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18/04/2016

NAJIB IS DEEMED / DE FACTO 1MDB DIRECTOR BY LAW. HAFARIZAM & ARUL KANDA TALK RUBBISH!

by stuff it boot-lickers, Donplaypuks® intrepid correspondent for brown-tongue affairs


CLICK ON LINK BELOW TO BUY BOOK 'MURDERED IN MALAYSIA:THE ALTANTUYA STORY' BY E.S. SHANKAR of http://esshankar.com/:





As boot-lickers come and go, serially lying Malaysian PM Najib and BUMNO/SCUMNO have more than their fair share of them. But few come close to to the stupidity and incompetence of Najib's sycophantic lawyer Hafirizam Harun or 1MDB President and Chief Executive Managing Director Arul Kanda.

The world now knows that another boot-licker, Hassan Arifin, the Chairman of the Public Accounts Committee (PAC) conspired with Najib to issue a statement that he was not involved in the affairs of 1MDB. No sooner was this statement made than it was revealed that under the Articles of Association of 1MDB, it could virtually do nothing without Najib's written approval.

More than that, it was revealed that since 2009, Najib had in fact signed numerous resolutions and letters and guarantees authorising 1MDB to raise billions of ringgit of loans and plough it into "investments". Now, we must also keep in mind at all times that Prime Minister Najib is the man who started 1MDB. He has been both Finance Minister AND Chairman of the Advisory Board of 1MDB from the very beginning in 2009. Given these facts, there was no way that Najib was not involved in 1MDB's affairs and that the buck did not stop at his desk! SEE PICTURE BELOW.
Furthermore, under Section 4(1) of the Companies Act 1967, a director is a person who is formally appointed as such, or, regardless of whether he is appointed so or not, is one from whom the Chairman, Board of Directors and top management are used to taking and acting upon instructions from. Thus, Najib is considered a deemed director or de facto director of 1MDB.

Corporate history all over the world is familiar with bankrupts or criminals continuing to run companies by remaining in the shadows, while their wives or children or nominees act as fronts in the operations. So, whichever way we look at it, Najib is involved up to his eyeballs in the affairs of 1MDB.

When the news of Najib having signed numerous 1MDB resolutions and documents came to light, quick as a flash, his boot-licking lawyer Hafarizam came up with the statement that basically Najib had signed the documents blindly, and therefore all the fault lay with 1MDB's board of directors and management! Huh!

The prime minister's lawyer who had served so many years as a Deputy Public Prosecutor with the Attorney Generals Office does not know that a person's signature on any legal document is prima facie evidence that he has read its contents, and that it's up to him to prove otherwise? That ignorance of the law is no defence, especially for a prime minister who has the entire machinery of government to advise him before he signs anything?

Also, when questioned by Channel NewsAsia why Najib had yet to sue the WSJ, Hafarizam not only showed his ignorance of national and international laws, but he also resorted to racism and false patriotism to deflect Najib's now exposed looting of at least RM4.2 billion of 1MDB's funds for his personal gain. CLICK HERE AND ON VIDEO BELOW.

video

I am no lawyer, but the law is not that complicated on this subject. Any citizen or foreigner who commits a crime in a country is liable for prosecution in that country. In the event that the alleged criminal is a foreigner who has returned to his home country, the prosecuting country can only ask him to return voluntarily to face charges, or apply for extradition. Extradition can only succeed if there is a treaty between the two countries AND the offence is an extraditable offence.

In Najib's case, investigations are going on in Switzerland, USA, Hong Kong, Singapore, Germany and Luxembourg for offences ranging from money-laundering to outright fraud, all committed in those countries. He can be extradited to face the music if the prosecutors there feel they have a good case and there is an extradition treaty between the and Malaysia.

So, why was Hafarizam waffling like an amateur and deliberately being thick?  Firstly, in 2009, Hafarizam and ex-Chief Justice Zaki were responsible for allowing an elected state government in Perak to be replaced by BUMNO/SCUMNO through the back-door, as it were. CLICK HERE. Najib was of course pulling the strings from the shadows.

Then Hafarizam and Zaki's wife won the Federal Government's RM2.2 billion price-inflated KIDEX toll highway contract. CLICK HERE. There is no doubt that between them, they would not know how to lay two stones together side by side, let alone handle anything as technical and complicated as constructing a toll highway. 

