1MDB denies evidence of their wrongdoings by issuing… some words.

At this point 1MDB can only act stupid.

Giving stupid answers just to fill the space in their official website.

Take for instance their latest press release.

Their first defence in investing money into Petrosaudi back in 2009 is to say that the key objective of it is to achieve a 40% equity stake in that ridiculous multi billion ringgit joint venture. This 40% equity costs Malaysia USD1 billion initially. But it doesn’t stop there.

PM Najib had often proudly announced that 1MDB had only RM1 million in capital when it first started, so where did they get billions of ringgit to pump in that USD1 billion in equity?

It came from RM5 billion debts issued in May 2009 when 1MDB was still called Terengganu Investment Authority (TIA). This company is the predecessor of 1MDB, with Jho Low as its adviser extraordinaire.

That RM5 billion Islamic bond was guaranteed by the Government and the purpose of obtaining them in the first place is for 1MDB to “seek, explore, and 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.”

This supposed to be their key objective. But somehow due to the problems and the money lost, this objective has been changed to ‘obtaining 40% equity’.

Now what kind of future prosperity and long-term sustainable economic development in Malaysia has that joint-venture created?

It seems that in order to justify the USD1 billion given to Petrosaudi, achieving that 40% stake is now considered a success. The standard has been set so low, even a dodgy business deal is considered a job well done.

1MDB had proclaimed (without documented roof) that Jho Low had resigned from being an adviser prior to the name change from TIA to 1MDB. But photographs placing him and the prime minister together with the owners of Petrosaudi in a yacht cast doubt over 1MDB’s assertion.

Subsequent letters between the advisers of 1MDB and Petrosaudi had proven that the yacht rendezvous was where both parties had schemed for the joint-venture.

All sundry knows that Petrosaudi is an obscure privately owned company prior to the joint venture. Its website published no business deals and commercial news before the joint venture schemed was hatched. It only got active after 1MDB gave them the billions guaranteed by Government.

It was also proven via documents that Petrosaudi has no ownership of the assets it claimed to have!

So question is:

  • why did the Government enter into an agreement with a privately owned company with no track records and no assets?
  • why did the Government gave USD700 million to Good Star Ltd; without the approval from its Board of Directors? If 1MDB is too stupid to understand this, what were the services Good Star gave in return to Malaysians in order to justify this kind of payment?

The blabbering fools behind 1MDB propaganda machine kept on saying that the joint venture yielded USD488 million in profits. But these profits were in the form of units.

Any sane businessmen will say that if you make an investment at RM180 and sell at a price of RM228 in cash, then yes the profit that you make is RM48 in cash.

But in the case of 1MDB, the investment they pay in cash at RM1.83 billion (for promotion of the future prosperity and long-term sustainable economic development of Malaysia) changed form a few times, revalued in the form of equity (which nobody seems to know why) and suddenly when 1MDB wanted to sell it for cash, it was transformed into units at a new revalued amount of USD488 million higher than the original cash investment.

To some idiotic businessmen, this is a good deal to them. Put in cash USD1.83 billion, get USD2.318 billion of units. That is a USD488 million of extra units! But where is the cash? Where is the future prosperity and sustainable economic development in Malaysia? What can Malaysians do with that extra units?

Some idiots said that USD2.318 billion of units were used to pay debts. We doubt that. But if we do believe this, then why on earth would you give billions of cash to a company, which in the end, the ‘proceeds’ were just used to pay debts?!

That is like getting a RM1,000 loan, put that money in a company, a couple of years later, you use that initial investment + ‘profits’ to pay off debts! Why get a loan, to pay off loan, without doing anything substantial with it?

What kind of stupid ‘economic development in Malaysia’ strategy is this, 1MDB?

This is what Bank Negara Malaysia had ruefully complained and hoped that 1MDB be charged when they had given fraudulent information with regards to that USD1.83 billion investment. BNM wanted the money to be repatriated back because let’s face it, it was remitted into companies which did not fulfill the original objectives on why the joint venture and the RM5 billion debts had been created.

These are evidence presented to the public. Evidence in the form of official documents. Documents which authenticity are not being denied.

1MDB is only good at words but lack the substance and substantial evidence to prove them innocent.

Note that when in the US, Najib said that 1MDB business model is too idealistic and flawed. In other words, it is a failed business model. Only a stupid leader would proudly strut around for months claiming 1MDB is good where it started with just RM1 million in capital and managed to acquired billions of debts in the process.

You ought to read these to understand the whole issue:

1) Arul Spins A Changing Story As We Publish More Documents He Can’t Deny!

2) How 1MDB Board Was Tricked By Lies From A Management Working For Najib!

3) Furious 1MDB Board Demanded Back Jho Low’s US$700 Million Five Days After JV Was Signed!

4) JVA Was Signed Behind Our Backs — 1MDB Board Fury Further Explained!

5) What people know about 1MDB – PetroSaudi ‘assets’

6) Did Petrosaudi swindle 1MDB and steal our money?

7) How Jho Low & PetroSaudi schemed to steal money from the people of Malaysia via 1MDB

#1mdb, #malaysian-corporate-matters

The Attorney General defends 1MDB

Yesterday we had a glimpse of the Attorney General reading out a script prepared for his press conference. This was his first time facing the media after his sudden appointment replacing the previous AG at the end of last July. It is unfortunate that he declined to have a question and answer session for the media. Perhaps, the questions asked might be too difficult to answer.

Regardless, the AG Chamber had used the press conference to defend 1MDB against the charges made by Bank Negara Malaysia.

Using form over substance, instead of substance over form, the AG cited technicality rather than the spirit of the law in order to justify why he is not prosecuting 1MDB.

Below are some of the reaction by commentators regarding the statement from the AG in The Malaysian Insider today:

image5.PNGimage1.PNGimage3.PNGimage2.PNGimage6.PNGimage4.PNGThe reaction by the public reflects their ability to see through the smokescreen and the facade on what is more important. The issue at hand here is certainly not why BNM did not ask further clarification.

The issue is actually how 1MDB had subsequently renege on the motive in remitting the billions of money overseas. Substance over form. Instead of doing exactly what they had originally disclosed to BNM, the monies ended up in places not revealed to BNM until at a much later stage.

Note that this is the same AG which back in August had claimed that the task force investigating 1MDB has been disbanded and in its place, has renamed a previous task force which had investigated money related crimes, and this task force will not investigate 1MDB.

But after he was chided by the Royal Council last week, the AG backtracked to say that the task force was never disbanded and he had never made such statement to that effect!

Oh dear, the cock and bull epidemic that has plagued 1MDB and Prime Minister’s office has now infected the AG chambers!

Even the MACC confirmed in their August 5th press statement that the task force was disbanded.

If the task force was indeed never been dissolved, then why did one of the MACC bosses urged AG to reactivate the task force? More than that, he made a disclosure that the task force has not met since July!

The flip flop statements made by this government is embarrassing. We are already an embarrassment during the International Anti-Corruption Conference last month.

One young Malaysian even called our Prime Minister a national disgrace. And the fact that the giants in Malaysian politics are accusing the government for abuse of power is very telling.

The arrests of Malaysian citizens for making reports on wrongdoings of a government and charging them for sabotaging the economy is mind-boggling and cruel. Even the draconian ISA had never been used on people who made reports.

Perhaps the government is confident and believe that they have strong support from the people in the next general election. Nevermind the fact that the wife of the persecuted has about 600,000 followers on her social media account.

If only 10% of her followers decided not to vote for Barisan Nasional, the government will lose about 25 parliamentary seats it had won by under 2,000-vote majority.

Just like one veteran politician had said, “why do things that will only upset more people towards the government?”

Hopefully the AG will find it in his heart to do the right thing.

You might also want to read:

1) Auditor General to furnish report on 1MDB probe in 3-4 months

2) Police need 1MDB audit report to complete probe, IGP says

3) Two months left for Najib to settle 1MDB controversy, says Tuan Ibrahim

4) Najib’s Transformation Of Malaysia Into An American Satellite

5) 1MDB’s Cayman fund may not exist -Bridge Global Absolute Return Fund not listed among Avetsra’s funds

6) 1MDB lied when countering Mahathir’s Cayman fund claims (UPDATE)

7) Arul Kanda and 1 MDB say “rationalisation plan” is a sham – Something about IPIC swapping assets with itself

8) Yang Amat Arif Apandi’s SOSMA clarification means Moody’s, Standard & Poors can be charged with sabotage


#1mdb, #malaysian-corporate-matters, #malaysian-judiciary

Caught with their pants down, 1MDB is stumbling over their own deceit

1MDB made a police report yesterday, complaining about confidential documents being published by Sarawak Report.

This is the second time 1MDB admitted that the documents published in Sarawak Report were authentic. Note that 1MDB and the whole gamut of Najib’s propaganda machine had been frothing in the mouth for several months pretending to believe that Sarawak Report and the recently unbanned business newspaper, The Edge had been using tampered and forged 1MDB documents.

1MDB itself had never brought forth or identified which documents they have claimed as doctored. Whatever accusations they had thrown towards these whistleblowers were just a general assertion that some  documents were tampered. Which one? They have never pointed it out.

