1MDB: Where is the RM42 billion?


June 1, 2015

1MDB: Where is the RM42 billion? Just give us an honest answer and stop the bull, Mr Prime Minister

by Scott Ng@www.freemalaysiatoday.com

Confused NajibSome days, I really do wonder what happens up in Najib’s office at Putrajaya, where I imagine a veritable horde of PR consultants, headed by Lim Kok Wing, work tirelessly to try to salvage the much damaged reputation of the Prime Minister. Sweat on their brows, they toil into the late hours to find answers to the questions thrust at the Prime Minister day in and day out, hoping to find a way, any way, to counter the vicious onslaught of Mahathir Mohamad.

I do feel pity for the PR team. They have great odds stacked against them. But then another FAQ appears on Najib’s website that makes me slap my head in disbelief and I remind myself that they’re paid handsomely for their services and thus should be castigated in full measure for their failure to get the Prime Minister to make the right moves.

As blogger Jebat Must Die points out, the FAQ is misleading and, once again, fails to actually answer the questions it purports to answer. For one, it’s riddled with semantics instead of answers, like Najib’s “explanation” for the unaccounted billions that should be in 1MDB’s coffers.

Mr Prime Minister, no one said that the money was a “loss” as that would mean that there would be a paper trail to bad investments or sudden market fluctuations. What we’re asking is, where is the money?

It is quite weird that so much money could just vanish into thin air, and Jebat makes a good point in pointing out that 1MDB purchased RM15 billion worth of assets. If those billions came from the RM42 billion that 1MDB is in debt for, there should be RM27 billion left, aside from the company’s RM51 billion in assets.

For that matter, there is also the extremely valid question of why the 1MDB cannot seem to handle its own corporate crisis communication, leaving our beleaguered PM to answer all queries. You’d think that a company worth billions would invest in a crisis communication team since scandals and such are bound to come up every once in a while. One really has to wonder how much time Najib has for actual governance while he runs around putting out 1MDB’s fires.

The Prime Minister seems unable to get anything right, trying his hardest to pass the buck for the 1MDB to whomever he can shunt it to (most recently, the Auditor-General) only for it to blow up in his face. Jebat makes another great point in recalling that Najib truly is a career politician with no real-world experience, and as history has shown, pampered elites are quite usually disconnected from the rest of the world.

UMNO-TBH Goons

Attempting to attack Mahathir without answering his questions directly is not a viable method of discrediting the former Prime Minister, especially since those same questions are echoed by the general public, the opposition and civil society members. In releasing so-called answers that fail to address the questions, the Prime Minister seems to be taking us for fools yet again despite the public contempt for his previous FAQ, which suffered the same delusional disconnect from reality.

Now that documents have leaked that show Najib has to approve all major investments made by 1MDB, it seems like there truly is no road for his redemption. He is now personally answerable for all the bad investments, the vanished money, and all the baggage that comes with 1MDB, and no amount of out-of-touch FAQs can redeem a brand that damaged.

Fight on if you will, Prime Minister. Give us a good show, and keep us entertained. We’ve paid for it already, anyway. But when the inevitable happens, know that you were the architect of your own fall, not Mahathir, not the opposition, not the “liberals” your administration seems to sneer at, not civil society. You were your own worst enemy.

 

13 thoughts on “1MDB: Where is the RM42 billion?

  1. High hopes. My condolences to those who expect any reply from those who are being called upon to answer many questions.

  2. This must be the most expensive entertainment (show) to date for us all which in the end will most definitely make us cry

  3. We are hitting the Prime Minister, but what about the Ministers in his Cabinet. If they disagree with his nonsense, they should accept his challenge to resign. Paul Low and Idris Jala should take the lead. But they will not because they have no courage and no principles.

    Mr. DPM, you should take the cue and leave the Cabinet and use your time as Deputy UMNO President to campaign for Najib’s ouster as President. You demanded answers regarding 1MDB but he ignored you. It is time for you to make your stand and take him on. Obviously you will not. It could be that Najib has a hold on you and you are afraid that his lapdog, MACC, will investigate you.–Din Merican

  4. Ministers to resign?
    Of all things why pick on these 2 nobodies (the glass-maker and the cup bearer). MY won’t be moved. Why should he? Right now, even the shadows are running from themselves.

    Whatever was in Autasan about Jibros ‘my way or the highway’ during the last cabinet meeting, was a another piece of embellished turdism. Absolutely rubbish.

    What i know is that the cabinet were only privy to smatterings of the nefarious misdeeds and sheer idiocy of this FUBAR of SNAFUs. They weren’t bothered when Rafizi and Tony were yelling blue murder. It needed the splattering by cudgel bearing Octo to wake them up – by which time it became the proverbial runaway locomotive. Yet the Main Perpetrator had denials aplenty and showered more largesse on shorted out peasants.

    So MY sheathed his keris momentarily – until he sees the pressure build up sufficiently and sudden explosive termination ensues. Who knows when?

    MY, HM and even cousin Hisham weren’t around on Friday last. MY is in Oz, for whatever reason including there be dragons (er.. Sirul).

    So Din sabar sikit-la, boleh ke?

    Btw, i just advised a youngster not to pursue a career in Forensic Finance-Accounting. Dangerous la. Forensic pathology okay, if you relish maggots and putrefying corpses.

  5. Najib had no clue what really happen to 1MDB money.

    I remember when 1 MDB want to invest in Energy sector they ask him more money.

