Check your facts before commenting on 1MDB, Rahman Dahlan tells Shafie

(The Star) – Former Umno man Datuk Seri Shafie Apdal should check his facts before speaking about 1Malaysia Development Berhad (1MDB), says Datuk Abdul Rahman Dahlan.

The Minister in the Prime Minister’s Department was commenting on Shafie’s claims that 1MDB had sold 60% of its shares to China.

“He doesn’t have any understanding about shares nor what is happening in 1MDB. What he said was based on emotions and unverified facts,” he said at a press conference in Parliament.

Rahman Dahlan, who also heads the Economic Planning Unit (EPU), explained that while 40% of the overall shares belonged to 1MDB, the remaining 60% was sold to two entities.

“These entities are the Iskandar Waterfront Holdings (IWH) and China Railway.

“Now out of that 60% shared by these two entities, IWH holds 60% while China Railway has only 40%.

“So that would mean that with the 40% held by the Government and the 36% by IWH, the Malaysian Government or the Rakyat have 76% of the shares,” he said.

He added that therefore, China only held a 24% stake in 1MDB.

When asked, Rahman Dahlan acknowledged that it was a risky move to allow China to only make payment in 2020.

“The risk is always there. But it depends on the situation and the terms of agreement,” he said.