Thus, after explaining and admitting their mistake regarding Sarawak Report’s damning story on 9th October 2015, 1MDB was caught with their pants down again a few days later when the news portal published another explosive story.

When you can't cover it up anymore, make a police report

When you can’t cover it up anymore, make a police report!

Reading between the lines of their press release above, one can’t help to feel that finally, 1MDB has forced themselves to admit in defeat that the documents which had exposed their wrongdoings, were in fact, very authentic.

And just like their irrational business model, they are now acting in a manner defying logic – make a police report when somebody had exposed their law breaking activities.

For the sake of brevity, the story which had drawn such a ridiculous police report can be summarised as below. Each of the points were substantiated by documented evidence by Sarawak Report. Importantly, 1MDB did not deny any of it.

  • That Jho Low is an active Adviser for 1MDB since its early days despite him denying any involvement with the debt laden company.
  • How 1MDB cheated Bank Negara by giving false declaration when remitting the money overseas. USD1.83 billion were transferred based on false presumption. 1MDB even declared that some USD500 million was going to be used to invest in a French company!
  • Follow ups by Bank Negara to ascertain updates on the investments were often futile. In the end, 1MDB actually gave all their cash to Good Star Ltd; not PetroSaudi, as what their joint venture agreement had stipulated.
  • PetroSaudi had fraudulently claimed that they own oil fields in Turkmenistan when they really don’t. A valuation report was not done independently and was readied a day after the joint venture was signed.

Well the rest is history. We all know that USD1.83 billion of our cash were lost in transaction. Replacing them were the mythical units which carries no value at all. 1MDB really need to look up the dictionary for the word ’embezzlement’.

Note that Xavier Andre Justo, the ex-PetroSaudi director is now languishing in Thailand jail for blackmailing his former employer. One can only deduce that all the documents used so far to exposed 1MDB’s wrongdoings, are genuine. Logically, you cannot blackmail someone with fake documents.

This time around, unable to deny and issue anymore explanation, 1MDB had resorted to make an outrageous police report. The one that had misled BNM was 1MDB, yet they are making police report to cry foul over the sudden exposure of their apparent wrongdoings? Why is this company keep insulting our intelligence?

It is clear that based on the BNM’s investigation papers, 1MDB had breached the banking system by knowingly giving false statement. When people are asking why didn’t 1MDB be charged for the financial crime where the evidence against them are overwhelming, 1MDB had the gall not to deny their wrongdoings, but stressed that the more important issue is how did the confidential documents got published!

And today, the Attorney General issued a statement defending 1MDB’s right not to be charged under the Bank Negara laws. Basically, since Bank Negara did not inquire much during the time when billions were transferred out of this country, then there is no need for 1MDB to be punished!

The onus is solely on Bank Negara. Using an anology, this means if a person was brought in the house by good faith and he not state his real intention, but a few years later it was discovered by the owner that the said person had stolen a few items from the house, the thief cannot be charged by the law!

Paraphrasing the AG’s words – “If the house owner does not request for certain or specific information from the eventual thief, how could the thief be faulted?

To make it even more perplexing, the thief now is making a police report because someone had obtained the proof of him stealing!

And to reinforce this bizarre situation, a cabinet minister from Sabah said that since events in 2015 had superseded the alleged wrongdoings done in 2009 to 2011, the issue has become pointless and should not be dredged up!


This whole conspiracy to cover up is not lost on Malaysians. And people all around the world are watching too. The players actively trying to defend the financial crime and the lost of billions are making a mockery of the whole system.

You might also want to read:

1) Hiding 1MDB’s loss for financial year 2015?

2) Ooooooh, Patutlah BNM Arahkan USD1.83 Bil itu DiBawa Pulang ! Kencing Rupanya…

3) Dahlan says, Sir Wenger counters

4) Bilahari sees a Seance

5) Charging of 1MDB’s Whistleblower and Lawyer Condemned

6) Minit Mesyuarat 1MDB DiDedah – 1MDB Kantoi Lagi!

7) Zeti Says Malaysia Central Bank’s 1MDB Move Vital for Integrity

8) 1MDB or Najib should be charged, not Khairudin or Matthias

#1mdb, #malaysian-corporate-matters

1MDB’s response to former Deputy Prime Minister is misleading

We just couldn’t believe the level of absurdity 1MDB had subjected the people with its response to Tan Sri Muhyiddin Yassin just now.

The fact that they had the audacity in hoping that the people are dumb enough to believe them shows how desperate they have become.

Below is their response to Tan Sri Muhyiddin Yassin’s press release. Our comments in blue:

1MDB notes the press release issued yesterday by Tan Sri Muhyiddin Yassin. The characterisation of 1MDB as a “debt-laden company” is misleading, as Tan Sri Muhyiddin, a former Cabinet member, knows full well that the value of 1MDB’s assets exceeds its debt.

If people googled “1MDB debt-laden”, they will find numerous business articles about how 1MDB is swamped with debt which they are unable to settle on time. If you can’t even pay your finance costs totalling about RM2.4 billion per year, surely your ‘assets’ means nothing regardless if it exceeds your debt. The important thing is, the government had to fork out RM950 million in standby credit for you and you had to beg a foreign company to give another USD1 billion just to service your debts. Back in 2014, you even begged the banks to extend the payment deadlines a couple of times.

All this makes you debt-laden. It is you who tried to mislead the public by saying you are not debt-laden eventhough all evidence pointed out that you are. Your gearing is so high, your cashflow failed you. Please get a dictionary to know the meaning of ‘laden’.

This fact is reinforced by the significant value indicated by local and international investors for the ongoing sale of equity in Edra Energy and Bandar Malaysia.

The fact that you have to be broken up into separate entities and have to sell the assets you had heftily required just to alleviate your worsening financial situation reinforces the reality that you are indeed a debt-laden and problematic investment company.

As a Cabinet member when 1MDB was formed, Tan Sri Muhyiddin is fully aware of 1MDB’s capital structure. With RM1 million in equity from its shareholder, the Ministry of Finance, 1MDB raised capital on the markets – which is the debt on the company’s accounts.‎ Many businesses, both in Malaysia and abroad, have used debt to successfully build their asset base. In 1MDB’s case, from RM 1 million equity, total group shareholder equity of RM1.7 billion was generated as of 31 March 2014.

Many businesses around the world are perplexed as to how a RM1 million company could haphazardly tried to amass RM42 billion worth of debts. That is like a person with just RM1 went on to borrow RM42,000. Indeed, being idealistic is an understatement. It is bordering lunacy. On top of that, you then could not service the interests. What you fail to tell the public is that by 31 March 2014 you incurred a loss of more than RM600 million. Can we know what is the loss for 31st March 2015? We can’t because you are repeatedly late in submitting your yearly audited accounts.

Notwithstanding the subsequent and ongoing challenges, which are well documented and acknowledged, 1MDB remains confident of generating surplus value as we progress with the rationalisation plan.

What good is an equity surplus when you can’t even service your debt? Experiencing repeated losses will eat up your equity eventually. Hence, you will not have enough cash to pay your debts and fund your operations. You were behaving irrationally in your business which in the end, as disaster looms, you need a debt rationalisation plan to undo your nonsensical business model. If the people did not make enough noise in 2015, you might trudge on and drag Malaysia into a financial abyss.

1MDB regrets that, despite repeated clarifications, certain current and former politicians continue to issue half-truths about the company. It is now clear that this is part of a deliberate and politically motivated attack, to ‎sabotage not only our previously planned energy IPO but the ongoing implementation of our rationalisation plan.

The one that being political is 1MDB. Constantly behaving like a politician in trying to give misleading explanation, half-truths and covering up your mistakes. For instance, your IPO was planned to take off in 2014 but was delayed several times long before ‘certain current and former politicians’ had begun to criticise you. The failure to list Edra Energy was entirely your fault. You yourself sabotaged your business model with your own absurdity.

Despite this, 1MDB and our 100% ultimate shareholder, the Government of Malaysia, are fully committed to executing the plan, as presented to Cabinet on 29 May 2015.

Out of several points the former deputy prime minister had said about 1MDB in his press release, you are only harping about the word ‘debt-laden’. Even then you failed in trying to disprove it. But it is good you have recognised that your 100% owner is the Government of Malaysia thus, you are ultimately answerable to the people. The people can ask you questions or call your bluff. And what is more important is to know who was responsible for the financial fiasco that had costs taxpayers billions in standby credit and losses. In the end it is the people who had to bear the cost of this rationalisation plan. Therefore coming back to the accusation that the former deputy prime minister had been misleading; who is it now that was trying to mislead who? If only 1MDB had been honest in conveying the truth, accepting criticisms and their failures, and at least have an ounce of accountability towards the public, then we wouldn’t have this huge ‘trust deficit’.

Thank you.

You might also want to read:

1) AGC confirms binned two Bank Negara requests for action in 1MDB case

2) Akaun 1MDB Tangguh 6 Bulan – Apasaja Berkaitan 1MDB Mesti Ada Tangguh-Tangguh!

