Tuesday, June 02, 2015

The 1MDB-IPIC deal for idiots

Name calling in Malay usually starts with P not S

And why the name calling is affecting some people more than others.
Taman Tun, 2/6/2015: An overlander pal observed this morning that of late each time Tun Dr Mahathir Mohamad lashes out at Datuk Seri Najib Razak, the PM would emerge from the round lookinga little stronger than before. I was curious as to how he'd come to such a conclusion and soon understood why: it's not the Tun, it is the people around Tun! For example, the overlander kept quoting Zam (Tan Sri Zainuddin Maidin) as if Zam was Tun. Zam's latest was in which he calls Najib Razak's supporters "sampah". Aiyoo. That's not good. Now some people actually think that's written with Tun's consent or, worse, Tun himself thinks like that. At least Jebat Must Die calls those who support 1MDB "special people". 

There are others around Tun who are making the Statesman look really bad. Yes, there are those around Najib who make the PM look bad but that's something we expect of the government, whoever the government is. In any case, I think we'd be better off not resorting to name calling. Just argue our points. And stick to what we know to be true.

Now if you can spare three minutes of your precious time, please read Another Brick in the Wall's As simple as withdrawing FD before maturity (1/6/15) which answers YB Tony Pua's question If US$1b from  Arabs is not a loan, what is it? (2/6/15. Malaysia Today).

No bailout
A simple analogy to the "binding agreement" is similar to a 6-month Fixed Deposit that has to be withdrawn before maturity out of some immediate needs for money. It enables the money to be withdrawn before the maturity of the deal.

So it is not a case of new borrowing or loan shark.

Neither is it fresh capital injection which will invite accusation of dilution of Government or rakyat interest in 1MDB. Confidently, it is not a bailout as openly opposed by Khairy. Petronas money is not touched as a bailout piggy bank.  
It is non-sensensical to say that it is new borrowing to cover for expiring loan to Deutsche Bank in which it is claimed that the Deutche Bank borrowing was to invest in IPIC.
This is not a case of  "korek lubang tutup lubang" too. This is an advance payment by IPIC for an agreement that involves settlement of various assets and liabilities between the parties.

I can say that at least A Voice has gone through the audited accounts of the 1MDB (few bloggers even know what they look like) and interviewed some of the people who are familiar with 1MDB and what's going on in the Cabinet of PM Najib Razak. He also still enjoys quite a bit of access to individuals close enough to Dr M to be able to claim to know the man.


Anonymous said...

Dato Bru,

Interesting observation:

"An overlander pal observed this morning that of late each time Tun Dr Mahathir Mohamad lashes out at Datuk Seri Najib Razak, the PM would emerge from the round looking a little stronger than before"

Tsk tsk...Unfortunately this is not how me and my friends "observed"..each passing day Najib looks more and more weak and incompetent...

We had a "barbecue" last week close to 20 of us...oh and there is also one guy from wisma putra!....Not a single one of us vouch in support of 1MDB nor Najib.

paktam said...

Its so complicated to be called similar to fix deposit. What is it? There are well known investment cos. around the world and yet the Arab is chosen. One wonder what is so special about this particular Arab.

drMpower said...

a non paid guy ( i assume he is a guy and not paid ) manages to at least put some numbers on his blog. and a layman like me read and understand what he was going about.

so why cant fat cash piggies do the same from DAY 1? how hard can it be? including this guy, there is another guy a chinese on FB. these two can do decent job. i hope they are hired to do some back explanation on anything fatty piggies cannot do. or bothered to do.

and despite everything, this venture is a doomed thing. MoF II confirmed this by saying it isnt financially sustainable. this part will make someone look VERY BAD. so if thats the case, then MoF II directly saying the guy sitting on the top of the venture is either STUPID AND BAD, RECKLESS and BAD, or all the above? why i say so? because that guy must had seen the papers on this venture and he must have realised this venture isnt financially sustainable as mentioned by MoF II?

instead he signed off all the papers. or allowed all these to happen.

Anonymous said...

"This is an advance payment by IPIC for an agreement that involves settlement of various assets and liabilities between the parties"

Can you tell us what are the "various assets and liabilities"? 1MDB's assets in total cannot reduce its debts by much. How much is the "roadmap" costing MOF and taxpayers?

Anonymous said...

Excellent. So maybe you or A Voice will have no trouble explaining why this Cayman One B is such a hot potato. From Saudi to the Cayman's then into Singapore and now to Abu Dhabi. So A Voice knows for sure that Abu Dhabi is merely buying the USD1b dollar for dollar no interest charged, does he? You see, Rocky, your PM's bapak sent all us Malays off overseas under NEP and now we monkeys have become quite clever. Why, we can even speak. And read for ourselves. And think! Such a novel concept that I suggest your PM try it.

Petoi Boga said...

Whatever the explaination maybe, complicated or simple as the case maybe, what's important is the perception of the public, or to be precise the voters of GE14...

charleskiwi said...

The people around half breed, are really all his cronies and the beneficiaries who had been given the crumbs without having to put in a day of hard work. These people must be worry sick of their own future and the tortuous thought of what will happen to them if the repugnant and avaricious half breed Mahathir is no longer around. Already right now already they are just only beginning to feel the consequences of what lives are without having to work for the crumbs . They are not really the supporters of the half breed but are only trying to use him to protect themselves. They must also know it is a loosing battle and a fast loosing one unfortunately.

The 'chap chong' had implemented so many atrocious policies over the 22 years as PM that Malaysia will never recover from the damages these policies did are doing for a least another generation, if Malaysia can ever recover from them. Remember many such policies are still waiting to be realised or felt by the majority of Malaysians, just like a tree, you only get to know what kind of fruits, good or bad, it will bear years later. But it will surely be too late to even realised the effects of what the many policies this 'chap chong' has done until it is too late or it is already too late. Please don't forget he never was and is a Malay therefore the Malays should never be blamed for the atrocities he did to this country, he is a half bred and the Malays should therefore not be responsible for a mamak.
As expected his response to the question of the investigation into the billions he is accused of hiding them abroad should not be a surprise. Would an accused murderer ever admit that he is responsible for the murder ? Sure just like what he said to the people who are trying to trace where the fortune of the richest man is being hidden good luck to these people. These people will indeed require more than good luck in their endeavours and lots of them. The half breed must have realised that will happen one day and as such the hidden treasure must have been very meticulously hidden abroad, the numerous trips abroad over the years and even now at his old age when his heart is having many problems he is still going for his 'holidays'. The truth is he is just auditing the ill gotten fortunes are still well hidden and sill around and that is why he is saying good luck to whoever is trying to trace the whereabout of the vast fortune of the richest man of Asia is hidden. Let hope that his 'chap chong' will still be around when the fortunes are traced !

Anonymous said...

Anonymous 2.50 p.m. Najib don't need your support cause with 48% votehe can still rule the country. He only need the Jesus bahagian support. Wah bbq you must a city dweller, hello 80 percent of city dweller voted or bias to opposition. So your the 19 of you don't mean shit to najib and umno.

trifling-jester said...

rocky, its a well known fact that if you spin hard in quicksand, you sink faster.

good luck down there. hopefully you've made enough of a nest egg being paid to deceive the rakyat.

Anonymous said...

Rocky, Salam 1MDB, may I enquire how to join your camp and get on the gravy train with you, Bujai,Another Brick and especially RPK, please. Oh, you can also refer me to Salleh Keruak. Let's make some mullah together and defend our great PM and the genius that is 1MDB