In an exclusive response to Malaysiakini yesterday, Johari Abdul Ghani insisted that he has proof that Aabar Investment PJS Limited (“Aabar(BVI)”), an entity incorporated in the British Virgin Islands which 1MDB has already paid US$3.51 billion to was a genuine subsidiary of International Petroleum Investment Corporation (IPIC) of Abu Dhabi.
“As far as I am concerned, based on records provided by 1MDB to the Public Accounts Committee (PAC) prior to the settlement agreement, Aabar Investments PJS Ltd (BVI) is a subsidiary of IPIC. A fact which was confirmed by the Registrar of Corporate Affairs of the British Virgin Islands by its letter dated Aug 11, 2016,” he told Malaysiakini.
The question is, if the so-called “proof” is so incontrovertible, then it makes absolutely no sense to concede on a whopping US$3.5 billion (or more than RM15 billion based on today’s exchange rates) to IPIC.
Instead of being all gung-ho in being able to win the IPIC initiated arbitration, the Second Finance Minister said “the matter is beyond (him)” in a subsequent press conference yesterday.
He has now made a complete U-turn claiming that the government decided to look at the “bigger picture”.
“At the end of the day, the government felt that they are looking at the bigger picture on this, in terms of the relationship between Malaysia and Abu Dhabi, and so on. So, I think that’s beyond me. I’m going for the facts, but this is a bigger thing,” Johari had said.
In fact, the second finance minister shifted the blame to the prime minister. “The prime minister has made the decision for the country. That’s it,” he said.
But that’s exactly what Malaysians are worried about – that it’s the prime minister who is making the decision when he has a conflict of interest on the matter.
This is based on documents revealed by the United States Department of Justice (US DoJ), which were corroborated by the evidence produced by the Singapore prosecution against its rogue bankers, on the movement of funds out of Aabar(BVI).
In addition, isn’t Johari interested to find out if, despite the incontrovertible “proof” in his possession, that Aabar(BVI) had been fraudulently set up by the officers of IPIC – Khadem Al-Qubaishi and Mohamed Badawy Al-Husseiny, both of whom have been sacked by IPIC – in collusion with 1MDB officers to defraud both the Abu Dhabi and Malaysian governments?
Hence, the question must be asked as to whether Najib decided to “settle” the IPIC dispute which resulted in US$3.5 billion of additional liability for Malaysians because it is really in the interest of the country or, to prevent IPIC from further exposing and confirming his complicity in the entire 1MDB misappropriation scandal.
Therefore, it is utterly irresponsible of Johari to wash his hands off the finance ministry taking on the RM15 billion mega-liability. Instead of acting ignorant, shouldn’t the second finance minister satisfy himself that the prime minister has not made the decision out of self-interest?
In reality, was the “bigger picture” a blatant attempt to save Najib and Barisan Nasional from losing in the next general election?
If the matter is indeed “beyond” him as he pleads, then he might as well resign as the second finance minister.
Tony Pua is Petaling Jaya Utara MP ad DAP national publicity secretary
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