Story of the year: 1MDB The Story of 2015

Story of the year: 1MDB The Story of 2015
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This article first appeared in The Edge Malaysia Weekly, on December 21 - 27, 2015.   

 

THE year 2015 was filled with headline-grabbing news but the Story of the Year has to be 1MDB. Although 1MDB is about business and finance, the fallout spread to politics, the media and government institutions. Here, we highlight some of the key twists and turns centred on 1MDB in 2015.

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June 5 Tun Dr Mahathir Mohamad was stopped by police minutes after taking the stage at the Nothing To Hide forum on 1MDB.

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July 8 Police carted away documents from 1MDB’s office as the 1MDB Task Force stepped up its investigations.

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July 27 The Edge weekly and The Edge Financial Daily were suspended for three months over their reporting of 1MDB. The High Court later ruled that the suspension was wrong.

July 28 Attorney-General Tan Sri Abdul Ghani Patail, who chaired the 1MDB Task Force, was replaced. Public Accounts Committee chairman Datuk Nur Jazlan Mohamad and four other members were made deputy ministers, effectively bringing PAC’s investigations into 1MDB to a halt. Tan Sri Muhyddin Yassin and Datuk Seri Shafie Apdal were axed from the Cabinet.

Sept 22 Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz says the public deserves answers to 1MDB.

Oct 6 Conference of Malay Rulers demands early resolution to 1MDB woes and action taken against any wrongdoers.

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Oct 8 The new Attorney-General Tan Sri Apandi Ali clears 1MDB of any wrongdoing after reviewing investigation papers submitted by Bank Negara.

Oct 9 Bank Negara orders 1MDB to send home RM7.5 billion that was previously approved to be sent overseas for investment.

Nov 23 Bank Negara fines AmBank an unprecedented RM53.7 million over weaknesses in reporting believed to be related to 1MDB.

Nov 23 1MDB announces sale of power assets for RM9.83 billion to a Chinese company.

Nov 30 & Dec 1 Former 1MDB CEO Datuk Shahrol Halmi and current CEO Arul Kanda Kandasamy finally testify to a reconstituted PAC under new chairman Datuk Hassan Ariffin.

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