Wednesday, February 10, 2016

Presumed Guilty III


Rocky Bru's latest posting highlighted public's screwed up sense of consistency and integrity is to meet to their biased or rather propaganda manipulated viewpoints.

Never do they ponder that they have been made to look the other way by propaganda and rhetorics.

Have anyone thought for a second that Dato Najib or even Datin Seri Rosmah couldn't possibly lay out the so-called long-winded money flow back to Najib's personal account?

Other's can make their assumptions but as we see, it couldn't be them both. One possibility (still a possibility) can create the element of doubt in any court.

Such transactions has to be done by someone with the experience in such esoteric off-shore banking and investment schemes.

It is not by any Tom, Dick and Harry banker or stockbroker or fund manager.

Najib would merely give the go ahead based on what was advised to him by either first CEO Dato Shahrol or as alleged by many, Taek Jho Loh.

Surely the intention told to Najib would be good and holy. PM cannot be expected to know the technical nitty gritty thus unfair to be wrongfully guilty. Furthermore, the accusers including Tun M have yet to offer any proofs.

If the money trail is true as certain investigators like to believe and without giving a second doubt due to lack of knowledge in such esoteric financial product, then it has to be the most sophisticated amateurish work.

The real reason for the maze of money flow cannot be merely to siphon money. It is layers and layers to enable and justify a purpose.

And, there can only be one and only one person in Malaysia who loves to dabble and do such financial structure and that is Tan Sri Nor Mohamed Yakcop. He is keeping quite in the background but this mamak watcher have not forgotten him.

Geng Loceng


By now, the consistent message from this blog - to seek for the truth and not be lost in the propaganda and perception game of Geng Loceng - should be clear.

Never did this blog say 1MDB was absolutely kosher or halalaan toyyiba. This blog kept reminding not to make presumptions, buy into simplistic politically motivated logic and wrongly accuse people.

Same with Tabung Haji case. Geng Loceng have not given up on their slander of Tabung Haji.

Though it was answered conclusively by Tabung Haji [read here], there was still attempt to raise doubts [answered here]. Rafizi is now squirming to get out of this trap he has set himself [read here].

After failing to pin Najib for murder, suddenly, the issue of Abdul Razak Baginda turned up.

This time, Razak met the press to explain himself of the "commission" received via Hong Kong registered company, Terasasi Ltd Hong Kong.

His commission met the EU requirement. It is all completely legit and common practise in millitary procurement.

The exchange rate is much lower than the current exchange rate, so lets not blow up the figure to RM130 million. Also it is not as straight forward as percentage of the amount of the procured asset. Itu sudah auta Keling!

The submarine procurement were revealed and explained way back before the general election. [Read 2012 postings here, here and here].

To show their naivety, the Geng Loceng may have got some foreign news to report French authorities are investigating. Same ploy by SUARAM's C4. Together with other recycle reports of FBI investigation, it is obviously the work of hired International PR agency.

The Razak and Altantunya game must have been the brainchild of someone whose not been keeping in touch with the issue. Either he was inside a jungle in Sarawak then or have been in and out of hospital over heart, or diabetes or high blood ailments.

Over CNY, Dato Mukhriz made press statement after being rejected by UMNO Division Heads, UMNO state assemblymen, and KCS and removed by the royal household. He requested the Royal Council of Rulers to get briefing from the investigators.

It is ironic of him to do so. His father curbed the rulers power, then Mukhriz was resisting the royal displeasure and dragging palace into his political problem, but yet giving his trust to the royal household and requesting them to do something not according to the tradition and practices.

He is emulating the theatrics of Dato Khairuddin Hasan. [Mukhriz is criticised here]

Subsequently, the Geng Loceng made a fuss over Attorney General suggestion to amend the Official Secret Acts to make the punishment more stern on leakages in government.

In principle, we agree.

Leak by government officers including top officials have reached epidemic preportion. Action should start with the irresponsible and devious intended manipulation of Tabung Haji leak documents.

However, life sentence is a wee bit too much. It is also not so simple because it involves not only OSA but the amendments of five to six other laws.

Perkasa argued what is wrong with leaking documents on Government wrongdoing.

Any of these hold water? 
Which one of the some six leaks recently proves any government wrongdoings? Will their allegation stand out in the court of law?

Such argument is so old PAS logic in style.

Quiet hidden hands


In Presumed "Guilty" II, this blog's repeated it's stand from the very beginning that should there be any hanky panky, it has to be Jho Loh and the first CEO of 1MDB from the days of TIA, Dato Shahrol. Both were instrumental in setting up of TIA and was involved in the much questioned Petrosaudi deal.

