Excellent, superbo, WELL DONE!
CONGRATULATIONS!
—–Original Message—–
From: Tarek Obaid <[email protected]>
To: [email protected] <[email protected]>
Sent: Wed, 30 Sep 2009 4:51
Subject: FW: joint press release
—— Forwarded Message
From: Robert Ho <[email protected]>
Date: Tue, 29 Sep 2009 23:00:15 +0200
To: Patrick Mahony <[email protected]>, Taek Jho Low <[email protected]>, Shahrol Halmi <[email protected]>
Cc: Casey Tang <[email protected]>, Tarek Obaid <[email protected]>
Subject: RE: joint press release
Hi Patrick,
Here’s the final draft, including use of the words “private company” in the PSI profile.
Thanks.
Best Regards,
Robert Ho
_____
From: Patrick Mahony [[email protected]]
Sent: 30 September 2009 03:39
To: Taek Jho Low; Shahrol Halmi
Cc: Casey Tang; Robert Ho; Tarek Obaid
Subject: Re: joint press release
Gentlemen – one very important thing, we need to make clear psi is a private company (despite its royal affiliation). This is of the utmost importance. Can you please say the following:
“PSI, based in Al-Khobar, Saudi Arabia, is a private company mandated to carry out investments which can strengthen the relationships between the Kingdom of Saudi Arabia and key countries worldwide”
Please confirm that this change has been made before press release goes out.
Many thanks.
Patrick
_____
From: “[email protected]” <[email protected]>
Date: Tue, 29 Sep 2009 18:31:10 +0200
To: Shahrol Halmi<[email protected]>; Patrick Mahony<[email protected]>
Cc: Casey Tang<[email protected]>; Robert Ho<[email protected]>
Subject: Re: joint press release
Tarek sheikh?
Sent via BlackBerry from T-Mobile
_____
From: Shahrol Halmi
Date: Tue, 29 Sep 2009 12:27:50 -0400
To: Patrick Mahony<[email protected]>
Subject: RE: joint press release
OK – h ow about this. Can you help verify Tarek’s preferred form of address?
PRESS RELEASE
Joint Press Statement by PetroSaudi International and 1Malaysia Development Berhad
PetroSaudi International Limited and 1Malaysia Development Berhad in US$2.5 billion joint venture Partnership, opens new door to FDIs
KUALA LUMPUR, 30 September 2009: Malaysia and Saudi Arabia today entered a new era of economic cooperation with the setting up of a US$2.5 billion joint venture company, which will spearhead flow of foreign direct investments from the Middle East as well as well as make strategic investments in high-impacts projects here.
The joint venture company (“JVC”) is the result of a partnership between Malaysia Development Berhad (“1MDB”) and PetroSaudi International Limited (“PSI”)
This venture is the first undertaken by PSI in this region and underscores the confidence Saudi Arabia has in Malaysia and economic prospects here.
The 1MDB is wholly owned by the Government of Malaysia and was established recently to drive strategic initiatives for long-term sustainable economic development and promote in flow of FDI into the country. PSI, based in Al-Khobar, Saudi Arabia, is mandated to carry out investments which can strengthen the relationships between the Kingdom of Saudi Arabia and key countries worldwide.
The JVC’s objective is to seek, explore, and participate in business and economic opportunities which results in the enhancement of and promotion of the future prosperity and long-term sustainable economic development of Malaysia. It is also expected to actively make investments in the renewable energy sector.
The JVC is also expected to be a vehicle for investments from the Middle East into the region, thereby giving Malaysia the edge in drawing investments from the cash and resource-rich region.
PSI’s CEO Sheikh Tarek Obaid said: “Malaysia has long been a model of stability and development fordeveloping countries. We believe that recent economic liberalisation
policies announced by the Prime Minister will only make Malaysia a more attractive place for investors. We envisage Malaysia becoming an important partner for the Kingdom of Saudi Arabia.”
Also lauding the setting up of the JVC was 1MDB’s CEO Shahrol Halmi.
He said: “The JV C is set to further increase foreign direct investment from the Middle East, in particular Saudi Arabia. We will leverage on PSI’s strong international presence, their networks and expertise to
promote Malaysia as the preferred investment destination.”
The JVC will initiate various projects in multiple sectors which are mutually beneficial as well as in line with 1MDB’s mission to drive long-term sustainable economic development in Malaysia.
