Sarawak Report is an investigative journalism online news resource that offers “an alternative vision of justice, transparency and a fairer future in Sarawak.” It is based in London. Sarawak Report’s website was blocked by Malaysia’s internet regulatory body, Malaysian Communications and Multimedia Commission (MCMC), in the summer of 2015, approximately two weeks after the website started to reported on the 1Malaysia Development Berhad scandal. Sarawak Report continued to reach the Malaysian public through Medium.com, but that was also blocked in January 2016
FAQ About 1MDB
Q1. Is 1MDB a sovereign wealth fund?
No. 1MDB is a strategic development company, wholly owned by the Government. However, unlike sovereign wealth funds, which are funded by and act as investment holding arms of the Government, we raise and invest our own capital.
1MDB’s mission is to drive the sustainable long-term economic development and growth of Malaysia by forging strategic global partnerships and attracting foreign direct investment into the country. 1MDB also participates in strategic sectors that ultimately help drive the country’s socio-economic growth.
Penang: Chief Minister Lim Guan Eng said that the recent fall of ringgit is due to 1MDB issues. He stated that that he warned the Federal government not to play with the economy however it has fallen into deaf ears. “It is a common knowledge that the Ringgit fall is due to 1MDB” he said. He also added that some people did not want to admit this fact and did not listen. “Even Tan Sri Muhyiddin Yassin is not able to stand with it and voiced it out” Guan Eng mentioned during a speech at Komtar event recently.
Pasir Gudang – According to Prime Minister Najib Razak, 1MDB debts will be reduced in phases to an acceptable level within 6 months period and the matter has been disclosed to UMNO members. According to Najib Razak, the 1MDB loss has been sensationalize in Social medias and Internet although the company has not made any loss yet.
PetroSaudi International Ltd. or simply known as PetroSaudi is one of the biggest private limited company that base its operation in the area of oil exploration and production, where it was established in 2005 and founded by Tarek Essam Ahmad Obaid and several private investors. The co-founder and CEO of PetroSaudi, Tarek Obaid, is responsible for the company’s overall strategy, management, and high-level of political relationships. He who is a graduate from Georgetown University’s School of Foreign Service is an experience leader and has been both founder and investor in a wide range of businesses that includes technology, financial services and real estate industries.
Jho Low whom born as Low Taek Jho is a Chinese person that works as an agent and as a financier in Malaysia. He who had gained notoriety in New York as a “tabloid party boy” is also reported to have a close relationship with the stepson of current Malaysian Prime Minister Najib Razak that goes by the name of Riza Aziz.He has also been associated with several high value transactions mostly in the acquisitions of businesses, luxury art and real estate, as well as philanthropy. All of the transactions made by him are often opaque which make it unclear whether he is acting as an agent or on his own behalf. In addition, he also runs a finance company in Hong Kong called Jynwel Capital.
Before there is a company called 1 Malaysia Development Berhad (1MDB) been made viral by the media, there is an authority called Terengganu Investment Authority (TIA). The TIA which was setup with a starting fund of RM10bil in the late 2008 was been made as a sovereign wealth fund aimed at the state of Terengganu’s economic development. The authority that had appointed Tunku Mizan as the chairman for the TIA’s board of advisers will work alongside with Terengganu Menteri Besar (First Minister) in managing the oil royalty payments from the Federal Government to the state.
Kuala Lumpur – Malaysian Prime Minister Datuk Seri Najib today says that MACC has cleared him on corruption charges over a $700 USD million or RM 2.6 billion that was transfered to his personal account over an UMNO division meeting at Bandar Tun Razak Today.
PUTRAJAYA – Certain individual or group in some places in Malaysia has created the negative perception on 1Malaysia Development Berhad (1MDB), and this had become the reason behind the public suspicions about the state investment arm said by Prime Minister of Malaysia, Datuk Seri Najib Tun Razak. The perception spread via the social media has made Datuk Seri Najib felt upset on the news.
Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) today stated that investigation revealed that the money deposited directly into Najib’s account did not come from investment arm 1MDB.”Investigations have found the RM2.6 billion which was allegedly deposited into the prime minister’s accounts is the contribution of donors and not from 1MDB funds,” said the commission in a statement. The statement came after hints from BN leaders recently that the money may be from donation sources. The investigation on SRC International Sdn Bhd which involves the sum of RM 4 billion is still ongoing.