Najib Razak / Socio-economy

What is wrong with you Arul Kanda?

From The Edge last Monday:

There is one crucial item on the term sheet, which is that 1MDB has to transfer the amount that IPIC paid, the cash plus the interests — US$1.15 billion — by Dec 31, 2015, according to Arul. As such, he said:

“actually, we were in default since December”.

But he questioned why IPIC waited until now to make the announcement.

“It should have been made immediately after the default as it’s a large amount. Why wait until April to say you don’t own Aabar BVI?”

As to the US$3.5 billion worth of payments that 1MDB made to Aabar BVI (Aabar Investments PJS Ltd), the company with the near identical name to IPIC’s subsidiary Aabar Investments PJS, Arul said:

“What we cannot discount is there could actually be fraud…a massive fraud…and maybe there was collaboration from our side”.

Dear Arul Kanda,

Stop being an idiot. What you should have done since you took over is to ask Shahrol Halmi what had really happened. He was the CEO/Director when payments were made to the fake Aabar. The news that 1MDB paid the fake Aabar had been going on for months now.

What kind of a boss are you when you don’t even read the news about your own company? As for Shahrol, this criminal who now happens to be a Director of 1MDB and a Director in Pemandu should have told you what he had done – that the money which had gone to the fake Aabar was authorised by him.

Plus, the fake Aabar is owned by the former bosses of IPIC, a certain Al Husseiny, who is also a very close friend to Jho Low and Najib Razak, whom incidentally, the ultimate boss of 1MDB.

Please do not scam Malaysians by acting all surprised. You are in this too. You know about this fraud in all the time you are in 1MDB.

But the biggest idiotic thing you have said is when you questioned IPIC why they did not announce immediately that 1MDB was defaulting back in 31st December 2015.

Arul Kanda, let us now speak to you as if you are a dumb 10 year old boy – when you begged IPIC to pay a loan on your behalf, and then promised them to pay it back by 31st December 2015, you should have paid the USD1.15 billion by the due date.

People who did not pay their debts simply do not chastise their creditor why they did not tell the whole world you are defaulting much earlier. Don’t you have any common sense?

Sudah la tak malu ambil duit orang kemudian tak mahu bayar balik. Lepas tu nak rasa hairan kenapa you punya Ah Long tak mahu belasah you immediately.

You must either be so arrogant, or so stupid (the whole world think you are both actually).

Are you not ashamed? You, Arul Kanda will be known in history as the person that had caused Malaysia to default on its loan for the first time in history.

Under your watch, Malaysians lost its assets (IPP and lands) to foreigners. Last May 2015 you had engineered the binding term sheet with IPIC without any intention to pay them after they had lent you a billion dollars to pay off the debts 1MDB took back in September 2014.

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1MDB took a loan from Deustche Bank for USD975 million, which was supposed to be paid by September 2015 but the consortium of banks felt cheated because the collateral you used (the mythical USD1.103 billion units) for the loan was discovered to be worthless. They called up the loan to be paid much earlier. You were so desperate and had no money in May 2015, you got IPIC to give you USD1 billion to pay up Deustche.

That money from Deustche however is gone. According to the PAC report above, USD725 million of it went to the fake Aabar! (PAC report page 92)

What does Arul and Shahrol have to say about that?

13062040_10153658232076317_8576911101600867854_n

Based on the news cutting above, Arul Kanda had the cheek to feign surprise and then tried to exonerate Shahrol, Najib and Jho Low et al by pinning the blame entirely on the two former bosses of IPIC and Aabar.

And today you denied any fraud had occurred?! Why the sudden, incoherent flip flop? Kena marah by your political masters did you? Did you not mean what you say in The Edge last Monday? Were you ‘misquoted’?

Arul, if you are the knowledgeable type, you would have known that the 1MDB had scammed billions of taxpayers’ money by giving it to the wrong company! The main signatory for the fake Aabar was Mohamed Badawy Al Husseiny. It seems in his free time as the top boss of IPIC/Aabar, he was also involved in a personal venture with the 1MDB crooks.

This fake Aabar then sent billions of ringgit to Tanore Finance Corp before USD681 million finally landed in Najib’s private accounts.

Tanore Finance is owned by Eric Tan Kim Loong, a known associate of Jho Low. Note that both the fake Aabar and Tanore have been liquidated by these crooks after they had siphoned off the rakyat’s money.

Money from the fake Aabar

Money trail of the USD681 million. It is laughable for the AG to think it came from Saudi Royal own savings.

