1MDB Buck passes on to Malaysian Taxpayers


May 5, 2016

MALAYSIA: Irresponsible Prime Minister Najib Razak passes 1MDB Buck to Malaysian Taxpayers

by Dr. Mahathir Mohamad

1MDB is not a wealth fund as it is touted to be. Except for the one million Ringgit contributed by the Government, the rest of the RM 42,000,000,000 (forty-two thousand million) is borrowed money. Borrowed money cannot be regarded or classified a wealth. It is a liability which imposes on 1MDB or in case of its failure the Government to repay the interest and the principal. The sum is so huge that if the Government cannot pay them it could be bankrupted. This has happened to Greece.

The possibility of this happening imposes a heavy responsibility on the management of 1MDB and oversight by the Government. And very quickly it became clear that the executives and Board of 1MDB did not take their responsibilities seriously.

Shahrol, the CEO of 1MDB, borrowed five billion Ringgit from the banks without the knowledge and approval of the Board of Directors. The borrowings were at high interest rates. In one case Goldman Sachs was paid a 10% commission for raising a loan with a 5.9% interest. This means that 1MDB gets only 90% of the loan but has to pay interest on 100%. It is the same with the principal.

The Former CEO of 1MDB– The Probable Scapegoat

The money was apparently used to buy power plants at well over the market price. The licences for some of the plants were due to expire. If the purchases were delayed until the expiration of the licences the prices would be for less than market price. But the management seemed not to care about getting the best prices. As a result when the plants were sold to the Chinese, 1MDB suffered a loss of more than one billion Ringgit. This is the 1MDB style of doing business.

There are two other cases where the CEO Shahrol had acted without the approval of the Directors of 1MDB. He entered into a joint venture (JV) with Petro Saudi before a proper and intensive due diligence was carried out. Then he invested USD 1 billion in the JV also without approval of the Board.

The investment was so big that it demands for thorough and extensive due diligence before it could request for approval by the Board of Directors. The CEO really has no authority to invest such a huge amount. But this was what he did.

It is unthinkable that on three occasions the CEO, Shahrol, would act without following the rules of the company. In the memorandum of the company Section 117 states that all the affairs of the company must be approved by the Advisor of 1MDB, i.e. by Dato’ Seri Najib, the Prime Minister and Minister of Finance.

While Shahrol may be brave enough to act without the Board’s approval, it is unthinkable that he would act without Najib’s approval. The responsibility for the three actions by Shahrol must have been made after, or on the instruction of Najib, the company’s Advisor. If not he would have been scolded and probably sacked by Najib.

Then 1MDB was unable to pay interest of two billion Ringgit on the loans. It had to borrow in order to pay. The borrowings have thus increased to RM 50 billion due probably to subsequent borrowings. This increase in the amount of borrowings is recorded in the PAC report.

Then it was reported that Najib had 681 million USD, equal to 2.6 billion Malaysian Ringgit in his personal and secret account in Ambank. No Prime Minister of Malaysia should have so much money in his own account. He should reject any such gift. If it is not a crime, it is morally wrong.

At first Dato’ Seri Najib denied the truth of the report. He said he could not be so stupid as to put the money in his account. His stooges all echoed his words.Then he admitted that he did have the 2.6 billion Ringgit in his account but it was a gift. Then he explained that it was a donation from an Arab for his actions against I.S. and his interest in Islam.Then the Arab became a prince and subsequently the late King of Saudi Arabia. What is next, only God knows.

None of his explanation can be believed. No one would give this huge amount to anyone even if he had done something for Islam or for any other cause. The belief is that the money came from 1MDB, the only source of such sums accessible to Najib. He denies, of course, but he has no documentary evidence to prove the money is not from 1MDB.

Then IPIC which was appointed as guarantor for the loans for 1MDB made a statement to the authorities in London that a sum of 1.7 billion USD which was due to it had not been paid by 1MDB. It therefore refused to pay the USD50 million interests due on the loan taken by 1MDB.

The Penang Born Crook Extraordinaire

1MDB said it had paid the money to a subsidiary of IPIC named Aabar PJS Ltd (British Virgin Islands)..IPIC says that Aabar PJS(BVI) is not an IPIC company although it has a company by almost the same name i.e. Aabar PJS Ltd. This company had received no payment from 1MDB. IPIC implied that the company the 1MDB paid to was a false company.

