An application for an injunction will be filed in court next week to stop several funds from making further investments in 1Malaysia Development Bhd (1MDB), said Pandan MP Rafizi Ramli.

 

These are the Retirement Fund Incorporated (KWAP), Employee’s Provident Fund (EPF) and Lembaga Tabung Haji (Pigrims Fund Board), which have already made such investments in the past.

 

"We want to make sure that they would think twice or thrice before putting money in 1MDB after this," he said during a talk in Serdang tonight.

 

He said as the 1MDB scandal drags on, the state investment company would inevitably be looking for more cash to service its RM42 billion debt.

 

In such a situation, he expressed concern that the funds along with the money from its respective contributors would become more deeply involved in the scandal.

When approached for details for the application after the talk however, Rafizi told reporters that he would announce this at a press conference tomorrow afternoon.

He added that his lawyers are still drafting the legal documents for the application, which would be made on the basis that the funds had made "frivolous and careless investments" and should be prevented from doing so again.

He said the applications would be a part of a sustained campaign against 1MDB.

"The focus has to shift, not just on 1MBD but also on these public funds, because that is really hitting the public," he told reporters.

Rafizi admitted that the applications are likely to be thrown out, because class action lawsuits are not part of Malaysia’s legal system.

What is important, however, is to make a point, he said.

Need help for KWAP injunction

The Finance Ministry earlier told Parliament that Kwap has invested RM1.4 billion in 1MDB, while EPF has invested RM1.72 billion.

Tabung Haji said it paid RM188.5 million for a plot of land at 1MDB's Tun Razak Exchange, but decided to sell it following public pressure.

Earlier during the talk at a Serdang community hall to over 200 people, Rafizi said he has locus standi as a depositor at EPF and Tabung Haji to file two of the injunctions.

However, he would need help to file the injunction against KWAP because he is not a government pensioner.

"I would have to look for some old uncle who is willing to stand up against (Prime Minister) Najib Abdul Razak (photo) . Maybe I would ask (former Prime Minister Dr Mahathir Mohamad),” he quipped.

The audience laughed and cheered over the reference to the bitter public spat between the two.

Rafizi also accused 1MDB of spending public money for 'election campaigning' for BN by giving out goodies before the 13th general election, through is charity arm Yayasan 1MDB, chaired by Najib.

These include RM76 million spent to provide taxi drivers with vouchers to be exchanged for car tyres, and RM30 million spent to provide fishers with new nets.

He vowed to dig deeper into Yayasan 1MDB’s activities and expose it to the public.

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