Connect with us


Singapore Extends Helping Hand to Malaysia Over 1MDB Scandal


- World Of Buzz
Source: The Mole

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Now that the 1MDB audit report has been declassified, many revelations have surfaced. The 1MDB scandal involves many other countries, and they are now coming together to help us solve it!

In fact, the Singapore authorities are now fully ready to extend further assistance to Malaysia on transactions related to the scandal-plagued state fund 1Malaysia Development Berhad (1MDB).

According to the New Straits Times, the statement was made on Wednesday (May 16) by the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS).

“The Singapore authorities have cooperated extensively with their Malaysian counterparts on their past requests for information in relation to 1MDB-related transactions, and are fully prepared to extend further assistance,” they said in the joint statement, issues in response to inquiries from the media.

“Singapore has also taken swift action against financial institutions and individuals who have broken laws within our jurisdiction in connection with 1MDB-related fund flows.”

At a press conference yesterday, Prime Minister Tun Dr Mahathir Mohamad said he would contact the several countries involved, including Switzerland, Singapore, the United States and perhaps Luxembourg, in order to recover the funds from 1MDB. The amount is estimated to be about US$4.5 billion (approx. RM17.8 billion) that was allegedly misappropriated under former prime minister Najib Razak. Wow!

“No one confessed that it was Malaysian money, so no claim was made,” Tun Dr Mahathir told reporters.

“The amount is quite big and will help us settle some debts.”

Just recently, the 1MDB audit report was declassified and made free for public viewing. It was found that senior 1MDB officials had withheld information from its board and made some decisions without the board’s approvalThe Star reported.

Bp 1Mdb 170518 29

Source: the star

Dr Mahathir also said earlier on Tuesday (May 15) that a strong case is being built against Najib by prosecutors and expects to charge Najib soon over graft claims at 1MDB.

The US Department of Justice has filed civil lawsuits alleging that from the US$4.5 billion (approx. RM17.8 billion) that was misappropriated from 1MDB, about US$700 million (RM2.6 billion) had gone into Mr Najib’s personal bank account. What’s new?

The lawsuits seek to seize about US$1.7 billion (approx. RM6.7 billion) in assets, including a luxury yacht and paintings, that were bought with 1MDB funds.

MAS has fined eight banks a total of $29.1 million (approx. RM115.4 million), while Swiss private banks BSI and Falcon were shut down in Singapore and several persons jailed after an extensive two-year probe into 1MDB fund flows.

Ahhhhh so much money is involved! Let’s just hope Dr Mahathir will be able to make wise decisions to recover the money that was lost, and hopefully restore our country’s wealth.


Also read: Swiss Authorities Want to Talk to Malaysia About Reopened 1MDB Scandal ASAP

Swiss Authorities Want To Renew Contact With Malaysia Over 1Mdb Investigation World Of Buzz 3 1 E1526534492830

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Just In

My Post 3 2024 07 24T164807.809 My Post 3 2024 07 24T164807.809
News16 hours ago

No Automatic Replacement Holiday for the Overlap of Malaysia Day & Prophet Muhammad’s B’day on 16 Sept

When public holidays in Malaysia land on a weekend, it is often carried forward to the nearest weekday (Monday) as...

Collage 7 3 Collage 7 3
News17 hours ago

Study: Malaysia Ranks 10th in the World For the Safest and Most Peaceful Country in 2024!

Recent events in Malaysia have left many of us questioning the safety of our country. As these concerns increase, it’s...

Collage 35 45 Collage 35 45
News17 hours ago

“This is a country with rules” – Dr Akmal Criticises Anthony Loke for Defending Brewery Funds in School

In response to the matter about the Chinese school in Selangor that received sponsorship from a beer company, Anthony Loke...

My Post 1 2024 07 24T155752.638 My Post 1 2024 07 24T155752.638
News17 hours ago

SG Man Arrested after Giving Then-Girlfriend HIV & Forcing Her to Become a Sex Worker for Fast Cash

A 37-year-old Singaporean man was sentenced to imprisonment for 20 months after forcing his wife to do sex work. What...

Lhdn Feat Image 1 Lhdn Feat Image 1
News18 hours ago

“It lightened my workload” LHDNM’s e-Invoicing System is A Game Changer for M’sian Businesses!

Attention fellow business owners in Malaysia! Starting on 1st August 2024, the Inland Revenue Board (LHDNM) will launch a brand-new...

Collage 6 3 Collage 6 3
News23 hours ago

Dashcam Footage Captures Man Getting Robbed of RM200K in Broad Daylight at Shah Alam Traffic Light

Robbers are getting bolder these days, striking even in broad daylight. With crime happening anytime, anywhere, it’s hard to predict...

My Post 4 7 My Post 4 7
News2 days ago

Deputy Minister Calls PAS ‘Hypocrites’ Over Issue of School’s Sponsorship From Beer Company

PAS Selangor recently condemned a charity fundraising event at a Chinese school in Sepang, due to the sponsorship from a...

Collage 35 40 Collage 35 40
News2 days ago

“Unhealthy, immoral” – PAS Questions Selangor Chinese School About Sponsorship from Beer Company

A Chinese school in Sepang recently held a charity performance and fundraising event that involved the sponsorship of a beer...


Latest Videos