3) Sue them all for 1MDB defamation, Tee Keat tells Najib after court threat against Liong Sik

4) Top debater slams PM as a ‘national disgrace’


#1mdb, #malaysian-corporate-matters

Adakah Titah Raja Raja Melayu akan diabaikan oleh rejim UMNO?

“Raja-Raja Melayu Mahu Siasatan Berkaitan 1MDB Diselesaikan Secepat Mungkin”

Begitulah titah Raja Raja Melayu semalam kepada rejim Dato Sri Najib Tun Razak. Secara keseluruhannya, para baginda telah mengulangi apa yang dikatakan oleh Tan Sri Muhyiddin Yassin ketika beliau belum dipecat, iaitu mahukan penyiasatan ke atas 1MDB dilakukan segera dan secara telus, dan pesalahlaku dikenakan tindakan tanpa mengira bulu.

Ini adalah pertama kali majlis raja raja mengeluarkan kenyataan sehari sebelum mesyuarat raja raja diadakan. Mesyuarat raja raja selalunya dihadiri oleh Perdana Menteri. Isyarat yang diberi adalah jelas. Para Tuanku sudah tidak sabar lagi dengan cara pemerintahan beliau akhir akhir ini dan telah memberi titah yang amat keras.

Moga sesiapa yang termakan cili dan terasa pedasnya boleh lah mengundurkan diri secara terhormat. Ini adalah pertama kali dalam sejarah apabila Perdana Menteri diperli dengan teruk dan dikritik hebat oleh majlis raja raja di dalam kenyataan terbuka.

Walaupun begitu, kami sebagai rakyat merasa agak khuatir ketika kenyataan Raja Raja tersebut dikeluarkan. Ialah manalah tahu, barang kemungkinan mereka semua akan dipecat dari singgahsana oleh rejim yang sedia ada sekarang. Mungkin ada juga ahli majlis raja raja yang akan dipindahkan ke Jabatan Perdana Menteri, atau dijadikan timbalan menteri! :p

Umum mengetahui, sesiapa sahaja yang bertanyakan soalan, sesiapa sahaja yang meminta agar 1MDB lebih ikhlas menjawab soalan dan sesiapa sahaja yang terlibat di dalam pasukan penyiasatan ke atas 1MDB dan isu duit RM2,600 juta akan samaada di pecat, di berhentikan kerja, di tukar ke jabatan lain dan tidak kurang juga ada yang dikeluarkan untuk menjadi ahli kabinet.

Gabenor Bank Negara yang bertanggungjawab terhadap pengawasan pengaliran keluar masuk wang 1MDB juga telah diburukkan reputasinya oleh para pengampu dan tentera siber Najib. Beberapa blog telah dicipta oleh pasukan siber tersebut khas untuk menggugat semangat beliau.

Mereka yang bertanya atau meminta badan badan berkuasa luar negara menyiasat 1MDB juga telah ditahan dan ditangkap oleh pihak polis. Ada juga yang dihalang ke luar negara tanpa diberi sebarang alasan yang munasabah.

Peguam Negara yang menjadi ketua pasukan menyiasat khas juga telah diberhentikan atas alasan kesihatan. Selalunya, pekerja yang menpunyai masalah kesihatan akan sendiri meminta berhenti jika merasakan masalah kesihatan mereka akan mengganggu prestasi kerja. Akan tetapi di dalam kes ini, beliau sendiri tidak mengetahui beliau akan diberhentikan sehinggalah diberitahu di saat saat akhir.

Pasukan penyiasat khas (Special Task Force) yang ditubuhkan khas untuk menyiasat aliran wang masuk sebanyak RM2.6 billion dan RM42 juta ke dalam akaun peribadi Perdana Menteri pun sudah dibubarkan. Mereka terdiri dari pihak Suruhanjaya Pencegahan Rasuah Malaysia (SPRM), Bank Negara Malaysia dan Polis Di Raja Malaysia.

Laporan awal dari Auditor General ke atas 1MDB yang kononnya akan ditunjukkan kepada orang ramai juga telah dirahsiakan isi kandungannya. Badan penyiasat Jawatankuasa Kira Kira Parlimen (PAC) juga telah dibubarkan seketika kerana tidak semena-mena 4 dari ahli PAC tersebut telah dinaikkan pangkat ke jawatan timbalan menteri.

Seorang Timbalan Perdana Menteri dan Menteri Kabinet telah dipecat dari jawatan mereka hanya kerana bertanyakan soalan yang rakyat semua ingin tahu. Alasan pemecatan mereka? Dipecat kerana bertanyakan soalan yang Perdana Menteri sukar untuk menjawab.

Tetapi sesiapa sahaja yang memuji 1MDB dan memuja Perdana Menteri, akan dijadikan menteri kabinet, waima mengikut jalan belakang sekalipun. Ada juga yang mengaku diberi wang RM1 juta oleh Perdana Menteri dan sebagai balasan pemberian tersebut, tidak putus putus beliau memberi pujian ikhlas kepada Perdana Menteri dan 1MDB.

Sekarang, Raja Raja Melayu telah sebulat suara mahukan supaya “badan-badan penguatkuasaan serta institusi-institusi kawal selia seperti Polis Diraja Malaysia, Suruhanjaya Pencegahan Rasuah, Bank Negara, Jabatan Peguam Negara dan Badan kehakiman, begitu juga badan-badan serta institusi-institusi kerajaan yang berkaitan  menyempurnakan amanah Ilahi dan kepercayaan rakyat secara telus, berkredibiliti dan berintegriti.”

Mungkin badan badan penguatkuasa dan kawal selia perlulah tahu bahawa keutamaan mereka adalah untuk “mendukung prinsip-prinsip Keluhuran Perlembagaan dan Kedaulatan Undang-undang menurut yang termaktub di dalam Rukun Negara”, dan bukan untuk “dikorbankan kerana matlamat politik yang cetek.”

Para Tuanku juga mahukan agar semua siasatan dilakukan segera dan semua “pihak bertanggungjawab untuk memberi kerjasama yang sebenar dan jujur agar usaha serta maksud siasatan tersebut berjaya.”

Di dalam konteks ini, Perdana Menteri tidak ada alasan lain melainkan untuk menelefon sendiri teman percutian beliau – Jho Low, agar kembali ke Malaysia supaya siasatan dapat diteruskan. Perdana Menteri juga harus menelefon secara terus mereka yang sudah melarikan diri ke luar negara untuk pulang ke tanahair dengan kadar segera. Ini supaya siasatan SPRM ke atas mereka dapat juga disambung semula.

Para Tuanku juga berminat agar “penemuan siasatan ini hendaklah dilaporkan secara lengkap dan telus supaya rakyat dapat diyakinkan akan keikhlasan kerajaan yang sama sekali tidak akan melindungkan fakta dan kebenaran.”

Akan tetapi pada realitinya, semua pasukan penyiasatan sudah pun tidak wujud. SPRM juga agak ketakutan untuk memanggil Perdana Menteri mengenai kemasukan wang RM42 juta dari SRC ke dalam akaun peribadinya.

Di mana PAC sekarang? Di mana Task Force sekarang? Di mana Auditor General sekarang? Di mana laporan BNM sekarang? Perdana Menteri harus menjawab mengapa rakyat harus menunggu lebih lama untuk mengetahui perkara sebenar? Dan mengapa mereka yang menyiasat dan hanya bertanya telah dianiaya secara zalim??

Pejabat Peguam Negara yang sekarang didiami oleh Peguam Negara baru pun sudah tidak berbunyi lagi.

Yang tinggal sekarang hanyalah siasatan polis ke atas mereka yang ingin mendapatkan kebenaran ke atas hal ehwal 1MDB. Itulah nasib rakyat Malaysia sekarang.

Majlis raja-raja mahukan siasatan dibuat dengan berintegriti dan telus, di mana siasatan tersebut hendaklah dilaporkan secara lengkap dan sama sekali tidak melindungkan fakta dan kebenaran. Bagaimana mungkin ini akan dicapai jika Najib masih menjadi Perdana Menteri?

Di harap tidak ada pula yang akan menubuhkan blog blog memburukkan majlis raja-raja atau membuat laporan polis ke atas para baginda.

Otak yang tepu dek kerana ‘cash is King’ mungkin sudah tidak mengenal lagi mana yang betul dan mana yang salah. Mana yang jelek dan mana yang baik. Bak kata Tun Dr Mahathir“Najib sendiri berkata ‘Cash is King’, ‘Wang Tunai adalah Raja’. Raja inilah yang disembah oleh Najib.”


Anda mungkin ingin membaca:

1) Kenyataan majlis raja raja

2) Kenyataan Tan Sri Muhyiddin Yassin

3) Kerajaan sekarang sudah tidak lagi mengamalkan demokrasi

4) Ringgit rallies on Rulers statement

5) Adakah Mereka Berani Derhaka Titah Raja?

6) Daulat Tuanku.. KBAB letak jawatan sahajalah

7) Malay rulers demand Putrajaya punish culprits in 1MDB scandal

8) Menjunjung Titah Raja2 Yang Mahukan 1MDB DiSiasat Segera, Najib Harus DiRehatkan Sementara Siasatan DiJalankan!