Therefore, dear Arul Kanda, you need to audit your brains and ask yourself this:

Would I be so dumb to think that only those two foreigners are scamming us without the knowledge of Shahrol, Jho Low and Najib Razak? Would I be correct to say that Najib Razak is innocent when according to the hansard in PAC minutes, Najib seemed to overrule almost all of the BOD’s decision? Am I that dumb to think that USD681 million landed in his personal bank accounts were done without his knowledge? Lastly, am I the dumbest ever CEO in corporate history to say these words last year:

The lies told by Arul Kanda, exposed by PAC report

The lies told by Arul Kanda, exposed by PAC report

In the end, it was revealed that the USD1 billion was indeed a loan given by IPIC (which you failed to repay by year end 2015).

Why did you lie to us Arul Kanda? Why did the government hire a lying scoundrel like you?

You were the one who had dealt with them, gleefully accepting USD1 billion yet you conveniently did not pay them back and now blame IPIC and Aabar for not honouring the agreement? Why do taxpayers have to deal with a CEO that has been monkeying around since his first day on the job?

We still remember the ‘I have seen the statements and I have seen the cash’ fiasco when you first took over. We would have thought with the big fat monthly salary you’ve been getting for the past 15 months would have justified your alleged brilliance and qualifications.

But alas, you are just a nincompoop, relying mostly on your credentials as a champion debater at a high school level.

You thought you could repay IPIC with your worthless units. But they didn’t like the smell of those toxic units and quickly told you that they want real money. Money you don’t have. A memo sent from 1MDB to the Finance Ministy confirmed this: 

The Malaysian fund did try to transfer the assets in the form of fund units in an offshore company it controlled, said the memo. IPIC has refused to accept anything but cash, added the memo.

They give you cash, they expect cash lah! Why would they accept units as repayment? Do you think IPIC would be as dumb as our cabinet ministers?

1MDB tried to con IPIC by getting them guaranteeing our USD3.5 billion bond, then 1MDB paid off the promised deposits and termination of options to companies not related to IPIC. This is a new kind of low for Malaysia. Malaysians are embarrassed by this episode.

We do not know what kind of lies you and Shahrol told the cabinet for the whole of 2015 and 2016, but you sure had made a treasonous action for the whole of Malaysia. Worse, the prime minister knew about it all along.

Something is rotten in Putrajaya. We need to get rid and jail the crooks.

If Arul Kanda still have the dignity, he should have returned all his salary to the treasury. At least they can use it for something more beneficial.

What is your next move to repair this damage, Arul Kanda? You should just surrender yourself.

On another note, congratulations to Datuk Muhammad Ibrahim for your appointment as the next Governor of Bank Negara. You have big shoes to fill. And you will have your hands full trying to catch all these multi-billionaire crooks.

Speaking about regulatory bosses, this fella below has been awfully quiet. Is he still sleeping on the job? The (defaulting) bond market is under the purview of the Securities Commission, yet all is quiet over there.

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You might also want to read:

1) Moody’s warns 1MDB default could weigh on Malaysia

2) British Banker’s $33 million fee linked to Malaysia’s 1MDB scandal

3) Cross default provisions on 1 MDB’s Ringgit, but not US bonds? Only Moody’s would believe that. Malaysian Government likely facing cross defaults on all if not most of its debt

4) When is a person credible?

5) Saving Malaysia: We Must Not Lose Our Moral Responsibility

6) The Simple ‘Silver Bullet’ Solution To 1MDB/ Malaysia’s Financial Woes? SACK NAJIB!

7) Bagaikan Antara Dua Darjat

8) Tweets about 1MDB fiasco

15 thoughts on “What is wrong with you Arul Kanda?

  1. We have a term to describe a fraudulent crook who tries to whitewash the gang’s malfeasance by accusing their victims of lying and defaulting:
    … a f**king smooth, a** licking conman.

    Like

  2. Very well written, Those questions directed to Arul Kanan must be answered failing with
    confirmed that he has mislead us with full intention. I just wonder here, He was from AD
    last and may have related dealing there with IPIC. Should that be true I can understand why he lied. Just like having two wives telling lies after lies to each other.

    Like

    • I got this “answer” from one blog (https://shuzheng.wordpress.com/2016/04/29/arul-kanda-replies-jebat-jmd/).
      Is this really from Arul?

      Arul Kanda Replies Jebat JMD

      April 29, 2016 by rihaku

      Dear Mr Jebat:

      What’s wrong with me? Since you asked, you tell me.

      But before that, also tell me: Is cari makan wrong? I cari lots of makan. You got a problem with that?

      I have already said, I have done more than I have signed up for. That is, I cari more than I makan. It is in the nature of the beast. Others might say, an occupational hazard: other than the boss I need to appease, there is the Cabinet, the Attorney General, the Auditor General and all those other Generals. Then there is the Press, the politicians, the MPs, and of course that fella … what’s his name? Pua something. Some Tony on a pony show which I must put up with on a daily basis. Not one day passes will he give me a break.

