Public Prosecutor’s office at MACC raided by Special Branch for 1MDB documents

Putrajaya, August 1- Special Branch police has raided MACC DPP Ahmad Sazilee Abdul Khairy’s office and confiscate documents and laptop computer related on 1MDB.  According to sources a team of police which consist of 12 men including officers and men raided Deputy Public Prosecutor’s office at Presint 3 at Putrajaya.  The Special Branch also readed Sazilee’s home at Presint 11 earlier.

Continue reading “Public Prosecutor’s office at MACC raided by Special Branch for 1MDB documents”

Muhyiddin Yassin: PM should tell the truth on 1MDB

Kuala Lumpur:  Deputy Prime Minister Muhyiddin Yassin has publicly announced that Prime Minister Najib Razak has to explain the 1MDB issues to the people on Sunday night. The issue was raised after the closing event of UMNO Cheras annual division meeting. Muhyiddin Yassin said that he chose to speak up  so that the government will not underestimate the people’s sentiments on 1MDB.

Continue reading “Muhyiddin Yassin: PM should tell the truth on 1MDB”

TNB to purchase 13 more of 1MDB power plants

TNB has submitted an indicative no bidding proposal for 1MDB’s power asset both locally and globally through its subsidiary Edra Global Energy Bhd. These assets include 5 local and 8 international plants. The move is followed by recent acquisition of 70% stake of Jimah East power plant by 1MDB.

Continue reading “TNB to purchase 13 more of 1MDB power plants”

1MDB denies falsifying financial statements

PETALING JAYA: The 1Malaysia Development Board (1MDB) has issued a statement denied falsifying financial statements that was submitted to banks. In the statement 1MDB also regretted the allegations by Opposition Lawmaker Tony Pua quoting that the action could cause a default. 1MDB has questioned on how Pua could allege the audited account was tampered since it’s company internal dealing. 1MDB also noted that the confidentiality of financial agreements cited by Tony Pua were protected by law.

Continue reading “1MDB denies falsifying financial statements”

What is 1MDB

 1Malaysia Development Berhad 

The starting point of 1Malaysia Development Berhad or 1MDB for short began way back in the year 2008, and it was known at that time as Terengganu Investment Authority (TIA). The name was later on changed to what it is right now, 1MDB, a company owned entirely by the Malaysian Government. One of the main reasons for the establishment of 1MDB in Malaysia was solely to push towards strategic planning along with initiatives for fostering partnerships and to promote foreign direct investment. 1MDB is independently operated and funded by the decisions that are driven by the national economy at its best interest. 1MDB for better understanding, is a huge wealth fund that has only once received RM1 million in equity at the time when the company was just starting out.

Continue reading “What is 1MDB”