In The J-Star front page caption box today, Si Gunting Dalam Lipatan quoted Najib Razak as saying:
“1MDB’s assets are larger than its liabilities. So in very simplistic terms, if 1MDB were to be wound down tomorrow, the company would still have some assets and and money left even after paying off its debts.”
Such a clueless and callous statement from the PM!
Tujuh azimat TRANSFORMASI
1. You establish an RM1 million company that incurred an RM45 billion debt (RM42.3b + the recent borrowing of RM2b + used up RM600,000 “standby credit” that is actually an instant loan)
2. You buy government land on the cheap (this becomes the 1MDB acquired/gifted asset) and then you inflate the price way above market rate so that your books are ‘healthy’ to look at and will boast “assets larger than liabilities”. Dah kononnya ada aset bernilai RM51 beliyon (including gains after land revaluation).
3. But at the same time, you buy freehold land – 234 acres in Air Itam, Penang – for RM1.38 billion. This commercial purchase price is 95% higher than what some of the land was valued at just two years earlier in December 2011, according to an expose by The Edge.
NOTE: 1MDB director Ong Gim Huat is a Penangite in the construction and real estate business, and reportedly a friend of Jho Low’s father
ABOVE: Larry Low Hock Peng is Jho Low’s father who was congratulated together with 1MDB director Ong Gim Huat upon the conferment of both their Tan Sri titles – click to enlarge
Already overpaying for this very pricey land in the land-scarce Penang island, you then promise that 1MDB will build 6,666 low-cost flats (!) and 3,333 affordable homes. It doesn’t add up. Even Penang’s most famous “failed accountant” import from Malacca can tell you this, and he did – see LGE’s statement on 24 Sept 2014.
Like Tun said, the 1MDB land has either to be sold or developed first before you see any money out of it. And development projects take years to complete.
Jadi nih Najib mengukir janji selagi ada bulan dan bintang ke?
4. You make the government guarantee your RM11 billion bonds that became dubbed as “one of the largest global issues from Southeast Asia” – see ‘Najib says 1MDB’s US$3b bond has government support‘ (The Sun Daily, 18 March 2015)
5. You wanna start selling your assets under pressure and call it “restructuring”
6. You plan to make an initial public offering on your energy unit acquisition but do you really think your IPO will have many takers?
7. Are you intending to coerce the government agencies to carry your baby – the expensive, overpriced power stations?
Mind you, the points above are only scratching the surface.
In view of the facts as they are, doesn’t Najib’s statement as quoted by the EvangeliSTAR on its front page (see below) – “1MDB’s assets are larger than its liabilities … company would still have some assets and and money left even after paying off its debts” – come across as 1transformative accounting?
Another J-Star black box caption on its front page quoted Najib as saying:
“I was elected by my party and by the people of the country, to lead them. As such I’m answerable only to the people – not to any one individual.”
Ahjibgor’s statement was recapped under the sub-heading “Dr M’s criticism of his administration”.
There is one little clarification necessary on what the Umno president said. The truth is he was not “elected” per se by his party as he obtained his position uncontested.
Additionally, Tun may indeed be “one individual” only but in this particular matter, he speaks for many rakyat on BOTH sides of the political divide.
Pro-DAP minions
The J-Star banner headline today touts “The Prime Minister responds”. Sorry lah but the PM’s response is lame to say the least.
The front page is black as you can see for yourself. Black is a funereal colour for the Chinese.
The backstabbing MCA paper could have featured its Page One either in the normal colour of white or if adamant on using reverse lettering, then have the text background in the BN blue.
So why do you reckon the J-Star picked black? I wouldn’t put it past the Sneaky Star to have done this deliberately in order to hint at Ah Jib’s incipient burial.
Observe how The J-Star published an innocuous autumn festival photo – below – during the election year (2013) which had cleverly carried the DAP ‘Ubah’ branding. The party’s hornbill mascot with its Rocket logo is glimpsed on the bespectacled lantern vendor’s left – click scan of the paper’s page to enlarge
Helen Ang 
It no longer is a question of the size of the assets over liabilities or the profits and losses associated with what is fundamentally an illegal financial operation by government to engage in the appropriation of parliamentary sovereignty, authority, right to scrutiny and to a large amount of money belonging to the nation with a secretive foreign controlled financial structure.
