KUALA LUMPUR, April 26 — Whistleblower site Sarawak Report continues its unrelenting campaign against businessman Jho Low with its latest allegation that a US$330 million (RM1.18 billion) loan 1Malaysia Development Berhad (1MDB) issued to PetroSaudi International in 2011 was actually deposited into the account of Low’s Good Star Limited.

Citing documents from official investigators, Sarawak Report alleged that the amount was transferred in four separate tranches into Good Star Limited’s RBS Coutts, Zurich account.

“There was no mention made of the company Good Star in the 1MDB application and neither was approval granted for the money to be sent to Good Star.

“Nevertheless, all four of the payments totalling US$330 million from two separate banks in Malaysia went straight to Good Star Limited, according to the documents we hold,” Sarawak Report said in a posting on its website late yesterday evening,

It also claimed approval had only been granted by the regulators for 1MDB to lend the money to its former joint venture partner PetroSaudi on the basis that it was to “finance on-going overseas investment in the oil and gas sector.”

The rationale for the loan approval was “to pursue a strategic and global partnership in the energy sector and promoting foreign direct investment into Malaysia,” according to documents purportedly sighted by Sarawak Report.

So far, these allegations by Sarawak Report against Low have been unanswered even though he has repeatedly denied any association with 1MDB.

However, Low Taek Jho — Low’s full name — continues to be linked to the state-owned firm due to his role in the Terengganu Investment Authority.

1MDB was incorporated in 2009 after Prime Minister Datuk Seri Najib Razak announced the decision to turn the TIA state fund into a federal agency.

The debt-laden state investment firm 1MDB is currently the subject of an investigation by the Auditor General’s Department and in line for further scrutiny by Parliament’s Public Accounts Committee.

Inspector-General of Police Tan Sri Khalid Abu Bakar also announced that a high-powered team comprising officials from the Attorney-General’s Chambers and the police will investigate all complaints against debt-laden 1MDB.

1MDB is reported as having about RM42 billion in debts ― some of which are guaranteed by the government, but Putrajaya has repeatedly said that the firm’s assets exceed its debts.

Earlier this month, Najib dismissed claims that 1MDB was facing bankruptcy, saying in a parliamentary reply that 1MDB had already repaid a RM2 billion loan to Maybank and RHB

The inability of 1MDB to meet its loan payments previously had fuelled speculation that the firm was struggling with cash flow issues and unable to service its debt.