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MP SPEAKS | Najib Razak is getting more and more adept at putting his foot in his mouth. The latest came yesterday when the former finance and prime minister questioned why his successors did not pay off 1MDB’s bonds ahead of the maturity date to save on interest costs. Najib said if the government used the funds recovered from Goldman Sachs, the US Department of Justice, Ambank, KPMG, and Deloitte, it could have paid off the bonds. Najib thinks redeeming bonds traded in the bond market is like paying off his housing loan with a bank. Except it isn’t, and that’s why it’s called a bond, and not… Continue reading “MP SPEAKS | It’s called ‘bond’, not ‘bank loan’, for a reason”

Good morning. Here’s what you need to know today. __Key Highlights __ Paying 1MDB debts with your tax money Govt backs Azam Dr M is back in action __Paying 1MDB debts with your tax money __The question of repaying 1MDB’s debts is back in the spotlight. On Wednesday, former prime minister Najib Abdul Razak – who was responsible for the fund’s establishment, fugitive financier Jho Low’s involvement in it and allegedly benefited from siphoned monies – claimed the government was not using public funds to pay off the principal of 1MDB’s debts. Therefore, Najib said, the government should stop blam… Continue reading “Paying 1MDB debts with your tax money”

By Luc Cohen NEW YORK (Reuters) – A fugitive Malaysian financier said he won support from allies of former U.S. President Donald Trump for a possible settlement of a probe into the looting of funds from the 1MDB sovereign wealth fund, a former Goldman Sachs banker testified on Tuesday. Tim Leissner offered a glimpse of what he had heard from financier Jho Low about the attempted deal, on the sixth day of his testimony at the trial of Roger Ng, another former Goldman banker. Ng, 49, has pleaded not guilty to charges of conspiring to launder money and violate an anti-bribery law. Leissner, a for… Continue reading “Malaysian financier said he discussed 1MDB probe with Trump allies -testimony”