Courageous Heart: May 2016

Friday, May 27, 2016

#1MDB: Investigations Undermined In Malaysia

Swiss body confiscates RM400m in illegal profits from BSI Bank

Published by Malaysiakini on 25 May 2016.

Swiss Financial Market Supervisory Authority (Finma), which identified serious lapses by BSI Bank in its dealing with accounts linked to 1MDB, announced the confiscation of almost RM400 million in profits generated by the bank. "The serious breaches of supervisory law linked to the client relationships the bank maintained over the period under investigation enabled it to charge high fees."

As part of the Swiss investigation into 1MDB, it found funds being transferred across a client group which controlled over 100 accounts at BSI Bank. The transfer was facilitated by BSI Bank without proper due diligence even in instances where there were clear indications of money laundering.

Read more here: https://www.malaysiakini.com/news/342869

Malaysia’s Probe Into 1MDB Fund Was Flawed

By Tom Wright & Bradley Hope. Published by Wall Street Journal on 26 May 2016.

Investigations ordered by Malaysia’s leader into graft allegations at a state-development fund have been undermined by political pressure and a lack of transparency, according to documents and interviews with people involved.

Speaker rejects motion to make A-G report on 1MDB public

By Ram Anand. Published by Yahoo! News on 26 May 2016.

Dewan Rakyat Speaker Tan Sri Pandikar Amin Mulia today rejected a motion by Opposition Leader Datuk Seri Dr Wan Azizah Wan Ismail to publicly reveal the Auditor-General’s (A-G) report on 1Malaysia Development Berhad (1MDB).

Pandikar said Dr Wan Azizah’s motion cannot be decided in the second parliamentary chamber pursuant to Standing Order 18(1), but instead needs a decision from the House.

The second chamber, which was set up recently to debate and discuss emergency motions, was part of the string of reforms to the Parliament institution.

"I regret the rejection of my motion as it involves public interest," Dr Wan Azizah said in response to the decision during a press conference at the Parliament lobby.

"Until today, the 1MDB scandal has not been answered properly either through PAC, or official government answers," she added.

Malaysia’s central bank closes its investigation after 1MDB pays fine

Published by Today Online on 26 May 2016.

Malaysia’s central bank, Bank Negara Malaysia (BNM), announced on Thursday (May 26) that it has closed its investigations into the troubled 1Malaysia Development Berhad (1MDB) after the state investment firm paid a fine imposed by BNM for non-compliance with local financial regulations.

“As far as we are concerned, 1MDB has paid their compound and with that, that is the conclusion of our investigation within Bank Negara Malaysia’s rules and regulations and the law that we administer,” newly-appointed BNM governor Muhammad Ibrahim told the Malaysian media on the sidelines of the 20th Malaysian Banking Summit.

CIMB Clears Chairman of Wrongdoing Over Malaysia Political Funds

By Shamim Adam. Published by Bloomberg on 18 May 2016.

CIMB Group Holdings Bhd. cleared Chairman Nazir Razak of misusing his position or the bank’s resources when he helped his brother -- Malaysia’s prime minister -- distribute funds to politicians before elections three years ago.

Nazir will resume his post at CIMB Group and as a director of CIMB Bank from Thursday after taking a monthlong leave of absence, according to a stock exchange filing. The boards of the two companies appointed Ernst & Young to conduct an audit into Nazir’s activities and sought independent legal advice, they said.

The Wall Street Journal reported in March that Nazir received about $7 million from his brother Najib Razak’s accounts ahead of elections in 2013, and passed the money to politicians in the ruling party. Nazir told the paper the money that entered his account was distributed in accordance with instructions from party leaders, and he believed it came from donations he helped solicit from Malaysian companies and individuals.

The audit found Nazir "did not misuse his position as the Group Chief Executive at that time nor was there any inappropriate use of the bank’s resources," CIMB said in the statement.

PAS rep files motion against PAC chief over 1MDB report edits

By Kamles Kumar. Published by Malay Mail Online on 26 May 2016.

PAS MP Datuk Mahfuz Omar has submitted a motion to refer Public Accounts Committee (PAC) chairman Datuk Hasan Arifin to the Rights and Privileges Committee over his removal of two paragraphs from the panel’s 1Malaysia Development Berhad (1MDB) report.

The Pokok Sena MP alleged that Hasan had edited the PAC report without the knowledge of the panel’s members. "I have put in a motion about Hasan because he edited the PAC report on April 7 without the knowledge of other PAC members... This is very unbecoming of a member of Parliament and action should be taken against him," he told reporters outside the Dewan Rakyat today.

Monday, May 23, 2016

How God Conquered One Lesbian's Heart

By Michelle D. Smith. Posted by Charisma News on 22 May 2016.

It took me a couple of years before I could work up the courage to go back home for a visit. I wouldn't go alone and took my girlfriend, Ann, and her daughter, with me. My mom was very warm and welcoming, even loving toward all three of us. I thought perhaps things had changed in the nearly seven years I'd been gone.

