'Najib-Dr M secret meet could taint 1MDB probe' 
MalaysiaKini.com
Dec 23, 2014  

Prime Minister Najib Abdul Razak must disclose details of the meeting he had with former prime minister Dr Mahathir Mohamad on 1Malaysia Development Bhd (1MDB), said PKR's Padang Serai MP N Surendran.

Najib met Mahathir last weekend, after Mahathir raised concern about the firm which has debts amounting to billions of ringgit, The Malaysian Insider reported yesterday.

Surendran said that Najib should confirm if the meeting did happen as it could jeopardise a police investigation into the Finance Ministry-owned firm.

"Neither Najib nor Mahathir have so far denied holding such a meeting.

"If true, this secret meeting raises serious questions about the ongoing investigations into the scandal," he said in a statement.

He also urged the police to disclose its progress into its 1MDB probe following a police report by Batu Kawan Umno deputy division chief Khairuddin Abu Hassan on Dec 13.

Inspector-General of Police Khalid Abu Bakar said police will investigate the matter but there has been no updates on the matter.

Mahathir, stay out

Surendran also called on Mahathir to stay out of the matter as his using 1MDB to put political pressure on Najib may jeopardise the probe.

"This investigation should be a national priority. The public has a right to know the truth," he said.

In a related matter, student activist Fahmi Zainol said students are willing to host a debate or dialogue between 1MDB director Lodin Wok Kamaruddin and 1MDB critics.

This is after Lodin (left) in a statement late yesterday said the firm's directors welcomes dialogue about the company.

"If the prime minister is unable to explain, a representative from the board of directors would suffice," Fahmi said.

Najib, who is also finance minister, also chairs the 1MDB advisory board.

Lodin said this while addressing concerns over the firm's growing debt, its decision to park more than US$2 billion (RM7 billion) at tax haven Cayman Islands and doubts over its assets.

Lodin said all its debts are comfortably covered by all its assets.

He also explained that US$2.38 (RM8.33 billion) funds was parked at a Cayman Island-registered subsidiary after a joint-venture with little-known Saudi company PetroSaudi went sour.

1MDB converted its investment into PetroSaudi into a loan and PetroSaudi paid it in full in 2013, earning 1MDB a proft of US$488 million (RM1.71 billion), he said.

The funds could not be repartiated immediately due to currency fluctuations, he said, but since then US$1.4 billion have been brought home.

He did not explain why the deal with PetroSaudi fell through or why 1MDB has a subsidiary registered at the Cayman Islands. 

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