Media Statement by Tong Kooi Ong

6 February 2015

I believe Low Taek Jho or Jho Low is the person responsible for the malicious lies and fabrications against The Edge Media Group and I through several blogs using the WordPress blogging platform.

This morning, my lawyers served on Jho Low a demand that he cease and desist fabricating the malicious lies against The Edge, The Malaysian Insider and I in the following blogs: malaysianexpose.wordpress.com and kronismemahathir.wordpress.com.

The same person is also behind the attack on Tun Dr Mahathir Mohamad and Datuk Seri Nazir Razak using the same blogger who goes by the author name ahrily90 (subsequently changed to pen jingga, julijulipeh, saberarturia18 and/or rahmanirwan74). 

This is done through the blogs kamibukanbodohtau.wordpress.com, corruptednazirrazak.wordpress.com, kronismemahathir.wordpress.com, politikukus.wordpress.com, and malaysianexpose.wordpress.com.

Besides the above blogs used to attack us, ahrily90 is also responsible for these blogs - bisnes2malaysia.wordpress.com, worldofcorporate.wordpress.com, and todayinbusiness.wordpress.com.  These blogs exclusively promote Jho Low, 1Malaysia Development Bhd (1MDB) and their businesses.

Knowing we are on his trail, some of the sites were recently shut down.

However, we have downloaded their entire contents as we were able to save them before they were taken down.

I would like to explain the background and the reasons for these attacks.

1.               ahrily90 has posted various articles that attacked  Tun Dr Mahathir, Nazir Razak, The Edge and I in his many blogs.  We are all known critics of 1MDB.

2.             The first attack in kronismemahathir.wordpress.com was on 26 January 2015 under the title "Mahathir uses The Edge and the Malaysian Insider to take down his own people" by ahrily90. This was followed by the article titled "Rogue betting against ringgit" published on 28 January 2015 in both kronismemahathir.wordpress.com and malaysianexpose.wordpress.com by ahrily90. This second article has since been removed from kronismemahathir.wordpress.com but remains in malaysianexpose.wordpress.com with the author's name changed.

On 22 January 2015, just four days before the first attack on The Edge and I, a journalist from The Edge had sent a number of questions to 1MDB on a US$975 million loan provided to it by Deutsche Bank on 1 September 2014.  The journalist had asked 1MDB whether the money was used to principally pay Abu Dhabi’s Aabar Investments PJS to terminate an option to take up a substantial stake in the future IPO of 1MDB’s power assets. 

The journalist had asked what was the basis for the options to be valued at such a high price, and had requested that 1MDB reveal the terms of the agreement it signed with Aabar in May 2014 on the termination of the options.

(1MDB had given the options to Aabar in return for co-guaranteeing two US dollar bond issues arranged by Goldman Sachs totaling US$3.5 billion in 2012 for the acquisition of power plants)

1MDB responded by saying that it had nothing to add other than what was stated in the Company’s 2014 annual report.

The Edge has published substantially on 1MDB because of concerns, held not only by us, but also by many others in the corporate and banking world and the civil service as well.

The Edge Media Group, which includes The Edge and The Malaysian Insider, believes in economic and social inclusion. We want to promote transparency and good governance.  We love our country and as a media, we have a public duty to report on any issues that are of national importance.

I am a Malaysian and no, I do not have dual citizenship as alleged.

In highlighting the challenges the country faces, we are not sabotaging the nation.  Instead, we believe it will help direct people towards finding solutions for the betterment of the country.

We highlighted concerns about 1MDB because we are fearful of the fallout for the country should it fail.  As it is, 1MDB is already facing financial difficulties. It has failed to pay – missing three deadlines – a RM2 billion loan to a consortium of Malaysian banks.

All the spinning by 1MDB cannot hide this fact.

The only reason The Edge has highlighted the problems at 1MDB is to try to get these issues addressed, so that they can be contained and resolved.

Thank you.

TONG KOOI ONG

Media Statement by Tong Kooi Ong                                                
2 February 2015

The log of the mobile chat is fake

Yesterday, 1 February 2015, the blog, malaysianexpose.wordpress.com posted yet more lies and fabrications against me.

