Ganesh Sahathevan

by Ganesh Sahathevan The Saudi Aramco IPO is said to be well and truly underway. Even if a prospectus has yet to be issued, underwriters are reported to have already committed to the deal. Reuters has reported: Oil giant Saudi Aramco [IPO-ARMO.SE] has asked JPMorgan Chase & Co and Morgan Stanley to assist with its mammoth initial public share offer and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter said. The U.S. banks have joined boutique investment bank Moelis & Co in winning coveted roles in what is expected to be the world's biggest IPO, worth some $100 billion. Given this advanced stage,it is hard to understand why Aramco has added this last minute complication : Malaysia's Prime Minister Najib Razak announced on Monday (Feb 27) that Saudi Arabia's state oil company will invest US$7 billion in an oil refinery to be set up by Malaysian oil company Petroliam Nasional (Petronas).Mr Najib said the decision

by Ganesh Sahathevan  (Source:http://www.tradingeconomics.com/malaysia/net-errors-and-omissions-adjusted-bop-us-dollar-wb-data.html) The value for Net errors and Omissions in the Balance Of Payments (BoP, current US$) in Malaysia  has  fluctuated between $3,552,316,000 in 1993 and ($19,990,770,000) in 2010. The "Errors and Omissions" figure is considered a proxy for "unofficial" or rather unaccountable flows of foreign exchange out of the country.  2010 was of course the year when much of the 1MDB theft took place, and it does appear as if that massive unaccounted flow of US Dollars has shown up in the Balance of Payments. As previously reported on this blog,Sarawak Report has obtained and published photos which show that  PM  Najib and wife Rosmah may have conducted 1MDB business with PetroSaudi on their own, without 1MDB management, or board present .  Given the extent of the sudden increase in leakages it is not improbable that the business conducted included off

by Ganesh Sahathevan  (Source:http://www.tradingeconomics.com/malaysia/net-errors-and-omissions-adjusted-bop-us-dollar-wb-data.html) The  value for Net errors and Omissions in the Balance Of Payments (BoP, current US$) in Malaysia  has fluctuated between $3,552,316,000 in 1993 and ($19,990,770,000) in 2010. The "Errors and Omissions" figure is considered a proxy for "unofficial" or rather unaccountable flows of foreign exchange out of the country.  2010 was of course the year when much of the 1MDB theft took place, and it does appear as if that massive unaccounted flow of US Dollars has shown up in the Balance of Payments. As previously reported on this blog,Sarawak Report has obtained and published photos which show that PM  Najib and wife Rosmah may have conducted 1MDB business with PetroSaudi on their own, without 1MDB management, or board present .  Given the extent of the sudden increase in leakages it is not improbable that the business conducted included off-

by Ganesh Sahathevan  The photo above obtained by Sarawak Report shows PM Najib, wife Rosmah and Petrosaudi's Prince Turki Abdullah and Tarek Obeid in discussion, on board a yacht somewhere off the coast of the south of France. Clearly visible in the photo are three sets of documents,which appear to be some form of prospectus (using that term in its broadest sense). Interestingly, Rosmah Mansor has her own copy. Obviously, this was no friendly holiday chat over drinks while taking in the sea breeze; detailed business matters were being discussed. In its own words, PetroSaudi's business dealings in Malaysia have been with 1MDB ,and hence it is hard to see that the above discussion did not concern 1MDB.  The implications for Najib are obvious. To begin with the photo belies the(in any case idiotic) claim made by his  lawyer that his    "signature on 1MDB documents (is)a formality, doesn’t mean he decides or knows all."  Consequently this photo adds to the existing evide

by Ganesh Sahathevan It has been previously reported on this blog that Malaysia's PM Najib probably sought special permission to fly over Jerusalem en-route Turkey . The records below, derived from 9M-NAA's  squawk code  ,shows that on at least three occasions  in 2016, Najib and his 9M-NAA flew over Jerusalem enroute Malta,Germany and Turkey ,despite  Malaysia not having diplomatic relations with Israel, and despite an avowed opposition to anything Jewish. Najib could have easily flown over any part of the Middle East, but it seems that self preservation might have prevailed in these instances. (local) Date (local) Time GMT Callsign Type Serial Location Squawk Altitude 2016-09-24 21:41:10.000 2016-09-24 19:50:12 NR1 A-319 9M-NAA Valletta, MT 2021 37975 2016-09-24 19:27:52.000 2016-09-24 16:34:11 NR1 A-319 9M-NAA Jerusalem, IL 515 38025 2016-05-13 17:26:16.266 2016-05-13 15:26:16 NR1 A-319 9M-NAA EDDM-1, DE --- --- 2016-05-13 16:26:09.000 2016-05-13 13:26:09 NR1 A-319 9M-NAA Je