1MBD interests prevail wherever Ismee Ismail goes
(FMT) – “Takaful Malaysia should reveal the full details of the RM85 million bond purchase including the price paid for every ringgit of bond purchased and whether the purchase was made directly or through the secondary market.”
An MP has pointed out that there appears to be inconsistencies and questions arising from government-linked Islamic insurance company, Syarikat Takaful Malaysia Berhad (Takaful Malaysia), buying RM85 million worth of Islamic bonds from 1MDB. “This deal merits attention.”
“Takaful Malaysia should reveal the full details of the RM85 million bond purchase including the price paid for every ringgit of bond purchased and whether the purchase was made directly or through the secondary market.”
Takaful Malaysia chairman Ismee Ismail, urged Bukit Bendera MP Zairil Khir Johari, should also come clean immediately on his role on the RM85 million 1MDB sukuk purchase, as well as the RM188.5 million Tabung Haji-1MDB land deal.
He was commenting on Takaful Malaysia’s group managing director Mohamed Hassan Kamil disclosing that the bond was purchased in 2009 at a coupon rate of 5.75 per cent and a maturity period of 30 years.
There appears to be too many coincidences, argued Zairil who is also DAP Assistant National Publicity Secretary. “It certainly seems that wherever Ismee Ismail goes, 1MDB’s interests would prevail.”
He noted that Ismee was appointed to the board of 1MDB as a founding director along with Shahrol Azral Ibrahim Halmi, then CEO of 1MDB.
Firstly, he said, it was strange to claim that the bond was purchased from the Terengganu Investment Authority (TIA) when, at the time of the bond’s issuance in May 2009, 1MDB had already been incorporated following the name change from TIA to 1MDB in January 2009.
Secondly, he added, and even more pertinently, there appears to be another coincidental linkage between the management of Takaful Malaysia and 1MDB, particularly involving Ismee Ismail. “1MDB issued Islamic medium-term notes or sukuk bonds worth RM5 billion, of which RM85 million was snapped up by Takaful Malaysia.”
