• Need for PM’s approval on 1MDB deals a known fact, CEO says

    ― Reuters picKUALA LUMPUR, May 26 — The requirement to obtain the prime minister’s written approval for any financial deals undertaken by 1 Malaysia Development Bhd (1MDB) was never hidden from public knowledge, the troubled fund’s chief executive said today. Arul Kanda Kandasamy said there was nothing dubious about the matter as the investment arm’s Memorandum of Articles and Association Agreement (M&A) can be easily accessed by anyone. “These documents, along with the company’s financial accounts, have always been available to the public via the Companies Commission Malaysia,” Arul Kanda said in an email reply to Malay Mail Online. Earlier today Malay Mail Online reported that the prime minister has the final say over any “financial commitment” undertaken by 1MDB’s precursor, Terengganu Investment Authority (TIA), according to TIA’s M&A.

    The Malay Mail Online | Malaysia q
  • Bank Negara confirms told about 1MDB-BSI ‘cash’ issue by Singapore

    — File picKUALA LUMPUR, May 26 —  Bank Negara Malaysia (BNM) today confirmed receiving a report from its Singapore counterpart on a complaint lodged by BSI Bank about 1Malaysia Development Bhd’s (1MDB) account that the Swiss bank was handling. BNM Governor Tan Sri Dr Zeti Akhtar Aziz said the Monetary Authority of Singapore (MAS) had furnished its report on its investigations into the account, which recently caused controversy here when it was revealed that the US$1.103 billion (RM3.985 billion) kept in it was in “units” and not cash as previously claimed. “They have announced to send the report to us and yes, we did receive it,” Zeti said during a press conference on the Labuan Financial Services Authority Annual Report 2014 here today. But she declined to divulge the contents of the report, which former prime minister Tun Dr Mahathir Mohamad previously insisted contained information to show 1MDB lied about having cash in BSI Bank.

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  • What exactly are 1MDB assets in S’pore bank?

    How could a statement on a paramount issue like 1Malaysia Development Berhad (1MDB) be casually written by a lowly ministry official without the approval of the finance minister whose job is on the line? Wg321: Why is the Finance Minister II Ahmad Husni Hanadzlah dishonest? On March 10, 2015 in a written reply in Parliament, PM Najib Razak said the US$1.103 billion (RM3.9 billion) which were held in the Singapore bank is in the form of cash. This statement had been corroborated by 1MDB president and group executive director, Arul Kanda Kandasamy.

    Malaysiakini q
  • Shafie, Zahid not contradicting each other over leaked Muhyiddin video, says Umno Youth - The Malaysian Insider

    – The Malaysian Insider pic by Afif Abd Halim, May 26, 2015.Two Umno vice-presidents had not contradicted each other over the disciplinary action to be taken against the party leader who had distributed a video of Tan Sri Muhyiddin Yassin calling for the 1Malaysia Development Bhd (1MDB) board to be sacked, said Khairy Jamaluddin today. The Umno Youth chief said vice-presidents Datuk Seri Ahmad Zahid Hamidi and Datuk Seri Shafie Apdal were consistent that disciplinary action had to be taken against a deputy division chief who recorded the video.

    The Malaysian Insider q
  • Najib had control of TIA, but what about 1MDB?

    EXCLUSIVE PM’s approval needed for all of TIA's financial commitment, including investments.

    Malaysiakini q
  • When an ex-PM accuses the PM of lying

    Kingfisher: It is a sad episode in the annals of our governance culture when a sitting PM is identified for having lied in matters of fiscal responsibility as finance minister by none other than a former PM.

    Malaysiakini q
  • Giant rat photo goes viral on social media | theSundaily

    PETALING JAYA: A photograph of a gigantic rat, allegedly caught during an operation in USJ11, is now making rapid rounds on the the social media. However, there is nothing to get worked up about as this is not a species of some mutated rodent, but merely the result of the angle the photograph was taken.

    thesundaily.my q
  • Najib’s brother says 1MDB no-show ‘unacceptable’ - The Malaysian Insider

    – Instagram screenshot, May 26, 2015.The prime minister's brother Datuk Seri Nazir Razak has described 1Malaysia Development Berhad's (1MDB) failure to testify at the Public Accounts Committee (PAC) hearing scheduled for today as "unacceptable". He was referring to 1MDB group executive director and CEO Arul Kanda and former chief executive officer Shahrol Halmi's abrupt request for a 30-day extension before testifying to the PAC, citing important overseas appointments. The CIMB chairman has been vocal in his criticism against 1MDB, a Finance Ministry-owned state investment vehicle, established in 2009, which has chalked up debts of up to RM42 billion.

