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Umno Youth plot twist; 'China to the rescue?'; 1MDB financial statements doubts

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

Umno Youth lodges police report on conspiracy to topple PM

Umno Youth vice-chief Khairul Azwan Harun has lodged a police report accusing former Bank Negara Malaysia governor Zeti Akhtar Aziz, former attorney-general Abdul Gani Patail and outgoing Malaysian Anti-Corruption Commission chief Abu Kassim Mohamed of conspiring to topple the prime minister.

They did so by leaking confidential information and fake documents to foreign agencies, Khairul Azwan alleged.

 

 

Zeti said she will not comment without legal counsel, Abdul Gani dismissed the report as a "publicity stunt" while Abu Kassim will issue a statement on the matter today.

However, Khairul Azwan's report left former Information Minister Zainuddin Maidin questioning if Umno Youth chief Khairy Jamaluddin was kept in the loop.

China covers 1MDB debt, but taxpayers to pay?

Sarawak Report published allegedly leaked documents detailing how China Communications Construction Company (CCCC) will hike up the cost of the double-track East Coast Rail Project (ECRP) from RM30 billion to RM60 billion in a move to secretly pay off 1MDB debts.

The debt payments will be made through unrelated third parties from China.

 

 

The project will be funded by a loan from China, so taxpayers will ultimately pay for it through loan repayments over the next seven years, the documents show.

In return CCCC will get 1MDB's Ayer Itam land at a cheaper price and other incentives, such as tax breaks.

Don't rely on our financial statements, 1MDB says

1MDB said its 2013 and 2014 audited financial statements should not be relied upon, pending the outcome of the US Department of Justice filings to seize assets linked to 1MDB.

 

 

The 1MDB board said it is confident there is no wrongdoing but it is taking a precautionary measure in calling for the statements to be disregarded until the court determines the outcome of allegations made in the lawsuits.

It added its auditor, Deloitte, notified 1MDB of its intention to resign in February, but will remain auditor until a replacement is found.

Other Kinibites

Inspector-general of police Khalid Abu Bakar said police investigations into 1MDB should not be rushed, and details should be disclosed so those implicated would not go into hiding.

Blogger Papagomo has to pay PKR de facto leader Anwar Ibrahim RM800,000 in damages for defamation after he lost his final appeal on the matter at the Federal Court.

 

 

The Court of Appeal found DAP's Seputeh MP Teresa Kok's detention under the Internal Security Act eight years ago to be illegal. She was awarded RM350,000 in damages.

PKR vice-president Rafizi Ramli cried foul over "inexperienced" TH Heavy Engineering (THHE) allegedly getting a RM740 million contract to supply offshore patrol vehicles. THHE said it is still in preliminary discussions with government.

The much criticised National Security Council Act will come into force this coming Monday, despite not being given royal assent.

De facto law minister Azalina Othman believes cyber laws need to be upgraded to curb social media abuse.

Looking ahead

Abu Kassim promised to issue a statement today on Umno Youth's police report that he is involved in a plot to oust the PM.

Penang Chief Minister Lim Guan Eng will hold a press conference today, believed to be on the proposed snap election, although PKR's central committee is not convinced on the need for an election in Penang now.

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