Trial By Media Could Be in 1MDB’s Favour

A Kadir Jasin

THE Star newspaper reported today that 1Malaysia Development Berhad (1MDB) had said that a trial by media is of no benefit to anyone who is ­genuinely interested in the truth about the company.

In a statement yesterday, its board of director said recent ­questions posed to it through the media was an attempt to influence public opinion ahead of the Public Accounts Committee (PAC) and the Auditor-General (AG) completing their reviews into its operations.

“It is clear from the selective presentation of facts, lack of supporting evidence and biased reporting that an attempt is being made to shape public opinion,” said 1MDB.

The 1MDB board argued that the search for truth must be fact-based and ­conducted by trustworthy, unbiased and impartial parties. 

“Accordingly, the board will fully co-operate with and will only reply to questions posed by the bi-partisan PAC, the Auditor-General and relevant regulatory authorities.”

1MDB Has Backers

My question is, why should a trial by the media be bad for 1MDB?

I believe that the mainstream media outlets like RTM, TV3, the New Straits Times, Utusan Malaysia and Berita Harian are fully behind the government and 1MDB in the ongoing debate.

The government and 1MDB should show confidence in the ability of these news organisations to ward off the alleged attempts by independent news portals and “unfriendly bloggers” to mislead or influence public.

Furthermore, only a few days ago the Prime Minister, (Datuk Seri) Mohd Najib Abdul Razak, feted hundreds of friendly newspapermen and bloggers at the Malam Media Perdana 2015 in Kuala Lumpur to thank them for their support. 

Malam Media Perdana heightens support for PM

Surely their resolve to defend him, his government and 1MDB had been replenished and heightened.

Or 1MDB board members fear that the “selective presentation of facts, lack of supporting evidence and biased reporting” by the portals and blogs could make sense with the investigators and would raise them when they question 1MDB representatives.

With daily revelations that more and more government-linked companies (GLCs), government-linked investment companies (GLICs) and trust agencies are involved in lending money to 1MDB, the public has every right to ask questions.

Today Mohd Najib himself admitted that the civil servants retirement fund– the Kumpulan Wang Amanah Pencen (KWAP) – has “invested” RM1.4 billion in 1MDB and its subsidiaries.

In a written reply to Rafizi Ramli (PKR-Pandan), the Finance Minister said the subsidiaries were Bandar Malaysia Sdn Bhd, 1MDB Energy Limited, 1MDB Global Investment Limited and Jimah Energy Ventures Bhd.

Najib also said the Employees Provident Fund (EPF) has subscribed to 1MDB bonds totalling RM200 million in 2009, which is fully guaranteed by the government.

"EPF also has investment exposure on 1MDB's subsidiaries namely Panglima Power Sdn Bhd (PPSB) and Jimah Energy Ventures Sdn Bhd totalling RM1.52 billion," said Mohd Najib.

The EPF's involvements in these subsidiaries took place in 2003 and 2005 respectively before they were bought over by 1MDB in 2012, he added.

So don’t blame the independent media and bloggers if they ask questions because what they picked up from the roadside (to borrow the term used by Mohd Najib’s special assistance Encil Rizal Mansor) turned out to be true with the passing of time.

Wallahuaklam.