#1mdb, #malaysian-corporate-matters

Tan Sri Muhyiddin Yassin: Rakyat harus membuat laporan terhadap 1MDB



Saya amat menyambut baik dan menjunjung kasih titah DYMM Raja-Raja Melayu supaya kerajaan menyelesaikan secepat mungkin siasatan berkaitan dengan 1Malaysia Development Berhad (1MDB) dan mengambil tindakan tegas yang sewajarnya terhadap piha-pihak yang terlibat. Titah yang terkandung dalam kenyataan yang dikeluarkan oleh Peyimpan Mohor Besar Raja-Raja Datuk Seri Syed Danial Syed Ahmad semalam menunjukkan keprihatinan DYMM Raja-Raja terhadap kemelut 1MDB yang semakin hari semakin menjejaskan keyakinan rakyat terhadap kerajaan.

DYMM Raja-Raja pada kebiasaannya tidak mengeluarkan sebarang kenyataan kecuali ianya melibatkan isu besar yang menyentuh kepentingan rakyat dan negara. Apabila DYMM Raja Raja bertitah mengenai isu 1MDB, ini menandakan 1MDB adalah satu isu yang amat besar pada hemat baginda sekalian dan membayangkan kebimbangan mereka tentang kesan negatif kemelut 1MDB terhadap rakyat jelata dan negara. Titah DYMM Raja-Raja dalam hal ini amatlah saya hargai dan sanjung tinggi.

Oleh kerana DYMM Raja-Raja telah bertitah menggesa kerajaan supaya bertindak segera menyelesaikan kemelut 1MDB, maka pihak yang sewajarnya menjunjung titah baginda sekalian ialah YAB Perdana Menteri selaku Ketua Kerajaan. Tanggungjawab menyelesaikan isu ini akhirnya terpikul di bahu YAB Perdana Menteri sendiri.

Beliau mesti memastikan siasatan terhadap 1MDB oleh agensi-agensi berkaitan dijalankan secara telus, adil dan berkecuali tanpa sebarang gangguan atau campur tangan daripada mana-mana pihak. Lebih penting lagi, jika hasil siasatian mendapati terdapat pihak-pihak yang melanggar undang-undang, maka tindakan undang-undang perlu diambil dengan kadar segera tanpa rasa takut dan pilih kasih.

Sehingga kini, masih tiada sebarang tindakan diambil ke atas mana-mana pihak berhubung skandal 1MDB. Sepertimana yang dilaporkan oleh media, Tan Sri Zeti Akhtar Aziz, Gabenor Bank Negara Malaysia, telah membuat kenyataan bahawa BNM telah pun menyelesaikan siasatan berhubung transaksi 1MDB dan hasil siasatan telah diserahkan kepada Peguam Negara pada bulan Ogos yang lalu.

Jika hasil siasatan Bank Negara mengandungi bukti-bukti yang boleh mensabitkan mana-mana pihak dengan apa-apa kesalahan di bawah undang-undang negara, maka adalah menjadi tanggungjawab Peguam Negara di bawah Perlembagaan Persekutuan untuk mendakwa mereka yang terbabit di mahkamah.

Saya khuatir oleh kerana kemelut 1MDB adalah satu isu yang menyentuh kepentingan awam, maka kelewatan Peguam Negara membawa mereka yang terbabit ke muka pengadilan akan menyebabkan keyakinan rakyat terhadap kerajaan semakin terhakis. Adalah wajar bagi Peguam Negara tampil dalam masa terdekat untuk memaklumkan kepada masyarakat umum mengenai perkembangan mutakhir berhubung perkara ini.

Mengambil semangat titah DYMM Raja-Raja berhubung kemelut 1MDB, agensi-agensi penguatkuasaan seperti Polis DiRaja Malaysia dan Suruhanjaya Pencegahan Rasuah Malaysia yang dahulunya terlibat dalam Pasukan Petugas Khas siasatan terhadap 1MDB mesti diberikan ruang yang seluas-luasnya untuk meneruskan siasatan terhadap syarikat ini hingga selesai dan menyerahkan hasil siasatan kepada Peguam Negara untuk tindakan selanjutnya.

Begitu juga dengan siasatan yang dijalankan oleh Jawatankuasa Kira-Kira Wang Negara (PAC). Keanggotaan PAC mesti diisi dengan segera untuk membolehkan jawatankuasa ini meneruskan siasatan mereka terhadap 1MDB. Amat malang sekiranya siasatan oleh PAC terbengkalai hanya disebabkan beberapa ahlinya menerima pelantikan sebagai anggota pentadbiran kerajaan persekutuan ekoran rombakan kabinet baru-baru ini.

Masyarakat umum juga tertunggu-tunggu laporan Ketua Audit Negara mengenai 1MDB. Laporan awal mengenainya telah pun diserahkan kepada PAC. Dengan siasatan oleh PAC yang tergendala setakat ini, masyarakat umum pastinya ingin mengetahui status laporan akhir Ketua Audit Negara mengenai 1MDB.

Pada hemat saya, perkembangan siasatan dan pendakwaan berhubung skandal 1MDB amat mendukacitakan. Di satu peringkat kerajaan kelihatan serius untuk menyelesaikan kemelut ini, tetapi kemudiannya perkembangan proses siasatan kelihatan perlahan dan hampir tergendala. Seolahnya terdapat tangan-tangan ghaib yang sengaja mahu menutup kesalahan pihak-pihak tertentu. Ini adalah sesuatu yang tidak boleh diterima sama sekali.

Saya juga berasa bimbang dengan tindakan pihak berkuasa mengambil tindakan undang-undang terhadap pihak yang membuat laporan mengenai 1MDB. Yang terbaharu ialah penahanan Datuk Seri Khairuddin Abu Hassan di bawah Akta Kesalahan Keselamatan (Langkah-Langkah Khas) 2012 atau SOSMA 2012 semata-mata kerana tindakan beliau membuat laporan kepada pihak-pihak berkuasa di luar negara berhubung transaksi 1MDB.

Seingat saya SOSMA adalah satu undang-undang yang diluluskan oleh Parlimen negara kita untuk membendung kegiatan keganasan atau terrorisme. Adakah tindakan membuat laporan kepada pihak-pihak berkuasa berhubung transaksi yang dibuat oleh sebuah syarikat swasta merupakan satu kegiatan keganasan? Adakah 1MDB kini telah menjadi satu institusi yang kebal dan amat dilindungi oleh pihak berkuasa negara kita? Saya tidak fikir begitu. Membuat laporan terhadap 1MDB bukanlah satu kegiatan keganasan dan 1MDB bukanlah sebuah institusi yang kebal. 1MDB adalah satu entiti yang tertakluk kepada undang-undang negara.

Memandangkan DYMM Raja-Raja telahpun bertitah menggesa kerajaan menyelesaikan segera kemelut 1MDB dan mengambil tindakan tegas terhadap mana-mana pihak yang terbabit, maka pada hemat saya adalah amat wajar bagi warganegara yang prihatin menyuarakan kebimbangan mereka mengenai isu 1MDB atau membuat laporan kepada mana-mana pihak berkuasa supaya menyiasat setiap dakwaan terhadap 1MDB secara telus, adil dan berkecuali. Mereka yang membuat laporan mengenai 1MDB sewajarnya mendapat perlindungan undang-undang dan bukan sebaliknya.

Malaysia adalah sebuah negara yang berpaksikan keluhuran perlembagaan dan kedaulatan undang-undang. Kegagalan pihak berkuasa mengambil tindakan tegas berasaskan perlembagaan dan undang-undang negara dalam menyelesaikan kemelut 1MDB bukan sahaja akan menyebabkan kepercayaan rakyat terhadap kerajaan semakin terhakis malah mencemarkan nama Malaysia di mata masyarakat antarabangsa.

Dalam beberapa lawatan saya ke luar negara yang mutakhir ini, saya sering ditanya oleh pemimpin negara luar tentang isu 1MDB. Mereka berasa amat hairan dengan apa yang terjadi kepada negara kita. Mereka tidak percaya sebuah syarikat pelaburan strategik negara menanggung hutang berbillion ringgit dan menghadapi masalah aliran tunai yang kronik sehingga tidak mampu untuk membayar hutang-piutang syarikat. Lebih malang jika wang dalam kantung syarikat ini juga telah lesap.

Malaysia adalah sebuah negara yang amat dihormati oleh masyarakat antarabangsa dan diyakini oleh para pelabur dan pedagang di seluruh dunia. Janganlah kita biarkan kemelut 1MDB mencemarkan nama baik Malaysia. Janganlah kerana nila setitik rosak susu sebelanga.

Oleh yang demikian, amatlah wajar bagi kerajaan dan pihak berkuasa negara kita menjunjung sepenuhnya titah DYMM Raja-Raja Melayu supaya menyelesaikan segera kemelut 1MDB dan membawa mereka yang terbabit ke muka pengadilan tanpa rasa takut atau pilih kasih.

