Kleptocratic Governance: The Case of 1MDB


April 30, 2015

Kleptocratic Governance: The Case of 1MDB

Investigators into the Malaysian development fund 1MDB’s 2009 joint venture with the company PetroSaudi International have concluded that the partnership lied to its banks and Bank Negara Malaysia by confirming that the company Good Star Limited was a 100% subsidiary.

In fact Good Star Limited is a third-party concern, controlled by the businessman friend of the Prime Minister, Jho Low, whom we have shown was secretly directing the fund’s investment decisions.It leads to possible charges of “cheating”, write the investigators in a document in our possession.

READ ON:

http://www.sarawakreport.org/2015/04/investigators-conclude-1mdb-cheated-and-made-false-document-to-bank-negara-deutsche-bank-and-others-exclusive/

COMMENT:

Yes indeed. we are governed by a bunch of kleptocrats led by none other idris guitarthan Prime Minister Najib Tun Razak. Of course, he disagrees by claiming that his administration is transparent. He thinks he is a paragon of good governance with very qualified professionals like Idris Jala and Paul Low guiding him. If so why this mess! RM42 billion is not peanuts.  Mr Arul, the 1MBD CEO has a lot to answer for this latest development.

What is the Auditor-General doing? Wasn’t he supposed to be looking into the matter as a matter of top priority.  Mr. Transformation Blues from Sarawak, why have you been silent on this issue? It is time  also to remind our Cabinet ministers that they are equally accountable for the 1MDB scandal. It is Governance 101 and they should know that they have a joint responsibility for any wrongdoing made by the Najib administration.–Din Merican

7 thoughts on “Kleptocratic Governance: The Case of 1MDB

  1. With all the on goings, and more is expexted from the octogenarian dr, who also wants to embark on a road show to defend his attack on the one at the helm, wonder how would the drama end???
    The poor rakyat have no power to dictata, but at the receiving ends, feeling the pinch of BarangNaik and Naik. Is this country at the end of the tunnel or still stuck inside the dark tunnel?

  2. Sorry guys, we’ve been Slam Dunk on 1MDB, if ever we manage to recover back perhaps 20% of what’s missing, then we’re lucky, coz it’s gonna take years vis-a-vis the Marcos/Imelda scandal.Right??

  3. PM’s banker brother has proposed that there be a closure on 1MDB. I totally agreed. Why don’t we tie up ALL THE LOOSE END and bring it to a closure.
    Is it such a difficult task with the AG Chambers, MACC, RMP, BNM, AG all roped in including a TASK FORCE set up at the RMP and so much of unsolicited help from SARAWAK REPORT. Who owns GOOD STAR and which Santa Claus sent all the money to its account. Is Good Star a 100% subsidiary of PetroSaudi? Do we need K7 to sniff out the culprit or are we just going to declare NFA after half a decade. Can none of the agencies tasked with getting the answers no find the lack of data in the !MDB computer system puzzling or are we going to say NFA because the system does not have any data to carry out searching for the paper trail?

  4. “Kleptocratic Governance: The Case of 1MDB”

    “Life is a dream for the wise, a game for the fool, a comedy for the rich, a tragedy for the poor.” – Sholom Aleichem

    As Mahatma Gandhi says,
    ”Earth provides enough to satisfy every man’s need, but not every man’s greed”,
    greed is an endless desire rooting from man’s nature.

    No matter how strict any laws are set to be,

    there are always loopholes where people commit crimes and the only way to combat corruption is changing men’s mentality and mindsets through education.”

    Francis Leong • Top Commenter • Imperial College, University of London

    “Najib says: My money is my money. Your money is my money. Solomon You shut up.

    • 11 • December 27, 2014 at 11:02pm

    http://www.freemalaysiatoday.com/category/nation/2014/12/28/did-our-money-go-into-1mdb-asks-bank-union/

    November 23, 2014 – http://www.thestar.com.my/News/Nation/2014/11/23/Najib-PR1MA-loan/

    With our political Leader’s present self denial attitude & his gomen’s self-destruct policies we are definitely going south to join – Zimbabwe, here we come…!

    Nov 19, 2007 – Zimbabwe’s Descent into Anarchy –

    Apr 15, 2010 – The Rageh Omaar Report: Zimbabwe – State of Denial

    You be the judge.

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