Shahrol and another early days member of the Board of Director of TIA, Tan Sri Bakke Salleh will be facing PAC from tomorrow, 11th to the 12th. 

Shahrol is not a financial man but was a consultant on some mumbo jumbo matter from Accenture. At TIA and 1MDB, he grew arrogant to the point of calling local Banks as bank kampong. Arrogance usually hides a person's insecurity. It is not presuming guilt but it is indication of something is wrong and leading to suspicion.

However, despite much claim on the ability and genius of Jho Loh, the two of them are likely to be too young and inexperienced to conceptualise the real (and still untold) purpose of the alleged money flow as published by The Edge.

The disputed money flow involved Petrosaudi and some sukuk bonds issued. Rafizi and Tony Pua have raised it but both are missing the real target [Search in here].

The latest Saudi Minister statement gave a hint to the answer.

The Sheikh claimed that the "donation" was from a private citizen is interesting.


He added it could be investment instead of donation. [Read in FMT here].

As expected, the critics of Najib and Geng Loceng went all out to accuse the government of lying and thought they have got Najib cornered. They fail to realise that it expose their inadequacy.

The statement also reaffirm that the money is not from 1MDB as they once accused. Najib received the money legitimately from someone.

Nevertheless, the Saudi Minister must be truly extraordinary. He could comment on a private citizen's "investment". He may have indirectly highlighted a certain feature of Islamic banking and finance.

This brings us to one mechanism which is part of the principles of Islamic Banking. The mechanism is Qardul Hasan (benevolence) or in other word, donation. Maybe (it is still maybe) that was what is understood by the Minister.

There are seven mechanisms in Islamic banking and finance. Combination of two or three mechanisms are seldom applied to create Islamic financial instruments. It serves to duplicate or justify emulating conventional financial instruments. [Read Prudent press here]

The person capable at conceptualising and daring enough (in other word, willing to take huge losses) to take the risk of doing such deals can only be Tan Nor Mohamed Yakcop. He is on the Board of Advisers of 1MDB from the inception. [Read Kinibiz highlights of NMY, Jho Loh and Shahrol here]

And he was appointed there for his Ministerial position then. Quoting Wikipedia:
... he served with Bank Negara, the Malaysian central bank, from 1968 to 2000. During his time in Bank Negara, he was responsible for the implementation of a number of major projects, including
  • the implementation of Islamic banking in Malaysia
  • the setting-up of the bilateral payments mechanism between Bank Negara Malaysia and Central Banks of South-South countries
  • the setting-up of the Rating Agency Malaysia Berhad.
He was also involved in a currency speculation scandal in the early 1990s, where Bank Negara lost up to RM30 billion. No actions had been taken on him as he moved on to hold important government positions.[2]

He was the Special Economic Adviser to former Prime Minister of Malaysia, Tun Dr. Mahathir Mohamad.

In 2002, he was appointed the director of Khazanah Nasional. He played a major role in government-linked companies (GLCs) like United Engineers Malaysia Berhad and Malaysia Airlines. The transformation of the GLCs is another feather in his cap. Following the Asian financial crisis, many of the GLCs were mired in debt and rudderless. In retrospect, his solution to their problems was simple.
First, he restored their balance sheets using the Government's sovereign guarantee when necessary as this guarantee cut down their cost of funds. Then he got young, bright professionals to manage these GLCs, giving them wide latitude to run these huge corporations but with the proviso that they did not line their own pockets. To ensure that they delivered, he introduced key performance indicators and service contracts. The GLC transformation is now into its third phase – and delivering results.

He was a member of the Dewan Negara, the upper house of the Parliament of Malaysia, for two terms before stepping down to run for the Tasek Gelugor parliamentary constituency in Penang in the Malaysian elections on 8 March 2008.
He is too familiar with Islamic banking and had business interest in the UAE. Willing to do things beyond his background and area of expertise. Daring to take risk and lose money. Done creative financial and policy matters.

Crooked enough to halalkan cara. His exploits have been extensively written in this blog [Search here].

All the elements are there to presumed he is involved. It is almost near to impossible that he is not in the know of what is happening at TIA and 1MDB. As former MoF II or Minister in charge of EPU, he cannot not be consulted either by Pak Lah or Najib on TIA or 1MDB.

But why is the Adviser quiet?    

Mind you, Nor Yakcop pretty much fit in the Geng Loceng profile. If there is anything to proof this suspicion, Tun Mahathir disagree with bloggers' call to get him sacked at one time.