Attorney for the Southern District of New York, who is investigating 1MDB money laundering activities

There was a suggestion of fraud and Arul the CEO of 1MDB admitted that it may have paid to the wrong company. But 1MDB insist that IPIC should pay the USD50 million interests as it was the guarantor of the loan. 1MDB would not pay.

A guarantor could be obliged to pay if 1MDB was really incapable of paying. But a guarantor is not obliged to pay simply because 1MDB refused to pay. Besides IPIC as guarantor had not been paid the USD1.7 billion which was due.

As both 1MDB and IPIC would not pay the interest on the loans, there would be a default. This will cross default other loans taken by 1MDB. Since 1MDB is a fully-owned Government company the defaults will affect the Government’s credit-worthiness. The Government may not be able to borrow any more in the market.

The Government will have financial deficits which may lead to bankruptcy if the loans are not serviced and the principal paid.In the meantime the 2.6 billion Ringgit in Najib’s account were said to be moved into Singapore banks. Singapore was said to have frozen accounts of several people pending investigations for money laundering. Though no mention was made that the frozen accounts belong to Najib, as a financial center Singapore cannot be seen to cover up an obvious case of money laundering.

Bank Negara had made a report to the Attorney General presumably on Najib’s money in Ambank. But the Attorney-General (AG). dismissed the report, claiming that there was no wrongdoing by the Prime Minister. Similarly the report by MACC was also dismissed by the AG. The contents of those reports were made official secrets to prevent public scrutiny. But the OSA is not meant to cover up possible crimes.

RM42 Billion is no Peanuts

39 thoughts on “1MDB Buck passes on to Malaysian Taxpayers

  1. Say whatever we like, Che Det is right on 1MDB. Najib is guilty as hell. Unfortunately, the incumbent Premier has inherited the system of unaccountable and corrupt system of public management from his predecessor twice removed. For this reason, Najib is above the law, at least for the time being. He is such a selfish person who even uses his own brother, Banker Nazir Razak to do his bidding like he did with his architect brother on the PI Bala statutory declaration volte face. The next thing you know even his mother Tun Rahah could be implicated in his shaddy and illegal activities.

    Let us hope the US Attorney-General can indict his stepson Riza Aziz on charges of money laundering. That will rattle Rosmah Mansor and make her realise that it is better for her to persuade her husband to make a deal with a potential successor to avoid being in the slammer for God alone Knows how long.

    As far as ethics (or morality) is concerned, Che Det is not qualified to pass any moral judgement on the present Prime Minister. They are two of a kind. The student, however, has done better than the Master on defrauding taxpayers. –Din Merican

  2. Lots of people has been convicted and send to jail for much less evidence so the issue is not Najib’s criminality. The issue is how could so many UMNO leaders participate in the lie, so few willing to stand up. Even more important, how can Hadi’s PAS, including the Ulamas be complicit with the imorality and is it PAS grassroot have not risen even on par with the unlikely rebels in UMNO of Mahathir, Muhiyiddin, Shafie Apdal?

    Like it or not Najib singularly discredit Malay leadership, Malay society including their claims of their religion.

  3. On the spot, Din .

    Not condoning Najib’s 1MDB or anyone, and among the countless scandalous losses, TDM’s government had paid Tajuddin 8 billion Ringgit for a price of 4 per MAS share, 100% more.

    The people had paid hundreds of Billions over past 40 years for all that and had suffered from it . For the people, doing nothing is not an option. Those irresponsible rogue leaders must be held accountable.

  4. The Gomen have taken so much of the people’s money that it is time for our brothers and sisters in Sarawak to show their gomen the door. Miserable life have become more miserable with the GST and the resulting high cost of living. Kangkong price had doubled since a year ago.
    When is Malaysia’s very own Macbeth going to follow Frank Sinatra’s MY WAY and the Fat Lady starting to sing?

  5. If any of the present and past leaders has even 1% integrity of LKY, this country with its rubber/oil palm/ oil and gas resources, saves money to build up oil wealth heritage fund like the Norwegians, but most important of all , builds up intellectual prowess of its 30 million ppl, Malaysia would have been such a rich country.

  6. The 1PM-cum-1Finance Minister is shamelessly engaging in open
    vote buying in Sarawak.

    Will outrageous gerrymandering of electoral boundaries, shameless vote-buying and forbidding West Malaysian Opposition politicians from entering Sarawak, work to the favour of the kleptocrats of UMNO Baru-BN ?

