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Sunday, March 15, 2015

1MDB THE FINAL STRAW: BN supporters jump from Najib's sinking ship

A DAP lawmaker today claimed that the controversies surrounding 1Malaysia Development Berhad (1MDB) is convincing strong BN supporters to switch to the Pakatan camp.
"1MDB is hitting a raw nerve. That day, when I was in a shopping mall, I was approached by two men who told me they started supporting Pakatan three weeks ago, and asked me to keep up my job (in exposing 1MDB dealings)," said Petaling Jaya Utara MP Tony Pua in a forum on the state-owned investment arm in Petaling Jaya today.
The forum itself, titled '1MDB: The Ultimate Low-Down', was attended by over 700 people in a packed hall, resulting in many sitting down on the floor to listen to the panelists- namely Pua and PKR secretary general Rafizi Ramli.
Pua also said that senior ministers had begun confiding in opposition lawmakers that they no longer back Prime Minister Najib Abdul Razak's leadership.
"In fact, some of them are beginning to request information from me regarding 1MDB," Pua said.
Rafizi
Pua's views was echoed by Rafizi, who said that the controversy surrounding RM4 billion loan that was taken by 1MDB's former subsidiary SRC International from the pension fund (KWAP) in 2011, with no confirmation of where the money went to date - could sway the opinion of the Malays regarding the government.
"When I speak to my grandmother, she tells me she always votes for BN because they pay her pension. Now, I'm going to tell her, they have taken even your pension money," Rafizi said, saying that many pensioners might look at the political situation differently if they realised that the pension funds are not accounted for.
Both the MPs, who are vocal critics of 1MDB, also raised doubts on whether 1MDB could be rescued by the government's efforts as it sits on a RM42 billion debt.
Pua said that 1MDB's energy arm and land, if sold, could fetch over RM20 billion- but still would not be enough to pay off the RM42 billion debts.
"Where is the rest of the money going to come from?" Pua asked.
Rafizi meanwhile said that he believes up to RM15 billion in public funds "had already been lost" through 1MDB's dealings, and the goal now is to ensure that no more public funds are used for 1MDB.
Clare Rewcastle Brown
"I estimate between RM10 billion and RM15 billion has already been lost. We can't do anything about it. The money won't come back," he said.
The forum also featured a video conference appearance by whistleblower website Sarawak Report's founder and editor Clare Rewcastle Brown , who asked Malaysia to pursue regulators to take action against the international players who had helped push through the controversial 1MDB deals.
"You are talking about professional bankers and lawyers who have part of this process. Malaysia should pursue regulators to take action against these professionals who facilitated corruption, essentially," she said. - M'kini

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