Gulf Times: Saudi government reportedly ‘not amused’ about 1MDB headlines

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The news that Switzerland has now kicked off a probe into banks linked to 1MDB scandal has caught the attention of the Gulf Times.

The Gulf Times in a report titled Switzerland could turn the scales in 1MDB scam (note the word scam):

In the 1MDB case, the whereabouts of $1.8bn of its funds are unknown. A probe found that around $680mn made their way on a private bank account of Malaysia Prime Minister Najib Razak, who denied any wrongdoing and claimed that the money was a “donor” from Saudi Arabia, meant as of appreciation to Malaysia for “championing Islam” and fighting militant group ISIS.

However, unease is growing in the Middle East over the issue. The Saudi government is reportedly not amused about making in into the headlines in the 1MDB case, and at Falcon Private Bank’s parent, Aabar Investment, which is a subsidiary of Abu Dhabi-government-owned International Petroleum Investment Company, two top executives, Chairman Khadem al Qubassi and CEO Mohamed al Husseiny, have been shown the door.

It is about time that Najib reveals the identity of the mysterious “donor” before causing unnecessary embarrassment (by association) to anyone else.

READ MORE:  DOJ's eye-popping revelations on 1MDB stun Malaysians
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15 Comments on "Gulf Times: Saudi government reportedly ‘not amused’ about 1MDB headlines"

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benny
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benny

Malaysia PM Najib Razak ‘has to go’, says ex-leader Mahathir

“I don’t believe it is a donation. I don’t believe anybody would give [that much], whether an Arab, or anybody,” he says in his no-nonsense style.

“When you borrow the money, it’s not sovereign wealth, its sovereign debt,” scoffs Mr Mahathir in a well-rehearsed line. “I told the prime minister that we don’t need this and sure enough he got into trouble.”

http://www.ft.com/intl/cms/s/0/5743cb1c-4a24-11e5-9b5d-89a026fda5c9.html#axzz3jyFynsZn

Johan Khun Pana
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Johan Khun Pana
On the fun side- Last year ( was it last year?), clearly recalled Najib saying that the price for the “kangkong” dropped and it is cheaply available. He said ” harga kangkong dah turun, kenapa tak puji kerajaan?” Well, wouldn’t he aptly say this now when the value of MYR (ringgit malaysia) plummet. “Ringit dah turun, kenapa tak puji kerajaan”? The good news is that the MYR have not entered the Top 10 worst performer (yet) . And that our MYR is just a little better than the Indonesian Rupiah. The bad news- China is clearly showing signs of slowing… Read more »
lim
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1pm, who are you trying to fool this time??? I think not even the makcik and pakcik in the kampong can be fooled all the time. They, too, cant accept 1donation !!! When are you going to sue the WSJ, how about that Shafie and that self strangling lawyer, arent they superb ??? You sucked the country dry, and the people are forced to pay GST to cover you ??? Now the only thing which is down is ringgit !!! Our tanah air is in deep …. thanks to 1pm’s 6 years BERSIH administration !!! …
gk ong
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gk ong

Did the Nigerian government get donation for fighting Boko Haram?

Yang
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Yang

US stock yesterday at one stage dropped more than 1000 points and closed 588 pts. It triggered stoppage of up to 1200 times. Look like the dollar rally may soon stop and will be on a downward trend. Oil price is now near bottom and should go up to normal level of above us60. Our ringgit should be back to normal by year end.

gk ong
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gk ong

Analysts predict that Singapore dollar will be RM3.30 by year end, according a a China Press report today.

benny
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benny

According to Song Seng Wun, an economist at CIMB Private Banking in Singapore, the ringgit looks likely to weaken further amid Malaysia’s unstable political situation, the evening daily Lianhe Wanbao reported.

“The Bersih 4 rally in Malaysia this weekend would also decide the performance of the ringgit,” said Mr Song, referring to the planned gathering to call for Mr Najib to step down.

Dealer Sim Lai Ngin from MayBank KimEng Securities believes the ringgit will fall to 3.3 against a Singdollar by the end of the year, reported Wanbao.

http://mypaper.sg/top-stories/ringgit-more-3-s-20150825

kanateeraj
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kanateeraj

Wah you analyst?

benny
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benny

Najib should now be making request to his donor to donate more to shore up our reserve, as this Sunni government is having a massive problem with ringgit’s continuous depreciation.

TEE
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TEE

Najib can donate to the dwellers at Kampung Mutiara to preserve the legacy there?

tunglang
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tunglang

Some fellas should be shown out of the door in Poo-traa-jaayaaa.
Why wait any longer before the Ringgit hits US4.44
Malaisia or Malaise, gua lang semua si liao lah!
Malaise = a general feeling of discomfort, illness, or unease whose exact cause is difficult to identify.

TEE
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TEE

Hopefully street food prices of Penang not adjusted per current exchange rates to cater to tourists, need to care for suffering locals that have sustained the orimaestro business all these years!

dio
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dio

If you have suffered great loss if you have been sehati sejiwa with Ringgit.

lim
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Looks like 1pm has to walk through the door himself with his 1family !!! Who said there was no God ??? Let us always remind ourselves of the Malay proverb, buat jahat JANGAN sekali !!! Puji Allah ku maha esa !!!

Yang
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Yang

You sudah ptg