Tuesday, March 17, 2015

Najib Razak's Lying Through His Teeth

Yesterday, Najib Razak (left) had come out to say that the letter of support issued by the government to 1MDB Global Investment Limited, a subsidiary of debt-laden 1MDB, to borrow $3 billion means that the government will repay the debt if the latter cannot do so. 

If you recall that in November 2014, Deputy Finance Minister Ahmad Maslan had said that although a letter of support was given to 1MDB for the purpose of raising bonds worth $3 billion, it was not tantamount to an explicit guarantee from the government. 

Najib has not been honest with us. He’s been lying through his teeth. He has been stringing us along. Now we know that this whole 1MDB racket is a big scam. 

This $3 billion is just the tip of the iceberg. I wonder, what else is Najib hiding from us?

Already MP Tony Pua is asking: “Where has this $3 billion disappeared to?"

Pua said that all eyes had been on the mysterious $2.32 billion investment in the Cayman Islands and 1MDB Global Investment Limited have escaped scrutiny.

According to him, the funds were raised in March 2013 to establish a joint venture between 1MDB and the investment arm of the Emirates of Abu Dhabi called Aabar Investments. The deal was reported to involve the setting up of a petroleum reserve in Tanjung Piai, Johor, and a strategic partnership in the Tun Razak Exchange.

But none of these projects have materialised and the JV remains in limbo.

More questions are surfacing. And answers continue to be elusive.

On Sunday, SUBS colleagues and I made our way to Taman Sri Serdang in Seri Kembangan, Selangor to attend the wedding dinner reception of Vijayganesh Pullikutthyayanar and Shalini Sandrasegaran. 

Some of the photos that were captured on that sweltering, stifling evening:


On that same day too, Celtic overcame dogged Dundee United to lift the Scottish League Cup and earn the first title of a potential domestic treble. 

Kris Commons (28) and James Forrest (79) scored the goals that made it possible for Celtic to win their 15th Scottish League Cup.

No comments: