Bank Negara revokes 1MDB foreign transfers, orders RM7.5 billion sent home

Source: The Malaysian Insider

1MDB has been ordered by Bank Negara to repatriate its overseas investments totalling US$1.83 billion. – The Malaysian Insider filepic, October 9, 2015.

Bank Negara Malaysia today said that its investigations showed troubled state fund 1Malaysia Development Berhad (1MDB) had secured permissions for investments abroad based on inaccurate or incomplete disclosure of information.

In a statement, the central bank said it had revoked three permissions granted to 1MDB for investments abroad totalling US$1.83 billion (RM7.53 billion) and directed the company to repatriate the funds to Malaysia.

Bank Negara had recommended to the attorney-general (A-G) to initiate criminal prosecution against 1MDB for breaches under the Exchange Control Act 1953 (ECA) and added that the decision lay solely with the A-G.

“On its part, the bank concluded that permissions required under the ECA for 1MDB’s investments abroad were obtained based on inaccurate or without complete disclosure of material information relevant to the bank’s assessment of 1MDB’s applications,” the statement said.

Bank Negara also requested 1MDB to submit a plan detailing the repatriation of funds.

The statement comes a day after the A-G said it had reviewed the report of a central bank investigation into 1MDB and decided that fund officials had not committed any offence. Read more

AGC confirms binned two Bank Negara requests for action in 1MDB case

Source: The Malay Mail Online

Bank Negara Malaysia’s recommendations for action against 1Malaysia Development Berhad had been rejected twice, the AGC revealed. — File pic

KUALA LUMPUR, Oct 8 – The Attorney-General’s Chambers (AGC) revealed today that it rejected Bank Negara Malaysia’s (BNM) recommendations for action against 1Malaysia Development Berhad (1MDB) twice after finding no wrongdoing committed by any of the state-owned firm’s officials.

In a statement, the AGC said BNM first submitted its investigation papers on August 21 and that upon studying the bank’s findings, it found that no further action was necessary.

The papers were subsequently returned to BNM on September 11, and the decision communicated to the bank the same day, it said.

On October 1, however, the AGC said BNM issued a letter of request, seeking a review of the decision.

“Having considered the request and the fact that there was no new evidence made available, the Attorney General decided to maintain the decision made earlier,” the AGC said. Read more

Jabatan Peguam Negara pertahan keputusan awal, tiada pendakwaan terhadap 1MDB

Sumber: The Malaysian Insider

Syarikat sarat hutang 1Malaysia Development Berhad tidak melakukan kesalahan, jadi tidak perlu didakwa, kata Jabatan Peguam Negara. – Gambar fail The Malaysian Insider, 8 Oktober, 2015.

Jabatan Peguam Negara mempertahan keputusan awal berhubung 1Malaysia Development Berhad (1MDB) dengan menegaskan tiada pendakwaan ke atas syarikat sarat hutang itu kerana tidak menemui sebarang kesalahan dilakukan.

Kenyataan tersebut dikeluarkan selepas Majlis Raja-raja Melayu mengeluarkan kenyataan supaya isu 1MDB diselesaikan segera, dua hari lepas.

“Mengambil kira permintaan dan fakta tiada bukti baharu ditemui, peguam negara memutuskan mempertahankan keputusan awal yang dibuat,” kata kenyataan Jabatan Peguam Negara hari ini.

Jabatan Peguam Negara berkata mereka sudah menerima kertas siasatan Bank Negara Malaysia (BNM) pada 21 Ogos, namun Timbalan Pendakwa Raya 1 Datuk Tun Abd Majid Tun Hamzah memutuskan 1MDB tidak melakukan kesalahan dan mengarahkan tiada tindakan diambil. Read more

1MDB did not commit any offence, says A-G’s Chambers after Bank Negara review call

Source: The Malaysian Insider

The Attorney-General’s Chambers has maintained that 1MDB did not commit any offence relating to false disclosure. – Reuters filepic, October 8, 2015.

1Malaysia Development Berhad (1MDB) has not committed any offence related to false disclosure despite Bank Negara Malaysia’s appeal to review the case, the Attorney- General’s Chambers (AGC) said today.

This was despite the central bank requesting a review to a decision that was made last month that no further action was required in the Bank Negara probe.

“Having considered the request and the fact that there was no new evidence made available, the Attorney-General decided to maintain the decision made earlier,” AGC said in a statement.

1MDB officials were investigated under Exchange Control Act 1953, for knowingly and recklessly making a statement which is false.

The statement comes after the Conference of Rulers on Tuesday had said that investigations into 1MDB must be made public in order to show that nothing was being hidden in the probe on the state-owned investment firm. Read more

Raja-raja Melayu mahu siasatan 1MDB selesai secepat mungkin

Sumber: The Malaysian Insider

Dalam satu kenyataan hari ini, Raja-raja Melayu menggesa kerajaan segera menyelesaikan siasatan 1MDB dan mengambil tindakan tegas terhadap mereka yang berkaitan. – Gambar fail The Malaysian Insider, 6 Oktober, 2015.

Raja-raja Melayu mahu kerajaan menyelesaikan secepat mungkin siasatan berkaitan 1Malaysia Development Berhad (1MDB) dan mengambil tindakan tegas sewajarnya terhadap pihak-pihak yang terlibat.

Dalam satu kenyataan, baginda sekalian menegaskan semua pihak bertanggungjawab untuk memberi kerjasama yang sebenar dan jujur agar usaha serta maksud siasatan tersebut berjaya.

“Penemuan siasatan ini hendaklah dilaporkan secara lengkap dan telus supaya rakyat dapat diyakinkan akan keikhlasan kerajaan yang sama sekali tidak akan melindungkan fakta dan kebenaran,” menurut kenyataan itu.

Kenyataan dikeluarkan Penyimpan Mohor Besar Raja-raja Datuk Seri Syed Danial Syed Ahmad berikutan mesyuarat Pra-Majlis Raja-raja yang diadakan di Istana Negara hari ini.

Ia berkata: “Kegagalan memberikan penjelasan dan jawapan yang meyakinkan, dikhuatiri mengakibatkan berlakunya krisis keyakinan. Read more

Malay rulers want 1MDB issue settled soonest

Source: The Malaysian Insider

he Malay rulers have released a statement urging the government to complete the probe into 1MDB and take the appropriate stern action against those found implicated. – Reuters filepic, October 6, 2015.

The Malay rulers want the government to complete the investigation related to 1Malaysia Development Berhad (1MDB) as soon as possible and take “the appropriate stern action” against all found to be implicated.

In a statement, they said that all concerned should extend “real and sincere” cooperation for the investigation to achieve its objectives.

“The findings of the investigation must be reported comprehensively and in a transparent manner so that the people will be convinced of the sincerity of the government which shall not at all conceal facts and the truth.”

The statement was released by the Keeper of the Rulers’ Seal, Datuk Seri Syed Danial Syed Ahmad, after the pre-council meeting of the Conference of Rulers at Istana Negara today. Read more