This is the same blog that had on 28 January 2015 accused me of shorting the Ringgit to break Bank Negara Malaysia and crash the Ringgit.

This time, it faked a phone chat log and used it to accuse me of manipulating former Prime Minister Tun Dr Mahathir Mohamad to drive down the Ringgit. The blog also accused me of using The Edge Media Group to irresponsibly paint Malaysia in a negative light for my personal benefit.

I have already vehemently and absolutely denied that I have ever shorted the Ringgit (my Press Statement of 1 February 2015). I do not think it is even possible. I have also never shorted equities. How can I possibly gain by painting Malaysia in a negative light?

News media communicates with society by presenting facts, analysis and commentaries on important matters happening around them. Sometimes, they are positive and critical, and other times, they are not.  We believe readers want all the facts and views, and they are smart and savvy enough to make up their own mind using the information given to them. We doubt that they can be manipulated.

Over the past 20 years, The Edge has contributed positively to the country by promoting social and economic inclusion. It has the highest level of editorial credibility and it is successful because of this.  Our views and reporting are done in the open. We do not hide behind blogs who do not reveal themselves.

As for the fake phone chat log, I invite the relevant authorities to investigate. I suspect such records can be obtained from the telecommunication company for verification. It is also clear that the last 2 digits of the phone number are missing from the screen grab posted. Why blank it out if it is genuine? 

Finally, anyone who knows me will confirm that many of the words used, such as “Friendlies” and “Jugular” are not part of my vocabulary.

The person behind all these baseless attacks is clearly acting out of desperation.

After attacking Tun Mahathir in his other blogs (politikukus.wordpress.com and kronismemahathir.wordpress.com), he now fabricates a story that Tun Mahathir could be manipulated by me.  Tun Mahathir deserves a lot more credit and respect than that.

Calling Tun Mahathir senile and listing 10 reasons why Tun Mahathir should be jailed (kronismemahathir.wordpress.com, 1 October 2014 and 25 August 2014) is disrespectful and vicious.   It shows how fearful this person, and whoever that is behind him, is of the criticisms and issues our former PM has raised in recent times, and the reporting of The Edge Media Group.

Thank you.

TONG KOOI ONG

Media Statement

by Tong Kooi Ong

1 February 2015

I refer to the malicious lies and fabrications against me in the blogs malaysianexpose.wordpress.com (29 January 2015) and kronismemahathir.wordpress.com (28 January 2015).

I vehemently and absolutely deny the accusations. I did not at any time short the Malaysian Ringgit.

I am an equity analyst, besides being an established entrepreneur. I am a value investor.

I have never shorted currencies or equities. I acquire and build companies, create value for shareholders and create employment through ideas and innovation. My track record speaks for itself.

I am certain Bank Negara Malaysia will be aware if there is such a heinous crime. Bank Negara has not contacted me and I pledge to cooperate fully with Bank Negara if my assistance is needed at any time.

As a Malaysian, I too am against economic saboteurs. I support the Prime Minister’s call that those who sabotage the country’s economy must be brought to justice.

Personally, I do not believe it is even remotely possible to break Bank Negara or crash the Ringgit. The foreign exchange reserves of the country are in excess of USD110 billion. The current account of the country is in surplus. Non-Ringgit borrowings are very low. I have gone on record with the above statement, both in my speeches and in the articles I wrote. Again, this is a matter of record.

The facts are that almost every currency in the world is currently falling against the USD (United States Dollars). This is due in part to the strengthening of the US economy and the expectations of an interest rate hike, following the end of the US quantitative easing since October 2014. Further, many countries in the region as well as Europe are depreciating their currencies and lowering their interest rates to promote growth.

I am currently unable to ascertain the individual(s) who is (are) responsible for the malicious lies against me, and what their intentions are. I will pursue legal course of action once I am able to identify those responsible. Making up such lies is beneath human decency.

Thank you.

TONG KOOI ONG