By KINIBIZ
Tony Pua
DAP MP Tony Pua said that the government should direct 1Malaysia Development Bhd (1MDB) to repatriate its overseas funds and assets and reinvest them in Malaysia.
According to the lawmaker in a media statement today, 1MDB has at least RM13.4 billion of “available-for-sale investments” held overseas, including another amount of US$1.56 billion belonging to 1MDB Global Investment Limited that “have been placed in various investment portfolios” overseas.
Pua was responding to Prime Minister Najib Abdul Razak who yesterday urged government-linked companies (GLCs) to cash in on their foreign investments and re-invest domestically to spur the local economy.
The PM says that this is one of the immediate measures by the special economic committee he had set up to look into the current economic situation.
As for an alleged US$1.1 billion alleged parked with Singapore’s BSI Bank, Pua said that “the excuse for funds to be held overseas to avoid Bank Negara Malaysia’s (BNM) scrutiny which is untenable, is even less tenable under the current circumstances where Malaysia badly needs new investment to rekindle our flagging economy.”
You must be logged in to post a comment.