Matters of opinion that enables me to understand or make some sense of my country- Malaysia

Posts tagged ‘1MDB’

Elitist created 1MDB

Datuk Seri Najib Razak has come out to reject what he termed as unsubstantiated and outrageous allegations against him and his family, saying he had never taken funds for personal gains from 1Malaysia Development Bhd (1MDB) or any other entities.

In his latest Facebook posting, Najib said the false allegations were part of a concerted campaign of political sabotage to topple a democratically elected prime minister.

– See more at: najib-takes-to-facebook-to-deny-wsj-report-blames-dr-m

Dance around all he wants , but PM Najib has not categorically denied that indeed,
Billions of Rm in funds were deposited into his account.!
Does it MEAN – Yes,its all True !?
That hundreds of millions USD was channelled into his bank account from 1MDB linked sources.!
 His FB posting seem to be confirming that the Billions deposited into his acount is true when he stated “not for personal use” a few times-these being the operative words..
It suggests that , the money was used – channelled to finance what He may term as Money is King style of money politics.
Perhaps ,the funds was used to finance millions needed for voters to redeem their vote-coupons for voting a certain party-as a small example- and what else Hanky Panky – In short,financing attempts to influence results of a General Election.
Isn’t that the main important issue? 
Principle of the matter is -1MDB a sovereign backed investment fund.
Loans taken to finance ventures abroad,that PM Najib as Finance Minister is in control of,and has final say.
But ,1MDB has directors PM appointed to oversee the administration and financial matters .
So- what is so many millions doing in PM Najib’s own bank account, instead of 1 MDB accounts?
Or why the need to channel hundreds of millions into His own bank Account ?
As  PM consistently claims He is merely on an advisory role in the 1MDB affairs.!
How he used the money  – be it “personal gain or not”   or  ” who is behind the expose’  in a conspiracy to topple him.”
is irrelevant – as the main principle is –
Whether there are elements of CBT or whether it can be qualified as embezzlement of Goverment funds?
Both of which are illegal and are seen as White Collar crimes – punishable by the laws of our Malaysian constitution – regardless of and affords no immunity to any individual’s position ,influence ,stature,power of the one who commited the acts.!
According to Khairy Jamaluddin (KJ)
The allegations made by Wall Street Journal (WSJ) against Prime Minister Datuk Seri Najib Razak that billions of ringgit
were transferred into his personal accounts were baseless and unsubstantiated,
WSJ defended the  article stating  the report was based on investigations and solid documentation.

Hong Kong bureau chief Ken Brown said they had been very careful with the report given the nature that it is on a country’s leader.

“We are very careful and we believe the investigation and documents we have are solid and come

from reliable investigation and not a political investigation.”

He added that the documents they possessed had been shared with the Attorney-General and

had also been seen by the prime minister.

When asked about the documents, Khairy (KJ) said he has not seen them.

“No. As I said these are allegations as of yet substantiated. He (Najib) already issued very clear

statement yesterday (denying the allegations),” he said.

The burden of proof, he added, lies with the accuser, not the accused.

“This is a very serious allegation and the logical conclusion is that there should be legal action.

As I said, the PM reserves the right to do so.”

The prime minister’s political secretary, said to a local daily that the PM

would take legal action against WSJ as the article was defamatory.

The article which was published yesterday, reported that Malaysian investigators probing into

1Malaysia Development Bhd’s (1MDB) investments allegedly traced nearly US$700 million worth

of deposits from companies linked to the state investment arm going into what they

believe was Najib’s personal bank accounts.

Actually, the whole country ought to wholly agree with YB KJ and get PM Najib to  sue the WSJ for this highly defamatory article

Let the “beans”  be spilt-  in a court of law and see what  “beans”  WSJ have.

Let the whole country determine for themselves – if there is financial mis-conduct or breach of public confidence of PM Najib’s brainchild – 1MDB.

The 1MDB fiasco has been allowed to fester by dragging on too long and inadvertently  and negatively impacting ordinary Malaysians .

