Malaysiakini
NEWS

1MDB board outrage as US$700m goes to Good Star

Aidila Razak

Published
Modified 11 Apr 2016, 1:38 am

Slightly over half a year since its conception as Terengganu Investment Authority, the now Finance Ministry-owned 1MDB made its first deal - and blunder.

On Sep 30, 2009, it parted with a massive US$1 billion after less than two weeks of due diligence - a whopping US$700 million of which went to an unrelated firm, Jho Low-linked Good Star Limited.

On social media that day, Li Lin Seet, an associate of Low whom Sarawak Report linked to the deal, mentioned feeling “the earth moving”. Eleven days later Li was in Las Vegas, guzzling world’s expensive champagne, Cristal.

All Access Plan
Thank you for your continuous support. To celebrate our 21st year anniversary with you, we're giving you 21% off when you renew your subscription or join us with the promo code
Offer lasts until Nov 27
starting from

~RM12
~RM10
PROMO

per month
Get Your Discount Here
You can cancel anytime.
Get unlimited access to our articles on web and apps
Add comments to our articles
Bookmark articles to read later
We accept
Student or Senior Citizen? Get a special rateGroup / Institutional / Corporate Plans
Already Subscribed?
Sign In

Share this story

Advertisement