Malay issues / Najib Razak / Socio-economy / Umno & Barisan Nasional

Congrats for selling our prized jewels just to pay off 1MDB debts!

bhjcksv

Phew! Luckily we could sell the people’s assets just to pay off the debts we stupidly acquired! Don’t ask us where the money from those debts have gone. Hopefully you will forget about it by next year.

The highly paid puppet overseeing the sale of Malaysia’s assets patted himself on the back for successfully getting billions of money to pay off the billions of debts raked by 1MDB for the past 6 years.

Basically, the prime minister had just sold off another priceless asset belonging to the people of Malaysia, just to cover up the financial mismanagement and scandalous activities of 1MDB.

One twitter user – @KhalidKarim wrapped up the whole situation in one sarcastic tweet:

bullseye

 

In 2010, we wrote an article criticising the prime minister on his so called New Economic Policy. Then, he had specifically said that he will sell off government lands to the private sectors in order to develop the area:

The government will sell its land which has one of the highest value to the private sectors. These parcels of land are near the Jalan Ampang, Jalan Lidcol and Jalan Stonor. We find it hard to imagine why would the government sell these to people outside the government. Theorectically, the government is decreasing its potential wealth if they don’t outsource it out (if they believe they have no capacity to develop it). They should have just let governmental agencies to develop it. When you lose something monumental like this, it will be difficult to earn it back. UDA , PNB or Pelaburan Hartanah Berhad (PHB) for instance, can be tasked to develop the land without the government losing it forever.

Another con job in the making?

Fast forward to 2015, he went up a notch by selling our precious lands to foreigners from China. Just a month ago, he sold the IPPs which once belonged to Malaysians, to the Chinese as well.

All because 1MDB could not pay its debts. How could this have happened?

The highly paid propaganda teams will accuse 1MDB critics as the cause of their failure in delivering what was promised when 1MDB was first established.

We all know, the reason why 1MDB embroiled in financial distress was because it could not launch the IPO for Edra Energy. And why they could not launch the IPO? Because they frequently missed the deadlines in submitting their audited financial statements. The inability of a multi-billion company to submit their annual audited accounts on time is a huge red flag in the financial world.

Out of 6 years in operations, 1MDB could only submit them only once!

And why were they serially late? It was mostly about the 1MDB – Petrosaudi joint venture which had cost Malaysians some RM5 billion of taxpayers’ money lost in dodgy transactions.

It has nothing to do with criticisms from the Opposition or even from Tun Dr. Mahathir. They could not list their power assets since 2013 while Tun Dr Mahathir only started asking questions about 1MDB towards the end of 2014.

Remember, 1MDB was established to ‘participate in business and economic opportunities which result in the enhancement and promotion of the future prosperity and long-term sustainable economic development of Malaysia’.

That was the lie promise made by the Prime Minister himself. Since it is now a tradition for him to say one thing but do something different altogether, the rakyat must bear and accept the absurdity given by the powers that be – that the sale of these assets just top pay off their loans is the target and the objective of Malaysia.

In the twisted world of overnight billionaires and high school debaters, giving away the country’s assets to avoid 1MDB going bankrupt is a success.

Blogger Syed Akbar Ali also summarised the bleak situation well:

In conclusion what type of a stupid ‘sovereign investment fund’ or ‘sovereign wealth management fund’ is this?
What has been achieved by 1MDB as a ‘sovereign investment fund’ since 2009? 
How many new jobs have they created with over RM45 Billion capital employed?
So has 1MDB created 10,000 new jobs?  It is a ‘strategic investment fund’.  
Has 1MDB created 1000 jobs? No? 
How about 100 jobs?  Has 1MDB created at least 100 new jobs with that RM45 billion capital employed?
So what has this sovereign wealth fund or sovereign investment fund achieved after all this roundabout, merry go round, bullshitting for the past six years? 
 
You do not need a university degree to do this type of pondan business. You dont need any business acumen at all.
 
Get gomen land cheap at 10 sen.  
Then get a gomen guarantee to borrow RM1.20. Then the RM1.20 goes missing.  
 
Then revalue the gomen land at say RM1.20 and sell it for a quick profit of  RM1.10. Use the RM1.20 proceeds to settle the borrowing.
 
Hooray. But what happened to that RM1.20 that you borrowed? Where did it go? 

The magnitude of this nation’s leadership crisis is shocking. We have a prime minister who does not know what to do and worse, he thinks whatever he has done is morally right; even in getting RM2.6 billion and RM42 million in his personal bank accounts.

No wonder it made into the world’s worst corruption scandal of 2015. The prime minister was so scared in facing his critics he could not bring himself to attend a couple of events which could serve as the platform to answer the questions face to face with his fiercest critics. What an embarrassment to Malaysians when we have such leader.

This government is continuously doing things which are morally and legally wrong yet, since they are frightened to land themselves in jail for the things they have committed, they chose to bulldoze and shamelessly strut along, like the story of an emperor walking naked in front of his people.

One of our frequent commentator (Zalman), wrote this recently:

LEGAL INNOVATIONS FOR 2015 (Jul-Dec 2015 only):

A) PRINCIPLE OF SECRET SURAT “KOW THIM”: If any mamak lawyer writes privately to the A-G in order to get him to drop charges before or during trial, the ploy will succeed IF THIS EQUATION IS FULFILLED: where “N” (number of times said mamak has represented Umno) x “E” (degree of Evil of said mamak, from 1-10) = 1,000 or greater. This applies even where the High Court and Court of Appeal have rejected applications to strike out the suit. The end result is that cows get to live happily in luxury condos. Moo. One secret letter is all it takes.