  7. Even if Malaysia is to lose all borrowed RM 42,000,000,000, each citizen will lose only RM1400. This is not a loss that will cause Malaysia to go bankrupt and people to run out of food. In other words, the loss is not going to be the cause for a revolution. If Najib wants to resign on his own, then that would be honorable thing to do — but he is not a Japanese, but a Bugis. Since he decides to stay, there are only two constitutional routes to remove him: no confident votes in parliament and the next election. When a nation is at stake as the choice is between constitutional means or unconstitutional means to remove the head of state, I will hold my nose to support Najib to fight Dr. Mahathir and urge him to do these for the benefit of future generations:

    1) Najib could lead Cabinet members to pay respect to Tun Salleh Abas at his grave, expressing governmental level apology to the former Supreme Court’s chief justice. This visit will act like “cannon-ball” explosion and cause Dr.Mahathir running for cover.

    2) In order to get Chinese Malaysians and East Malaysians to Najib side, Najib could also lead Cabinet members to pay respect to former Supreme Court judge Datuk George Seah at his grave, expressing not only governmental level apology but also his desire to start a Royal commission to look into the possibility of clearing the name of someone wronged. Chinese Malaysians care about reputation, even for the deaths.

    3) Start the legislative process that will eventually make judge appointment to be a live-long appointment, with no retirement date and cannot be fired.

    All the above will cost Najib very little in near future, but could wipe out TDM and most opposition. His approval rating will go up, and people will forgive him for that 1MDB’s “business loses”.
    ________________
    You can’t serious. Even if it is RM1,400 per head, that is a lot of money for Malaysians to bear. Maybe not to people like you who cannot think beyond averages. That amount of money means quite a number of good books to me. But then why should we be bear that burden. Just to enable a crook like Najib to do as he pleases with our scarce resources? He should, as I have repeatedly said, be in jail and die there for defrauding our country.–Din Merican

  8. Quote:- “Even if Malaysia is to lose all borrowed RM 42,000,000,000, each citizen will lose only RM1400. This is not a loss that will cause Malaysia to go bankrupt and people to run out of food”

    LOL So therefore no real harm was done to Malaysia or its people, and Najib can just carry on being PM for as long as he wins elections by fair means or foul?

    Let’s explore this line of logic with situations ordinary Malaysians can understand since not every Malaysian knows how many zeros there are in a billion or that for 30 million Malaysians to lose a mere RM1,400/- each is nothing to lose sleep over.

    Let’s say a millionaire who earns, say, RM45,000/- a month was robbed of his watch which costs, say, RM2,000/- The robber was caught but the police decides not to charge him giving the reason that the watch costs only 4.4% of the victim’s monthly salary, which will definitely not bankrupt him and causing him to starve, meaning no serious harm or lose was done resulting from the robbery, and better still if the watch was recovered and returned to the millionaire victim.

    (BTW, the police will also save a ton of paper work if there are 100 such cases per year nation wide)

    I wonder how the victim would react to such “reasoning” by the police. Perhaps our Royal Malaysian Police did reason that since each Malaysian citizen, (which of course include policemen as well), loses only RM1,400/-, this is not an adequate reason to go after Najib or indeed any corrupt person? I could think of a small time politician corruptly accepting say 1 million Ringgit in kickbacks. In this case each Malaysian citizen loses only RM30/- Why waste time and resources over such miniscule loses?

    Let’s take another case. A woman was raped. She happens not to be a virgin. The police “reasons” that since she is already not a virgin, no real harm was done and let the rapist go free?

  9. An average of “only RM 1400.” The green fee for a round of golf at Pebble Beach costs more than twice that amount. Of course it is not a big deal for those who can afford. But how many Malaysians can afford to play golf at a course like Pebble Beach? Playing with averages, I know mixing hot water with cold water would give me the cozy warm water. If one puts a foot into boiling hot water and the other foot into icy cold water, would he get the cozy feeling of comfort, warmth, and relaxation? Why must the tax-payers be asked to bail out 1MDB when Najib and the board of directors hold no responsibilities? Najib and the board of directors should be put in jail for negligence, if not corruption.

  10. $1400 per head. Couple with earning below $3000 plus six schooling children become eggs heads not eight. Jip jip huray will be laughing all the way to the bank.