Unfortunately for them, the Selangor state government cancelled their approval for the contract in 2015, as KIDEX had not complied with several of their pre-contractual conditions such as the requirements to hold proper public inquiries and conduct unbiased traffic studies. At RM161 million per kilometer, KIDEX would have been the most expensive highway in Malaysian history, including its concession period of an unheard 48 years!! That explains why Hafarizam is still  defending the indefensible and sucking up to Najib, doesn't it?

Hafarizam then insulted the WSJ and other foreign news organizations with a racist remark by saying that their exposes on Najib's massive criminality was tantamount to attempted re-colonization of Malaysia by the Americans, the British and the whites!

So, what should Malaysia's attempts to prosecute Justo or Clare Rewcastle-Brown be seen as? Revenge against the whites by  a brown? And when exactly was it that the USA colonize Malaysia?

Not to be outdone, in came Arul Kanda, 1MDB's President, right on cue. Concrete proof has now been produced that about US$4.2 billion or RM17 billion had been fraudulently diverted from 1MDB on Najib's instructions, for his personal gain. 

RM14 billion was diverted from 1MDB to off-shore companies headed by Abu Dhabi Aabar Plc Chairman Khadem Al Quabaisi and his CEO, Mohamed Bawady Al-Husseiny. These off-shore companies had names very similar to Aabar companies so much so that Malaysian auditors appear to have been fooled by them.

RM3 billion (US$700 million) was transferred to Najib-crony and 1MDB investment advisor Low Taek Jho of Good Star Ltd. incorporated in the Seychelles.

All three have repeatedly denied their criminality despite having been exposed by Sarawak Report and the WSJ. Chairman Hassan Arifin refused to summon them to testify at PAC hearings. When Arul Kanda was questioned, his answers now published for public consumption reveal that he was pretending not to understand questions put to him or playing around with words.

Now that the real Aabar's parent company IPIC in Abu Dhabi has made an announcement to the London Stock Exchange that they never received the RM14 billion, Arul Kanda suddenly thinks that 1MDB could have been the VICTIM of a fraud!!?? 1MDB was not the victim of fraud, it was the perpetrator!

But that there was fraud is exactly what Sarawak Report, Tony Pua, myself and a few others have been saying since 2013. Yet, when Arul Kanda took over as CEO in January 2015, he did nothing to get the books audited for fraud! It is not 1MDB that was defrauded, but the PEOPLE of Malaysia.

The fact is this fraud involving RM17 billion must have been committed by Najib with the tacit assistance of the Chairman and of some of the directors, if not all, and the top-management of 1MDB such as Sharol Azlrul Helmy. This is obvious since Najib had to sign off on these massive bank transfers and another RM4.2 billion of "donation" more that made its way to his personal bank account in Malaysia.

The hole in 1MDB's balance sheet is therefore between RM20-30 billion, plus another RM4 billion of loan from KWAP utilised in dodgy Mongolian/Indon coalmine venture investments and subsequently transferred to MoF by Najib's orders. 

So, Hafarizam, Arul Kanda and everyone else at 1MDB and the Cabinet can continue lying and covering-up for Najib and themselves, but the exact amount of money misappropriated, misused and swiped by 1MDB Chairman, directors and top executives, Najib and his government of thieves will be ascertained soon, for the world to gasp at! 

This is surely the heist and crime of the century in Malaysian if not world history!

And note too, the similarity in modus operandi of Najib, the police and Attorney General in the murders of Altantuya (2006) and Hussein Najadi (2013) and Kevin Morais (2015) and in the investigation of 1MDB. The PAC finally only recommended that Shahrol Azrul Helmy of 1MDB be charged for a crime, but refused to name Najib as the main person who should be prosecuted. In the two murder cases, till to-day the police have refused to investigate to identify and charge the mastermind who gave the orders to kill. 

Najib has the touch of the plague about him; whatever he touches withers, goes rotten and dies!!


Donplaypuks® with boot-licking and brown-tongueing, man!

17 comments:

Aku said...

And now they have even got the saudi foreign minister, Adel roped in to give a somewhat photogenic face to the connection. It really matters not what he was mumbling about, the mainstream media chaps have made sure that now the "1mdb director by law" is clearly innocent, aggrieved even.

Cw Hew said...

Questions that remain includes,

As reported widely by SR/WSJ/4Corners,the Saudi claimed the donation may possibly be channelled though BAREPL, the same channel where Al Hussieny received millions if not billions that snared him in UAE/Swiss..what a coincidence!

Donplaypuks® said...

Aku & Hew

There is no free lunch. Not even in heaven.