1MDB is accused of burdening people.(GST ,subsidy removal etc)

Of getting desperate to source funds merely to service the interests of a collosal debt (Tabung Haji , EPF,Income Tax ,TRX -IPPs under and over valuations.

And among the reasons for the alarming performance of RM, weakening and unstable..on and on.

Feeling Fed Up with 1MDB..!

Malaysians are getting psychologically weary and just wish to move on and have this

1MDB unending saga / drama behind.-

It’s  getting ludicrously  over the  limits of what Malaysians can put up with  !

But it seems to be like a self inflicted leg wound  that will not heal-and risk becoming gangrenous -unless the leg is surgically removed  or it may risk infecting  the heart and the whole body perishes.!

PM Najib-If He sues WSJ 

On another line of thought , if PM Najib seriously consider filing a lawsuit against WSJ for defamation –

It need to be remembered that- WSJ like NYT are not a cheap Tabloid journalistic organizations.

They are journalistic entities ,with network of intelligence gathering assets across the world –

With access to information across all spectrums / political / social etc .

That know very well ,how vulnerable they can be to lawsuits,that can bankrupt them not to mention loss of credibility

as reputable media organizations to be taken seriously. if they just publish unsubstantiated hearsays that cannot be verified.!

And , in this instance , it is intriguing food for thought to wonder if , the facts / documents/evidence that can prove the validity of the published allegations – will be held close to their chest and not revealed unless provoked.

.      The Ace up their Sleeves?

In all probability, a lawsuit may be what is hoped for-

when they know the strength of what they possess as evidence that can prove beyond doubt

the validity of their claim in a court for the whole world to know-

and cannot be disputed nor denied not play politics with.!

PM Najib may be well advised to proceed with lawsuits wisely,for what  ” Can of Worms”  that WSJ can potentially open.!

For PM Najib may be underestimating the power of investigative journalism at His own Peril !
It was investigative journalism and unrelenting expose’ and ” Deep Throats” that knock the most powerful man in the world at that period ( US President ) off his perch!  (Watergate come to Mind)


FMT has this article :

Dr Mahathir Mohamad may be behind the blockbuster claim by both the Wall Street Journal  

 and whistle-blower web portal Sarawak Report widely circulating today that funds to the tune of nearly

US$700 million from 1Malaysia Development Berhad (1MDB)

were diverted into Prime Minister Najib Razak’s personal bank accounts in March 2013, reports the Asian Sentinel (AS).

AS notes that this is the first time that Najib has been personally connected to alleged “irregularities” in 1MDB’s financials.

It claims that the revelation “could be the final blow to bring down a leader who has been bullet proof from years of charges against his integrity” and that Mahathir’s “two-year crusade” to “drive Najib from office and put him in jail” might now well succeed.

“Najib has withstood a continuing barrage of difficult questions about the fund for more than two years,

blaming political enemies and repeatedly rounding up the divisional warlords of UMNO to back him,” the report reads.

Ominously, however, AS believes that Mahathir has more information,

including evidence of further movement of funds

and even information about the mysterious death of Altantuya Shaariibuu.

The report also cites UMNO’s recent decision to postpone party elections as a bid “to forestall any challenge from Mahathir’s forces in the party.”

It claims that Xavier Justo’s recent arrest in Thailand was “closely orchestrated” by PetroSaudi,

and that accusations that he had tampered with documents

“to make them more damaging” are thought to be “part of a move by

Najib to discredit Mahathir before he could feed more documents and evidence to the press.”

“Najib’s forces know what Mahathir has and are seeking to discredit him,

(Sarawak Report’s Clare Rewcastle-Brown) and

The Edge Malaysia, the Kuala Lumpur-based financial publication,

which has aggressively pursued the 1MDB story,” AS reports.

It claims that government-controlled media is being used for this purpose.

from : mahathir-behind-latest-wsj-revelation-against-najib/


Don’t shoot the messenger !

