Press Statement: Will Najib Explain the RM2.3 mil Payment via DuSable?

I just did a press conference on the DuSable 1MDB story in Parliament with YB Gooi of Alor Setar. If the PM refuse to explain the relationship fully, YB Gooi and I will visit the US Embassy for further clarifications.

My statement is as below:

2ndNovember 2015

Press Statement Wong Chen MP for Kelana Jaya

Will Najib explain the RM2.3 million payment via DuSable?

Last week, on 27th October 2015, I got a written reply from Prime Minister Najib that 1MDB has never signed any joint venture or partnership agreement with DuSable Capital Management LLC (DuSable) for a solar power project in Kedah.

In a press conference last Friday, I urged the Prime Minister to file a formal complaint to the US Department of Justice (DOJ), because contrary to the Prime Minister’s position, DuSable had disclosed to the DOJ on 23rd April 2014, that DuSable had entered into a partnership with 1MDB to develop, finance and construct a 50MW solar project in Malaysia.

It has now come to my attention that in addition to the two DOJ disclosures of DuSable over its dealings with 1MDB, DuSable also disclosed on 30th April 2014 a Supplemental Statement. The Supplemental Statement disclosed that 1MDB is a partner in the solar power project in Malaysia. The Supplemental Statement also stated that DuSable had disbursed money on behalf of the Government of Malaysia, a sum of USD 542,394.10 (RM 2.3 million) relating to the solar power project. Payments were for salaries, consultants, lawyers, accountants and travel reimbursements.

The single largest recipient of payments was to an American law firm Skadden, Arps, Slate, Meagher & Flom LLP totalling USD 274,526.11 (RM1,178,000) for legal services re solar project in Malaysia. The substantial amount of legal fees paid suggest either:

(a) an agreement has concluded; or

(b) a lot of work was carried out to finalise an agreement.

With the declaration of payments amounting to USD 542,394.10 (RM 2.3 million), it is now evidently clear that some form of business relationship exists between DuSable and the Government of Malaysia or 1MDB.

Will the Prime Minister now fully disclose what that business relationship between 1MDB/Government of Malaysia and DuSable? Will the Prime Minister also account for the RM2.3 million spent for the benefit of 1MDB?

Here are four news links to my press conference yesterday.

This 1MDB – DuSable story is getting more and more curious.

1. DuSable reported to the US Department of Justice that they are in some sort of partnership with 1MDB over a solar project in Malaysia.

2. Money of RM2.3 million was paid to DuSable by the Government of Malaysia.

3. A lot of legal fees were paid (RM1.2 million) , suggesting a deal has concluded or at least near finalisation stage. For legal fees to amount to RM1.2 million, this must be a mega project.

4. Yet, PM Najib says there is no link whatsoever between DuSable and 1MDB.

5. Why? Why the blanket denial? Is there something fundamentally wrong with the deal? Is this deal just too close for comfort for Obama and the White House?…/najib-must-come-clean-dusab……/mp-presses-on-with-quer…/…/najib-told-to-explain-…

Things are just so coincidentally strange. Just as I am writing about 1MDB – DuSable link, an article in The Guardian reveals that the US has overtaken the Cayman Islands and Singapore, in terms of hiding money for the super rich.…/united-states-overtakes-cayman…

Category: Parliamentary Issues, Press Statement

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- November 2, 2015

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