  11. ‘..I will hold my nose to support Najib to fight..’ Shiou

    Moral relativism and ethical egoism destroys humanity. Why were the Nazis, Stalin, Mao and other genocidal maniacs ‘Evil’? Because they could Institutionalize it. Jibros has institutionalized Industrial Scale Corruption and has tried desperately to institutionalized ‘The Other’ (together with his beloved Adviser, Hadi) without much success..

    Spitting at Octo by ‘supporting’ Jibros is the height of Hypocrisy. The difference between Octo and them is that they Borrowed Funds from International Ah-Longs in the Name of a Sovereign Fund, to fuel their own greed and self interests. Octo might have started the process, but to perpetuate it in such a cynical level is absolutely atrocious. An atrocity, if you will.

    In case, ‘Evil’ is misunderstood, perhaps those defenders of the indefensible should go to: Jordan Peterson’s: Evil and Tragedy, here: .https://www.youtube.com/watch?v=uM25byj81Jc

    Btw, for Din’s students: Buddhist Economics and Ethics (Thai-style), by Prof Donald Swearer:
    .https://www.youtube.com/watch?v=Bc08N4Th8YE

    Loosebrain, why are you looking for me – precisely?
    ______________
    CLF,

    Swearer is a conventional economist. He is not an authority on Buddhism. Sustainable development is Buddhist economics. Nature and man must exist in harmony with each other. I notice that Loess74 has a fixation on a character he calls K…and now you. –Din Merican

  12. Wayne & LaMoy,

    RM 1400 is considered a big amount (or small amount) when it is compared to something or under some context. Under my original post, the context is if RM 1400/person or RM 40,000,000,000 will result into an economic hardship that is severe enough to trigger for a revolution. The answer is NO.

    When there is no chance of a revolution, the head of executive can be brought down only with two constitutional means: no confidence vote or election. He cannot be prosecuted with law while he is in office because AG is reporting to him; to do otherwise is a coup – a revolution. Head of each branch of government cannot be brought down (but can be checked) without destroying the separation of powers. That is how modern states work.

    I hope no one here is suggesting using Islamic divine law or Justice Pao to execute justice. We have a modern state, don’t we?

  13. Err.. Din,
    Prof Swearer was the Distinguished Visiting Prof of Buddhist Studies, Harvard Divinity School and Director of the Center for Study of World Religions (2004-2010) – in addition to his many academic positions. He has written several books Buddhism, especially of the Theravada denomination prevalent in S. E. Asia. See here:
    http://www.uwest.edu/site/index.php?option=com_content&view=article&id=711:dr-donald-k-swearer&catid=67:religious-studies-faculty&Itemid=332

    His work is mainly in N.E. Thailand, but applies holistically throughout. Watch the vid – interesting insights on how the Middle Way Ethics handle modernity and rabid consumerism.

    E.F. Schumacher was the economist who first coined ‘Buddhist Economics’, but he used it tongue in cheek – and admitted that if he had used ‘Christian’ Economics – no one would bother reading his book. Yes, ‘Small is Beautiful’.
    _______________
    I am not convinced by his credentials, err…. Neither are my Cambodian colleagues, friends and students. –Din Merican

  14. I have mentioned it before. Sukuk bond is denominated in Ringgit. It is to be paid in Ringgit. Assuming the proverbial wisdom that the nation lacks the conscience to be responsible debt issuer, those issued sukuk bond are expenditure that went no where. The nation would turn out having to print more ringgit to inflate the problem away, allowing the next generation to pay for the sin of this generation. Wait… can we still get to print more money with this 1MDB? 1MDB not a big deal?

    Wait till we see what is behind all of the sukuk bond. Wait till we dare look into how much have of these sukuk bond we have issued. Wait till we dare to see why some banks have refused to originate sukuk. Wait till we see why 1MDB has to pay 10% origination fees.

    My heart aches. Millenials.. sorry we gen X have failed to secure you a better future. sorry we gen X have failed to say no to a few baby boomer princling.

  15. /// 1MDB Buck passes on to Malaysian Taxpayers ///

    If only that were true – then the bucks go back to the people where they belong.
    The problem is that the 1MDB bucks pass onto Najib – all billions of them.

  16. Only the human mind can argue for the pros and cons of having a handle-bar mustache and drinking thick Sup Kambing. Ayam-Kambing-Beg.