Actually – never mind the messengers,makes no difference

if their intentions were dis-honorable or noble in conveying the message.

Focus on the “Message.”. rather than the petty distractions.!
Because the significance of the “message” affects all Malaysians- who are already much burdened
by the peripheral impacts that may directly or indirectly be linked to the 1MDB fiasco

GST- EPF-Tabung Haji-Income Tax -TRX- .Abu Dhabi loan etc .

All of these merely to service the interests of a collosal sovereign debt ?

When/Where does it end ?

And the alarming unstability and depreciation of the RM.?

Ordinary people on the street may think  the weakening Rm has nothing to do with them or

realise how it can impact on their daily lives/livelihoods with dire consequences –

Forex Trading to many of these minds is of an alien environment –

and doesn’t make much difference to –  nor affect their daily grind in eking out a sustenance.

Life goes on for them.

unless it can be pointed out to them,

the links to the cost of living or purchasing power or even

cost of education for those affluent who can afford sending their kids overseas etc etc
In effect – negative results of a weak Rm..

Maybe then ,perhaps ,those who are in positions of power and influence in

Civil service or Goverment Administration –

who may be able to effect some stability and restore a sense of security

can finally sit up and take notice..and more importantly-
-DO Something about the situation !

Public perception towards the current BN administration is at an all time low,

with wave upon wave of scandalous allegations on corruption ,

power mis-use and abuse of the Tax payers contributions..

All these scandalous allegations needs no specific reference except for all encompassing name -1MDB !

And many are wondering if the weakening Rm is linked to investor confidence/or lack of – because of 1MDB issue.?


Perhaps a bit crude or extreme in the analogy -but like the proverbial

“frog trapped inside the cauldron of water with a slow flame below –

slowly boiling the water and the poor frog-

and worst part of it is that the frog doesn’t even realise it’s being cooked alive !”


Worrying Questions of Malaysian’s on 1MDB

What next when the next due date of the interest payment of the 1MDB loans approaches?
And where will the money be sourced from this time ? Which GLC to loan from ?
What National assets to pawn?
Why are those in Governance allowing our nation to be dragged into such a vulnerable position in the first place?

Imagine all the abovementioned was prevented or never happened, the Billions now being wastefully spent on

servicing a humongous debt that we should never have gotten in- in the first place-

if those in our Goverment had been doing their jobs !

All that Billions would have been better utilized for so much more to improve the Country’s infrastucture on both

East and West Malaysia and improve lives of ordinary Malaysians.

When will the powers-that -be , those who have the collective influence –

sit up and take notice and do something about it –

or are they going to sit idly by on their hands underneath their fleshy bottoms.

Cowering in cowardly silence .

And risk drowning together with the entire Nation ..

if the ones responsible for dragging the entire country into this messy situation is unable to salvage things!

And situation deteriorates to hopelessness and proves too late to rectify without sacrficing a huge chunk of our nation’s soul.!

Mind stupefying- that a situation

created by a few greedy ambitious power crazed elitist

fuelled by greed on one party and coupled with crazed craving of megalomaniacs of another

but that they  inadvertently lost control of the 1MDB beast they created

and the monster goes on a destructive rampage

terrorizing the collective psyche of a nation

un-restrained but  more horrifically frightening still is that

creators of the beast refuse to admit- the beast is off it’s leash

maintaining that the monster can be reined in

the beast can be tamed-

1MDB is impacting to a  degree -the country’s economic situation- and signs are that its getting more dire-

and yet despite so -is still defended staunchly  by a whole powerful legion of a bunch with reins to the Goverment,
Who themselves had nothing to do with it initially –  but got dragged into it along the way as the situation worsens –

And they seem to be in Denial themselves..! When panic buttons are being pressed left and right ..

When alarms have being wailing non stop past 2 years.

Yet, These bunch are so blase and oblivious  to the dire consequences happening as we speak.!

