Goldman And The Use Of Off-shore To Raise Public Money

IPIC made an announcement to the London Stock Exchange on 10 October 2018. The announcement concerned, among other things, the  resumption of its 1MDB guarantee obligations by Abu Dhabi’s Mubadalla. The announcment included these statements:
“Signum Guaranteed Obligations means the notes and loans ofSignum Magnolia Limited which are collateralised by the USD 1.75 Billion 5.75% Guaranteed Notes due 2022 of 1MDB Energy (Langat) Limited guaranteed by 1MDB and further guaranteed by IPIC.”
There does not appear to be any mention of Signum Magnolia Limited in any previous IPIC announcement which concerned 1MDB. Signum is a Cayman Island incorporated company. However Emirates NBD Bank describes in its 2012 Annual Report as a Malaysian company saying:
“Some of the notable transactions concluded during the year included acting as mandated lead arranger, advisor and bookrunner forsyndicated loans valuing USD 6.5 billion, arranged for high profile clients like Signum Magnolia Limited-Malaysia”[Realpolitkasia]

The Mysterious Roger Ng

TMF’s only bond issue in Malaysia manages Taib’s SCORE project in Sarawak and is repayed through his secretive Approved Agencies Trust Fund that absorbs over a third of Sarawak’s entire budget.

“Adenan [successor chief minister] has tried to justify these borrowings but failed miserably,” said Chong. “It only confirms my suspicion that there are great improprieties in these offshore loans taken by the Sarawak Government.”
..Who are the bond holders?” he asked. “Are these bond holders related to the top Barisan Nasional (BN) leaders with a lot of money overseas? Why is the Sarawak Government paying so much interest on these loans?” [Chong Chieng Jen, FMT ]

Banks In The Cross Hairs