Timbalan Presiden UMNO
7 Oktober 2015

#1mdb, #malaysian-corporate-matters

It seems Tun Ling Liong Sik has the upper hand



In the previous article we have read how President Barack Obama sounded so happy in his statement about the TPPA. Bordering gloating, he said that the signing of the TPPA with other 11 Asia Pacific nations will greatly benefit American interests and help put American well-being first.

The USA has the upper hand in this. Their White House website even published a detailed framework on how the TPPA will greatly enhance America’s global trade presence; to the detriment of the other Asia Pacific participants.

Without the detailed content being provided by our own minister in charge, we can conclude that by signing the TPPA, it will only make the President of the USA a very happy man indeed. Only the most wretched would want our Parliament to ratify the TPPA without the public even having a glimpse at the details. Again, we are at a disadvantage.

And MTEM is right, there is no point in debating the TPPA in Parliament.

On a domestic political front, a recent news about Tun Dr Ling Liong Sik agreeing to the calls that PM Najib must step down did not go well with the regime.

Tun Dr Ling was reportedly saying:

“I agree with Mahathir. Because he has taken people’s money and put it in his own personal accounts,” Dr Ling was quoted as telling reporters after attending an event at Tunku Abdul Rahman University College here.

According to the report, the MCA man was asked if he agreed with Dr Mahathir’s demand for Najib to resign from office.

Dismayed by the lack of loyalty by Tun Dr Ling, PM Najib issued a statement asking for an apology for the alleged defamation otherwise, he will sue the retired MCA president.

It is peculiar that the MCA president was castigated and asked to apologise and be threatened with litigation when the original source of the issue, The Wall Street Journal and Sarawak Report were not even sued. In fact, the lawyers meekly asked reassurances from WSJ not to invoke some protective laws before they could even begin to think about seriously having an inclination to decide, whether or not they will proceed with the intention to sue.

But from the money trail as alleged by WSJ and Sarawak Report below, it is clear that some RM42 million from SRC International did go into Najib’s personal bank accounts.

The money trail

The money trail as alleged by WSJ and Sarawak Report

This is confirmed by MACC themselves in their statement:

“Referring to media reports regarding investments by SRC International Sdn Bhd, the Malaysian Anti-Corruption Commission has gone through the issue and found elements that were raised fall under the MACC’s jurisdiction,” MACC deputy chief commissioner (operations) Datuk Seri Mohd Shukri Abdull said in a statement.

“Following the check that was done, it is found that there is basis for the MACC to begin investigations under the MACC Act 2009, and hence, an investigation has since been started.

“In line with legal provisions, the MACC will conduct investigations independently and professionally and comprehensively,” he added in the brief three paragraph statement.

SRC International was the subsidiary of 1MDB before it was parked under MOF beginning January 2012. The fact that two people associated with the case, Nik Faisal Ariff Kamil and Datuk Suboh Mohd Yassin had both fled the country, despite being wanted by the MACC for assistance in the investigation, speaks volume.

It seems, SRC’s sole funding came from the RM4 billion they borrowed from Kumpulan Wang Amanah Pencen (KWAP) back in 2011.

And on record, only up to RM216 million out of RM4 billion was used by SRC International for its business activities in Mongolia. Questions were posed as to what happened to the remaining amount.

We believe should Tun Dr Ling Liong Sik bring this matter to court, then the lawyers suing him must give evidence that indeed public money did not finally enter into PM Najib’s personal accounts.

MACC will have to expedite their investigation on the RM42 million fiasco and their findings must be brought into the trial.

Should the judiciary is brave enough, this can either bring back credibility to the government, or further strengthen Tun Dr Ling Liong Sik’s aforementioned opinion.

But there are many ways to skin a cat. Tun Dr Ling can simply apologise in order not to incur further costs, or the PM’s lawyers can retract the lawsuit in order not to risk a trial, both parties can settle the matter quietly and amicably, or this matter can indeed proceed to the courts.

Regardless, the Tun appears to have the upper hand in this. Because if it was indeed untrue, Najib would have long sued Sarawak Report and the Wall Street Journal.

You might also want to read:

1) Our current economic position?

2) Why so fast to sue Ling but not WSJ, asks Kit Siang

3) The Umno dilemma, where no one’s position is truly safe

4) Kerana Ini Gani Patail Di Ugut?

5) Lessons From Zimbabwe, the Philippines and Togo

6) RM2,600 juta: Mana bukti perbelanjaan untuk Umno?

7) Where is the balance of RM2.6 billion donation, Muhyiddin asks Najib

8) MACC and Bank Negara hunting down 1MDB-SRC International fugitives?


 Tun Dr Ling Liong Sik early evening today had replied to PM’s letter as below:


#1mdb, #tppa

What is the TPPA, according to the Americans

Statement by the President on the Trans-Pacific Partnership

October 5, 2015

“I’ve spent every day of my presidency fighting to grow our economy and strengthen our middle class. That means making sure our workers have a fair shot to get ahead here at home, and a fair chance to compete around the world. My approach to trade has been guided by a unifying principle: leveling the playing field for American workers and businesses, so we can export more products stamped Made in America all over the world that support higher-paying American jobs here at home.

Over the summer, Democrats and Republicans in Congress came together to help the United States negotiate agreements for free and fair trade that would support our workers, our businesses, and our economy as a whole. When more than 95 percent of our potential customers live outside our borders, we can’t let countries like China write the rules of the global economy.We should write those rules, opening new markets to American products while setting high standards for protecting workers and preserving our environment.

That’s what the agreement reached today in Atlanta will do. Trade ministers from the 12 nations that make up the Trans-Pacific Partnership finished negotiations on an agreement that reflects America’s values and gives our workers the fair shot at success they deserve.

This partnership levels the playing field for our farmers, ranchers, and manufacturers by eliminating more than 18,000 taxes that various countries put on our products. It includes the strongest commitments on labor and the environment of any trade agreement in history, and those commitments are enforceable, unlike in past agreements. It promotes a free and open Internet. It strengthens our strategic relationships with our partners and allies in a region that will be vital to the 21st century. It’s an agreement that puts American workers first and will help middle-class families get ahead.

Once negotiators have finalized the text of this partnership, Congress and the American people will have months to read every word before I sign it. I look forward to working with lawmakers from both parties as they consider this agreement. If we can get this agreement to my desk, then we can help our businesses sell more Made in America goods and services around the world, and we can help more American workers compete and win.”

Congratulations to all the 11 nations in Asia Pacific that are on the verge of looking after the Americans’ interests and well being. They are Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Thank you for the job well done.

Read more here, on how the TPPA will help Americans to “rewrite the rules of trade to benefit America’s middle class.” Because if they don’t, “competitors who don’t share our values, like China, will step in to fill that void.”

Question to the leaders of the Asia Pacific countries who will sign the TPPA: If the American strategy of the TPPA is to protect the American big corporations’ products domestically and to push it into other foreign countries ubiquitously, how will the TPPA help the products from those foreign countries to enter the local American market?

Taken from the White House’s website:

The Trans-Pacific Partnership
What You Need to Know about President Obama’s Trade Agreement

Writing the Rules To Support American Jobs

America’s trade policy may seem remote and technical, but it has a significant impact on the strength of our economy and the lives of millions of Americans. If the businesses you buy from everyday also sell their products to customers abroad, they are more likely to expand and support jobs here at home.

Why is that? Ninety-five percent of the world’s consumers live outside our borders. Our Made-in-America products and services are in demand, making American exports a vital pillar of our 21st century economy. In fact, exports played an indispensable role in America’s resurgence from the Great Recession. So, when the rules are fair, Americans can out-compete anyone in the world.

Last year, we broke the record in American exports for the fifth year in a row, selling $2.34 trillion in goods and services abroad. And here’s why that’s important: The more we sell abroad, the more higher-paying jobs we support here at home.

And those jobs tend to pay Americans better, meaning companies that export pay up to 18% more than companies that don’t.

But right now, our current trade policy — the status quo — puts our workers and businesses at a disadvantage, with higher costs for American goods, more barriers to trade, and lower standards for workers and the environment abroad than we have at home.

That is why President Obama has concluded negotiating the Trans-Pacific Partnership and will now work with Congress to secure its passage into law. The TPP is a trade agreement with 11 countries in the Asia-Pacific, including Canada and Mexico that will eliminate over 18,000 taxes various countries put on Made-in-America products.

With the TPP, we can rewrite the rules of trade to benefit America’s middle class. Because if we don’t, competitors who don’t share our values, like China, will step in to fill that void.

That is why the President’s trade policy is the best tool we have to ensure that our workers, our businesses, and our values are shaping globalization and the 21st century economy, rather than getting left behind.

Good luck, rest of the world.

You might also want to read:

1) What is in the TPPA?

2) Tun Mahathir in Sabah

3) Keadaan negara kita

4) The worst trade deal for the participating countries

5) No confidence vote

6) Stiglitz on TPPA : The US is committed to a lack of transparency

#new-economic-model, #reference, #tppa

What RM2,600 million can do to you

"Umno is the only government that fights the Jews"

“Umno is the only government that fights the Jews”

The Jews praises Najib

A few weeks later, the Jews praises Najib for being friendly towards them (“calling for a new dawn”).