    The Malaysian Insider q
  • A disconnected world – Desi Anwar - The Malaysian Insider

    Recently, I had a conversation with the Venerable Master Chin Kung, an 89-year-old Buddhist monk currently residing in Hong Kong. Master Chin Kung has studied Buddhism for 64 years and for the last 57 years has been teaching and giving lectures on the pure teachings of the Buddha Shakyamuni.

    The Malaysian Insider q
  • Tiger ‘unintentionally’ mauled Thai abbot at controversial Tiger Temple, doctor says

    — File picBANGKOK, May 25 — A tiger that mauled the abbot of a Thai temple under fire over the welfare of dozens of big cats in its care “didn’t intend” to attack him, the monk’s doctor said today. Wat Pha Luang Ta Bua in western Kanchanaburi province — commonly known as the “Tiger Temple” — is home to nearly 150 tigers and has long drawn tourists who flock there to be photographed next to the monks’ feline pets. But the monastery has also had a controversial reputation among animal rights groups and Thai wildlife officials who say it is breaking the law in keeping the cats. On Saturday, abbot Luang Ta Jan, 64, was admitted into intensive care at Thanakarn Hospital with injuries including a bleeding facial wound as well a broken arm and tooth, his doctor and hospital director Sahathep Sawarngnet told AFP.

    The Malay Mail Online | All q
  • Unused Rolls Royce, just another collectible | theSundaily

    KUALA LUMPUR: Just another one of his collections ... A black Phantom Rolls Royce sits unused in Kuala Lumpur after it was purchased for Sarawak Governor Tun Abdul Taib Mahmud when he is in town. According to The Sarawak Report, it was purchased late last year and costs about RM2 million.

    thesundaily.my q
  • Muhyddin: Science key to more jobs and income | theSundaily

    Deputy Prime Minister Tan Sri Muhyiddin Yassin (C) visiting the exhibition area during the official launch of Asean SME Showcase & Conference 2015 'One Business, One Community' at KLCC Convention Centre. Muhyiddin (C) browsing some items at a booth during the official launch of Asean SME Showcase & Conference 2015 'One Business, One Community'. KUALA LUMPUR: Science is essential in driving Malaysia's economy as it is the key to creating jobs and generating income for Malaysians, said Deputy Prime Minister Tan Sri Muhyiddin Yassin.

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  • Nazir Razak berates past, present 1MDB chiefs for ditching PAC hearing

    — File picKUALA LUMPUR, May 26 — Datuk Seri Nazir Razak said it was “unacceptable” for 1Malaysia Development Bhd (1MDB) chief executive Arul Kanda Kandasamy and his predecessor Datuk Shahrol Ibrahim Halmi to miss the Public Accounts Committee (PAC) hearing today. Taking to the Instagram photo-sharing social network, the CIMB Group chairman and brother to Prime Minister Datuk Seri Najib Razak said their intentional absence was insufferable given how the firm’s problems have affected the country. Yesterday, PAC chairman Datuk Nur Jazlan Mohamed said his committee has for now agreed to skip plans to question Arul Kanda Kandasamy and Shahrol as both will be unable to attend a PAC hearing scheduled for today.

    The Malay Mail Online | Malaysia q
  • Bumi equity 50% now if policies carried out, says economist - The Malaysian Insider

    – The Malaysian Insider file pic, May 26, 2015.Bumiputeras would be controlling 50% of all corporate stock in Malaysia had the previous Barisan Nasional (BN) administrations carried out pro-Bumi business policies, said a prominent economist who helped in drafting them for the government. Universiti Malaya's (UM) Tan Sri Kamal Salih said this as Putrajaya pushed its Bumiputera business agenda in the 11th Malaysia Plan (11MP) launched on May 21. Kamal said 11MP’s target of achieving 30% Bumiputera corporate equity would likely fail without structural reforms to the agencies and departments tasked with carrying out the agenda. This is because many of the strategies in the 11MP’s were similar to those created and implemented by the previous administration under Tun Abdullah Ahmad Badawi.

