY BE LAUDED – WHILE QUIETLY ALSO APPOINTING HIS OWN PKR MP BAKHTIAR TO HEAD MYCREATIVE VENTURES – IN MOVE THAT IS LIKELY TO BE PANNED

Business, Politics | March 10, 2023 10:33 am by | 0 Comments

Datuk Seri Johari Abdul Ghani arrived at the Parliament building on December 19 before the confidence vote and election of the new Dewan Rakyat speaker.-AZMAN GHANI/The Star

PM appoints Johari to lead 1MDB task force

Anwar Ibrahim says he agrees with the Titiwangsa MP’s criticism of the US$2.5 billion settlement with Goldman Sachs.

Last month, Titiwangsa MP Johari Ghani said Malaysia had been short-changed in the settlement with Goldman Sachs over the 1MDB scandal.

PETALING JAYA: Titiwangsa MP Johari Ghani has been appointed by Prime Minister Anwar Ibrahim to lead a task force meant to “resolve matters” involving the 1MDB scandal.

According to Bloomberg, Anwar said he agreed with Johari’s criticism of Putrajaya’s US$2.5 billion settlement with Goldman Sachs over the scandal. The settlement with the investment bank was reached in 2020, when Muhyiddin Yassin was the prime minister.

“I myself disagree with the past decisions, which were too light when the understanding was made. Goldman Sachs profited off our hardship and pain,” Anwar told the Dewan Rakyat yesterday.

In 2020, the Muhyiddin-led government reached a settlement with Goldman Sachs that involved the investment bank paying the government US$2.5 billion in cash and guaranteeing the return of US$1.4 billion in 1MDB assets seized by authorities around the world.

Last month, Johari urged Putrajaya to investigate the role of those involved in Putrajaya’s settlement with Goldman Sachs, saying Malaysia had been short-changed in the matter.

The former second finance minister said Goldman Sachs acted as the financial adviser and lead manager for three bonds issued by 1MDB worth US$6.5 billion, earning US$606 million in fees in the process.

Johari also said the criminal conviction of two former Goldman Sachs employees pointed conclusively to the “questionable” nature of the 1MDB settlement.

The Barisan Nasional MP pointed out that former Goldman Sachs bankers Tim Leissner and Roger Ng were part of the bank’s senior management, claiming they were essentially at the heart of the 1MDB fraud.

“Their wrongdoing can be attributed to Goldman Sachs to hold the bank fully accountable for all 1MDB losses,” he said. FMT

PKR MP appointed chairman of MyCreative

The company is a wholly owned subsidiary of Minister of Finance Incorporated and reports to the communications and digital ministry.

Former deputy tourism, arts and culture minister Bakhtiar Wan Chik’s appointment as MyCreative’s chairman takes effect today.

KUALA LUMPUR: Former deputy tourism, arts and culture minister Bakhtiar Wan Chik has been appointed chairman of MyCreative Ventures Sdn Bhd.

The appointment takes effect today.

Bakhtiar, 57, replaces Noor Azmi Mat Said, whose two-year term has expired, said MyCreative Group CEO Junady Nawawi in a statement.

He said Bakhtiar, who is the Balik Pulau MP, can help bring local entrepreneurs and arts activists to the global stage with his vast experience in development and strategic planning, as well as his interest in art, culture and heritage

“It is our collective goal to ensure that MyCreative gives a positive impact on all stakeholders in the creative ecosystem, including artists, entrepreneurs, investors, and the community,” he said.

Junady also expressed his appreciation to Noor Azmi for his contributions to the development of the creative industry.

In the same statement, Bakhtiar said the orange economic sector has the potential to play an important role in contributing to the country’s gross domestic product (GDP).

“I am committed to working hard with the MyCreative team to achieve this goal and help ensure the continued success and growth of the creative industry,” he said.

MyCreative is a wholly owned subsidiary of Minister of Finance Incorporated and reports to the communications and digital ministry with the objective of advancing Malaysia’s creative industry through strategic and innovative investment. FMT

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