Saturday, May 13, 2017

Mahathir Mohamed Lashes Out at Australia

Former prime minister Mahathir Mohamad (left) has accused Australia of neglecting to take action on one of its biggest banks for possible complicity in the alleged 1MDB money-laundering scandal.
In a report by the SBS broadcasting agency today, Mahathir was quoted as saying that Australian authorities should look into the country’s connections to AmBank, which are alleged to have allowed money from 1MDB to be deposited into accounts registered with them.
The report named the Australia and New Zealand Banking Group, which has their global headquarters in Melbourne, as the single largest shareholder in AmBank with a 24% stake.

It said the share, acquired in 2006, gave ANZ the right to four seats on the 12-seat AmBank board and the right to appoint key management positions, such as chief risk officer and chief financial officer.
“Australia has been involved to a certain extent but it looks as if the government of Australia wants to avoid any involvement in this crime committed”, Mahathir added.
It has been alleged that 1MDB funds were deposited into the personal bank accounts of Prime Minister Najib Razak at AmBank.
A Wall Street Journal report on September 06 said the transactions amounting to $680 million (RM2.95 billion at the present exchange rate) were deposited in 2013.
On Friday, I met up with Hisham Mohamed, a good friend from Maldives – and whom I got to know when we were both members of the Sunway University Toastmasters Club. He was back in Malaysia for a holiday and we had a wee reunion.


At the Intermark Mall in Jalan Tun Razak, KL – Juan Valdez CafĂ©, a Colombian coffeehouse. Thumbs-up to their excellent service – a rarity in the city.


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