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Sunday, 15 May 2016

Why hasn't Najib returned SRC's RM69m to gov't?

Tony Pua

Investigations by Singapore authorities have revealed that Ministry of Finance subsidiary SRC International managing director Nik Faisal Ariff Kamil approved the transfer of US$11.95 million (RM48 million) of the company's funds to Jho Low's associate Tan Kim Loong.

Tan, according to The Wall Street Journal, is the original beneficiary of British Virgin Islands-based Tanore Finance, which had sent US$681 million to prime minister Najib Abdul Razak's personal bank accounts.

Singapore’s Business Times reported that the latest charge against former BSI banker Yeo Jia Wei was for facilitating, through fraudulent means, the transfer of US$11.95 million from SRC International to Affinity Equity International Partners Ltd, a company owned by Tan.

As international investigations begin to provide a clearer and more detailed picture of the scale of alleged embezzlement via duplicitous transactions by 1MDB and SRC International, investigations in Malaysia on the other hand, have effectively ground to a halt.

While the focus of the international press and local critics have been aimed at the debt-ridden 1MDB, its former subsidiary SRC International has been kept relatively under the radar. However, if 1MDB was found by the parliamentary public accounts committee (PAC) to have suffered from gross mismanagement, then stranger and more suspicious transactions have taken place in SRC International.

First of all, given all the shenanigans which took place in SRC International including the latest disclosure in Singapore, and the known fact that Nik Faisal has disappeared off the face of Malaysia for nearly a year, why is Nik Faisal still a director and the managing director of the company?

Secondly, his fellow director, Suboh Mohd Yassin has also similarly disappeared from the country. Why have they not been replaced by Ministry of Finance officials? With a federal government guaranteed RM4 billion loan from the Malaysian Pension Fund (KWAP), who exactly is running the company today? Or is the company being run via remote control by fugitives?

Thirdly, the attorney-general has confirmed that RM27 million originating from SRC International found its way into Najib Razak’s personal account in July 2014. The Wall Street Journal has further alleged that another RM42 million from SRC International was transferred via intermediaries into the prime minister’s account between December 2014 and March 2015.

Najib should return SRC money

The AG said no charges will be filed against the prime minister for criminal breach of trust on the amazing excuse that the prime minister did not know that the tens of millions deposited into his account came from SRC International. However, in that case, why haven’t those involved in SRC International been investigated and charged for siphoning funds to the Najib personal account?

Fourthly, the Sarawak Report has earlier exposed that Nik Faisal was given a power of attorney to manage Najib’s personal account – a damning allegation that has not been denied by the prime minister. Would this be a reason why Nik Faisal is given special protection by the powers that be?

Finally, while it is no longer denied that Najib received at least RM69 million from SRC International, even if it was unwittingly received, why haven’t the funds been returned to SRC International?

If the prime minister really did not realise then that the RM69 million deposited into his personal bank account came from SRC International, shouldn't he return the money immediately?

If Najib could be so honest as to return some US$620 million of unutilised donation to his mysterious alleged Arab donor, why could he return the paltry RM69 million?

Najib, who is also the finance minister, must answer these crucial questions pertaining to SRC International during two-week Parliamentary sitting commencing tomorrow.

TONY PUA is DAP national publicity secretary and Petaling Jaya Utara MP

Dr M urges one-to-one fights to beat BN at by-elections


Shakira Buang

Former premier and ex-Umno veteran Dr Mahathir Mohamad has urged the opposition to stand as one to defeat BN at the upcoming twin by-elections in Selangor and Perak.

“This fasting month we will face two by-elections, and I hope we all can defeat BN this time.

“It doesn’t matter who leads the fight, we must have only one party to fight BN because we know if there are two or three (opposition) candidates like what had happened in Sarawak, the votes will be split and BN will win.

“If we have only one to one fights we are sure to defeat BN by giving all our collective votes to the candidate contesting against BN,” Mahathir said at a Save Malaysia gathering at Stadium Malawati, Shah Alam last night.

The Sarawak election on May 7 was a disaster for the opposition coalition Pakatan Harapan as well as PAS, who fought one another for the seats and ended up handing a landslide victory to BN.

The Election Commission (EC) has fixed June 18 for the Sungai Besar and Kuala Kangsar by-elections.

The two seats became vacant after Plantation Industries and Commodities Deputy Minister Noriah Kasnon and Wan Muhammad Khairil Anuar Wan Ahmad died in a helicopter crash on May 5 in Sarawak, while campaigning at the state polls.

‘Harapan and PAS should unite’

The gathering last night held together with Pakatan Harapan saw a poorer turnout of roughly 300 as compared to previous events, possibly due to the FA Cup finals last night.

Commenting on PAS’ determination to run in both seats, Mahathir said the opposition should unite and not let seat grabbing hand a win to BN.

He said PAS not being part of Harapan should not stop the two uniting against the ruling coalition.

“We don’t care who the candidate is, even if it’s from PAS and PAS is not with us, the prime objective however is to defeat BN to show Najib the rakyat no longer supports him.

“This is why we have to work hard to defeat BN in these by-elections,” he said.

“(BN’s loss) would prove that the win in Sarawak wasn’t Najib’s win, although so much money was thrown there,” he said.

He added Sarawakians were concerned about the well-being of the state during the elections, not showing support for the prime minister.

Dr M’s change of heart

Meanwhile, at the event PKR deputy president Azmin Ali welcomed the long-running former premier’s change of heart.

“This is a new direction revealed by Mahathir, and this has inspired our spirit to learn from our mistakes in Sarawak.

“All parties must therefore return to the negotiating table to ensure the aspirations of the rakyat can be fulfilled,” said the Selangor menteri besar.

He said Harapan has yet to decide on which party will contest in the two seats.

“What is important is the principle that we uphold and which Mahathir has also shown support for tonight, that the by-elections should be a one to one contest and we must take down BN in Sungai Besar and Kuala Kangsar.”



https://www.malaysiakini.com/news/341545