When the dust settles we will know exactly how and through which channels and stooge/crony Najib and his cabal of thieves fraudulently siphoned the $25-30 billion out from 1MDB into their own pockets.

Of that, I have not the slightest doubt!!

Phanga said...

I'm having the same thoughts as CW Hew.
The money flows are as follows:
Wan Em Debe--->BVI offshore--->The unta fellas in Saudi(Donasyen)--->PeEm bangang.
That's why the unta fellow dared to say it's a donasyen.
And now for tomorrow's news on IPIC refusing to pay USD50 million interest on the bonds it was suppose to assume. Now who is gonna be forced to pay that interest? You, me and everyone else in this god foresaken country.
I'm watching out for the cross default on all the outstanding debts though.

Donplaypuks® said...

Phanga

The Arab Foreign Minister's statement was very vague. Also, it's obvious he read from a script written for him. He mentioned nothing about RM2.06 billion of the "donation" being returned as claimed by AG Pandi and Najib. Anyway, no one believes him because he said the opposite in January!!

So, it's all one big lie!

AS for IPIC, they agreed to service 1MDB's debt in return for asset swap of about $3.5 billion in early 2015. However, till to-day it has not announced the exact details of what assets were swapped to the London Stock Exchange. Neither has 1MDB announced it. I suspect there are not enough assets for a swap because the money has been siphoned out by Najib and replaced with worthless IOUs and unheard of "Units"!!??

So, why the delay and what is the big secrecy?

This is another fraud in the making by the thieving, incompetent and serially lying Najib and his government and administration of thieves and possibly murderers!

Phanga said...

Donplaypuks,
Have you read M'kini's report on IPIC potentially about to reneg on it's bailout of Wan Em Debe? Dunno whether it will happen.

Donplaypuks® said...

Phanga

Yes, I read it. It may trigger off several cross defaults with banks and bondholders. Najib's house of cards will all then come tumbling down.

IPIC has still to announce the terms of its asset swap with 1MDB to the LSE.

As I said above, it's been nearly a year. If it hasn't happened by now, IPIC will use that to say 1MDB has not complied with the terms of settlement and refuse to service this US$50 million and other future interest payments.

So, we have Najib where we want him to be - in the cross-hairs and shaking. Let it all collapse since that may be the straw that broke the camel's back!

Phanga said...

Hi Dona,

Have you read? Nasi Kanda throw in the towel?

http://www.theedgemarkets.com/my/article/1mdbs-us1b-default-could-trigger-cross-default-its-other-debts-says-arul

Dunno whether he will say Edge wrongly quote him but won't be surprise if he does.

houdini said...

“These Umno guys are spin masters. They know all sorts of nonsense. All these guys go round and round. I say, ‘It’s very simple. There’s a Board. Who is the shareholder?”

-Jho Low

http://www.freemalaysiatoday.com/category/nation/2015/04/14/jho-lo-ready-to-talk-on-umno-spin-masters/

The main shareholder is also its Advsor Najib Razak, Minister of Finance without whom under its Section 117, 1MDB cannot even fart....
https://twitter.com/sarawak_report/status/719060807062052865

Donplaypuks® said...

Hi Houdini

Yes, these BUMNO guys and gals are looters defending outright lies and looting by serially lying Najib and his administration of thieves.

It is our duty to stop them asap!

houdini said...

CEO Arul Kanda has been named in investigation documents as having sent false bank statements on behalf of 1MDB. However, he arrived in January to find all the computers and records had been wiped – so who passed this false material?

http://steadyaku-steadyaku-husseinhamid.blogspot.my/2016/05/sarawak-report-imdbwhen-first-we-set.html

Anonymous said...

Talking nonsense. Just spinning

Anonymous said...

Sorry, got to ask you, why is the blogsite SakmongkolAK47 not accessible? Is Datuk Ariff ok?

Donplaypuks® said...

Anonymous 9.39PM

Sak tells me he is re-designing his blog.

So, the shut-down is voluntary and temporary.

Anonymous said...

Bro, Off subject again, wondering if you have any latest updates on Sak's blog, when it will be up again?
Thank you.

Donplaypuks® said...

Will check and let you know.

atomique2shy said...

Sak's new blog - is it not senapang sakti now? The writing is sort of similar, with a penchant for anglicised Malay words like "aspirasi", "partisipasi", "korupsi" and so on. Kinda makes you wonder, why bother with the language when a full 2/3rds of the words used are English anyway.