    He only ask two question
    1-“what energy sector”
    They reply buy coal mine.TNB require a lot of coal for their power plants.
    2-How much you require.

    They reply $2 billions.

    3-Najib ask KWAP to give a loan to 1MDB.

    They bought a shares in a coal mine in Indonesia and a Coal mine in Mongolia.
    (I cannot imagine how do they ship the coal from Mongolia to Malaysia,)
    I heard the coal mine in Mongolis is not even exist.
    My next question who pocket the money.

    This is one of the many deal that 1MDB did and Najib as FM and PM didnt go into detail.

    Din.
    Najib need to explain where the money from 1MDB disappear.
    Now the Arab want to injected the money into 1MDB .Najib is digging another hole to cover the old hole.
    Arab is not stupid.They will ask the govertment guarantee,the shares in TRX land,and maybe to support them to fight the Shiah influence.

    I heard Mahathir will organise a big gathering in KL in two week time,they will march to Jalan Campell police station tomlodge a police report against Najib.

    Tonight he is meeting foreign corespondent clun at Istana Hotel.

  6. This really is the best Schadenfreude I’ve ever tasted. What’s even more fascinating than seeing these imbecilic ministers squirming in their seats are their corrupt spin doctors and bloggers engaged in a warfare that makes them all look bad.

    Some pro UMNO blogs have chosen to sit this one out (sic) as if their spin doctoring achieved anything beyond dumbing down their readership – well ok, that’s the point of their spin doctoring, instead of you know, shaping the discourse.

    Those Pro-Mahathir bloggers really did us a favour. By helping start the fire that engulfs UMNO, the political terrain will never be the same again. Oh sure, we may slide into anarchy but it will not be because of the Non Malays but rather the sycophantic legions who had to chose between two corrupt and despotic tyrants. I laugh at their desperation and tears.

    I’m just waiting to see if Najib has the cojones to pull a night of the long knives or will he just let this corrupt, forgetful and mendacious Doctor, walk over him and take back the keys to Putrajaya.
    ___________________
    The UMNO goons and the spinners led by Lim Kok Wing and also by Kadir Jasin are driving the last nail in Najib’s political coffin. Yes indeed, they are doing us all a great favour. It is matter of time for the cookies in the national jar will crumble, only this time, we will get small broken pieces since there is no money left in the jar.In the meantime nobody is running the show. The civil servants are in their canteens having tea tarik and nasi lemak with GST and gossiping. At the end of the month they all collect their paychecks courtesy of taxpayers.–Din Merican

  7. Apropos nothing , but JebatMustDie is the kind of pro Establishment/Mahathir blogger whose posts make me laugh only because it is perceived by other Establishment types as intellectual”.

    I mean has anyone read his criticisms of Dr. Kua Kia Soong’s book on May 13 which is taken as a cogent rebuttal to Dr. Kua’s work ? And Rocky, I mean here’s a guy who thinks that the Sarawak Report is part of the Jewish conspiracy to rule the world by proxy….and he even references Mahathir, oh my.

  8. “Najib had no clue what really happen to 1MDB money” Nora.

    Perhaps you are right, Nora.
    He’s the type of macro-manager that sees the forest without noticing the trees nor the fauna. He’s known to utter monomaniacal statements like “Golf with my buddy..!” – irregardless of the circumstances. Whether in Hawaii, Almaty or Sarawak.

    While he might not know ‘exactly’ where the money has gone, he sure has a mighty huge ‘inheritance’ – which even his brothers deny. It’s like dipping into a pie without bothering about it’s ingredients. I could think of nastier metaphors, but i’d rather not.

    Besides not being on the ball, he’s obviously like the skin of an ever expanding balloon. Big Mama is expensive to maintain, i guess.

  9. just like george bush once said “…. either you’re on our side or on their sides…” Technically speaking , those imbecilic team of cabinet ministers should be branded as “Flibbertiggibetts Spesies of the 21st Century”. NATION AT RISK.

  10. Sometime 3 years ago, I went with my sister who is a good/close friend of Tan Sri Izmee ( then Dato Sri Paduka ) n met him at his office, I was really pissed off for the way they distributed the zakat money that was conveyed to me ( with evidences), I ask him when he led me to our meeting room, I ask him is there any camera or listening device in here, he says it’s safe, so right after that I let go my full steam and gave him a very big piece of my displeasure,he was actually taken aback, but promised to change the system of awarding those zakat monies,( which he actuially did, 2 years later ) then I told him that someone was acting on Rosmah’s directive to acquire 150 blocks of IPO share being floated by my bro-in-law ( Indonesian’s ABM Coal ) and that after a few negotiations, Muki Hamami, my Bro-in-law, decieded with his board to allow only 2 blocks ( 100 million shares to Rosmah ) saying coz his wife is Malaysian, but that didn’t stop her from wanting another block ( 50 million shares ) so I ask, who went to Kuwait and form an investment company call Kuwait International Investment Co to reapply those block of extra shares, well he confessed that he was the guy that went to form the company n subsequently applied those last block, Muki told me later, I have always wondered whether TH money or 1MDB’s money was involved, still haven’t got the answer, then he ask me whether the company was doing well, that time it was, then the coal crunch came, n it’s slow mo now.Muki once told me that Rosmah’s business reach are like the tentacles of an octopus, sucking everything with it’s suction cups, here in Malaysia and everywhere in the world, 1 day I will tell you a different story. 1 at a time ,my Brother-in- Arms/Thoughts.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.