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Kini Roundup: 1MDB banker BSI in hot soup, Amanah to oppose PAS in by-elections

Here are the key headlines from yesterday that  you may have missed, in brief.

1MDB banker BSI in hot soup

Swiss-based BSI Bank which is the banker to government investment arm 1Malaysia Development Bhd (1MDB), appears to be in hot soup as foreign authorities take legal action over its alleged links to questionable money transfers from the sovereign fund.

 

 

The Monetary Authority of Singapore ordered the island republic's BSI branch, which is being investigated for its dealings with 1MDB, to close down after withdrawing its merchant banking credentials for serious breaches of anti-money laundering procedures, poor management oversight and staff misconduct.

Back home in Switzerland, the Office of the Attorney General (OAG) commenced criminal proceedings against the bank for allegedly failing to prevent offences linked to 1MDB

Faced with the twin developments, BSI's group CEO Stefano Coduri resigned with immediate effect, as the bank said it is fully cooperating with investigations by the Singapore and Swiss authorities and is taking steps to strengthen its management.

Following reports of the legal actions against BSI, 1MDB said in a statement that it still has not received any communication from either authority.
 

Amanah to oppose PAS in by-elections

Parti Amanah Negara (Amanah) is prepared to contest in the June 18 Sungai Besar and Kuala Kangsar by-elections to oppose PAS, which appears to be aiding Umno-BN, Amanah deputy president Salahuddin Ayub said.

Selangor DAP has thrown its support behind Amanah in the Sungai Besar by-election, warning that party grassroots may end up voting for BN if the opposition was represented by PAS.

BN lawmakers welcomed the proposal for Amanah president Mohamad Sabu to contest in the Sungai Besar by-election, saying that the contest would serve as an avenue to showcase the fledgling party’s strength versus PAS.

Former minister Zaid Ibrahim sees the Sungai Besar by-election as a platform for Selangor Menteri Besar Azmin Ali to emerge as the new opposition de facto leader and displace jailed opposition leader Anwar Ibrahim - if Azmin can deliver this win for Pakatan Harapan.

 

 

More Kini bites

 

80-year-old 'birthday boy' Sarawak governor Abdul Taib Mahmud received a surprise gift from his wife Ragad - a RM1.5 million white Bentley Continental GT V8 S convertible, affixed with gold ribbons.

 

The National Union of Flight Attendants Malaysia (Nufam) handed over a memorandum addressed to two ministries yesteday, voicing its disappointment over the lack of assistance for terminated Malaysia Airlines (MAS) employees.

Malaysia Airlines Bhd (MAS) has lost its edge and can't prosper in the open sky policy says former CEO Abdul Aziz Abdul Rahman, arguing that workforce cutbacks and the selling off of planes by outgoing chief executive Christoph Mueller has left the airline without resources to effectively compete.

 

Looking ahead

The suit by families of MH370 victims suit against MAS will be up for case management at the High Court in Kuala Lumpur at 9am today.

The Dewan Rakyat sitting continues.

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