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Gov't insists Good Star belongs to PetroSaudi
Published:  May 26, 2016 11:14 AM
Updated: 4:00 AM

PARLIAMENT The government continues to insist that Good Star Limited, the firm which received US$1.03 billion from 1MDB, belongs to PetroSaudi International.

This is despite a revelation by Public Accounts Committee member Tony Pua that Bank Negara had found that Good Star was owned by an individual not linked to PetroSaudi.

"According to 1MDB's company records, Good Star was owned by PetroSaudi at the time the payment was made.

"PetroSaudi also acknowledged receiving the funds based on agreements signed at the time of the payment," the Finance Ministry said in a written parliamentary reply yesterday.

This was in regard to the US$1.03 billion payment from 1MDB meant for a joint venture with PetroSaudi, but was diverted to Good Star.

The Finance Ministry was responding to a question from Pua who wanted to know the real owner of Good Star.

In his question, Pua made reference to a Bank Negara statement to PAC on Good Star which was not included in its report on 1MDB.

The central bank statement reads: "Bank Negara Malaysia had been informed voluntarily by the authorities of that country that Good Star Limited is a company owned by an individual that has no links to PetroSaudi Group."

Minister in the Prime Minister's Department Azalina Othman Said, however, said that line was expunged from the PAC report as it was confidential.

Good Star Limited has been linked to Penang-born tycoon Jho Low, who denies being part of the company.



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