PKR vice-president Rafizi Ramli today brought to light again questions of whether the pilgrim fund Lembaga Urusan Tabung Haji's is implicated in the 1MDB scandal, through its investment in a firm linked to SRC International.
The firm is Putrajaya Perdana Bhd, 30 percent of which was acquired by Tabung Haji in November 2014.
Putrajaya Perdana's subsidiary Putra Perdana Development received RM140 million from SRC International, according to a chart held up by attorney-general Mohamed Apandi Ali at a press conference where he cleared Prime Minister Najib Abdul Razak of wrongdoing in the SRC case.
According to the chart the transfers happened in batches in July and August 2014, three months before Tabung Haji bought 30 percent of Putrajaya Perdana.
"Ismee Ismail must say if he knew that RM140 million was transferred from SRC International (to a Putrajaya Perdana subsidiary) when Tabung Haji bought the 30 percent stake in Putrajaya Perdana for RM193.5 million," Rafizi said in a statement today.
Ismee Ismail is Tabung Haji chief executive officer and was 1MDB director up to 2016, when the board resigned en bloc following the publications of the Public Accounts Committee's findings of irregularities in 1MDB. Ismee was also SRC International director.
The Tabung Haji link was first raised by DAP's Petaling Jaya Utara MP Tony Pua, who questioned if the pilgrim fund had bailed out the Jho Low-linked Putrajaya Perdana.
Putrajaya Perdana was previously acquired by 1MDB-linked businessman Jho Low's vehicle Abu Dhabi Kuwait Malaysia Investment Corporation (ADKMIC) before sold to then Sarawak chief minister Abdul Taib Mahmud’s UBG Bhd, all of which took place in 2007. Taib in turn, sold a majority stake in UBG to ADKMIC in January 2008.
Petrosaudi International Ltd (Seychelles) then acquired UBG for RM1.4 billion, which was partially funded by a US$500 million loan by 1MDB to Petrosaudi in September 2010.
Did Tabung Haji do due dilligence?
In a statement today, Rafizi also urged Tabung Haji chairperson Abdul Azeez Abdul Rahim to reveal if due dilligence was done by the fund when it purchased a stake in Putrajaya Perdana.
"This is crucial because if due dilligence was done, Tabung Haji would have detected a flow of RM140 million to Putra Perdana Development, a wholly-owned subsidiary of Putrajaya Perdana," he said.
He also urged Abdul Azeez to explain why Tabung Haji decided to invest RM193.5 of depositors' contributions into Putrajaya Perdana and if the investment was cleared by the fund's investment panel.
"What was in the investment risk report which assessed the risk of this investment, tabled at the investment panel?" he asked. - Mkini