You would have thought that after being caught with his pants down raping 1MDB to the tune of $30 billion, Najib would have stopped. He was helped in Malaysia's largest single act of Kleptomania by his step-son Riza Aziz (which implicates Rosmah), croney Jho Low, Lodin, Shahrol Halmi and Ismee from 1MDB, Serigar Abdullah from the Ministry of Finance (MoF) and Chief Secretary to the Government, Ali Hamsa.
Economic Plundering Unit's (EPU) Nor Mohd Yakcop must have been con-sulted. Sycophants from the ruling party UMNO - Ahmad Mazlan, Shahrir, Azalina, Rahman Dahlan, Syed Keruak and many others - benefited cash-wise from it so handsomely that they dare not expose Najib for fear of self-incrimination in massive corruption.
Now we have the ECRL coming in at $55 billion so far, and awarded without open tender to a China state-owned company, China Communications Construction Company (CCCC). Najib has been busy flogging 1MDB's crown jewels to several China companies - 100% of IPP company EDRA for $16 billion including debt (book loss $2 billion) and 60% interest in the Sungei Besi or Bandar Malaysia Land development project for $7.5 billion.
China companies are also major investors in Iskandar land in Johor. A few years ago, the Sultan of Johor disposed $4 billion of land also to China parties. For a man who in clear racist tones blamed the Chinese for the 'Tsumani' that saw Najib and UMNO/BN lose the popular vote at the 2013 General Election, this is surely perverse masochism. But, Najib is desperate. He is being accused world-wide of heading a Kleptocratic regime by robbing and raping 1MDB to the tune of $30 billion, at least.
In justifying these white elephant projects, the EPU will usually come out with very fanciful pie-in-the sky projections. That somehow passenger and freight volumes will increase ten or hundred fold to justify the huge expenditure. Of course, Najib will classify all the dream projections under OSA and tell the citizens that it is in their interest not to know details of $55 billion of the public's money!
Simple maths tells us that for a $55 billion project, the annual interest cost alone will be, say at 3%, $1.65 billion per year. Can the rail link from KL to Kota Bahru generate this amount of money to cover interest alone, when that for the DTRP does not? What about the operating and annual costs? And what about repayment of the $55 billion loan capital. Where is the money for that coming from?
The simple and shocking truth is that the lowest of the low and most shameless serial liar, fraudster and criminal in Malaysian history does not care. Najib is proposing to solve one massive crime at 1MDB with another massive crime at KTMB, and passing the buck to the grandchildren of our grandchildren. Robbing Peter to pay Paul.
But, the reality too is that Malaysia may go bankrupt soon with this kind of blatant robbery by Najib, and it is we who will end up having to pay the price. How can the Malays and UMNO stand by idly and just let it happen, more so when Asia Sentinel says three murders have revolved around Najib as well - Altantuya, Hussain Najadi and Kevin Morais?
In the end, Najib's fraudulent sell out to China will constitute high treason for which hanging would be the only appropriate punishment!