02 Jul '15, 6am

Cabinet Ministers must individually and collectively explain when and why they had approved a further US$4.71...

1Malaysia Development Bhd (1MDB) has lost out in the public argument with DAP MP for PJ Utara, Tony Pua over whether there is a government guarantee amounting to US$4.71 billion (RM17.8 billion) to Abu Dhabi’s International Petroleum Investment Corporation (IPIC) with regard to IPIC loans in the latest bailout of IMDB. This is also the judgment of the founding editor of KiniBiz, P. Gunasegaram who, in his article “A new RM17.8 bil twist in 1MDB ‘guarantee’” on Monday, concluded: “On all accounts, Pua is right and 1MDB is wrong – it is 1MDB which is misleading the people, not Pua.” Gunasegaram fully agreed with Pua that IPIC’s statement to London Stock Exchange on 10th June meant that the Ministry of Finance now also assumes the obligation together with 1MDB to transfer assets totalling US$4.71 billion, which means “the MOF is effectively undertaking to fulfil the obligatio...

Full article: http://blog.limkitsiang.com/2015/07/02/cabinet-ministers-...

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