Friday, September 28, 2012

Pakatan's lies, lies and lies on 1MDB

The liar and his lies on 1MDB
In their budget, Pakatan Rakyat planned for Khazanah Nasional to dissolve and takeover 1Malaysia Development Berhad (1MDB).

This is their reaction when all it's lies about the government company have been rebutted and turned out as untrue.

To the receptive rakyat, they realised that the only thing consistent about Pakatan's relentless attacks on 1MDB is the inconsistency in their accusations and the blatant lie they tell.

And in each lie they expose themselves as liars.

It is pointless to listen and take the words of liars seriously.

Nevertheless, there is a need to explain and expose their lies so that the rakyat and nation will realise they have ulterior motive and not become victim . 

Nationalisation?

This evil man have ulterior motive
This blog's quick response to the Sinar Harian report on this aspect of their so-called budget yesterday was to describe it as "Nationalisation of 1MDB." [Read here]

It is not quite accurate but when considering the positive change 1MDB tries to put in place to bring the nation forward, Pakatan's action have the negative connotation of going backward and reverting back to a bad policy and practises of the past.

Nationalisation would also mean that 1MDB would be under the control of politicians and run in the same manner like companies run by civil servants, which is very bureaucratic. Fill in the blank as to what bureaucrasy in corporations breed. 

Read on and our claim of nationalisation would make sense.     

Pakatan's politicians intent to interfere
  
Now, why do Pakatan wants to "nationalise" 1MDB?

Pakatan claimed 1MDB duplicates the functions of Khazanah. However, they hide the fact that 1MDB is uniquely different from any other government company.

A simple check from public records will show that 1MDB is the only government company that requires its members of the board of directors to be a non-politician and non-civil servant.

This is clearly spelt out in the Memorandum of Articles and Associations lodged with the Companies Commission of Malaysia (CCM) and accessible to the public.

What do Anwar wants to dismantle?
Pakatan politicians have been talking about businesses should be free from political interferences and bureaucracy so that entrepreneurship in the private sector can prevail.

Isn’t this what 1MDB is about and a response to what the rakyat wanted and had explicitly expressed?

Since it's inception, 1MDB intended and implemented the concept of a government company operating with the same dynamism of the private sector but guided by the shareholder’s aspiration.

And at the same time, 1MDB tap on the experience and expertise of those in and outside government through it global board of advisors.

At 1MDB, the Prime Minister's involvement can only be as the Chairman of the Board of Advisors, which gives him no direct control over the Board of Directors of 1MDB. Unlike in Khazanah, the Prime Minister is the Chairman of the Board of Directors and has direct control.

Is this what Pakatan is aiming to dismantle by letting Khazanah take control of 1MDB? If not, why is Pakatan turning a blind eye on the unique difference between Khazanah and 1MDB?

How then can one say the two are the same? Similar maybe but certainly not the same and with different agenda.

Pakatan's inconsistency on KPMG

The lies about 1MDB will continue because Pakatan believe in the maxim that when you repeat a lie often enough people will accept it as the truth.

This is well documented by NPC's blogger award winner for 2012, Dave Avran here.

In the latest lie exposed, Dave pointed to the false accusation by the MP for PJ Utara that 1MDB “cooks” its book. In attacking 1MDB, YB Tony Pua attacks the credibility of KPMG, the accounting firm engaged by 1MDB.

This is the same KPMG he now calls “independent international auditors” for the Talam financial scandal.

Tony was quoted as saying the Selangor State Government under Pakatan “has taken the simple step of appointing independent international auditors KPMG to conduct a due diligence on the Talam deal immediately to ensure that the Malaysian public not only gets to hear from the state government, they have a open and transparent mechanism to evaluate the state’s competence”.

This is first or last of the consistencies by Pakatan in its obsession to kill off 1MDB. It is obvious to many that a successful 1MDB spells the beginning of the end for the old ways. It means the Government can effect positive change.

Pakatan's accounting boo boo


In 2010, Tony alleged that the RM425 million profit recorded by 1MDB had elements of 'right hand to left hand' deals implying that the FY2009/2010 financial accounts of 1MDB included the much talked about land transfer of the Sungai Besi Airbase.

However, that transfer was only made several months later in June 2011, after the financial year had ended.

Before 1MDB accounts were made public, Datuk Seri Anwar Ibrahim had confidently declared the accounts of 1MDB would never see the light of day.

When the accounts was lodged with the Companies Commission of Malaysia and accessible to the public¸ he cast further aspersions and disinformation.

He dragged 1MDB before the Public Accounts Committee (PAC), which normally deals with government companies that are losing money. Here is one company that is being penalized for making profit after profit.

PAC Chairman Datuk Seri Azmi Khalid had declared the accounts of 1MDB are “healthy and in order” without any discrepancies detected.

“Technically speaking, their (1MDB) accounts are in order. From what we can see, 1MDB has a healthy balance sheet which also shows profits for its investments,” said Azmi after chairing the PAC hearing on 1MDB at Parliament House last June.

Jealousy and envy of Pakatan


The intensity in which Pakatan is going after 1MDB raises the question what is it that Pakatan fears so much and wants to demolish?

Maybe 1MDB is doing all the right things or that it is doing all the wrong things.

Let’s consider some of the work by 1MDB.

What can be so wrong about 1MDB driving mindset change towards a high-income economy in an inclusive Malaysia? Is it wrong for 1MDB to demonstrate that indeed the federal government is capable of positive change?

Is it wrong to embrace global best practices to create a new environment rich in universal values and ethics unsuitable for any hidden agenda?

