Shafee reportedly told pressmen that the MACC had asked for a seven-day remand order but the magistrate only assented to four days.
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It said that in September 2009, PetroSaudi gave the new joint venture company a US$700 million loan, which was then repaid directly from 1MDB to Good Star Limited, which Low controlled, according to The Edge.
The investment arm meanwhile had ended up with murabaha and promissory notes which they claimed to be worth US$2.23 billion.
Controversial Hong Kong-based businessman Jho Low is facing a renewed barrage of accusations for allegedly trying to defraud a troubled state-owned wealth fund with fresh evidence of him supposedly funnelling at least US$700 million into a company linked to him.
In a statement, 1MDB, which is now under probe by the Public Accounts Committee (PAC), said it had noted the “allegations” and “unsubstantiated statements” as published in the business daily.
The Financial Daily in its frontpage report today has focused mainly on the joint venture and the trail of worldwide money.
“We have a duty to find and report the truth”.
Its publisher and Group chief executive officer Ho Kay Tat said the materials were handed over to Bank Negara on Monday (Jul 20). He said this would likely be the last report on the matter and that it would be handing over whatever it had to the agencies investigating 1MDB.
“1MDB reiterates our commitment to fully co-operate with all lawful authorities that are now investigating 1MDB”, it said.
It said they were surprised that these unproven allegations were being recycled yet again when multiple ongoing investigations were being conducted by the lawful authorities pertaining to issues raised on 1MDB’s dealings. The strategic fund has also sacked two auditors, KPMG and Ernst & Young, during the period.
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The Edge was previously issued a show-cause letter by the Home Ministry regarding its reporting on 1MDB.