  17. “… 1400/person or RM 40,000,000,000 … an economic hardship that is severe enough to trigger for a revolution. …”

    Shiou, your simplified logic is flawed. The reason why M’sians would not be involved in a revolution is it is just not the M’sian way – thanks to the tolerance our society has developed. You can be assured that even if more hardship is endured by the poor, there will not be a revolution. Sure, they may take to the streets but social disorder will not be the order of the day.

  18. AKB. In the Grand Affairs of the State the full impact of policies will only be felt 10 years down the road.

  19. Could the new man to take up the ill be the back
    door old man KU LI some said he has agreed in
    secret meetings ?. His sudden turn around seem
    very odd.

  20. Quote:- “He cannot be prosecuted with law while he is in office because AG is reporting to him; to do otherwise is a coup – a revolution”

    Really?

    When the “fake” corruption charge against Najib purportedly prepared by the late Kevin Morais, (who worked in the office of the then AG, Gani Patel), “appeared”, no one, no constitutional lawyer, not even the present AG said it was “unconstitutional” or that it amounted to a “coup — a revolution”

    All they said was it was a fake or that it did not exist. If it actually amounted to a “coup — a revolution” by the previous AG, man, Najib need not sack Gani Patel citing “health” reasons.

    Whether the charge sheet existed or not, Gani Patel would have no choice but to immediately deny its existence because, (if Shiou was right that it amounted to a “coup — a revolution”), it amounted to him, Gani Patel, starting a “coup — a revolution” against the PM.

    Up to this day, Gani Patel has not denied or affirmed the existence of the charge sheet. So according to Shiou, Gani Patel’s “coup — revolution” is still on?

  21. C. S. Lewis once said: “You can’t get second things by putting them first; you can get second things only by putting first things first.”

    He further said: “From which it would follow the question, What is the first thing? The only reply I can offer here is that if we do not know, then the first and only truly practical thing is to set about finding out.”

    I put forward the proposition that “the first thing” in a modern state is supporting and maintaining 3 independent and co-equal governmental branches, upon which “the second things” such as reduction of corruption can be achieved. Not another way around.

    History tells us we have not achieved “bersih, cerkap, dan amanah” after Dr. Mahathir setup a tribunal to bring down the head of judiciary branch 28 years ago. Of the same 1988, Brazil set out to make their judges appointment to be lifetime appointment; Today, 28 years later, Brazil judiciary is capable of bringing corruption charges to one-third of elected officials.

    C. S. Lewis said the following about the first thing and second thing: “The longer I looked into it the more I came to suspect that I was perceiving a universal law. … The woman who makes a dog the centre her life loses, in the end, not only her human usefulness and dignity but even the proper pleasure of dog-keeping. The man who makes alcohol his chief good loses not only his job but his palate and all power of enjoying the earlier (and only pleasurable) levels of intoxication….Of course this law has been discovered before, but it will stand re-discovery. It may be stated as follows: every preference of a small good to a great, or a partial good to a total good, involves the loss of the small or partial good for which the sacrifice was made.”

  22. I have the feeling that I am reading a sermon: “Seek ye first the kingdom of God and all these things will be added unto you.” This is what C.S. Lewis meant to convey.

  23. Shiou, please never quote C.S.Lewis again.

    Never mind the quote does not mean what you think it means, the theological and metaphysical foundations you seem to dismiss or are ignorant of but….

    Ok, let’s break it down and we do not have to drag poor old Lewis into this.

    “I put forward the proposition that “the first thing” in a modern state is supporting and maintaining 3 independent and co-equal governmental branches, upon which “the second things” such as reduction of corruption can be achieved. Not another way around.”

    Ok. Do we have 3 independent and co-equal governmental branches in this country ?

    If we do, than there is very little to argue with. However if we don’t then everything you wrote is complete hogwash.

    Unless by default we should think that every modern state has independent branches EVEN if evidence points otherwise or we should support these so called independent government branches EVEN though we know they are not independent.

    Is this what you are saying ? Which makes your linking to the Lewis quote…well immoral, in my opinion, but that’s just because I like his work.

    “Under my original post, the context is if RM 1400/person or RM 40,000,000,000 will result into an economic hardship that is severe enough to trigger for a revolution. The answer is NO. ”

    I’m not even gonna’ touch this. I mean , really ? REALLY ?

  24. “Ok. Do we have 3 independent and co-equal governmental branches in this country ?

