AN arrest warrant has been issued for financier Low Taek Jho by Malaysian authorities conducting a probe into troubled state investment fund 1Malaysia Development Berhad, Bloomberg reports today.
Quoting sources, the report said arrest warrants are also being drawn up for former Goldman Sachs banker Roger Ng and a former 1MDB official Shahrol Halmi.
The Malaysian Anti-Corruption Commission has also issued an arrest warrant for Nik Faisal Ariff Kamil, a former 1MDB official, it said.
The four individuals have not been charged with any wrongdoing.
MACC in a statement earlier today sought public help to trace Low, a Penang-born businessman said to be the mastermind behind the siphoning off funds from 1MDB, and Nik Faisal.
Bloomberg said Ng was Goldman Sach’s head of Southeast Asia sales and trading, who had helped 1MDB raise funds.
Ng resigned in April 2014 and now works as the Asia director in an energy drink manufacturer called Celsius Holding. – THE MALAYSIAN INSIGHT
RM2.6bil, cash and valuables linked to Najib probed for possible income tax violations
PUTRAJAYA: The Inland Revenue Board (IRB) says the RM2.6 billion received by former Prime Minister Datuk Seri Najib Tun Razak is now subject to further examination.
Its chief executive officer, Datuk Seri Sabin Samitah (pic), said that in light of the disclosure by current Malaysian Anti-Corruption Commission (MACC) chief, Datuk Seri Shukri Abdull, and ongoing investigations on all issues related to 1Malaysia Development Bhd (1MDB), the taxation for the said RM2.6 billion will now be subject to further examination.
On Feb 16, 2016, the agencies investigating the RM2.6 billion had found that it was a voluntary “donation”, and thus not subject to income tax, he said.
However, Sabin explained that even such a voluntary payment may change in character and be subject to tax.
This can happen if, “it is given repetitiously, as consideration for services rendered, in return for any benefit of any kind, or if the amount is used in a business activity to sustain business operations,” he said in a statement on Thursday (June 7).
He made these comments after recent developments on the RM2.6 billion, as well as cash and other valuables recently seized from Najib-linked residences.
Sabin said to ascertain the true nature of the RM2.6bil, the IRB would work closely with all agencies and the newly formed task forces involved in 1MDB investigations.
With regard to the seizure of cash and valuables, Sabin said a notice under section 78 and 79 of the Income Tax Act 1967 will be issued by the Director-General of Inland Revenue to individuals connected to the items seized.
He said the purpose of the notice was to ascertain whether sufficient disclosure of income had been made to the IRB commensurate with the assets (cash and valuables) owned by a particular individual.
In the event of unexplained wealth, additional tax will be raised. There is also penalty up to double the amount of tax under-declared.
“Failure by a person to comply with the notice within the specified time is an offence and can be prosecuted under the Income Tax Act 1967,” he said. – Bernama
Najib sets up office to meet supporters, guests
FORMER prime minister Najib Razak is setting up an office to handle his personal affairs, including receiving guests.
He said he has been inundated with visitors, such as Umno leaders from all over the country and friends, who wanted to show him some support and share views.
He has been meeting the visitors at his private residence in Langgak Duta, Taman Duta in Kuala Lumpur. He, however, did not say where the new office would be.
“They have been coming non-stop. So I am in the process of setting up an office to deal with personal matters and to make it easier for those who want to see me.
“I will also continue to give my cooperation to the authorities on the investigation against me, which are actually political vengeance.
“I have already given my statement twice to MACC (Malaysian Anti-Corruption Commission),” he said on his Facebook page today.
Najib is being investigated for alleged money-laundering in relation to the 1Malaysia Development Bhd scandal.
The former Barisan Nasional and Umno leader, who resigned from his party posts after BN’s crushing defeat in the 14th general election last month, said he was also spending time with his family, especially his children and grandchildren.
“My family and I will spend the coming Hari Raya in Pekan,” he said, referring to his parliamentary constituency in Pahang.
He also said he was giving out zakat (tithes) to the needy, although the contributions this time were lower than before when much came from federal agencies.
To his Umno comrades, he said he would continue to lead the party in Pekan, adding that he was offering himself to contest for the division chairman post.
He urged Umno members to continue the party’s struggle.
“I have taken responsibility over our loss in GE14… we have to rise again, the time to be sad is over.
“We have to take stock, strengthen our resolve and the party’s, and overcome our weaknesses so we can regain the people’s confidence.
“We must keep our spirits strong, be more resilient and continue to heal Umno that has done so much for the country.” – THE MALAYSIAN INSIGHT
THE MALAYSIAN INSIGHT / BERNAMA
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