So Nor Yakcop has got one leg with Tun M, one leg with Pak Lah, and one leg with Najib. Most important, he has many legs for himself as one Mamak blogger used to described.

Pandai dan licik Mamak ni ...

[Will update later. Some family matter to do first.]

Updated, Edited and Linked: 11/2/2016 9:30 AM

18 comments:

Bedbags said...

This post is brutal bro. You are merely fulfilling the prophecy. Whatever names you call the other side, its like you are taking cues from them. Lo and behold, shahrol is the one without a chair. Surprise? Not really. Every tom dick and harry knew the blame was going to someone and some from the supposed "loceng clan" kept harping about this guy.

Apa sudah jadi? You discounted the fact that najib was lying about the donation? This write up doesnt seem impartial btw. You point a few grey areas yet you conveniently discounted all the black and whites that came with it.

The end is near bro.

Anonymous said...

It is sad somebody is trying to name mat nor yakup as the culprit to protect najib.

Datu blogger, you kata jangan tuduh orang tanpa bukti.... but you yourself fitnah orang Is not that munafik????

Wallhuaklam

Anonymous said...
This comment has been removed by a blog administrator.
A Voice said...

4:34

Thank you for advise. However, we have other undisclosed reasons.

A Voice said...

5:56 - You comment was fine till you start behaving like a troll. Keep the immature and intellectually shallow comment out please

jamil said...

Who is LYING?
Najib said he DID NOT use the monies for personal gain. Yet Apandi Ali mentioned that Najib used the monies to pay the credit card thinking that the money was from the Arab donation because Najib was NOT aware of the 42million from SRC.now it is very clear that both stupid idiots are big times LIARS.

A Voice said...

Bedbags - You are entitled to your opinion and be misled by perception. These days ppl are afraid to give an opinion contrary to what the misled masses think.

It shows we have an independent and objective view. Never guided by blind loyalty.

Anonymous said...

Are you saying Najib was fixed? It looks like Najib failed to monitor his trusted leutenant.

bedbags said...

and you state that;

"These days ppl are afraid to give an opinion contrary to what the misled masses think."

nobody is afraid of anything bro. when you backtrack and go into reverse on the whole 2.6 billion suddenly not a donation but a sudden "investment", how does that make you look? so then by default, are you not being led by current news?

and there is only 2 options based on current developments, either you believe or you dont. it suddenly seems that you no longer believe that the 2.6 was a donation. correct? so i guess the masses who are easily "misled" were right all along? no?

this current development puts tremendous pressures on your shoulder bro as you lose points for being not consistent. what happens next month? already seems like you are trying to believe najib as being framed. funny thing is, since the 2.6 bil donation case has been in the limelight for about a year, why no mention of this? why was it to fight isis, for the GE and so many other stuffs?

seems like our beloved pm is cornered. how do you see this being that you are "objective"?

Anonymous said...

To be one leg one side and other leg on the other side is not good enough, his hand is holding to future would be leadership of Malaysia. Behind this guy is another person holding the entourage of would be future cabinet. All in the interest of protecting his fat asset.

Anonymous said...

Ini ketua geng loceng kalimullah pun senyap je, tapi dia baca comment. MNY pun diam. kJ diam juga. Muslihat banyak juga.

Anonymous said...

Looks like it is shahrol that is calling the shot.

Bakke resigned twice as 1MDB chairman, says Seng Giaw - http://www.themalaysianinsider.com/malaysia/article/bakke-resigned-twice-as-1mdb-chairman-says-seng-giaw

Anonymous said...
This comment has been removed by a blog administrator.
A Voice said...

9.54

I will not dispute but agree. Cannot be too trusting.

But he could have limitted choice with many moles quietly batting for the other side.

A Voice said...

Bedbag

Fine for argument. But you ve not covered all possible bases.

A Voice said...

Anon 2.44

Behave... I mean dont behave like troll.

Anonymous said...

You giving the nur mohd too much credit (no pun intended). This is beyond him. Dia cerdik tapi takdakla cerdik mana.

Ni macam nak kaitkan Mahathir dgn 1mdb. Takpalah. Itu hak hang. Tapi argument tu mau credible, bro. Kalau aku nak baca fictionalised accounts, aku pi blog rpk. You way better than that.

Anonymous said...

Certainly not the handiwork of Nor Yacob. A line has to be drawn between the men and the boys. Its the era of third room boys. Pak lak had his and now .......

Pak LA sold Akusta for euro 1, Why? Harley Davidson is doing very well with it now.

Why route petrol subsidies via ECM Libra? How was the subsidy quantum computed? Where is the unclaimed amount?

Birds of the feather do flock together!!!!!

My Say