    If we do, than there is very little to argue with. However if we don’t then everything you wrote is complete hogwash,” Conrad,

    What I wrote above is not premised on we already have 3 perfectly independent and perfectly co-equal governmental branches, but only premised on using corruption as a means to bring down the head of executive branch in unconstitutional way will further destroy the separation of power than what it is now. What I wrote also is premised on fighting Dr. Mahathir in the direction of making judges having lifetime appointment, even at the expense of letting go of Najib’s alleged corruption, is moving in the direction of making governmental branches more independent and more co-equal than it is now.

  25. “What I wrote above is not premised on we already have 3 perfectly independent and perfectly co-equal governmental branches, but only premised on using corruption as a means to bring down the head of executive branch in unconstitutional way will further destroy the separation of power than what it is now”

    So in other words what you saying is this :

    “Unless by default we should think that every modern state has independent branches EVEN if evidence points otherwise or we should support these so called independent government branches EVEN though we know they are not independent. ”

    In case you didn’t get the memo, the integrity of the branches of the Malaysian government has already been destroyed. Supporting the Opposition, Mahathir or anyone else who works the System – even if unconstitutional, immoral or illegitimate – is choosing the lesser of two evils and just maybe a possible route to reform.

    By continuing to advocate on behalf on a man – Najib – who has shown no interest in reforming the System and supporting a political party – UMNO – who have no problem operating in a destroyed System, you are in effect assuming an immoral stance.

    Whether this is by design or ignorance , is unknown and probably takes a far greater mind than mine to decipher.

  26. Shiou: I agree with Conrad and say your argument is fallacious. It is crucial to remember that reasoning from facts to conclusions is fundamentally different from reasoning about definitions.

  27. “In case you didn’t get the memo, the integrity of the branches of the Malaysian government has already been destroyed, ” Conrad.

    If you assess that there is nothing left in the integrity of the branches of the Malaysian government, then you certainly is justified to pay no attention to constitution and remaining governance structure. My assessment on the Malaysian government makes me to conclude Malaysia is by far the best nation among all 56 Muslim-majority nations. So, I operate on the assumption no revolution is likely and improvement is tedious and gradual.

  28. “So, I operate on the assumption no revolution is likely and improvement is tedious and gradual.”

    Who here is advocating “revolution” ?

  29. “Who here is advocating “revolution” ?” Conrad.

    All those people who believe in removing head of executive branch through methods other than no confidence vote and election are working to do a coup. A coup directed by a small band of UMNO insiders is the worst type of revolution – a revolution by elites while they tell people it is a law enforcement to fight corruption.

    Of course what I wrote above is premised on we still have political structure that can be repaired. For those people who assess that there is no political structure that are worth repairing should make themselves clear that they want a revolution.

  30. “All those people who believe in removing head of executive branch through methods other than no confidence vote and election are working to do a coup.” – Shiou

    That’s not the definition of revolution. You know this, which is why the term “coup” suddenly crops up. UMNO insiders have always anointed their chosen one, without reference to democratic norms. Political elites everywhere determine the path in most functional and dysfunctional democracies. That’s a reality, I mean you have gone all moist over Harry Paradise, no ?

    “For those people who assess that there is no political structure that are worth repairing should make themselves clear that they want a revolution.”

    Straw man much ? Oh some people think that the political structure has been damaged, some even think damaged beyond repair but this does not mean they advocate revolution. That’s your little straw man.

    No, some folks are advocating, that relying on political cabals to clean up the mess they created for self preservation [which may lead to reform] in the face of a total melt down, is better than doing nothing – which is more or less what you are advocating, what with your sermons on the integrity of institutions, which really does not exist in Malaysia.

  31. To Shiou & Conrad,
    When it comes to more of the same with whatever change being made to the status quo and our back to the wall, well where to we go from here?.Be real!!! Leave academics to the academicians. Sementics will not put food on the table neither will meaningless juggling with words provide milk for babies.

  32. A definition of revolution in the Oxford Dictionary: “A dramatic and wide-reaching change in the way something works or is organized or in people’s ideas about it.” Malaysia started out SNAFU, but then it went all TARFUN under Mahathir. Now, the country is totally FUBAR under Najib. Yes, I am all for a bloodless revolutionary way to tear the present system to the ground and start over from scratch, a Malaysian Malaysia.

  33. Jeffrey, don’t just read but attempt to understand what Shiou and I write before throwing around words like “semantics”. If you did, you would realize that Shiou and I have very different ideas on where we go from here. You of course have the option of choosing which ideas appeal to you or failing which come up with your own.

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