This is typical Najib. He and his administration and the people around him have shown the world that hypocrisy is indeed the best policy. Throw in buckets full of dishonesty, then we can already sum up what is known as the Najib Leadership.

It’s like hearing him said that he will not endorse the Red Shirt rally a week before it happens but immediately after, not only he endorsed it, he also praised and congratulated the rally organisers.

It’s like when he said that Umno is not involved in sponsoring the rally, but its divisions were issued orders to ferry people into the city. Even Felda settlers were not left in peace. They were herded to attend the rally as well.

It’s like the time when Najib in March this year have asked us to wait for the AG report to know if any wrongdoing in 1MDB had occurred but when it was submitted, the AG Report was not made public.

It’s like the time when 1MDB said they will give cooperation for the investigations against them, yet the PAC told the media that 1MDB was withholding documents from the Auditor General.

Not to mention the time when Arul Kanda, hiding behind his silly smile denied 1MDB had done any misconduct, yet the main players of 1MDB had run off and hid in foreign countries. They refused to return home and be subjected to investigations; acting like fugitives who had escaped after they were caught with their hands in the cookie jar.

For the past several weeks, is there any actual investigation being done on 1MDB? Of course not. The lack of urgency to investigate the wrongdoings in 1MDB does not deter the government at all. In fact, they try to delay it as long as they can. The latest rumour is, even PAC will stop investigating 1MDB once the Parliament is convened to re-populate the previously decimated PAC. Najib in September made a statement to give him another 6 months to solve 1MDB woes. This was on top of the original 6 months he had asked back in June. This effectively will white wash 1MDB of any financial mismanagement.

It’s like the time when Najib issued a statement that a Special Task Force has been set up to investigate the RM2,600,000,000 that went into his personal bank account but a month after that, had effectively disbanded the said Task Force by sacking and transferring the people investigating him. Some stooge even went great lengths to say that the Task Force was illegal to begin with, forgetting the fact that Najib himself had issued a statement about its existence.

It’s like when Najib told the public that he will sue Wall Street Journal on the immediate Tuesday after they had published the damning story, only to be told that after several Tuesdays, his lawyers just wanted to know if WSJ will invoke some protection laws against a potential litigation from Najib. If they won’t, only then they will proceed.

WSJ should just say, “sue us first if you think that our story – that you have received billions of money into your personal accounts is not true!”. Najib had said exactly that in the beginning, that there was no documented proof in the WSJ story and he will sue them. Regardless, all sundry know that the nonsensical hogwash that came from Najib’s legal team against WSJ are just theatrics. A comedy sketch meant for the paid audience.

Maybe we should add ‘comical’ as one of his shining leadership traits.

It’s like the time when Najib said 1MDB did not use people’s money to bail out 1MDB but conveniently forgotten that nearly a billion was used in the form of ‘standby credit’ to pay its loan interests. Not to mention the fact that it suffered more than RM600 million in losses for financial year 2014 and raked up some RM42 billion of needless liabilities which today did not bear any fruitful dividends.

It’s like the time when Najib said thank you to Haron Din for refusing to believe the WSJ story and for refusing to think that Najib could steal and put in billions of money into his personal bank accounts. Najib then reiterated that if he indeed wanted to do that, he wouldn’t do it in a Malaysian bank account.

In the end, it was proven that the money was indeed banked in into a Malaysian bank account. The lies that he had made blatantly to the public would have disqualified him to be the prime minister; at least on moral grounds, but the stooges and the sycophants around him did not bat an eyelid and continued to support him like a halfwit donkey braying for more lies and flip flopping statements.

This is what RM2,600,000,000 can do to you.

If you count a ringgit for every second in a day, it will take you almost 83 years to reach that gargantuan amount. If someone in 1957 had started counting it, he will only finish counting them in the year 2040!

That is how much money that Najib was holding in his personal account. Can somebody now imagine how much was the RM42 billions worth of liabilities needlessly amassed?

And remember the time when Najib claimed that he did not use the RM2.6 billion for personal gain? Were we given proof that indeed not a single sen was used for his personal use? Apart from the stooges and the sycophants that felt that Najib could have never, ever, ever, ever, lied to us all, we the people with brains would want to know the breakdown on the usage of the money in order to assure us that he had never embezzled the funds within his accounts. When can we have that evidence?

It’s like the time when his stooges said that the Umno Constitution provides for its presidents to receive donations through trustee accounts but when it was revealed that none of the top Umno leaders ever knew about these ‘trustee accounts’, they shifted the goalposts by saying that it is better for the president to park the money in his OWN PERSONAL ACCOUNTS than to be held by proxies!

Fiction writers really can’t compete with this kind of script. It seems, Umno does not have a proper banking accounts. And it seems personal bank accounts are safer than Umno’s own bank accounts!

Firstly, a trustee bank account with only one signatory and nobody else knew about it is actually a very private, a very personal bank account. This is a fact, no matter how absurd they want to lie about it.

Secondly, a public official receiving money and other form of gratifications is against the MACC law. If this occurs, it will be deemed as corruption. No two ways about it. He can thump his chest to say that it was for the general election but receiving it into his personal bank account is wrong based on the law because it has elements of corruption and embezzlement. He even said it in his speech back in 2012!

Thirdly, there is no use of redefining the money as ‘donation’. The fact that Najib is hesitant to reveal the source of these billions and why it was flushed into his personal accounts; the fact that he is not transparent as to how every sen of the money was used and how he blatantly stopped all investigations against him, have made him look like a guilty despot.

And lastly, when people are asking these questions, and if the answers are not satisfactory, they will ask further questions, or may repeat the questions again and again. This is not called the shifting of goalposts. Shifting of goalposts can only happen when one is defending something, in this case – Najib. You defend him by giving good answers. This is how you protect a goal. When you give flip flopping answers and lie to cover previous lies, this can be construed as shifting the goalpost. The examples given above are testament to all this absurdity.

The one doing the attacking i.e, the ones asking the questions and uncovering the lies can never shift the goalpost precisely because there is no goal to defend in the first place. The public is questioning the government led by Najib. The government can’t turn around and said ‘why did you change your questions’ or ‘this is just mere lies’ without substantiating any evidence to prove it otherwise. That is called arrogance.

Is the mantra “the day and age where government knows all and knows best is so long over” no longer applicable? Has the government really embraced hypocrisy, dishonesty, buffoonery and arrogance as its calling card?

By the looks of it, this is what the people have to live up with.

You might also want to read:

1) Race issues a diversion from 1MDB scandal, says ex-Special Branch deputy


3) UMNO kehilangan identiti, Najib tak mungkin mampu mengembalikannya

4) HOT ! Surat Terbuka Abdul Hamid Bador Kepada Kerajaan

5) Kenapa 1MDB perlu lagi 6 bulan?: Satu analisa ringkas masalah “cashflow mismatch” dan strategi “monetization” 1MDB

6) The uglier side of Umno

7) ‘Rotten fish’ syndrome in Umno

#1mdb, #malaysian-corporate-matters, #reference

1MDB – more questions on missing billions

After the Prime Minister ditched moderation in his leadership by supporting the racially charged ‘Malay Red Rally’ last Wednesday, he can kiss goodbye to his Global Movement of Moderates.

No wonder an MP has called the Prime Minister a hypocrite and a phony.

His own division leader, that uninspiring Jamal Yunos of Sungai Besar sees nothing wrong with Umno members hurling insults such as ‘cina babi’ towards members of the press.

With this kind of loyal yet stupid sycophants propping up Najib Razak’s image, it is no longer a suprise that his leadership is getting rather strenuous and desperate. Not to mention having zero credibility in the eyes of both domestic and international masses.

This kind of unethical leadership, bordering on the belligerent, has rubbed of 1MDB in their business dealings.

For the past week, the Wall Street Journal has written two serious exposés on missing billions. The first is a missing USD1.4 billion which was supposedly remitted by 1MDB to IPIC for collateral over the now abandoned power plant partnership between them.

The second was today when it is revealed that another USD993 million was not received by IPIC when 1MDB presumably had paid them in November 2014.

1MDB’s immediate reaction is to criticise WSJ for using confidential information, and for using unidentified sources as informants and also to stand by its audited accounts.

To attack WSJ for using confidential is rather stupid since this strengthen their story that all the information received were indeed credible.

To use WSJ’s unidentified sources against them is unwise too since some ministers who had attacked WSJ using the same argument when news of billions went into the Prime Minister’s accounts were proven true. WSJ had provided verified documents as evidence and this had left those sycophantic ministers humiliated and exposed them as nothing more than a mindless stooge of the Prime Minister.

"Don't ask me, I wasn't there!"

“Don’t ask me, I wasn’t there!”

And to say that 1MDB stood by Deloitte’s audit report can be pointless against the allegations since Deloitte could not confirm whether IPIC did receive the amount. Deloitte indeed did not audit IPIC financial account.

What they could only do is to send an intercompany confirmation of balances (in the case of debtors or creditors). If the third party company did not return the confirmation form to Deloitte, there is nothing they can do to confirm if the amount tallies or existed.

