KL, Mon 4 Jan 2016
Not everyone agreed with my choice of Prime Minister Najib Razak as Malaysian of the Year 2015. I had expected that, of course, but I think it would be harder to disagree with my choice for the Malaysian to Watch in 2016: Mr Arul Kanda.
The 1MDB chief, who helped Najib successfully execute an ambitious rationalisation scheme to resolve the Government's strategic investment arm's debts in just 6 months [1MDB completes rational plan as promised], has a great deal more to do. It's not mission accomplished yet. Arul has got to turn 1MDB around in 2016 and he's go to do that under circumstances which are likely to be as hostile, if not even more so, than in 2015.
That brings me to my candidate for The Other Malaysian to Watch in 2016: YB Tony Pua. The DAP young gun, who sits on the bipartisan Public Accounts Committee (PAC) that is investigating 1MDB, is really going out of his way to be extra hostile towards Arul Kanda, prompting a fellow PAC member to tell Pua to "stop playing games".
Some bloggers suspect that Pua is "begging to be suspended" or even sacked from the PAC to win sympathy for his fight on 1MDB. As they say, desperate times calls for desperate measures.
Let's see ...
PACman vs PACman: Pua responds to Teck Meng's allegations
For the benefit of those who didn't get a copy of KiniBiz's Bumper Issue (15 Dec-11 Jan), Arul Kanda was top of their list of People To Watch in 2016.
I agree with you.ReplyDelete
PM Najib is definitely Malaysian of the Year 2015.
Incredible feat to get a donation of MYR2.6bil.
That is going to be quite difficult to beat for the next PM hopeful.
I am so proud of PM Najib.
Will PM Najib get more than MYR2.6bil for the next election?
Do we really need a brilliant man like arul just to sell off our very own assets?ReplyDelete
"The 1MDB chief, who helped Najib successfully execute an ambitious rationalisation scheme to resolve the Government's strategic investment arm's debts in just 6 months, has a great deal more to do. It's not mission accomplished yet. Arul has got to turn 1MDB around in 2016 and he's go to do that under circumstances which are likely to be as hostile, if not even more so, than in 2015."
You seem to be confused.
There is absolutely nothing left to turn around.
All the assets are gone, bar 40% of Bandar Malaysia:
Edra sold to China at a financial loss, AFTER 1MDB overpaid in the first place. 60% of Bandar Malaysia is now in Chinese hands (local & foreign). With this land sale, 1MDB will reduce its RM49 billion liabilities (as shown in its 2014 accounts) by RM25 billion. (RM17.5b from IPP sale and RM7.5b from BM land sale). That still leaves RM24 billion plus another RM10 billion in exchange rate losses (against the US$) = RM34 billion to pay off.
Where is the money coming from, if they have sold off all their assets and BM will only start generating income in, at the earliest, about 3 years time?
The term "fire sale" mean anything to you?
Ah, ok. So you do get it.
Sorry, why is Mr Botak Thamby a "Malaysian to Watch"?
I would keep a much closer eye on his boss, personally.
Watch your pockets, especially.
PS: How to "turn around" a dead, smelly whale with no assets? Well, you can sell it to China as long as they get an even bigger railway contract as the "prize" for disposing of the dead body.
"You help me..."
But, to his credit, Arul is smoooooooth.
He simply oozes competence.
Take his starring role in the whole Ananda Krishnan 2 billion bailout fiasco.
That was a perfect example of the sheer, messy lying that 1MDB is capable of.
FIRST: 1MDB flirts with an EOD after missing 2 repayments:
SECOND: AK whips his wallet out at the very last minute to save the day:
THIRD: Despite the reported rescue, Arul Kanda seemed to have something struck in his throat:
Arul did not explain how it raised the money in his February 13 statement, but in an interview with Mingguan Malaysia two days later, he said reports that AK lent the money were pure speculation.
"Ananda has never said anything about this matter. This is speculation by third parties,” Mingguan Malaysia quoted him as saying.
FOURTH: Despite the last-minute rescue, MOF then deny completely that AK was the source.
“The Treasury has told Parliament that 1Malaysia Development Bhd had used its own funds, and not a loan from tycoon T Ananda Krishnan, to settle a RM2 billion debt with Malaysian banks. In a written reply, the Finance Ministry said 1MDB had settled the loan last month using its own funds from its Cayman Islands account and not with the help of Ananda Krishnan as had been reported.”
This was a WRITTEN REPLY in Parliament, mind you. This is a lie told in Parliament.
FIFTH: The final, humiliating backdown:
Pendek kata, the AK story was true, lah.
At the end of this clumsy attempt to deceive the public, we are none the wiser about why AK, who has a massive conflict of interest in the issue, was the source of funds.
But that's how it's been. Time and again.
Rock.. ' not everyone agreed'...it is almost everyone lahhh..ReplyDelete
Kerja 1mdb senang aje.....buat hutang lagi....kan banyak lagi tanah kerajaan? Tak cukup Semenanjung...tanah di Sabah & Sarawak kan masih banyak. Pulun habis2 harta negara....sampai tahap Putrajaya tepaksa menyewa dari China atau Singapura. Tahniah, Encik Arul & DS Pokjib.
Haha yes bring the popcorn and enjoy the showReplyDelete
Liang Tick is a joke, just like his party is a joke. He accuses Pua of making political capital out of the PAC? But no-one is making more political capital than Liang himself. Get a mirror, Liang. Staring back at you, you'll see some hopeless ass-licker hoping for a senatorship once your party gets reduced from its current 2 MPs to zero. You sad, sad little man.
Rocky, what is seriously wrong with you? You and Raja Petra.ReplyDelete
naahhh arul merely executesReplyDelete
the real malaysian to watch is fatmama
THANK YOU ARUL KANDA!
You played your part in the 1MDB business model, i.e. buy up national assets at "donation prices", sell out nation, get investigated in 6 countries, then do an emergency sale of all your assets to foreigners. (Oh and don't forget to run up nearly RM50 billion in debt, and ask shady Indians and Arabs to rescue you.)
You rock, Aroo.
I agreed with you Datuk. I agreed that Arul Kanda has put Malaysia on the world map with his antics.ReplyDelete