News by M

Not only is 1MDB's RM42 billion debt a known fact, but the links between Tabung Haji's top executives and the strategic investment fund, which is owned by the Finance Ministry, are red flags

The Umno vice-president became the latest party leader to weigh in on the fund that has seen critical statements from other leaders since the news broke that Lembaga Tabung Haji had bought land from 1MDB when it was known that the strategic development fund was in massive debt

Tabung Haji's deputy CEO Datuk Johan Abdullah, who is also chairman of 1MDB subsidiary Edra Global, was the leading figure in all negotiations leading to the fund's purchase of the land, which is part of the Tun Razak Exchange project

Azeez said Najib had advised him to dispose of the land so that the fund's reputation is not "tarnished" due to its business transaction with 1MDB

Other members from Umno who have spoken out against the land deal include former deputy minister Datuk Saifuddin Abdullah and Public Accounts Committee chairman Datuk Nur Jazlan Mohamed

Former Umno deputy minister said the wealthy pilgrims' fund was only supposed to invest in shariah compliant businesses

Describing the deal as a bailout, Dr Mahathir wrote in his blog that the money of Tabung Haji contributors was being used to rescue 1MDB

"We are happy to receive these awards because they elevate the profile and good name of the projects," Mah Sing Group general manager of marketing and sales Yeoh Chee Cheng told theedgeproperty.com

Umno Youth worried that institutions like Tabung Haji being used to rescue 1MDB

EcoWorld will be issuing 394,044,000 new shares, representing about 20% of its issued and paid-up share capital, pursuant to the book-building exercise