If the confirmation is pending or left unanswered right before the auditor signed off the accounts, they will only insert this as a note in the audit findings report. Audit findings report is a list of accounting violations or failure in internal controls which are submitted to management of a company. It is not a publicly available report such as the final audit report meant for shareholders and public.

To digress, usually the auditor handling all these intercompany confirmations is a junior auditor. At most a senior audit executive. He/she then will report to the audit field supervisor or a senior in charge, who in turn, reports to an audit manager. An audit manager, will have to sweat through the ordeal of submitting his team audit to the audit partner – the one ultimately signing off the audit report.

Therefore, to say that Deloitte’s audit report is 100% following audit methodology and should be 100% free of fraud is a misdirection altogether.

What 1MDB should have done is to get their former business partner in crime to issue a statement of denial. Is it so difficult for IPIC to issue such statement? To deny altogether what WSJ had published. To clearly show that indeed they have received a total of USD2.4 billions (USD1.4B + USD1B) and it is all recorded in their financial statements.

But IPIC itself under internal investigation of their own. The bosses highly associated with 1MDB, Khadem al Qubassi and Mohamed al Husseiny were removed in April and August respectively.

To cap off this debacle, WSJ had also revealed that Deloitte will not sign 1MDB audit report unless someone would have guaranteed the USD2.32 billion worth of ‘investment’ in the Cayman Islands. These investments were indeed worthless which in they end, on top of needed to be guaranteed, they were also classified as third tier assets in 1MDB’s 2014 accounts.

Enter IPIC, the ever willing partner to the rescue. Otherwise there will be a huge hole in the 1MDB accounts. We wonder what is the price for getting IPIC to guarantee such amount.

That USD2.32 billion could not stand on their own as Deloitte had some problem ascertaining their real value. Furthermore, it is not in the form of cash.

The previous auditor, KPMG was sacked precisely because they refuse to sign the accounts over this matter.

The initial amount of money had disappeared during the PetroSaudi – 1MDB joint venture which was terminated in 2010. It was initially a USD1.83 billion of cash which was pumped into PetroSaudi for a period of two years since 2009 under the pretext of loans to PetroSaudi.

Not sure what kind of units are they because as a minister, I have no idea

Not sure what kind of units are they because as a minister, I have no idea. Please don’t ask me tough questions.

This money changed in nature many times and revalued upwards between themselves to the final amount of USD2.32 billion. Ultimately, even the Finance Minister 2 could not answer properly what is the nature of this investment.

In total, there are USD4.23 billion (USD1.83B + USD1.4B + USD1B) suspiciously missing at the moment, amounting to approximately RM16 billion of Malaysian money.

We are now getting bits and pieces of information regarding the RM42 billion of loans unaccounted for. And it is sad that the truth came about from third party and documents from suppressed investigations. We wonder what information the public could have gotten if the investigation teams were not dismantled.

Will somebody stand up and be responsible for this financial fiasco?

You might also want to read:

1) Auditor only closed 1MDB’s books after UAE firm guaranteed US$2.32b in Caymans

2) Isu Deposit USD1.4 bil – Dalam Nota Penyata IPIC Pun Tidak Disebut Tentang Deposit!

3) Satu Lagi Bom Dari WSJ – Duit Tebus Option USD993 Juta Tidak DiTerima IPIC!


5) The chronology of 1MDB’s suspicious joint venture

6) Bekerja keras melindungi penyelewengan 1MDB

#1mdb, #malaysian-corporate-matters

The uglier side of Umno

It is comical to see the Prime Minister acting all surprised and touched by the turn out of the ‘Malay Red Rally’ yesterday.

This pre-meditated theatrics did not go unnoticed by the public. Note that only last week he said that Umno is not endorsing the rally.

But the rally itself was organised by Umno stalwarts, attended by Umno deputy ministers and at least one minister, and where Umno members from all over the peninsular were instructed to go and ferried into the city. Yet, the Prime Minister had the gall to be ‘overwhelmed’ by the support?

If there is a prime case of manufacturing your own propaganda and believing it too much, then this is it.

The public knows that the rally was organised under the pretext of shoring support for the embattled Prime Minister. Those who came were largely malays from the Umno party. Basically, less than 2% of Umno’s 3 million members went to Padang Merbok yesterday.

Are the sycophants now patting themselves on the back for delivering the rented supporters to this staged rally for the Prime Minister? However, a few supporters complained they did not get the money they were promised. Hopefully they did get it like the rest of the mob.

It is a pity that instead of celebrating diversity on Malaysia Day, Umno chose to organise a racially charged demonstration that hurled abuse and profanity to the non-malays, particularly the chinese.

In the previous article ‘The Ugly Side of Umno’, we did mention how Umno do not know how to be attractive to voters. And the rally yesterday had shown that they are totally clueless in scoring brownie points from the public.

We wrote:

Conservatively, about 150,000-strong crowd had gathered in the course of two days to protest against him. But the first initial reaction from Umno is that these people are DAP members and they must be ridiculed, censured and verbally attacked.

They never saw the need to see these people as voters. It is definite that not everyone who gathered during that protest is a DAP member. They are ordinary people. They have the power to vote in a government.

These voters were called shallow minded by the Prime Minister. He even called them as having poor sense of patriotism. Umno’s media propaganda even went on to label these people as traitors. Ironically, these are the same people that Umno and other BN parties had to canvass for votes during general elections.

Instead of taking the high road and address the demands of Bersih 4 two weeks ago, Umno  organised a counter rally to harangue the public.

No wonder two other main components of Barisan Nasional were dead set against this rally. MCA and MIC were against it claiming “that the timing of the rally is not right, and contains racial undertones. It can jeopardise racial relations and can affect economic growth due to the tension”.

Yet the BN Chairman cum-Prime Minister who is also the Umno President could only muster a meek ‘agree to disagree’ declaration during the coalition’s supreme council meeting. This is akin to another ‘agree to disagree’ fiasco among Pakatan Rakyat’s component parties on the issues of Hudud back in 2011.

What have ‘agree to disagree’ brought on to Pakatan Rakyat since then?

True enough, the rally was filled with instances of profanity, racial threats and violence.

Barisan Nasional, who had worked under the consensus system for the longest time, are being destroyed by someone who is facing leadership problems of his own; leading a lacklustre administration and condemned by domestic and international communities over his personal corruption scandal.

MCA and MIC are tasked in getting the non-malays to support Barisan Nasional yet Umno is trying very hard not to get the votes from these group of people. Former Umno presidents would have never condoned such rally. It will have a negative impact for the whole of Barisan Nasional. One must learn from history in order to be clear on this concept of power sharing and tolerance.

Even naming the rally as ‘Himpunan Maruah Melayu’ is a misnomer since those who attended are just  Umno supporters who have no qualms that their President have received RM2.6 billion in his personal bank accounts. In reality, the Umno malays are suffering a dent in their dignity when their ultimate leader is involved in such practice. They should be ashamed of themselves for showing support for this kind of leader. Their only saving grace is the fact that they are stupidly oblivious to how the greater majority (malays and non-malays alike) are looking towards them.

Smearing Malaysia Day with such rally just to hide the elephant in the room is a tactic of desperate men, afraid of losing power and position. Too bad they believe they are winning in the perception battle.

When the next general election comes, when the votes from non-malays dwindle to less than 5%, please do not squeak your shock with that pathetic ‘apa lagi cina mahu’ again when you should bloody well know why they will never vote you by then.

You might also want to read:

1) Rally was Umno’s ploy to divert attention from scandals linked to Najib

2) Is rally to restore Malay dignity, Najib’s flagging support


4) Lessons in Politics from Islam- Part 2

5) Derma RM2.6 Bil – Teori Kebetulan SRC


The ugly side of Umno

The problem with Umno these days is that they have no idea how to be appealing towards the general public.

When even the Prime Minister himself is using crude words to harangue and berate the public for showing displeasure towards him, Umno as a whole have lost the plot.

For instance, take last weekend’s Bersih 4.0’s street demonstration. Conservatively, about 150,000-strong crowd had gathered in the course of two days to protest against him. But the first initial reaction from Umno is that these people are DAP members and they must be ridiculed, censured and verbally attacked.

They never saw the need to see these people as voters. It is definite that not everyone who gathered during that protest is a DAP member. They are ordinary people. They have the power to vote in a government.

These voters were called shallow minded by the Prime Minister. He even called them as having poor sense of patriotism. Umno’s media propaganda even went on to label these people as traitors. Ironically, these are the same people that Umno and other BN parties had to canvass for votes during general elections.

Do these people who sang Negaraku in earnest looked like they don’t love the country?

You lambast and condemn them, yet at the time when you have to throw yourself in the mercy of the public, you beg for their votes; throwing huge sums of money here and there just to solicit support in order to remain as government.

This is the problem about Umno which has not been realised every single time Bersih hold their demonstrations. They jeopardise their own chances and, it is not surprising that the parliamentary seats won by BN in 2013 is fewer than in 2008.