It is about accountability, the consolidated fund perhaps, and ministerial responsibility. Any amount of money including that which the Selangor State government appropriate to itself then passed on to Ambiga Sreenivasan’s Bersih to overthrow government is required by law and the constitution to be subjected to parliamentary scrutiny. There are no if’s or butt’s about it.
It is a question of credibility and ministerial responsibility as well it is a question of parliamentary powers which have been appropriated to a foreign state (the Cayman Islands).
Government is required to answer to its critics with a credible and an appropriate response. Whilst I do feel for the current government, what started out as a mole hill is now a mountain and getting bigger.
It beggars belief that government is unable to at least hire a PR firm to address the issue on its behalf which is the best thing to do in the circumstances. Its ministers and public servants are inarticulate and unable to convincingly put its case forward. The result is that it has carved out a ditch for itself into which it is rapidly descending.
“A man who was completely innocent, offered himself as a sacrifice for the good of others, including his enemies, and became the ransom of the world. It was a perfect act.”
– Mahatma Gandhi
Aside from perfection, there are several gradations of selflessness, which are desirable in the character of him who forwards himself as the leader of the people. In which grade is the PM?
A prophetic lesson about the great importance of right motivation in our plans and actions:
On the authority of Abu Hurairah (may Allah be pleased with him), who said: I heard the Messenger of Allah (ﷺ) say:
“The first of people against whom judgment will be pronounced on the Day of Resurrection will be a man who died as a martyr. He will be brought forth and Allah will make His favours known to him which he recognizes. The Almighty Lord will say: ‘And what did you do with those favours?’ He will say: ‘I fought for you until I died a martyr.’ But the All-Knowing will say: ‘You have lied – you fought that it might be said about you: “He is so full of courage!” And so people said that about you.’ Then the order is given for him to be dragged along on his face to be cast into the Hell-fire.
Another man is then brought forth, one who had studied religious knowledge and taught it and he also used to recite the Quran. He is brought before Allah Who makes known His favours upon him which he will recognize. The Almighty Lord will say: ‘And what did you do about them?’ He will say: ‘I studied religious knowledge and I taught it to others and I recited the Quran for Your sake. But the All-Knowing will say: ‘You have lied – you did but study that it might be said of you: “Oh, he is a learned person!” And you recited the Quran that it might be said of you: “Oh, he is a reciter of Quran!”. And people indeed said that about you. Then he will be ordered to be dragged along on his face until he is cast into the Hell-fire.
Then comes another man whom Allah had made wealthy with all kinds of possessions. Allah will make known His favours upon him and he will recognize them. The Almighty Lord will say: ‘And what did you do about these?’ He will say: ‘I did not leave out any of the things of which You approve spending money on, without actually spending in that cause for Your sake. But the All-Knowing will say: ‘You have lied – you did that so that it might be said of you: “He is the most generous person!” And people indeed said that about you. And then it will be ordered to drag him along on his face to be cast into the Hell-fire.”
– narrated by Imam Muslim (and at-Tirmidzi and an-Nasa’i).
Bismillahir Rahmanir Rahim
from the Quran: chapter “Muhammad”:
“But those who believe and work deeds of righteousness, and have faith in what has been sent down to Muhammad which is the Truth from their Lord, He will relieve them of their troubles and improve their condition.
Hence, is one who hearkens to the elucidations of his Lord the same as he to whom his evil work appears attractive and so he satisfies his own cravings?
Here is a Parable of the Garden which the righteous are promised: In it are rivers of water unpollutable; rivers of milk of which the taste never changes; rivers of wine, a joy to those who drink of it; and rivers of honey pure and clear. Also, all kinds of fruits for them; and abundant Grace from their Lord.
As compared to such as shall dwell for ever in the Hell-Fire, and be given boiling water to drink which will disintegrate their bowels?