B) PRINCIPLE OF REWARDING DISHONESTY: Any gomen company is allowed to lie to Bank Negara Malaysia. So let’s say 1MBD (1 Mega-Botak Dei) says he needs 1.83 billion ringgit to invest in a Franch company, but actually transfers it to a Bugis-Arab-Cina pyramid scheme, it is BNM’s problem to detect the fraud, even if the evidence of the fraud surfaces only later. “Hang tak tanya pun?” Hence, BNM should treat all MOF documents as lies right from the beginning. if BNM finds out too late, the Bugis-Arab-Cina pyramid scheme can give the middle finger to BNM and say “spend already lah, Auntie.”

C) PRINCIPLE OF SELECTIVE PEKAK-NESS: The common law rules of witness evidence were formed several hundred years before video recording was invented. However, only video recordings are now admissible. But such video recordings may be deemed “incomplete”, so charges must be dropped, even though the complete video is all over YouTube and Facebook. If you subsequently hand in the complete video, you will hear the Simon & Garfunkel song “The Sound of Silence” from the AGC.

D) PRINCIPLE OF ANY LAW WILL DO: Despite the clear wording of s.124 Penal Code, it can be stretched like rubber to charge people for, well, anything that might embarrass the gomen. The lodging of reports that are ACCEPTED & ACTED UPON by legal authorities is a “terrorist offence”, just like blowing up bridges. Ahhhhh, may as well tambah SOS Cap MAH as well. If we’re gonna abuse the law, let’s go all the way.

E) PRINCIPLE OF ONE COUNTRY, TWO LAWS: Feel free to cause any amount of racial and religious provocation you want, e.g. forcing people to remove their religious symbols. You won’t be charged if you’re on “our side”. But we reserve the right to charge anyone on “their side” under the Sedition Act for serious offences like questioning why someone was arrested under the Sedition Act. Questioning why someone was arrested under the Sedition Act for questioning why someone was arrested under the Sedition Act is also seditious, thus causing a “chain reaction” that will lead to overflowing jails. Funny thing is, here video evidence is not required.

Happy New Year Mr Prime Minister, hope you are getting pats on the back from your sycophants and loyalists for the marvellous year you had carved for yourself.

You might also want to read:

1) 1 MDB shortfall fails deadline : RM 12.35 B + RM 7.4 B is not equal USD 5 B ,and counting ……

2) 1 MDB shortfall- Nothing left for IPIC ?

3) Malays the big losers in 1MDB restructuring

4) WSJ v 1MDB: Who wins is not the issue

5) For Us or Against Us

6) Reasons why 1MDB’s Edra Energy IPO failed to be listed..

7) Kegagalan Najib Razak

10 thoughts on “Congrats for selling our prized jewels just to pay off 1MDB debts!

  1. 1MDB is like Lionel Messi expecting people to cheer just because he managed to tie his bootlaces properly.

    (And the people behind 1MDB are paid more in total than Lionel Messi.)

    The issue is criminal wrongdoing, and obstruction of justice.

    If 1MDB was merely a moronic but honest failure, the PM’s and Board’s resignation could still be graceful.

    Too late now.

    Like

  2. They are cheering. For settling debt. Debt that acquired foolishly. And now money gone, land gone.

    Good job man.

    ‘Once upon a time there is a boogies coming to our land. He told us great stories and He carried tons of shite. He asked us to hear his stories while having fun and clapping hands.

    Once the fun is over, he got the land and we got shite on our hands’

    Like

  3. I am truly curious over this “chinese” involvement in 1MDB.

    Jho Low, Singapore and the Chinese business entities …! Their active participation seems to be consciously MUTED.

    Even though the frontline faces are various Malays and Indians, the movers seem to be the Chinese.

    Perhaps the chinese tsunami was an indicator that this group had inside information of Najib’s hand in the cookie jar.

    Like

  4. Pingback: Dear Annie… | 書 政 shuzheng

  5. Assets sold and that is it your debt reduced! In any sane company, selling assets mean reducing your future income garnered through the assets, thus reducing your profits in the future. What a thoughtful decision.

    Unlucky for us, we have peanut-size brain as our PM who think he’s smart enough to steer this trouble ship of 1mdb to safety. Unlucky again for us, this PM paid million to another peanut-size brain of 1mdb ceo whose only job is to perform one magic, twisted tongue skill.

    Maybe they’ve overstayed their welcome. Maybe again we need PAS to be ready to be the next government. My wish stop there as I do not wish PKR, PAN or worst DAP to be in the government, next.

    I wish I could have all the answer. I seek from all Mighty Allah aw a shelter from this trying times.

    Like

  6. According to TPM Zahid logic most concessions given by Dr M was lop-sided,that is why Ah Jib Gor bought the IPPs and placed it under 1MDB portfolio. To rectify Dr M mistakes Ah Jib Gor got Arul Kanda to sell it to the foreign Chinese. Bijak PM kita!

    Alfie

    Like

    • Hei belang,

      No one except the DAP and PAN can save the Malays. Unfortunately, the Malays will continue to vote UMNO and PAS who are your Ketauanan Melayu-Islam heroes. UMNO lost Selangor which is the most developed state while PAS controls the least developed state in all of Malaysia. Meanwhile, Malays like you still hate the opposition to the core. I hope UMNO and PAS get into a formal alliance soon. Then, the Malays will really be on the way to hell courtesy of your Ketuanan masters. Wonder why PKR cannot save the Malays. PKR is in reality just another version UMNO.

      Like

  7. Pingback: Congrats for selling our prized jewels just to pay off 1MDB debts! | ajai62

Astound us with your intelligence!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s