Prelude to ” Hear YE Staunch Defenders of 1MDB! “


  First they pontificated the Racist Rhetoric ,

And THEY did not speak out—
Because THEY were not Racist

                                              and it was not expedient – Politically 

Then they came for the Moderates and Liberals …..

who criticize the Bumi crutch  syndrome

                             and the religious and racist Bigotry ,

           that was emanating from extreme elements

                                                                                of our peace loving society

      And THEY did not speak out—
                              Because THEY were all for affirmative action.

And then surfaced voices of extreme Religious Fundamentalism ,

                               disrupting our  harmonious multi-cultural society

But THEY did not speak out-

              because it would be against the “divide and rule” principle

Then they came for the  Seditious – 

                                And  THEY did not speak out—
                                                   Because THEY were not Seditious


First were Voices of suspicion –

     on off-shore accounts of some investment entity
that may be  linked to Finance Ministry

from  Same voices that highlighted how National cattle feedlots – 

          becomes addresses of high-end  condominium Lots
Voices manifested from the Opposition.

                   But THEY did not speak out ,

                       because THEY were not from the Opposition

Then the Lid was blown and all came to know of 1MDB
a Saga of movie deals or multi-million pent houses
and Arab based Petro -Saudi –

                            that turn out to be a shell  company !

And some guy named Jho Low who routed
70 million to his Goodstar company -via petro-saudi
sourced from 1MDB—

 in a transaction that only can be described as Dodgy

In spite of all that-
THEY did not speak out –

                     THEY were claiming it to be some conspiracy
Or were THEY compensated to be mis-informed – Lucratively ?

Then came GST and the financial raids on GLCs..

                     But THEY did not speak out.
THEY were suppose to

                              Loyally defend without question   

           Lest THEY be asked to hand in their resignations!

Now ,there has arisen – questionable transactions
Possible CBT with alleged financial misappropriation

As things unravel- will THEY still be stubbornly muffled

                 By THEIR misguided loyalty ?

For then,eventually ….

                 they will come for the malfeasant in 1MDB

To sought out the accomplices to the irregularities
to demand for answers and accountability
If it is proven there is conduct of Criminal impropriety

And then THEY will find that.

                                           As their past acts and deeds are Condemned
There will be No-One who will want to speak for THEM !

                             Hear Ye Hear Ye ,

                    All Ye  Staunch Defenders of 1MDB

(inspired by Martin Niemoller’s poem” First They Came” )




.And for the Defenders-they can be ..

. A classic study of figures in public service.

.                                           .                        .Chastised names mentioned as

Prime Examples of

.                              .          . Misplaced Loyalties !

Cited  for..

.                .Displays of bizzare stubborn refusal of acknowledgement

In  their collective repudiation.

.                   . `Of reasonable logic and common-sensical conclusions

In their defense of 1MDB


.The question many fantasize …

. If they be so lucky to be amongst Privileged guys

. Vengeful defenders of 1MDB

. What price will they want…were it to be demand?

. That they need to

.                           .To pawn off principles -sell-off morality.

. Determine a price tag on Moral integrity

. Merely by ignoring and pretending they do not See.!


.And if the Price is right –

.Will any hesitate to — Give away Pride?

.Reject conventional Human values

.And even Discard Legacies?

.What price indeed – To defend 1MDB..?


Why is Jho Low Back in Town?


Can’t help but to ponder why Jho Low is back in the country ?

Hmmm.why would a billionaire take a risk with his physical presence coming back to Malaysia knowing so many are after his scalp,blaming him for his alleged role in the 42 billion 1MDB debt.

Why ?

Noticed the proximity in timing of Jho Low’s risky return to Malaysia and 2 events-

The 1B loan from the Abu Dhabi group -IPIC- being announced ?Jho ‘s turf – He seems to have a good network in that region ,its also where Petro Saudi is based-

And the 1 million bounty for info of TDM’s illicit cash hoard?

.Could be just co-incidence,nonetheless still – SO intriguing..!

