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Mahathir calls for police investigation of Malaysia’s 1MDB

March 14, 2015
Published: 4:11 AM, March 14, 2015

The power and property fund, a pet project of current Prime Minister Najib Razak, with assets worth US$14 billion (S$19.4 billion), was hit by losses last year and nearly defaulted on a loan payment. The near miss drove down the ringgit and Malaysian government bonds, and prompted calls from opposition leaders to make the fund’s accounts more transparent. The state fund’s RM42 billion (S$15.7 billion) debt includes a US$3 billion bond sale in 2013 that was one of the largest global issues from South-east Asia.

“An audit of its financials by the Auditor-General as ordered by (the government) earlier this week is not enough to uncover the truth behind the debt-ridden state investment vehicle,” Dr Mahathir said yesterday.

“What is needed is more than the normal audit of the account books. What is needed is a forensic investigation by the police on the accusations made against several people who are involved in managing 1MDB’s finances,” he said in a blog posting.

The blog post soon attracted so many hits that webmasters temporarily suspended the personal blog and limited access to the chedet.cc website to prevent the servers from crashing. They later said they were working to restore access.

Malaysian businessman Low Taek Jho has also been drawn into the 1MDB controversy when media reports said he was tied to a company called PetroSaudi International. Whistleblower site Sarawak Report ran an expose accusing Mr Low, better known as Jho Low, of siphoning off US$700 million from 1MDB and using PetroSaudi as a front in a 2009 joint venture. Mr Low has denied any allegations of wrongdoing and said the issue is being politicised.

In the original blog post, the 89-year-old Dr Mahathir warned the ruling Barisan Nasional coalition that it risked losing the next general election if the government fails to clear the air over the numerous allegations levelled against 1MDB.

He added that if the cloud of allegations continued to hang over the fund, the people’s support for the coalition would continue to fall. “And when this happens, there is a strong possibility that BN will lose the general election in 2018,” Dr Mahathir said.

Last Wednesday, Mr Najib ordered the Auditor-General to independently verify 1MDB’s accounts, with the findings to be passed on to the Public Accounts Committee (PAC).

However, Dr Mahathir said appointing the Auditor-General to audit 1MDB’s books would not answer many questions posed by the people.

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4 Comments leave one →
  1. Khalil Abdullah permalink
    March 14, 2015 7:12 am

    Nothing serious as melayu mudah LUPA.

  2. najib manaukau permalink
    March 14, 2015 9:42 am

    First it takes a thief to catch a thief !
    Sure the police can probe and probe and the end results will be ‘no further actions’. Do you expect the police will try to investigate their pay master ? This avaricious & repugnant Mahathir should know that long long before he opens his filthy mouth. all he is trying to legitimize the actions or inactions of the police is to call them to look into the whole issue. One thing he should have called for is to investigate why he himself has never ever failed to visit London for whatever trivial reasons EVERY YEAR.

    Everybody knows that London is the main transit point to all the cities in Europe plus he has always advocated to look East and why is it that at his old age and with his health problem
    he still goes to London every year without fail. Why ? It is to audit his hidden accounts where he has stashed up the wealth of the richest man is kept.

    Malaysia was one of the most wealthy countries in this part of the world until he started to ‘transfer’ them abroad. He showed all the PMs after him how to do that, he was their mentor. Most of all the shambles that are now taking place are only fruits of the trees he planted. He did not ‘retire’ from politics far from it, he is more pro active in politics since his ‘retirement’ than when he was the PM. Because now he has all the time to do that instead of coming up with all the mega projects, that had mega ‘commissions’, during his tenure of 22 years as PM. Another real reason why he is so busy creating ‘news’ after ‘news’ are just ways to divert the attention of the people from probing into his ill gotten wealth.

    The only difference between Najib and him is that one is keeping a very low profile of himself while the other and the wife cannot wait to show to the world how wealthy they are.
    From young he has shown signs that he had always wanted the luxuries of life like having a swimming pool built and now a private jet on stand by to fly him and the ‘monies ‘ to places he wanted the ill gotten gains not to be seen. Najib also tries to tell the world he inherited all his wealth from his late father, no doubt this is causing all the siblings a lot of resentments over his claim that his late father left him with a lot, a lot of wealth. May be his late father did leave the world with plenty of wealth and that wouldn’t be a surprise especially he too was from Umno !

  3. Cheahsk permalink
    March 14, 2015 10:57 am

    This mamatkhutty is the one who started the Malaysian Rot. By eliminating the participation of the non-malay in running this country he started the the death knell of this country. That is the pivotal point. I dont kinow why this guy is so afraid of the non malays and his unfounded fear of non malay dominance. I dont understand this guy.

  4. najib manaukau permalink
    March 15, 2015 12:28 am

    Cheahsk,

    Do you know why this half breed did and still do all that ? He did that just so the Malays would be pleased with being civil servants thus thinking what a great Malay he is. When he is NOT A MALAY, not even by a long shot. Why is the off spring from a European and an Asian is called an Eurasian and there is nothing the off spring can do to transform the descendants to become a European or an Asian. In other words once one becomes a half breed one will forever be a half breed.
    Whereas, the avaricious & repugnant Mahathir thinks that by marrying his descendants to Malays the off spring will become Malays. They will forever be half breeds, no matter what they do, unfortunately his eldest billionaire son, married a Chinese and the grand children have or will have more Chinese blood in them than the Indian and the Malay blood in them.
    Despite that, the grand children will never ever be able to claim that they are Chinese.
    Finally if anyone out there disputes that, the best solution to it is to have the DNA of the Mahathirs tested to try and see if they are even remotely any where near a Malay.
    No doubt I will be more than delighted to pay for the DNA test if the results of such tests can proof they are Malays or even Indonesians which is what Malays really are.
    And why is this avaricious & repugnant Mahathir so tenacious about being a Malay when he is not ?
    This would allow him the chance to rob, and continue to rob, in the name of being Malays, now that he has become the richest man in Asia and the son a billionaire he is trying to have the descendants transformed into Chinese. The Chinese have better products without having them become Chinese, only those who do not have better products will claim they are one of them. How tragic and pathetic it is.
    That will never happen to the Chinese, no matter who his descendants will marry or are married to, they will always remain, not even as half breed, but as mixed bloods. Blood of Indian, Malay and Chinese what a pot of mixed bloods, what a bloody pot of shambles !

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