6 thoughts on “1MDB is in default

  1. Malusia bankrupt? “Technically” and legally, yes. But there are mitigating factors when it comes to these blokes, Mathias.

    ‘Kemaluan yang amat besaq’, can take two meanings. The Amat Jantan PASUMNOb blokes take it literally, that’s why they prefer polygamy, sometimes even to the extent of statutory rape.. ‘Sama sama suka’ sort of rubbish.

    To the MelayUMNOb, being bankrupt is a badge of honor, hubris and honesty (i.e the other guy didn’t pay his dues). The PASUMNOb Malay spells it as ‘Bankrap’ – the bank is a rapping machine. It’s phonetically related to ‘Kurap’ (as in kucing kurap) which is an unsightly itch – unlike us morally depraved, irresponsible kurap free pendatang dogs – who are cheek in jowl with the Kutty.

    Since you mentioned Taikor PRC somewhere, let me reassure you that the CCC have seen through the dastardly complicity, degeneracy and venality that resides in Jibros and Zahood. Their dismal opinion of these blokes is due in part to the FUBAR in TRX, the probable hocking off of a large portion of the Port Klang expansion to a shoddy, pokkai Indian entity and the horrendous meddling/corruption of State Development Corps-Royalties in infrastructure and other OBOR amenities. As a result, Xi Taikor ain’t coming for a tete-a-tete with the Bugis Pirate in October. Clap-Clap!

    The Gua-Lu-Gua Tolongism aphorism just doesn’t cut ice with those Commie-SOEs’.

    Anyway, i honestly pity Liow and Mah, who are trying so hard to do the right thing – only to burrow themselves deeper into UMNOb crotches. Haha.. Scabies like.

  2. 1MDB can afford Chubby boy,Jho Low to buy a yacht for 250 million,pay millions to STD infected Paris Hilton to rub bodies and now cannot pay millions to settle a debt?

  3. Tony Pua is chasing the right smoke.. The payment was suppose to come from the sale of “units” which are dubious in the first place. BUT even if they manage to shuffle the “units” to a related parties, how are they going to transfer the funds without anyone being charged for money laundering? Najib’s “only technical” issue is NOT not so only…

  4. The question is WHAT is the “technical” issue with the payment that Najib speaks of. The units are worthless. Even if it can be “bought” by related parties, WHO would process the payment? IPIC is s London listed entity, even accepting the cash knowing the source is dubious is subject to money laundering laws.

    Is the Chinese helping to launder money to pay IPIC in return for ECRL? Why the hurry to do ECRL which are clear money losers when the other MRT lines build out have to be stretched out to years away instead of as fast as the first ones? If ECRL is such a major OBOR project, why Xi will not be showing up, why not wait until Nov supposedly when Xi will show up?

  5. Yo, bigjoe – a few comments:

    1. “The units are worthless.”
    Actually they’ve gone ‘missing’ since BSI S’pore branch where they were deposited was forced to close shop. In other words, the units have the value of ‘oocysts’ – microscopic thick walled spores of parasites.

    2. “Is the Chinese helping to launder money to pay IPIC in return for ECRL?” Actually no. The value of the project came from SPAD and PMO, even before the alignment, EIA and surveying works were completed. The ‘value’ was ascertained by the PRC SOE to be reasonable, considering the scope of works in traversing the Main Range (bridges-tunnels and all that). Profit? Of course. Kickbacks? Yup. But the tranches will be doled out in stages – and they’ve to account for land costs, currency fluctuations and inflationary pressures in their proposal. However, there was no transparency and the UMNOb subcontractors will continue their Ali-Baba ripoffs.

    3. “why not wait until Nov supposedly when Xi will show up?”
    The CCC is having their GA during that time. Xi Taikor can’t be bothered with bunga-raya and kompang displays.

    The idea of ECRL is actually geo-strategically and economically sound from the PRC perspective as it will avoid the bottle necks in the Straits of Malacca. If the OBOR initiative goes on (if only in ASEAN), this will ultimately connect to S.China though Thailand-Laos with accessory route thru Cambodia and Vietnam. PRC is acquiring 2 ports in Indonesia. Singapore? Who knows..

    The Kuantan-Port Klang rail connectivity is mainly for transhipment of heavy goods, containers and materiel. Kuantan Port Consortium is a JV between IJM and Beibu Gulf Holding (H.K) and the sister port is in Qinzhou.

    Expansion of Port Klang is basically on Pulau Indah-Carey and under MMC (Northport)-Sime Darby. There are rumors that the humongous China Merchant Group which was supposed to co-develop aren’t interested anymore cuz the scope of works are not viable. Perhaps, our heroes will be able to obtain oocysts somehow? But they are still negotiating.

    Basically all the worries about the economic viability of ECRL is ‘fake news’ because it is not primarily meant only for passenger trains but for goods. It has a multiplier effect of industrializing and commercializing the moribund East Coast of the Peninsula. However, we should still question the costs.

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