Money and Proxies or Cronies ! And Why Tun M want Najib out!

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.  According to RPK in MT , and if the revelation can be taken seriously –

.   since  MT and RPK  are perceived to be as apologist for PM Najib.-

so it’s only fair to read and form our own opinions based on what is penned down.!

. Then it does offer an interesting insight and an added perspective – of the reasons and motivation of

.Tun M and Tun Daim’s  in their quest to replace PM Najib .

In the Malaysian political arena,- things are never straightforward as they seem-

particularly now-as PM Najib’s premiership hangs on a thread ..

Any added element thrown into the volatile mix can be fascinating read..Just maintain an open mind !

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. Proxies !

The most important and crucial  of all is regarding the story of the proxies.

Rumour has it  Dr Mahathir is trying to get his proxies to transfer back his assets

but they need government approval first and Najib is not giving this approval.

Many of the proxies are playing the wait and see game.

If Dr Mahathir cannot get Najib to agree then the proxies need not do anything and can hold on to  all those assets that run into billions.

The only way Dr Mahathir can solve this stalemate is to get Najib replaced so that the new Prime Minister can unblock the freeze.

And Dr Mahathir no longer has time on his side so this must be done soon.

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How the Proxies came about !

When Umno was declared illegal in the late 80s –  all  assets in Umno’s name and bank accounts were frozen – and this triggered a financial crisis.

It was decided that Umno must no longer hold any assets and its billions of cash in the name of the party.

Trustees  would manage Umno’s assets and cash on behalf of the party.

3 people in Umno were the trustees: the Umno President, the Umno Deputy President and the Umno Treasurer and/or Finance Minister

But these 3 people could not hold all these assets and cash in their personal names because they were also ‘public servants’

So they created nominees and put everything in the names of these nominees.

And as a result ,  many Malay, Chinese and Indian millionaires .. turned into billionaires because of  Umno, MCA, MIC, Gerakan, PPP, etc.

They became cronies . and because of this association they became super-rich.

Therefore ,the billions they owned does not fully belonged to them..Some of it belonged to Barisan Nasional.

So that whenever  an election is held , each of them can be called on to hand back a few hundred million to

Barisan Nasional . And the ruling party will be able to raise RM1.5 billion to RM2.5  billion needed to finance an election.

But along the way –  some of those nominees who were now billionaires got greedy.

They refused to hand back what they were holding as nominees of the ruling party.

Furthermore, some died and their families decided to keep whatever the deceased left.

And money that was previously collected, billions of Ringgit, are still in the name of nominees

and BN  is having a hard time to get the cash and assets back .

Approximately RM15 billion to RM20 billion was spent in the 1982, 1986, 1990, 1995, 1999, 2004, 2008 and 2013 general elections –

There is still the balance of  hundreds of billions that was raised and parked somewhere ?

And question is, what has happened to that balance which is UMNO’s money?

Najib wants what belongs to Umno to be returned to Umno.!

That is the crux of the matter. Tun Mahathir and Daim are two of the biggest nominees who have parked Umno’s cash and assets

in the names of other nominees and they  are not co-operating to give what they are holding under trust back to Umno.

Tun Daim was smart enough to transfer out everything that his nominees were holding on behalf of Umno.

into his name, and He is unwilling to  surrender everything back to Umno.

Dr Mahathir, however, has not done so yet and Najib is making sure that he cannot do what Daim has done

Because Najib wants the assets and cash returned to UMNO .

And so without Najib’s approval –  Tun M or  Daim’s proxies/nominees  will not do anything with the assets  preferring to wait and see.

And that may be  why Tun Mahathir and Daim want Najib ousted.!

In the meantime , It is about making sure that Umno and Barisan Nasional no longer have a source of finance.

If Najib dissolves Parliament and calls for a new general election he is going to need around RM2 billion or more.

And Dr Mahathir and Daim are going to make sure that Umno and Barisan Nasional do not get this money unless Najib resigns.

Above is a condensed account of 2 articles from MT

full article-shoot-dont-talk

Full article: 1mdb-was-it-to-finance-the-2013-GE

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