PETALING JAYA: The arrest of Petro-Saudi International (PSI) director Xavier Andre Justo means nothing as far as Dr Mahathir Mohamad is concerned because billions lost by 1Malaysia Development Berhad (1MDB) is still not traceable and the latest revelations by the London Stock Exchange News Service was even more damning.
"Apologise for what? The fact remains that vast amounts of money has disappeared. Can Justo bring all the money back?" Mahathir said amid allegations that the director had tampered with PSI e-mails to cast 1MDB officials in a bad light.
However PSI and Justo aside, Mahathir said the International Petroleum Investment Company (IPIC)'s binding term sheet with the Minister of Finance Inc., Ministry of Finance and 1MDB via Aabar Investments PJS as reported by the London Stock Exchange News Service, posed more questions than answers.
On June 4, IPIC gave USD1 billion to 1MDB to settle some of its liabilities for which it is to receive the transfer of assets in return.
"Curiously no mention is made of what the 1MDB assets are which will belong to IPIC.
"What are the possible assets? If it is the power plants or the land (Tun Razak Exchange), it would mean that these assets no longer belong to 1MDB to sell.
"So how does 1MDB recover the RM42 billion it had borrowed?" Mahathir asked.
"Is Justo going to reveal there is anything worse than what the London Stock Exchange has revealed? So who needs to apologise?", the former prime minister asked in his latest blog posting in retaliation to those who have been saying that critics of Prime Minister Najib Razak owe him an apology.
He also said all the fuss about Justo blackmailing PSI meant "nothing" and added, "The supporters of the Prime Minister seem unable to understand that 1MDB borrowed 42 billion Ringgit to invest in shady businesses.
"In the process large amounts of money has disappeared."
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