Why would any sailor choose to steer and sail himself straight into a storm?

Of course in this instance ,it is the 1MDB storm that puts him at some risk merely by his physical presence in the country. .
When he is at a relatively safe and calm location in non-turbulent seas at a distance -at his super posh JynWei HQ office in Hong Kong?
Guess there has to be a crucial reason why the alleged 1MDB Money-Man needs to be in town-

maybe getting too dicey for him to do transactions /correspondence online from any international location..

Never know who may be hacking and leaking the info–

Then again ,if it is some straightforward business scheme to resolve the murky troubled 1MDB situation that is above board ,then there is nothing to worry about-

But if there were to be some diabolical scheme being hatched regarding the 1MDB fiasco-and the Funds ?
SInce Jho Low has built up a sterling repute with the 1MDB funds -as some innovative financial wiz esp in Laundering affairs.,its not inconceivable that ,all parties rather not risk any more damaging leaks.

And maybe Najib needs his input and be a proxy  or a middleman of sorts – in how to sort out the current 1MDB financial mess via their combined networks ,since Najib cannot afford to ,or risk to be seen to-

be directly involved or have anything in-appropriate or opaque financial dealings involving 1MDB that can be linked back to him.

Najib seems to be building a wall of expendable cannon fodder around him , individuals positioned to take most of the flak and even be set-up to be the fall-guy/guys.-if things get too dire to defend .

Shielding Najib from the brunt of the attacks.

And also perhaps Jho Low can be used to contribute his 2 cents worth of schemes in Najib’s war-room tactics against the weird mis-matched coalition of unified voices of the opposition – in the common siege on 1MDB – but more threatening UMNO old guards and warlords led by none other than the battle hardened giant-slaying  Generallismo TDM..

Hardly has the dust settled in Jho ‘s return to the country ,and there is a 1 million bounty on- for details of TDM’s financial mischief /misdeeds of the past..

Just mulling,whether this Jho Low may have a hand in it -or not.!

And just what is CAGM that just materialised from thin air,practically  overnight ?

And who are these CAGM members offering the 1million bounty?

Perhaps by scutinising who the members are and their financial resources and esp where the 1 million bounty will be sourced from -can reveal if they are legit ?

Then there is the proximity in timing of Jho Low’s return to the  IPIC deal being announced.

The US$1 billion that an Abu Dhabi group is to pay 1Malaysia Development Bhd (1MDB) by June 4 –

is no big deal as 1MDB is only getting back its own money.

The Edge Weekly reported in its latest issue out today that in September 2014,

1MDB had controversially paid the International Petroleum Investment Corp (IPIC)

and its subsidiary Aabar Investments US$1 billion to terminate an option granted to them to buy a 49% stake in any future listing of its power assets.

1MDB had borrowed US975 million from a consortium led by deutsche bank to pay IPIC/Aabar.

The Edge added that this latest deal is bound to come with conditions imposed on 1MDB and Putrajaya, which was not disclosed by Finance Ministry on Friday. – TMI

 ( Also the Players  seem to be also from the region where Petro Saudi is from,and where Jho Low seems to have a network / connections -or is he merely a Front for another?
Coupled with the fact that ,there is yet again , valid questionable details not fully revealed -,despite that -amidst the current  hostile environment to anything remotely to do with how 1 MDB financial affairs are handled .
Anything that has any links to 1MDB cannot afford the luxury of confidentiality,given the public’s Trust deficit in the Affairs.-Anything short of transparency in any dealings is unacceptable-)
Strangely ,this IPIC arrangement is vaguely familiar and reminiscent of the Petro-Saudi type of that it may have the fingerprints of the same main protagonist -Jho “the 1MDB money-man” Low all over it.-Where the 1MDB money was going round in circles on a round the world trip-
So ,as The Edge  reported-(1 MDB is only getting back its’ own money) after the  money goes around in circles
Did Jho Low also helped to put the deal together.?

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