WHO’S BEHIND THE CRISIS

1. Prime Minister says Dr M (that’s me) is behind the crisis.

2. I will admit that I am behind the “crisis”. I am behind it because there is a climate of fear in this country.

3. Lots of people know about the loss of billions of Ringgit by 1MDB. These people are in a position to know because they have seen evidence of this loss. But they are afraid because of actions which the Government can take against them. They may lose their jobs, or contracts or expectations of titles etc.

4. So they come to tell me. And they ask me to “do something”. For a long time I desisted because I know if I reveal the wrong doings of 1MDB, it will lead to the Prime Minister being questioned.

5. I had tried to do it privately. But there was no result. I told the Prime Minister I no longer supported him. No result.

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HOW 1MDB MONEY WAS INVESTED

1. I am intrigued by the ability of 1MDB to invest 42 billion Ringgit in so many businesses. Really I should be fully satisfied with how 1MDB expended the huge loan that it borrowed.

2. But unfortunately I am not. I am not, because the information came from the current CEO, Arul Kanda Kandasamy. And Arul has been caught lying quite a number of times.

3. Almost as soon as he took over management of 1MDB he announced that the money from Cayman’s Island has been returned. He said clearly and openly that he saw the cash i.e. one billion dollars in cash. Then he said it was statements. What are the statements? Anyway in the end the bank said no cash and only documents were deposited in it and the documents carried false signatures.

4. He must have told the Prime Minister about this fantastic pile of dollar notes so the Prime Minister answered the question in Parliament that the cash is in the bank in Singapore. It cannot be brought back because Bank Negara asks too many questions. The Finance Minister must approve or disapprove all Bank Negara strictures or approvals.

5. Then the banks denied that the cash is in the bank. Embarrassing. The vision has disappeared. No. It is not cash. It is documents. No, it is units. What units? Dunno. Which bank? Not clear. The mystery deepens.

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LEGACY

1. A friend visited me in my office recently. I had helped him a lot when I was PM not with money or jobs, but by smoothening bureaucratic processes in the way of his projects. As a result he became a very successful educationist and was able to expand overseas. I regarded my help as essential as the bureaucrats can be unnecessarily dilatory or even obstructive. I do this for everyone and they are all very grateful. My friend was especially grateful.

2. Off and on he would drop in my office to discuss current issues. He worried about Najib’s Government policies and performance. He urged me to do something.

3. But when he dropped in this time he seemed somewhat changed.

4. He kept on urging me not to “attack” the PM. I explained why I am doing so. But he persisted in urging me to desist from my efforts at questioning the leadership regarding the current financial scandal.

5. He warned that if I continue I would lose my legacy. I told him what people think of my legacy, if there is any, is not important. I am concerned at what is happening in the country. Our good reputation is being eroded.

6. He repeated several times that I would lose my legacy. I really appreciated his concern. He is a friend and I felt he cared for me.

7. We parted as friends.

8. But now I understand better why he talked about my losing my legacy. He has been given the task of demonising me, of destroying what he calls my legacy. I think he and his boss believes that if I become unpopular then my condemnation of the shenanigans involving 1MDB would be ignored by people.

9. So we are seeing now a new and more aggressive campaign to demonise me and to show how much the PM is supported by the people. Clearly large sums of money are being spent on this campaign. My friend is now installed in the Prime Minister’s Office and is working hard to cover up the wrong-doings of 1MDB. The first pages of the mainstream media now carry explanations on how the borrowed funds were spent. They add up neatly to 42 billion Ringgit. Before criticisms were just ignored. A policy of elegant silence was followed. Now Najib has been advised to answer to explain. However, he lost an opportunity to explain when he did not turn up for for the “Nothing to Hide” forum.

10. But there really can be no explanation on the disappearance of the money supposedly brought back from Cayman Islands – six billion US Dollars. No explanation can be made on the denial by the Swiss bank that it received money from 1MDB. No explanation on Arul’s claim that he saw the cash and the PM explaining there was no cash. Now the cash has become units. What units? No explanation also on the inability to pay interest of 2 billion until Ananda donated or loaned 2 billion whatever. Nor is there any explanation as to why 1MDB needs investments of USD1 billion by IPIC to pay debts to Deutsche Bank when 42 billion investments have been made. Is there no returns on the investments? And many other questions remain unanswered.

