`


THERE IS NO GOD EXCEPT ALLAH
read:
MALAYSIA Tanah Tumpah Darahku

LOVE MALAYSIA!!!


 


Thursday, March 12, 2015

Najib 'sycophants' rush to deny another RM900 mil to be injected into 1MDB

An Umno leader has dismissed claims that Prime Minister Najib Abdul Razak had disclosed that another RM900 million will be injected into 1Malaysia Development Berhad (1MDB) during a meeting with division chiefs.
He was responding to PKR vice-president Rafizi Ramli who said he heard this from an Umno division chief who attended Sunday’s closed-door meeting.
However, the meeting’s organiser and Cheras Umno division head Syed Ali Alhabshee described the allegation as "another opposition fiction".
He also dared Rafizi to disclose his source in order to validate his claim and not to hide behind an anonymous source.
"I challenge him to name the Umno division chief. I deny this happened," he told Malaysiakini.
"There was no such discussion (on the fresh injection of funds into the ailing firm). If you claim it was a division leader who told you, then tell us who," he said.
'I don't know how to lie'
According to Syed Ali, this is the problem with the opposition, which the Umno man alleged to be fond of concocting stories.
"Rafizi is creating a story. The opposition does that, just like Sept 16 (Anwar Ibrahim’s claim of toppling the BN government in the aftermath of the 2008 polls).
"They are good at wayang (charades). They think everyone is stupid. I will tell you the truth, nothing else. I don’t know how to lie,” he added.
Meanwhile, DAP's Petaling Jaya Utara MP Tony Pua cited a report in today’s Singapore Business Times, which said the Malaysian government extended a nearly RM1 billion loan to 1MDB amid the controversies surrounding the fund. - M'kini

2 comments:

  1. Najib 'sycophants' rush to deny another RM900 mil to be injected into 1MDB

    Just to share this...

    March 12, 2015 - "KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak has revealed that the US$1.103 billion balance claimed by 1Malaysia Development Bhd (1MDB) from its investments in Cayman Islands is being kept in the form of cash in a bank in Singapore.

    “The balance of 1MDB’s investment funds managed by Cayman Monetary Authority of US$1.103 billion has been redeemed in the form of cash and is still kept in US dollar denominated currency at BSI Bank Ltd Singapore (BSI Singapore),” Najib who is also the finance minister and chairman of 1MDB’s board of advisers, said in his written reply to a question by Petaling Jaya Utara Member of Parliament Tony Pua that was obtained from Parliament yesterday.

    “The decision to use a bank in Singapore was to facilitate withdrawal transactions since approval is needed from Bank Negara Malaysia (BNM) for every transaction conducted above RM50 million,” he said.

    BSI Singapore is a wholly-owned subsidiary of BSI AG, Lugano, Switzerland...

    At a press conference in the Parliament lobby yesterday, Pua questioned why 1MDB was not able to use cash available in the Singapore bank to service its debt, as well as a Singapore news report that the federal government has injected nearly RM1 billion into the company.

    “It means that 1MDB does not have money to pay interest generated by its debts ... don’t [even] talk about its RM42 billion debt, they can’t even pay the interest of the loan and needed the government’s help for this.

    “There is something very fishy about the money in BSI Singapore. Is it encumbered, tied down, got cash but cannot take, [because it’s tied] to a particular issue that we don’t know about?” he asked....

    The Singapore Business Times reported yesterday that RM970 million was issued to 1MDB after the Cabinet met two weeks ago on a proposed cash injection.

    Pua also questioned the legitimacy for the government to keep US$1.103 billion claimed by 1MDB in a bank in Singapore.

    There is no reason to keep the money in Singapore, unless 1MDB is trying to evade Bank Negara Malaysia, said Pua.

    “It is intentional and they are trying to avoid BNM regulations, that is why they are keeping it offshore.

    “I cannot understand why the government’s wholly-owned investment fund that has the finance minister as its adviser would have problems getting approvals from BNM?” he asked.

    PKR vice-president Rafizi Ramli, who was also present at the media briefing, claimed yesterday that Umno division leaders were briefed on an injection of RM900 million of fresh cash into debt-ridden 1MDB at a meeting on March 8.

