The 1MDB Colloquium held in Sungai Besar and Kuala Kangsar on 11th and 12th June 2016 respectively, which was graced by many distinguished speakers have raised many pertinent issues with regards to the Government’s complete lack of accountability with 1MDB.
The recent global developments over 1MDB made it even more imperative for Dato’ Seri Najib Razak to explain what he has refused to explain for more than a year.
We, the undersigned, are citizens of Malaysia demanding clear and direct answers by the Prime Minister, Dato’ Seri Najib Razak and his Cabinet on the following pressing questions on 1Malaysia Development Bhd (1MDB) and Najib’s US$1 billion deposits into his personal bank account:
1. Who will pay if 1MDB loses the arbitration case with Abu Dhabi’s International Petroleum Investment Corporation (IPIC)?
On 14 June 2016, IPIC has filed its US$6.5 billion worth of claims against 1MDB in London’s Arbitration Court. IPIC is seeking US$3.5 billion bond plus interest that amounts to US$4.8 billion, the US$1.2 billion loan plus interest, and about US$481 million owed to its subsidiary, Aabar Investment PJS.
The above claims followed the discovery that 1MDB has made as much as US$3.5 billion of payments to a fraudulent British Virgin Island incorporated entity, Aabar Investment PJS Limited, which IPIC has denied ownership. Continue reading “Citizens’ Demands on 1MDB and Najib’s US$1 billion “donation””