      But, all that I can deal with. Excepting this: cleaning up this shit in this sty called 1MDB. If you think this is an easy job, you do it. Or get Tony.

      You see, Jebat, don’t envy me my job, my method of cari, or the diet in my makan. If you think 38,200 ringgit a month is big deal you know nothing about this business. Have you any idea how much those assholes, say, those bank guys in Singapore BSI or in Goldman Sachs make in a month, excluding bonus? Take a guess. Throw a number. Any number. And for what? While I get flogged — daily — they sit in their offices, each day, nine out of ten hours, they make and take phone calls and answer emails. That’s it.

      Last year alone that Tim Leissner fella took home 520,000 not ringgit. US dollars. And you mock me for this pittance for my stupidity?

      Yes, I was bodoh to have signed up for this. But when the Prime Minister opens his mouth, you think he’s asking? And so there are choices, real choices for a free man? Get real; this is Malaysia. Nobody wants this fucked up job, and if I do it well, and if you don’t like my style, what can I do?

      It is just me, man. I’m naturally good in what I do — my second nature, if you will — talking and talking and talking. Blame my parents, if you’re looking for blame. Or blame my Indian-ness, or the snake in that Indian. Blame anything but you can never, never, never fault me for creaming off from this sty.

      Face it. In here, in this shit hole, there’s nothing left to steal. All that’s left is a shell and, daily, I can only hear echoes of my own fart. It’s getting useless in here. Even getting out has its huge problems. Do you think, knowing all that’s happened, they will just cut me loose? I will count myself lucky, dead outside a temple; unlucky if I end up in a cement drum. Don’t you get it: I’m stuck here. Even thinking out aloud has limitations. I thought I did get away with it — letting the boss know my wishes, that he might be sympathetic even to just consider, and that there was no other way to say it other than through those stupid reporters. And they thought it was something of a scoop: ‘Arul is tired, Arul wants out, Arul got more than he had bargain for‘. All that yada, yada, yada was just a way of telling the boss. Guess what came back? He didn’t like it one bit. The phone on my hand nearly disintegrated into a thousand pieces, like the day my ex threw the Blackberry into the wall. Dust to dust.

      So, you see, you don’t make my life any easier calling me stupid. On the phone, the boss was right: With all this mess and I in the center, who in his right mind will now want me? Who in this fucked-up world will put up with me? You? My reputation is finished, don’t you get it? The better I am at my job, the worse off it gets, and the greater is the disintegration of my life. I am staring at unemployment for the rest of my existence, staring down into an abyss, waking up wondering what the fuck have I got myself into. Perhaps, if it pleases you, I shall throw myself off the cliff. After that, carnations are welcomed but save your tears for Malaysia. I like yellow ones by the way.

      Yours truly,

      Arul Kanda al Samy

      Like

      • Your biggest cock-up – assuming that the moron is your boss!

        You know that your duty of care first and foremost is to the shareholders. Being a government entity, that means the shareholders is the people of Malaysia. People like JMD, me and 30 million other. You choose to ignore that and instead kow tow to the moron. For that, you earned your “stupid” title.

        Had you refused the moron and walk away, you would probably be in that Tim Leissner fella or someone like him place today. Heck PR or PH or whatever party they are might even name you as their candidate come 2018 if they know you did that. Might even become Bank Negara Governor in a few year.

        So there you go, live by the sword, die by the sword.

        p/s the other mistake you made (smaller one but I think a mistake nevertheless) is to go to Royal Military College. New Boy, bagi malu OP saja.

        Like

    • how can you say redha sajalah? we should get those who cheated the country to pay with their life in jail for the rest of their dying days. no compromise. once all of them are in jail, then we can say redha saja kerugian tu.

      Like

    • Setakat buat kenduri, bagi makan ayam masak merah, (macam di Kedah setahun lalu) lepas tu, 10 orang mati keracunan dan beratus lagi sakit perut…..kepada UMNO-Najib,…..boleh lah kata “redha”.

      Itu pun, kalau berlaku di Negara-Kapiaq sudah tentu Caterer atau Tuan Rumah yang buat kenduri akan didenda/bankrupt atau dihukum penjara kerana cuai menyebabkan kematian..

      Nak menyamar ke? ‘tebing tinggi’ original, huruf kecil semua.

      Kalau ya pun nak sokong Najib sambil menyamar, janganlah memburukan emej Islam, meredhakan kehilangan berpuloh-Billion WANG Rakyat. Kalau duit sendiri, boleh la nak redha ke apa.

      Like

  3. “Why did you lie to us Arul Kanda? Why did the government hire a lying scoundrel like you?”

    It is precise for that reason the government (read the PM and the Finance Minister) hired him.

    To lie, and to spin.

    Lying and spinning are his forte and specialities.

    A company set up to scam and to skim needed a person like him as the CEO.