She pulled me aside and said, "Michelle, I love you, and you are all welcome to stay here tonight, but you'll have to sleep in separate rooms." I was mad, but I understood and appreciated the forewarning. We went to a hotel.

Mom continued to love on us by sending cards and money on birthdays and holidays. I joked it wasn't fair Ann got the same amount of money on her birthday as I did from my parents.

I was beginning to calm down, to live a more stable life, one that wouldn't cause the neighbors to blush. Normal. I thought perhaps I should also pursue a more normal religious identity. I was still seeking God. I knew I couldn't return to mainstream Christianity, just the thought of it still gave me the heebie-jeebies, but I had a deep longing I couldn't satisfy. I was still writing, reading and viewing porn.

I began studying Kabbalah and the Zohar (both Jewish mysticism), and I decided I needed to talk to a rabbi, to learn as much about the foundational aspects of Judaism as possible before I could truly attain proficiency in Jewish mysticism. At the time, this seemed to fall within the realm of "normal" for me. I met with a rabbi in the Reformed tradition, one who assured me it was OK to continue my life as a practicing lesbian.

Although the thought of entering a Christian church or speaking to any of my former mentors and friends who were Christians almost sickened me, I could read the Bible if I was doing it to pursue Jewish knowledge. I stuck to the Old Testament, which kept me safe from the pesky and disturbing writings of Paul. I couldn't deal with Jesus either, but that was OK for now. He seemed safely ensconced in the New Testament.

What I didn't intend during my course of study was to have feelings about God emerge. I began to sense an awareness of Him again. My previous experiences into other forms of spirituality (or non-spirituality) had always been to soothe an ache, but had always been unsuccessful. They were fun, scary, encouraging or wishful, but never fulfilling. I began to pray the serenity prayer and the 23rd Psalm.

More than a year passed as I met with the rabbi once a week, alone and in a small group. I rarely went to synagogue. I am an introvert by nature, and couldn't seem to break into this Jewish family in any meaningful way. Finally, Rabbi M. told me it was time to pick a date for my official conversion ceremony.

Within days of the announcement, I received devastating news. Aunt Jan, dearly beloved and only 11 years older than me, had died unexpectedly. My entire family felt this loss deeply. I drove with my girlfriend to Oklahoma to the funeral.

As I sat in the funeral home chapel, listening to a sermon by a very inexperienced friend of my uncle's, I heard a voice say to me, "You can't give up Jesus." I turned my head to the left and to the right, but no one was looking at me. "You can't give up Jesus." Again, I looked around and no one was paying any attention to me. It repeated again, and perhaps one more time.

I found myself saying, "I can't give up Jesus. I can't give up Jesus." The voice of the minister had faded. I wasn't aware of anything except that thought. I knew to convert to Judaism was to deny Jesus. It turned out I wasn't prepared to do that.

Strangely, even in spite of hearing an audible voice inside my head, I continued to be lost. I searched on the internet for an acceptable church. When I would find a local church that accepted and endorsed the gay lifestyle, I would get excited and go try it out. However, I never went back to any of those churches. It was as if there was a heavy cloud over every single one of them. It was like a giant room lit with only a few 25-watt bulbs. Any church that would accept me as a practicing lesbian lacked all credibility with me. I knew it was wrong, and having someone tell me it was right made me lose all respect for their authority.

I began reading theologians in what is called Progressive Christianity such as Marcus Borg and John Shelby Spong. While their theology was appealing to someone who wanted Jesus without sacrifice, Christ without obedience, I was still hungry. The intellectual spin was interesting, but didn't sound the bell of truth in my spirit. I had experienced a relationship with God when I was a child. I longed to be deeply loved and cherished by Him.

Excerpt from "Prodigal Pursued" by Michelle D. Smith. Former Assistant District Attorney, Michelle spent nearly 25 years as an out, loud, and proud lesbian. A feminist, separatist and anarchist, she wandered through New Age beliefs, witchcraft, Buddhism, agnosticism and all the other "isms" available to explore. At last she encountered the undeniable, indescribable love of Jesus, and everything changed. Today Michelle not only reaches out to touch the LGBT community with the love of God, but also speaks to the church, sharing a message of hope to those who feel they have lost a loved one to the LGBT lifestyle.

Link:

http://www.charismanews.com/opinion/57327-how-god-conquered-one-lesbian-s-heart

Thursday, May 12, 2016

#1MDB: Digging Up More Dirt

S’porean Ex-banker Linked With 1MDB Faces New Forgery Charge

By Kelly Ng. Published by Today Online on 12 May 2016.

Former private banker Yeo Jiawei, who has been linked with global investigation into Malaysia’s state investment fund 1Malaysia Development Bhd (1MDB), is facing an additional charge of forgery which Singapore prosecutors described on Thursday (May 12) as opening up “an entirely new front” in the probe by the Republic’s authorities.

