PetroSaudi, Petronas and 1MDB

[Tom Kirkman + 8,860]

Holy sh*t my phone is exploding with messages since I posted this morning on LinkedIn.  Having trouble keeping up:

https://www.linkedin.com/feed/update/urn:li:activity:6418231960677814272

Direct link to article:

Cover Story: How PetroSaudi executives plotted what to tell Najib

Email referenced in the article:

My old screencap taken from 1MDB website from 2 years ago, Petronas Chairman (who resigned this week) was on 1MDB Board of Advisors:

 

Hope this doesn't land me in hot water...

[Tom Kirkman + 8,860]

Excerpt from the email:

============================

Petronas
1.   I discussed doing a big deal with Jho to plug the hole and come up with that $1b that will make us be able to dissolve the JV with 1MDB. The best thing we have on the table at the moment is CITGO. We need to position this as a political thing and also giving further access to upstream assets in Venezuela for Petronas if they do this deal.

2.   Things to discuss with PM on this are: 1) we need direct access to petronas because we cannot keep bugging the PM every time we have a deal and want to sound it off petronas. We understand that it needs to be discreet access but there has to be somebody in there (CEO or other) who is his guy that can help us understand what ideas will be good for petronas and how to present them. We cannot do this through Jho because Jho doesn't get oil and gas and also nobody respects him in Petronas. 2) Get him excited about CITGO and how it would be a great help for the US to get this out of Venezuelan hands so would be big brownie points for Malaysia. Also for petronas it is a good business they understand and they would do Venezuela a huge favour and would therefore get access to many good upstream opportunities.

[Tom Kirkman + 8,860]

Malaysia's former Prime Minister Najib Razak was arrested yesterday.

From prime minister to arrest: Malaysia’s Najib Razak’s fall from grace

From prime minister of Malaysia two months ago to a key suspect in a massive corruption scandal, Najib Razak’s stunning fall from grace has been swift and hard.

Razak was arrested by anti-corruption investigators on Tuesday, officials said, the latest dramatic development in a widening graft probe that has engulfed the former leader. Najib will be charged on Wednesday, a taskforce set up to investigate corruption involving 1Malaysia Development Berhad fund (1MDB) said in a statement adding the arrest "was made at his home".

The arrest is the latest in a series of stunning moves by investigators which suggest the legal noose is tightening around Najib, his family and many of his close political and business allies.