11. My ex-friend will have to do better at demonising me if he is to earn titles etc.

1MDB RESTRUCTURE

1.  The 2nd Finance Minister has presented Cabinet with a restructuring plan for 1MDB which will solve all it’s problems. I would like once again to repeat that repayment of the debt does not absolve the borrowers from responsibility for losing the money in the first place. The money is not lost through bad businesses but has simply disappeared. Somebody knows how the money disappeared and who has the money now. But that somebody is not telling.

2. Now the restructuring process.

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REPAYMENT OF DEBTS

1. There seems to be some confusion over repayment of debts and the loss of money by 1MDB.

2. Even if the debts are fully paid up through the sale of assets bought by 1MDB, that does not mean that 1MDB is free from the charge that it cannot account for the billions it had lost.

3. In business, money can be lost through bad investments or bad management. That is acceptable though the CEO and Managers would be sacked.

4. But when money is lost and the management cannot explain where it went and how it disappeared then management would still be responsible even if there is a bailout or the debts paid.

5. Thus with money claimed to have been invested in Cayman Islands and despite claims that it had been brought back and is now in Singapore, the money cannot be demonstrated to be there in tangible form, then management will be held responsible for its loss. The assumption must be that management had misappropriated the money unless otherwise proven.

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SIAPA BERTANGGUNGJAWAB

1. Apabila jawapan kepada soalan yang ditujukan kepada Perdana Menteri atau Menteri oleh ahli Parlimen walaupun jawapan itu disediakan oleh pegawai, tetapi yang bertanggungjawab ialah menteri kementerian berkenaan. Dialah yang akan memikul beban kesalahan jika ini berlaku. Walaupun prosiding dalam Parlimen diberi kekebalan melalui undang-undang, tetapi jika jawapan tidak berasas kepada kebenaran, ia tetap tidak benar dan tidak lagi kebal apabila jawapan itu disiar untuk pengetahuan umum tanpa dinafi.

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NAJIB REBUTS

1. Najib rebuts nothing. Beyond saying that the Altantuya case is old, he has rebutted nothing. The matter is still current because the hanging is to be now. The two were released before. Their acquittal meant the matter was settled. But now they are to be hanged. Apparently they acted upon orders. Hanging them would be a travesty of justice.

2. On IMDB, the same answer is given. Wait. Wait until the Auditor General reports. That can take years. Examining the accounts will reveal nothing. It will not explain the involvement of Jho Low. It will not explain how Riza Aziz has so much money at a time when 1MDB money disappeared. It will not explain the funny transactions with Petro-Saudi, the banks in Seychelles, Hong Kong and Cayman Islands. Then the money from Cayman was brought back and deposited in Singapore. Now the bank says no money has been deposited with it.

3. Asking people not to ask any questions until the Auditor General reports is silly. It is like seeing someone robbing and the public must wait until the court hearing is over before talking about it.

4. And the aircraft for security. Is it going to stop the kidnapping and casual invasions of Sabah or the smuggling of arms from across the northern border? Or is the security confined to people flying in private jets only.

5. This country is being attacked repeatedly by terrorists who killed our police and soldiers. Is this the normal state of things or is this a security problem? If we care for security do we buy luxury private jets.

6. It is shameful that we cannot even ensure the safety of our citizens.

7. The Auditor General can audit but it is not going to reveal much. The better thing to do is to set up a commission, the members of which should not be chosen by the Government, to scrutinise every act of 1MDB. This is because it is basically going to investigate not just 1MDB but also the Government, which has clearly failed to oversee the affairs of 1MDB.

PILIHANRAYA KECIL

1. Apabila pilihanraya kecil bermula di Rompin dan Permatang Pauh, saya diberitahu oleh penyokong Najib bahawa PRK ini akan membuktikan sokongan kuat kepada Dato Sri. Dakwaan saya yang Najib tidak popular akan meleset.

2. BN akan menang besar di Rompin kerana ini kubu UMNO dan JJ amat popular. Lagipun calon PAS lemah dan PAS mempunyai masalah dalaman.

3. Di Permatang Pauh pula parti lawan berpecah kerana hudud PAS. PAS tidak akan sokong PKR. Azmin Ali pula berhasrat mengalahkan Wan Azizah. Ada kemungkinan BN boleh menang pun.

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TABUNG HAJI

1. Tiada ada Negara yang begitu berjaya mengumpul wang dari orang Islam yang berhajat untuk mengerja haji dari Malaysia dengan Tabung Hajinya.

2. Wang yang ditabung sejak ditubuh Tabung Haji sudah meningkat sehingga ribuan juta Ringgit. Wang ini boleh dilabur supaya keuntungan dapat membantu pengurusan tabung haji dan subsidi kepada bakal haji.

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