2. The Chairman of the cash rich Poor Pilgrim's Fund would not have first lied that there was no land deal with 1GDB. He played around with semantics to try and wriggle out of the net. Being a grovelling scrotum licker and 3-way massager and barua, he had to refer to Grossmajib what to say. Of course BUMNO/SCUMNO/Barang Naik's first response when caught with their pants down, is to always lie.
With total interest bearing debt of about RM46 billion, 1GDB has an annual debt interest cost of some RM2.3 billion. So, what are Grossmeldajib and new CEO Kenneth Kaunda Kundi's plans to service debt interest AND retire the RM46 billion debt permanently - why, sell of more of the crown jewels, of course! Only a madman would undermine Tenaga by creating an IPP hydra which depends on and milks Tenaga for its cash flow. A small country like Malaysia does not need two substantially or wholly government owned energy players. Instead of achieving economies of scale by parking these assets under Tenaga, Grossmajib has created a monstrosity which is paid on average three times the cost per kilowatt which Tenaga can generate. More than that, there was fraud in the purchase of these IPP's resulting in goodwill write-offs of some RM3 billion in 1GDB's accounts. The IPP listing has now been deferred twice; not surprising, when its books will not stand up to the scrutiny of a kampong nenek. The IPP's only have value because Tenaga has been raped and Grossmajib renewed their licences and awarded them dirct-nego contracts. Now, one by one, IGDB is being stripped of these joke give aways, and handed back to guess who, why that perennial whipping boy, Tenaga!
Grossmajib and his new his CEO are desperados. They lied to us last month about RM2 billion being transferred from from 1GDB's bank accounts at the off-shore tax shelters of Cayman Islands to its Singapore bank account, to service debt. It turned out that this money, which was deliberately kept off-shore to escape detection and scrutiny by the central bank for money laundering, payment of illegal commissions, CBT and tax evasion, could not be touched. They had to be bailed out by a "standby credit line' of RM970 million by the MoF. More than that, RM2 billion of debt had to be rolled over, "assisted" by another Malaysian fraudtrepreneur who has his sticky fingers all over 1GDB.
But given that 1GDB is 100% owned by the Ministry of Finance (MoF), and that sovereign guarantees have been slyly and secretly given by orders of the Grossmeldajibs, in reality it means that WE, THE PEOPLE, have been bamboozled by the Grossmeldajibs yet again. We are stuck with RM46 billion of debts like a blood-sucking leech to the legs of an unwary amazon river swimmer, regardless of whether sovereign guarantees were given or not. If 1GDB ever defaults on its debts, our international credit standing, currency and stock market will be brought down to its knees faster than a frisky Monica Lewinski would to Clinton's orders. Our economy would fold and collapse like a pack of cards. This is the millstone that the Grossmeldajibs have placed so graciously place round the Rakyat's (citizen) neck.
IGDB should not be allowed to sell 1 sq. ft. of the Rakyat's land. Had this land been given to your or my grandmother, they too would have realised the same gains as 1GDB by doing nothing but sweet FA! 1GDB should be forced to return all the land to the government at original cost; it has no experience whatsoever in developing land or construction. Since outsourcing is the name of the game, the Rakyat can always find cheaper and more effective and value-for-money alternatives.
If Malaysia should be sucked into a debilitating stretched-out recession, who would suffer the most? Of course, it would the Malays/Bumiputras. This is why they should wake up and take charge. They should throw the Grossmajibs and their 1GDB team (including the CEO's and accountants who resigned) in prison for ever and take back the reins of government from the crooks, cronies and crooked former and current prime ministers and (wooden IKEA) Cabinet and fake warlords. You fate is literally in your hands. Do not lament when it is too late, and all that is left for us to share and work on is a mountain of debt, while those scoundrels, the Grossmajibs and their cronies holiday and party in London, Paris, New York, Tokyo, Monaco, Kazakhstan and Sri Carcosa with OUR hard earned money!