    “It was presented during the meeting that 1MDB had cash flow problems and that the government had agreed to inject RM900 million,” he said.

    According to the informant, said Rafizi, some RM300 million of the RM900 million have already been channelled to 1MDB, which is wholly-owned by the Finance Ministry.

    It was reported that Najib, who is Umno president to the more than 154 divisional chiefs, had attended the meeting held at the party’s headquarters.

    Rafizi said he was puzzled that the financial issues faced by 1MDB were brought up by the government during the meeting and also in the Cabinet recently.

    He added that any speculation or reports of abuse must be investigated.

    Rafizi also asked Najib to reveal the minutes of the Cabinet meeting where the injection of funds into 1MDB was discussed.

    On Feb 23, The Edge Financial Daily reported that 1MDB may require a cash injection of as much as RM3 billion from the Finance Ministry to settle its RM2 billion debt to banks, but this was later rejected by the Cabinet…”

    March 12, 2015 Najib: 1MDB moved US$1.1b Cayman funds to S’pore bank - http://www.theedgemarkets.com/my/article/najib-1mdb-moved-us11b-cayman-funds-s%E2%80%99pore-bank

    Cont'd Part 2...

    ReplyDelete
  2. Part 2...

    March 12, 2015 - KUALA LUMPUR: Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz has reaffirmed that the country’s banking system is resilient, and will not collapse in the event of loan defaults by highly leveraged entities such as 1Malaysia Development Bhd (1MDB).

    The governor said the weakening ringgit, which was trading at 3.7040 against the US dollar yesterday, was not a result of concerns about any potential default by 1MDB on its debt obligations…

    March 12, 2015 - ‘Banking system resilient in event of 1MDB default’ - http://www.theedgemarkets.com/en/article/%E2%80%98banking-system-resilient-event-1mdb-default%E2%80%99

    "...Malaysia’s proportion of external debt to gross domestic product is 54.6 per cent, the highest among 13 Asian emerging markets tracked by Bloomberg after Sri Lanka and level with Pakistan..."

    March 09, 2015 - Tougher to defend ringgit slide on 1MDB woes - http://www.freemalaysiatoday.com/category/nation/2015/03/09/tougher-to-defend-ringgit-slide-on-1mdb-woes/

    Could it end up like...

    Enron - "Bankruptcy" scandal,,,?

    "There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues.

    I think I can honestly say that the company is probably in the strongest and best shape that it has probably ever been in." - Kenneth Lay answering an analyst's question on August 14, 2001.[82]

    Enron shareholders filed a $40 billion lawsuit after the company's stock price, which achieved a high of US$90.75 per share in mid-2000, plummeted to less than $1 by the end of November 2001.[2]

    Enron's stock price (former NYSE ticker symbol: ENE) from August 23, 2000 ($90) to January 11, 2002 ($0.12). As a result of the decrease of the stock price, shareholders lost nearly $11 billion.[3]

    http://en.wikipedia.org/wiki/Enron_scandal

    110315 RECKLESS SPENDING: Malaysia’s external debt tripled to RM740 bil last year -
    http://malaysia-chronicle.com/index.php?option=com_k2&view=item&id=474311:reckless-spending-malaysia%E2%80%99s-external-debt-tripled-to-rm740-bil-last-year&Itemid=2#axzz3U6qY3WxC

    Btw, why Deloitte...?

    Nizar Razak, 36, a partner in Deloitte…

    Mohd Nizar, is a management consultant in Deloitte and Touche Malaysia, while Putri Norlisa Najib is lawyer. Both went to the same university as their father i.e. University of Nottingham. Puteri Norlisa just returned to Malaysia three months ago after spending 10 years studying and working in England, the last three years as a solicitor at the Eversheds in London…

    http://syokkahwin.com/blog/2009/04/04/mohd-nizar-putri-norlisa-najib-anak-pm/

    http://www2.hmetro.com.my/articles/Inginberbaktisepertibapa/Umno/article_html

    You be the judge.

    Cheers.

    ReplyDelete

Note: Only a member of this blog may post a comment.