Dr M demands to see ‘proof’ of 1MDB funds in Singapore

(Malay Mail Online) – Tun Dr Mahathir Mohamad resumed his attacks against 1Malaysia Development Bhd (1MDB) today, this time demanding to see documentary evidence of the US$1.1 billion (RM4.1 billion) said to be held in Singapore.7

Again focusing on the confusion surrounding the amount initially said to be cash but later stated to be “units” of indeterminate nature, the former prime minister insisted that the opacity surrounding the firm’s deals meant verbal assurances would not suffice to convince the public.

“Statements without documentary proof are, as we have seen, quite useless. We need proof of all the investments and payments made by the 1MDB.

“But no proof has been shown accept (sic) for the acquisition of the power plants and purchase of government land in Kuala Lumpur and private land in Penang.

“Until signed documentary proofs and not just statements by the chief executive officer or prime minister, are shown, we have to assume that the money borrowed by 1MDB has disappeared,” he said in a blog post today.

The post today had Dr Mahathir recounting 1MDB’s RM1 billion deal with Petrosaudi International from which US$700 million was allegedly siphoned out.

Other deals he cited included the firm’s purported venture into oil fields in Argentina and Kazakhstan, of which he said little was known.

Dr Mahathir also highlighted that while attention was on the US$1.1 billion in Singapore, nothing was known about what happened to the initial tranche of 1MDB’s deposits “redeemed” from the Cayman Islands.

The former prime minister is pressuring Datuk Seri Najib Razak to resign over 1MDB and its RM42 billion in debt, among others.

Najib has rejected the demands, saying Dr Mahathir was only using 1MDB as a ruse to depose him and was not truly interested in seeking answers to the questions he has repeatedly posed.