    And of course, with the highly esteemed Pahlawan Bugis and courageous Panglima Perang Islam as the head honcho.

    But the end is imminent.

    Truth and justice WILL prevail.

    No amount of wriggling and squirming will help you Arul Kanda.

    Heads will roll.

    Some people will be spending a considerable amount of time behind bars.

    That is your legacy, Arul Kanda, and 1MDB’s
    too.

    Unless you decide to come clean now.

    SG

    Like

  4. How do we know that Arul “Azrul” Kanda Kandasamy (A2K2) is lying?

    It’s quite simple, really.

    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/61HK/12383389.html

    That was the binding term sheet that IPIC signed in 2015 and has now been broken by 1MDB.

    Note that the MOF has to in effect guarantee this agreement, which means that the Invisible Finance Minister should be extremely worried.

    On 17 Dec 2015, the WSJ published a story under the headline:

    “Malaysia’s 1MDB Sent $850 Million to Entity Set Up to Appear Owned by Abu Dhabi Wealth Fund”

    http://www.wsj.com/articles/malaysias-1mdb-sent-850-million-to-entity-set-up-to-appear-owned-by-abu-dhabi-wealth-fund-1450333025

    QUOTE: “The 1MDB fund sent the money to “Aabar Investments PJS Ltd.” which closely resembles the name of IPIC’s wholly owned subsidiary Aabar Investments PJS, the wire documents show.”

    OK.

    So, on 17 Dec 2015, not only were A2K2 and Najib told of the fraud, THEY WERE ACTUALLY TOLD THE NAME OF THE DOPPLEGANGER COMPANY.

    Now, this should have caused the mother of all panic attacks at 1MDB. Within the hour, A2K2 should have sent panicked emails across the world and to the MOF, including the King Of 1MDB, Najib. After all, when you are told that US$850 million of Malaysian money is missing, that is not a small matter.

    Tapi Si Arul tak gelabah pon. Rilek jer.

    1MDB merely issued a generic denial.

    https://jebatmustdie.wordpress.com/2015/12/23/the-case-of-missing-usd850-million-1mdb-tried-to-be-clever-but-failed-miserably/

    Why?

    Here is the answer:

    A2K2 was fully aware that the Kongsi Gelap/Songlap Bugis-Arab-Cina had received the missing money. (The Bugis part of the Kongsi Songlap was all too aware of where the money had gone.)

    They were playing for time.

    By then, the UAE were still uncovering the truth.

    It is now uncovered.

    And A2K2 should be very careful he does not get put on Interpol red alert in the next 6 months.

    Like

  5. Pingback: Arul Kanda Replies Jebat JMD | 書 政 shuzheng

  6. I think when arul said: we were in default since december and why ipic never mentioned anything until april means since they gave the money to a bogus company, it means they’ve in fact defaulted since december so he is wondering why ipic never mentioned anything about not receiving any money.

    Which is even more surprising since who authorised and acknowledged receipt at the fake company and who was at the end of the line on 1mdb’s end.

    People should ask arul, who was at the end of the fake company when they wired the loot and who initiated contact on 1mdb’s end.

    And i think this isnt arul’s doing. He is just a front. Who’s calling the shot? Is it abu dhabi or malaysia?

    Like

  7. Pingback: Paradise Whitewashed, Paradise Looted (Part 1) | 書 政 shuzheng

  8. Let’s see what Hadi Awang’s principles are:

    “Najib flinching in the face of the Bank Negara Malaysia’s governor’s choice and shifting the sands in Sarawak to regain a larger majority (if it happens) in the state shows his limitations.

    It is doubtful that Najib can repeat the gerrymandering in Selangor without the Party Islam Se-Malaysia (PAS) betraying the opposition, and supporting the BN government in the creation of new, BN friendly
    parliamentary seats in peninsular Malaysia.

    Speaking to Worldfuturetv.com, a former opposition ally now turned BN adviser said he was totally sure the PAS would give Najib a helping hand in Parliament to get the needed two thirds majority to vote a new
    parliamentary seat configuration.

    “This will change the game in Selangor in particular,” he said.

    He said there could be a compromise between the BN and the PAS over the controversial Hudud.

    He said 30 new seats will be added, including in Sabah and Sarawak but the BN would need 10 new seats (mostly Malay dominated) in peninsular Malaysia.

    “This means BN in tight control (like Sarawak),” he said.

    The new parliamentary seats means “marginal seats” and he mentioned the reshaping of Balik Pulau, Parit Buntar, Sekijang seats.”

    http://theindependent.sg/under-political-pressure-najib-keeps-central-bank-out-of-scandals/

    Like

  9. Nothing is wrong with Arul Kanda when he knew that he lied but something is very wrong if he didnt know what he said was a lie.

    Like

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