    The Malaysian Insider q
  • Minister: How can 1MDB survive with such bad publicity?

    — File picture by Saw Siow FengKUALA LUMPUR, May 26 — 1Malaysia Development Berhad (1MDB) can overcome its financial problems, but the indebted firm is being hampered by negative media coverage and criticism, a minister has said. Urban Well-Being, Housing and Local Government Minister Datuk Abdul Rahman Dahlan pointed out that it was unreasonable to expect any company to continue operating normally with the amount of controversy that greets 1MDB’s every move. Concerned that with all this bad publicity, how can any company survive in this kind of environment where everybody is squeezing them (1MDB) out of oxygen?” he asked Malay Mail Online in a recent interview. Fears that public funds may be used to “bail out” the state-owned firm that reportedly accumulated RM42 billion in debt in just over five years has prompted opposition towards its transactions, both old and new.

    The Malay Mail Online | Malaysia q
  • Where did SRC’s RM3.81 billion end up, DAP asks again - The Malaysian Insider

    – Gobi Coal & Energy Ltd screenshot, May 26, 2015.Putrajaya should reveal where RM3.8 billion of SRC International funds had gone to, a DAP lawmaker said today, after it was revealed that its investments in Gobi Coal & Energy Ltd was only valued at US$60 million (RM216 million). Petaling Jaya Utara MP Tony Pua said that Malaysians were interested to know where the money, borrowed from the Retirement Fund Incorporated (KWAP), had gone in light of the 1Malaysia Development Berhad (1MDB) scandal, which has racked up RM42 billion in debts. "In the light of the questionable 'level 3 assets' of RM13.4 billion in SRC International’s former parent, 1MDB which appears to have gone missing, Malaysians are also interested to know if RM3.81 billion, most of which is also classified as 'level 3 asset’ is missing," he said in a statement today.

    The Malaysian Insider q
  • India heatwave kills 800 as capital's roads melt | theSundaily

    HYDERABAD, India: At least 800 people have died in a major heatwave that has swept across India, melting roads in New Delhi as temperatures neared 50°C. In the worst-hit state of Andhra Pradesh, in the south, 551 people have died in the last week as temperatures hit 47°C on Monday. "The state government has taken up education programmes through television and other media to tell people not to venture into the outside without a cap, to drink water and other measures," said P. Tulsi Rani, special commissioner for disaster management in the state.

    theSundaily.my Highlights q
  • Profiteering much? Kayu Nasi Kandar in the soup again over RM20 ladies’ fingers

    The Kayu Nasi Kandar restaurant in Bukit Jambul is in trouble with the Domestic Trade, Cooperative and Consumerism Ministry for the seond time in three days over allegations of overcharging patrons. This time around, an irate customer’s complaint about paying through his nose for ladies’ fingers went viral on social media. The enforcement officers, who visited the eatery yesterday, had paid a call on the restaurant late last week  to investigate a claim it had billed a customer RM2.50 for a roti telur. Restaurant owner and managing director Burhan Muhamad, who was present during the spot check, initially blamed the exhorbitant price of ladies’ fingers on human error, but later pointed the finger at the system.

    The Malay Mail Online | Malaysia q
  • Welcome to ‘char siew’ heaven at Char Siew Yoong, Cheras - The Malaysian Insider

    – The Malaysian Insider pic, May 26, 2015.Good char siew, or barbecued pork belly, is always tender and juicy with a sweet, caramelised glaze. Great char siew is all that, but with a superior choice of cut that has thin layers of fat interspersed with lean meat so each mouthful has an equal meaty bite with a slight burst of fatty juices.

    The Malaysian Insider q
  • Mysterious fires, voices haunt Bercham family - The Malaysian Insider

    A family in Taman Rima Gamelan, in the Ipoh suburb of Bercham, Perak, claimed they had been haunted by mysterious fires in their house, Sinar Harian reported. The report claimed that the incidents had started after a family member, Mohd Syafiq Hassan, 17, had helped a neighbour who faced similar problems.

    The Malaysian Insider q