From: Patrick Mahony [mailto:[email protected]]
Sent: Wednesday, 30 September, 2009 0:01
To: Shahrol Halmi
Cc: Casey Tang; Robert Ho
Subject: RE: joint press release
Thanks. The other thing which would be great is if we could just call it a multi-billion JV without getting into numbers. Being specific causes all sorts of problems back home. These guys prefer secrecy… Let me know. Many thanks
From: Shahrol Halmi [mailto:[email protected]]
Sent: Tuesday, 29 September, 2009 5:58 PM
To: Patrick Mahony
Cc: Casey Tang; Robert Ho
Subject: RE: joint press release
Hi Patrick – understand – we will get to work on our side on quotes from me and Tarek, in case we can’t get approval for HRH [Prince Turki].
From: Patrick Mahony [mailto:[email protected]]
Sent: Tuesday, 29 September, 2009 22:46
To: Shahrol @ Hotmail
Cc: Casey Tang; Robert Ho
Subject: RE: joint press release
Shahrol – please give me a little time to get back to you. I have no authority to allow a press release where HRH is quoted. I don’t t hink he will want to. Can we please have this be a quote from Tarek instead of him? You can refer to Sheikh Obaid etc. I would much prefer this and it will be easier to get by on my side. Please check on your side but if we make this Tarek, then we should be mostly ok. Thanks
From: Shahrol @ Hotmail [mailto:[email protected]]
Sent: Tuesday, 29 September, 2009 4:36 PM
To: Patrick Mahony
Cc: Casey Tang; Robert Ho
Subject: joint press release
Importance: High
Hi Patrick, can you help take a look and see if this is ok? The PM insisted on the quote from HRH Prince Turki and the equity figures. This statement is going to be released only to the local media, but there is no guarantee that the wire services won’t pick it up. Planning to send this out late morning tomorrow, Malaysia time.
PRESS RELEASE
Joint Press Statement by PetroSaudi Internatio nal and 1Malaysia Development Berhad
PetroSaudi International Limited and 1Malaysia Development Berhad in US$2.5 billion joint venture Partnership, opens new door to FDIs
KUALA LUMPUR, 30 September 2009: Malaysia and Saudi Arabia today entered a new era of economic cooperation with the setting up of a US$2.5 billion joint venture company, which will spearhead flow of foreign direct investments from the Middle East as well as well as make strategic investments in high-impacts projects here.
The partnership between Malaysia Development Berhad (“1MDB”) and PetroSaudi International Limited (“PSI”) involves the creation of a joint venture company (“JVC”) with an initial capital of US$2.5 billion in which 1MDB and PSI will be contributing US$1.0 billion and US$1.5 billion in equity respectively.
This venture is the first undertaken by PSI in this region and underscores the confidence Saudi Arabia has in Malaysia and economic prospects here.
The 1MDB is wholly owned by the Government of Malaysia and was established recently to drive strategic initiatives for long-term sustainable economic development=2 0and promote in flow of FDI into the country. PSI, based in Al-Khobar, Saudi Arabia, is mandated to carry out investments which can strengthen the relationships between the Kingdom of Saudi Arabia and key countries worldwide.
The JVC’s objective is to seek, explore, and participate in business and economic opportunities which results in the enhancement of and promotion of the future prosperity and long-term sustainable economic development of Malaysia. It is also expected to actively make investments in the renewable energy sector.
The JVC is also expected to be a vehicle for investments from the Middle East into the region, thereby giving Malaysia the edge in drawing investments from the cash and resource-rich region.
PSI’s Chairman HRH Prince Turki Bin Abdullah Bin Abdulaziz Al-Saud said: “Malaysia has long been a model of stability and development for developing countries. We believe that recent economic liberalisation
policies announced by the Prime Minister will only make Malaysia a more attractive place for investors. We envisage Malaysia becoming an important partner for the Kingdom of Saudi Arabia.”
Also lauding the setting up of the JVC was 1MDB8 0s Chairman Dato’ Mohd Bakke Salleh.
He said: “The JVC is set to further increase foreign direct investment from the Middle East, in particular Saudi Arabia. We will leverage on PSI’s strong international presence, their networks and expertise to
promote Malaysia as the preferred investment destination.”
The JVC will initiate various projects in multiple sectors which are mutually beneficial as well as in line with 1MDB’s mission to drive long-term sustainable economic development in Malaysia.
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