No wonder MCA is getting tired of Umno’s petulant behaviour.

There was approximately 400,000 vote difference between BN and Pakatan in 2013 which Pakatan won on popular votes. That is about 3.5% difference.

Pakatan need less than 200,000 extra votes against BN to takeover the government, which could be translated to gaining another 23 seats to become a government. Currently, BN has about 25 seats which were won with under 2,000 majority votes indicating they are in a precarious position indeed.

If we are being conservative and multiply 100,000 people that went for Bersih with 3 (average number of voters in a family), that is already 300,000 votes lost by BN.

Coupled with millions of new voters registering between 2013 to 2017, where the majority are the youths which Umno had castigated for joining Bersih, then the signs are clear to see.

It is time for Umno to stop being a bully towards any critics when the solution is so simple. A couple of the people’s demands that attended Bersih are, ‘the resignation of the prime minister’ and ‘a more transparent government’. God knows, almost everyone we know are demanding for it.

These demands are justified and easy to fulfill. Everybody knows the prime minister’s position is already morally untenable. The whole world knows it. Never before Malaysians had come across such an embarrassing figure desperately continuing to pose as a leader.

It is ironic that the fate of Malaysians is actually beholden to the prime minister, his loyalists and several other Umno divisional chiefs. It is odd to have less than 200 people holding Malaysia in this kind of ransom-cum-political deadlock. The majority of people have spoken. Usually this entails a change in premiership.

Pak Lah was replaced not during a general election but after a strong message was conveyed by Malaysians about a year after the disastrous result.

Alas, with much stronger message sent to the prime minister; via demonstrations, to his own social media platforms, in the non-mainstream media and criticisms by global observers, it is remarkable to see how thick a skin can be. Umno should have been embarrassed to have a president like this.

However, Umno is paralysed to the core. The members cannot even make any constructive criticism without being labelled as a traitor by the prime minister’s many toadies, flatterers and minions.

Some Umno leaders stupidly said that its members must use the proper channel to air their grievances but everyone knows that criticism towards the leadership is no longer tolerated. Incidences where divisional leaders obstructed proposals from the grassroots which are not endearing enough by the party leadership is common.

With many bad examples to showcase Umno’s utter sycophancy towards a much maligned president, there is no way Umno can be appealing to the public anymore, let alone among the younger generation.

Umno Youth and Puteri Umno, the wings that will inherit the party once the current leadership is gone, will be stuck with a basket of rotten apples left by this leadership. Unless these young ones do something about this current malaise, then beyond 2018 there will be nowhere to hide from your own party members and the public.

You might also want to read:


2) MCA official quits post over differences with party

3) Rafidah Aziz to red-shirts: Just what are you trying to prove

4) More Uncertainty Ahead for the Country

5) Rally Behind Tun Dr Mahathir Mohammad

6) Everything seems to be going badly for Malaysia, says Nazir Razak

7) Najib is riding on the tiger and unable to dismount

8) The March of the Yellow Shirted and Shallow Minded People



A leader who is an embarrassment to the country

We can now be fairly certain that the Prime Minister lacks the courage to face the crowd. Although he once said that “semangat kepahlawanan tetap ada dalam diri saya” (the warrior spirit will always be in me), he had skipped a ‘Nothing To Hide’ forum organised by his own people in early June and now had skipped the International Anti Corruption Conference held in our own country.

Reasons given varied from ‘security issues’ to ‘need to avoid being grilled’.

What a shame for this country when a Prime Minister is afraid to face tough questions. Journalists are already complaining why is he avoiding questions in press conferences too. His last PC which had allowed questions from journalists was in early July. He did not dare to take any questions even after the announcement of a new cabinet!

His proclamations and statements now come from his own blog and speeches made at events. The sad truth is, if a prime minister can’t be transparent enough to answer allegations head on, then what is the point of governing Malaysia?

Even the founder of Transparency International, Michael Hershman is disappointed with the absence of the Prime Minister, saying “I am disappointed that he wasn’t here because I had hoped he would used this as a platform to explain what happened, to tell the truth. He missed that opportunity.”

He also said that his “disappointment is an understatement” and the prime minister’s “credibility certainly has negatively affected by his inability to address this head on and to tell the truth”.

Meanwhile, the Chairman of Transparency International went a step further by saying that the RM2,600 million money in the prime minister’s personal bank accounts has the elements of grand corruption.

Adding, “he has not explained, for what and where the money came from and what he was to do when he received it. He must also prove that the money is not illicit or that it comes from an illicit source. Political parties should not receive money that comes from illegal origins”.

No wonder an Umno veteran, Tan Sri Rafidah Aziz lamented that it is embarrassing to have foreigners pointing out the wrongs which Malaysians are also pointing towards the prime minister.

To be clear, by receiving RM2,600 million into his personal back accounts, there were many instances that the prime minister may have breached the MACC Act. Especially section 17 and 23 of the said Act. Not to mention section 165, 405 and 409 of the Penal Code.

If action can’t be taken or seen to be taken against a prime minister who had broken a law, then perhaps it is acceptable for a CEO of a GLC to receive millions of money from vendors/clients into his own personal account and claim that it is a donation!

Regardless, how the money was given is equally important as to how it was spent. If it was for political funding, Umno have never received ‘donations’ through the personal bank account of its presidents. That would be breaching the laws stated above.

IMG_0183This crisis of confidence and the trust deficit came from the personal corruption crisis faced by the prime minister. Never before in history where the personal bank account of the prime minister are being investigated. Shooting his own foot in the process, he sacked people who are investigating and questioning him and dismantled the investigation teams. And replaced them with loyalists and yes-men.

On top of that, he engineered delays in investigating 1MDB, a company which has so many problems it can’t even generate profits and pay back the massive loans it has needlessly acquired. It had to beg for debt forgiveness, use taxpayers money as standby credit and get an arab company to pay for them some of their debts in exchange for the prized assets.

This is the leader who had no qualms in lying to the people. Remember his statement immediately after Wall Street Journal published and exposed the billions in the PM’s bank accounts?

He said:

The latest allegation is that I have taken state-linked funds for personal gain. I believe Tun Mahathir, working hand in glove with foreign nationals, including the now discredited political attack blog Sarawak Report, is behind this latest lie.

Let me be very clear: I have never taken funds for personal gain as alleged by my political opponents – whether from 1MDB, SRC International or other entities, as these companies have confirmed.

At no point have those making these allegations offered any evidence. All we have heard is that these allegations are based on leaked documents and unnamed investigators. Not once has the source of these documents ever been shown, neither have the documents themselves been provided for verification by lawful authorities.

As proven later on, the allegations were proven to be true. He even slandered Tun Dr Mahathir as the person behind the allegations about his exposed personal bank account. Not only that, he defended himself by saying the allegations had no documents to substantiate the truth.

The money trail

The money trail

To add more spice in the guilt soup, some people from SRC International went into hiding to escape being remanded; when the prime minister could have easily called them back to help with the investigations.

Well the rest is history. The egg on the prime minister’s face was undeniably embarrassing.

One of the best parts came when Haron Din claimed that “it is unbelievable that someone transferred public funds into a personal account, if someone wants to cheat, they would have pumped it into a secret account”.

To which the prime minister thanked Haron Din for not believing WSJ’s story! He desperately wanted people to believe that no money was banked in into his accounts.

Lies after lies were perpetuated by his sycophants in order to defend their leader. But fortunately the public are smarter than all these sycophants combined. Too bad some people are still bent on supporting and defending a leader who had clearly misled the public. To many people, that in itself disqualifies him from being a prime minister.

The recent call by Zaid Ibrahim to get Malaysians of all across the political divide to prioritise the removal of this prime minister is seen as an appropriate plea to save Malaysia from further embarrassment.

It is not enough for the prime minister and his idiotic sycophants to give flip flopping answers on how the ‘donation’ was used. They must give proof on how the money was spent; a detailed list of each expenses and transaction made, to who and what was it for. Otherwise how would the public believe that every single sen was not used for personal gain? This is called accountability.

But he chose to remain silent about this and hide behind his abusive powers to sack and replace people for the sake of his political survival.

Journalists could not even reach him to get his response on the legal suit filed by an Umno member and also the latest legal suit by PKR for breaking the election laws. These are important litigation suits against a sitting prime minister/Umno president yet the public is appalled that he seems rather oblivious about them.

A good leader is one who is trusted by the people and one who deserves that trust. If the leader is not forthcoming and quick to tell the truth and be transparent, the trust is lost and he can never lead effectively. He is rendered irrelevant.

A politician can only lead when others accept him as their leader. When the prime minister no longer has the moral authority to lead, it is embarrassing to have him as a leader of this country.

You might also want to read:

1) IACC – Letak Jawatanlah Najib! Atau Memang Muka Tak Malu..

2) Legislative members, be responsible reps, initiate vote of no confidence

3) Najib should resign, says UN anti-graft coalition


5) Anti-graft organisation founder says Najib must come clean on RM2.6 billion donation

6) Najib’s Corruption Scandals Take The Lead At IACC Conference

7) PC turns farcical due to lack of evidence

#1mdb, #public-sector