The Deputy Governor of the Central Bank Of Malaysia, Zamani Abdul Ghani (deputy chief of the Malaysian equivalent of the Fed) has refused to disavow knowledge of the following:
A) That in a letter to him from Reezal Merican Naina Merican, political secretary to the Malaysian Prime Minister , Abdullah Badawi , who is also Malaysia’s Minister for Finance, dated 15 June 2006, he was instructed to give ”careful consideration” to the issuance of Malaysian Government bonds and guarantees to secure a financial facility for the value of USD 50 billion, via a private company Asasatu Technology Sdn Bhd.
B) that the above letter included another letter dated 30 May 2006 on Asasatu Technology Sdn Bhd letterhead which contained instructions to him from Prime Minister and Finance Minister Abdullah Badawi, in regards to the above matter , minuted on its face.
C) that a meeting was held at Level 7C of the Malaysian Central Bank on 25 October 2005, to discuss the above facility, and that the meeting was attended by:
i) Ms Lee Guat Keow, senior manager of the Foreign Exchange Administration Department , Central Bank Malaysia
ii) Zubir Ahmad CEO ,Asasatu Technology
iii) Robert Power, executive director of Project Equity Services
Deputy Governor Zamani had earlier refuted as "rubbish" queries concerning the USD 50 billion facility,and the Central Bank's role in securing the facility.He has remained silent since the details above were put to him.
Robert Power of Project Equity Services has provided the following response when questioned about the facility:
We are part of a group of legal entities which currently has project financing matters pending from Russia to Switzerland to China, Canada, Australia, USA and elsewhere in Asia. We are privately owned and do not confirm or deny any independent enquiry. Please also be advised that there exists under Australian Law a Privacy Act.
We fund and/or invest mainly in USD, with funds being clean, clear funds of non-criminal origin.
Project Equity Services might be, charitably, described as low key ; in truth, the company operates out of a small office in Sydney and is not known as a financier of any sort.
The "group of legal entities" appear to be shelf companies.
That the company should be able to obtain entree to the highest level of government in Malaysia raises further questions as to the intent of Malaysian Government officials who have lent their support to Project Equity Services and the facility it offers.
These officers include those named above as well as the Deputy Minister for Finance, Nor Mohamad Yackop.
Power has also not denied that he has corresponded with the Central Bank via the office of the Second Minister for Finance , Nor Mohamad Yackop (the second minister has full ministerial status).
Nor Mohamad was an adviser to SDGT Yassin Al-Kadi and his Abrar Group in the mid-nineties. He was also a business associate of Kadi and Abrar, this being evident in a series of transactions in which Kadi and his other associates took some of their interests in Malaysia and the US public by backing those interests into a company listed on Malaysia’s Kuala Lumpur Stock Exchange that Yackop had taken control of.
Both Yackop and Prime Minister Badawi have ultimate control over the decision making processes of the Malaysian Ministry for Finance that oversees all (and this is said without exaggeration) financial businesses and transactions within the country. Hence, both men have final say in the continued operation of the USD 8 billion Commercial IBT in Malaysia, a company that has been linked to Al-Kadi and his associates, as well as Al-Kadi’s other businesses in Malaysia. (see www.terrorfinance.org/the_terror_finance_blog/
In 2004 Prime Minister Badawi was named in the Volker Report as a beneficiary of oil allocations granted by Sadam Hussein under the UN-Iraq Oil-for Food scheme. The allocations were made to a company named Mastek Sdn Bhd , controlled by his late wife’s sister and her then husband, Faek Ahmad Shareef , an Iraqi who had settled in Malaysia.
Mastek was one of the largest recipients of those allocations.
Comments