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

Beach Park Ft Beach Park Ft
News6 hours ago

Penang Beach Park Forced To Shut Down After Thousands Of Visitors Were Spotted

A beach park in Penang, Taman Rekreasi Pantai Robina (also known as Robina Eco Park), has been forced to shut...

Mitsubishi Mitsubishi
News6 hours ago

M’sian Man Who Drove Against Traffic & Killed 2 Teenagers Charged With Murder

The driver who drove against traffic and killed two teenagers on 12 September has been charged with murder at the...

Kk Kk
News8 hours ago

Mount Kinabalu & Other Tourist Sites Reopened To Fully Vaccinated Individuals Starting 16 Sept

It’s finally time for fully vaccinated individuals to gear up as Mount Kinabalu is now open to the public for...

Collage 3 5 Collage 3 5
News10 hours ago

523 Covid-19 Positive Individuals & Those Ignoring Home Quarantine Identified In Kedah

After more than a year of fighting the pandemic, some people are still violating the SOPs by endangering the lives...

Ppcc Ppcc
News13 hours ago

PM: B40 Households To Receive Self-Test Kits & Oximeters From Govt In Covid-19 Care Package

Prime Minister Datuk Seri Ismail Sabri Yaakob announced yesterday (19 September) that the government will allocate over RM471.6 million to...

Khairy Jamaluddin Booster Shot Khairy Jamaluddin Booster Shot
News13 hours ago

KJ: Booster Shots Expected To Be Given To High-Risk Groups Starting October

Many countries have started giving booster shots to their citizens and it seems like Malaysia is next to follow suit....

Wee Ft Wee Ft
News1 day ago

Transport Minister: More Public Transport Expected To Operate At Full Capacity Next Month

As Malaysia moves into the Covid-19 endemic phase, more public transport is expected to operate if domestic tourist destinations are...

Rnr Rnr
News1 day ago

Almost All R&Rs Along PLUS Highway Have Reopened, Those Fully Vaccinated Allowed To Dine In

As Klang Valley moves on to Phase Two of the National Recovery Plan (NRP), more rest stops (R&R) have also...


Latest Videos