Photo has tongues wagging over Sarawak Report expose


SR in February alleged that businessman Low Taek Jho, or Jho Low, engineered PetroSaudi's US$2.5bil joint venture with 1MDB in 2009 in order to siphon off US$700mil from the deal.

It also said the US$1.5 billion in assets PetroSaudi had injected into the joint venture did not actually belong to the firm.

The joint venture deal ended six months later, with 1MDB's investment of US$1 billion converted into Mubaraha notes, which 1MDB president and group executive director Arul Kanda Kandasamy has said was paid back in full.

However, NST quoted PGI saying that the documents stolen from PetroSaudi by Justo and published by the Sarawak Report was doctored.


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