And among them are men who listen to you (Muhammad) but in the end, when they depart from you, they say to the others who have accepted the Knowledge: “What did he (Muhammad) just say?” Such are men whose hearts Allah has sealed, those who follow their own lusts.
Know, therefore, that there is no god but Allah (Most Just and Merciful), and ask forgiveness for your own failings and for the faults of the men and women who believe. Allah knows how you move about upon the land and how you dwell in your homes.”
History is full of these myths of rogues and rebels who they say did it for all of mankind when all of mankind was not known to half the world then.
Even if that were the case, you won’t find that sort of man in today’s world. Today’s hero saves himself at the expense of the whole world. It is what we need to fight against. For that fight we need common sense not to rely on that past and that mythical hero you speak of. Neither exists or is unlikely to come around again. No second comings. No second chances. Be the change you want to see in the world.
“butt’s” (sic). A Freudian slip?
But I get the point about inarticulate bureaucrats and politicians. Can we blame this on the national education system?
And is this just another instance of “money politics” writ large, albeit on a grander scale?
After all, the country has had its share of financial scandals. The BMF incident comes to mind, of course.
We get all hot under the collar and worked up, for a while, but then it is back to “business as usual”, with “race and religion” coming to the fore.
Not a Freudian slip…………perhaps a bit subtle. Regardless, the education system is universally skewed towards self, a very narrow band, cut and paste solutions and a constituency of people who consider brand more important than they do substance. It is why inspite of Harvard Graduates (from the Kennedy School ) within the PM’s department and within the public service you get the inarticulate moronic shoot myself in the foot minister and senior public servant tripping over their inflated egos to fall into traps laid out for them.
The value of good PR is not something the novou riche the arriveste ever consider. Their ego’s are a programme which does not include common sense as part of their vocabulary.
Wah, agak lambat dikebumi…. Sebab dia sudah lama dipecat oleh Pemandu….. Ingat lagi Twit ETP kata “Former PM Najiib Razak….??
Ahjib kata he’s in control, hence he formed 1mdb at his whim n fancy w/out table it to the Cabinet…..power bodoh punya kerja sihh
A bit like Tan Khoon Suan and Tan Siew Sin or are you too young to remember?
Sleeping beauty comes to Parliament.
http://keris7lok.blogspot.com/2015/04/wakil-rakyat-dap-tidur-dalam-parlimen.html
Penat berpuasa kot?
Patut la pengikut dia semua jadi bodoh, wakil rakyat depa tiduq rupanya. Dr la katakan!
‘Tun may indeed be “one individual” only but in this particular matter, he speaks for many rakyat on BOTH sides of the political divide.’
Tepat sekali Helen!
The party’s hornbill mascot with its Rocket logo is glimpsed on the bespectacled lantern vendor’s left
Takpa Helen, salahkah saja kepada ‘Snowball’!
Many risk becoming just another farm member blaming Snowball. – See more at: http://www.themalaymailonline.com/opinion/praba-ganesan/article/pota-vote-a-mirror-to-malaysias-political-dysfunction#sthash.xI1RIA6y.dpuf
salahkan saja
He was chosen by the raakyat 48% popular votes and he forgotten its was DR M move that made him PM and not Muhiyiddin.
ntahlah….saya fikir, kita ni cuma ada seorang ‘puppet PM’….! sebab tu ramai yang angkat tangan kunun sokong, kunun sayang…! yang angkat tangan tu pulak sudah dikenal sikapnya yang mahukan wang, jawatan dan harta…maklum dunia materialistik!
‘puppet PM’ cuma membisu dan kalau bersuara pun, perkataan yang keluar hanyalah ayat-ayat yang sama yang disukai oleh penyokongnya, pengampunya….
biol sudah duniaku Malaysia…..!
Jikalau Sri Perdana sudi mengaplikasikan inisiatifnya “global movement of moderates” itu kepada keluarganya sendiri, maka tidak akan dia orang terjatuh ke dalam gaung kebendaan yang telah membawa kecelakaan kepada rakyat marhaen kini.