1MDB has made millions and is generous in sharing its profits with the people to provide them the opportunity to a better future, a better life. It is wrong that Pakatan wants to end all this.

It is wrong that Pakatan wants to punish the 1.5 million people who are directly or indirectly benefiting from 1MDB’s CSR projects?

Why deprive the rural folks of good healthcare through the 1Malaysia Mobile Clinics, the youth of 1MDB Dana Belia fundings? The Chinese students of a better future after their Unified Examination Certificates or deny the students of Seri Murugan Centre the opportunity to tertiary education?

Maybe Pakatan wants to blow away the future of Agama schoolchildren who are now pursuing professional qualifications to become doctors and accountants.


What about the strategic intent of its projects like building new growth nucleus through the Tun Razak Exchange, striving for a more competitive energy sector to benefit the people?

Go to Singapore and see what is happening down there!

The truth will prevail each step of the way. Until then, attacks from this liars against 1MDB will persist as a General Election looms.

7 comments:

Anonymous said...

Bro.
I am not a politican but i have access to IMDB operation thro my close friend who work with 1MDB. Let consider this facts.
1MDB started with 5 billion fund guarantee by goverment.
How do they spend this 5 billion.
1.7 billion used to buy three public co owned by Taib Family.They said this co bought by Petro Saudi a company incoprated in Sycheell IIsland with US 2 dollar paid up.The 1MDB give a loan to this co payble in ten years.Vary suspect transaction.1MDB is not a bank.Only J loo can answer this question.
The balance of the money 2 billion the bought derivitive product structure by Deuth Bank and chartered Bank.They bet against Japanese Yen.Theynlost all the money. against J Loo involved.
The 5 billion finished.
The 1MDB decided to invest in energy sector.They asked another 2 billion from Najib.Najib asked KWAP to give the money to 1MDB.how do they used the money.
They bought two coal company in Kalimantan and Mongolia.The Mongolia coal mine will only be in production in 2015.The Indonesian coal is already in production but they found found out later that the coal is not suitable for Tenaga Power plan due to low calories and high moisture.Gone another 2 billion.

1MDB become more aggresive.They decided to buy Ananda Power Plant for 8.5 billion.They paid full price anfdthe aquisation was fully funded by Malayan Banking.The price they paid to Ananda more that the market value.I heard there was a kick back paid by Ananda Trust Co Harapan Nusantara for 650 million.Raja Arshad and Tun Haniff as trustee for Harapan Nusantara afraid to sigh the cheque so they asked advice from Tun Mahathir.Tun said paid.?

1MDB bought second power plant from Genting for 2.3 billion.This is an old power plant almost 20 years they have only anothet 4 year left the agreement to sell power to Tenaga.This transcaction become a laughing stock amont the power plant executive.Accoding to my Friend from Jimmah Power plant ,if 1 MDB built the new power plant ,700MGT,the cost is less than 2.3 billion.1MDB can easily get the supply contract from Tenaga.They just le t the Genting Agreement expire.Genting declare by selling this power plant to 1MDB thay make 1.9 billion profit.wow?I think somebody from make alot of kickback money from Genting?

Bro ,Laisle Lopez wrote a detail story on 1MDB and try to publish it in Singapore Strait Time.But somebody from top stop it.E & Y was the first auditor of 1MDB,The want to qualify the accout.Board of 1 MDB disagree.They change to Delloite and now KPMG.

Why 1MDB refuse to cooperate with Parliment selectet commitee.They said they are private company but all their loan and bond is guaantee by govertment.Vary strange bro.Berani kerana benar.

Let compare note.over to you.

Anonymous said...

Eh senyap je...?

Anonymous said...

anon 11:13AM
wow so many close friends at so many places, are you rafizi by any chance?

with so many "confidential" information, please go to MACC and police to make a report. could be another watergate.
hopefully you have good and close friends in the police and MACC department.

Anonymous said...

the very above comment belongs to gossip section.
u heard this, he heard this blah blah blah. coal cannot use here there then sure fail, mongolia will produce in two three years then already considered fail

so how u even come to conclusion that two already a failure, is anyone guess. thats why i said thats all gossips.

and laughing this deal, that deal above market price blah blah blah. then amatuerish link Tun Mahathir. kickback this that.

i dont know. u said for urselft berani kerana benar. so what is benar about the gossip?

nothing is benar about that gossip. so kecut now?

A Voice said...

Anon 9:21

Spare the childish comments please if you wish to continue to comment.

Would have been better you just express your support to Anon 11:21.

Anon 11:21

Thanks for sharing info.

But the first few lines of your friend's info that 1.7 bil was used to purchase 3 of Taib's family PLC already raised question.

Did u mean UBG?

If so, can you get your friend to check again because there have been denials made and plcs are easy to verify.

Do keep his identity under wrap coz he doesnt seem to know his job. His boss could fire him for incompetence without making an issue of leaking company info.

I dont think i wanna bother to comment on the rest. Insider info must be verifiable and/or tally with official info released.

Too much fiction than fact on J Lho. Do excercise caution.

And why should Kalimullah's evil circle of people like Leslie Lopez not write something that can run down Najib?

He was a prime suspect in accusing rosmah of mudering altantuya and smear najib by going after razak and scorpene.

I ve heard of your stories before but it is not as simplistic as that.


Anonymous said...

anon 11:13 ----

Such things would happen if PR is in Putrajaya. But they are not. So what you wrote did not happen. Again, all unfounded kedai kopi talk. In other words, bullshit.

Anwar is used to people listening to him with jaws wide open and minds closed. Lets not be one of them.

Anonymous said...

The petro Saudi loan is offered at lower than the cost of borrowing. Will be good if you can clarify your motivations

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