Yeo, 30, now faces a total of seven charges. While the previous six charges made no mention of 1MDB or any related entities or individuals, the new charge alleges that Yeo had fraudulently signed a reference letter on Dec 23, 2013 to Citigroup Inc’s head of anti-money laundering to facilitate a transfer of US$11.95 million (S$16.37 million) from SRC International (Malaysia) Limited to Affinity Equity International Partners Limited, a firm owned by someone called Tan Kim Loong.

SRC International, which is a subsidiary owned by Malaysia’s Finance Ministry, had made headlines earlier this year for having transferred millions of ringgit into the personal accounts of Malaysian Prime Minister Najib Razak.

Najib's Stepson Alleged To Have Used US$50m From 1MDB To Buy Properties In U.S. - WSJ Report

By Chen Shaua Fui. Published by The Edge Markets on 12 May 2016.

Prime Minister Datuk Seri Najib’s stepson Riza Aziz Najib was alleged to have used at least US$50 million (RM201 million) diverted from 1Malaysia Development Bhd (1MDB) to acquire luxury properties in New York and Los Angeles, according to documents sighted by The Wall Street Journal (WSJ) and people familiar with the matter.

WSJ reported today that Riza Aziz had used money originating from 1MDB to buy a 7,700-square-foot duplex in the Park Laurel condominium tower, overlooking New York’s Central Park. He bought the US$33.5 million property from Jho Low.

Riza Aziz also bought an 11,000-square-foot walled mansion in Beverly Hills, with a 120-foot-long pool, for more than US$17.5 million, WSJ reported.

The Journal wrote that the financing of those purchases was under investigation by the Federal Bureau of Investigation (FBI), which is conducting a wide-ranging inquiry into alleged misappropriation of billions of dollars from 1MDB, according to people familiar with the probe.

Investigators believe money used to buy the two properties, was part of at least US$238 million transferred to Red Granite Capital, an offshore company wholly-owned by Aziz, from Aabar Investment PJS Ltd, which was registered at BVI (Aabar BVI).

Aabar BVI has a similar name with the subsidiary company of International Petroleum Investment Co (IPIC), a business partner of 1MDB. Investigators believe Aabar BVI played a central role in the alleged multibillion-dollar fraud.

The Journal previously reported Aziz’ film company received US$155 million in loans originating from 1MDB, much of which went into financing the 2013 movie The Wolf of Wall Street, it added.

WSJ link:

http://www.wsj.com/articles/malaysian-leader-najibs-stepson-allegedly-funded-u-s-property-deals-with-1mdb-money-1463022324?mod=fox_australian

Malaysia Says Fiscal Position Intact, Denies It Will Raise GST To Pay 1MDB Debts

By Melissa God. Published by Channel NewsAsia on 12 May 2016.

Malaysia says its fiscal position will not be affected by defaults from its wholly owned subsidiary 1Malaysia Development Berhad (1MDB) and denied rumours that its raising the country's broad based consumption tax - the GST - to shore up its coffers.

Deputy Finance Minister Chua Tee Yong on Thursday (May 12) slammed those responsible for spreading rumours on social media that the government is set to raise Goods and Services Tax (GST) from 6 to 8 per cent in June to raise money to pay 1MDB's debts in the wake of troubled state fund recent default to bondholders.

Malaysia introduced the broad based consumption tax in April last year to replace the sales and services tax, to diversify its revenue to make it less reliable on income from oil and gas. But the GST has been blamed for rising cost of living, burdening the people who are already feeling the heat from a lower ringgit and a slowing economy.

Thursday, May 5, 2016

#SarawakElection: Whose Money? The Owner Becomes A Beggar

By Nawar Firdaws. Published by Free Malaysia Today on 4 May 2016.

Now is not a suitable time to consider increasing the oil royalty for Sarawak, said Prime Minister Najib Razak today. This, he explained, was due to the massive losses in the country’s revenue caused by the significant drop in global crude oil prices. “The national revenue is in a critical state, having lost RM40 billion.

“But we will try to support Sarawak’s development needs and we have approved more allocations for the state, on top of what was provided in the 2016 Budget.” Najib was speaking at a press conference held after a Cabinet meeting this afternoon. The meeting took place at Wisma Bapa Malaysia here – the first time after 2011 that the Cabinet has met outside Putrajaya.

By Daryll Law. Published by Borneo Post Online on 5 May 2016.

Prime Minister Datuk Seri Najib Tun Razak has announced an allocation of RM20 million over the next two years for the state People’s Volunteer Corps (Rela) specifically for the purchase of uniforms.

“I will approve RM10 million for uniforms, I will approve RM10 million this year, I will approve RM10 million next year, so it is now RM20 million,” he said when addressing a crowd of about 12,000 Rela personnel at the leaders-meet-Rela programme at Borneo Convention Centre Kuching (BCCK), yesterday.

Meanwhile, Najib on behalf the Chief Minister Datuk Patinggi Tan Sri Adenan Satem, announced that the state government had also allocated a 38-acre plot of land in Sematan for the setup of a Rela training centre.