Wednesday, January 9, 2019

China Offers to Bail Out 1MDB

On Monday, the Wall Street Journal carried an investigative report by Tom Wright and Bradley Hope (the authors of Billion Dollar Whale, in case you don’t know) which had cited previously undisclosed minutes from hush-hush meetings between Malaysian and Chinese authorities. 

An expose that points to China as a diabolical opportunist!

It blew the lid on senior Chinese officials’ overture to Najib Razak (left) to help bail out troubled 1MDB in 2016 in exchange for lucrative stakes in infrastructure projects in Malaysia.

Interestingly, minutes purportedly of China-Malaysia meetings further showed that although these schemes were “political in nature” – to settle 1MDB’s gargantuan debts – it was imperative the public viewed them as commercial pursuits. 

The WSJ article also reported clandestine talks between China and then prime minister Najib to allow naval ships from the former to dock at Malaysian ports. 

After Pakatan Harapan formed the federal government, Prime Minister Mahathir Mohamad swiftly put the Chinese projects on hold. You can't fool Mahathir all right!

Of course, both China and Najib Razak have loudly denied this WSJ revelation! Of course lah!

On Tuesday, I was having breakfast in a mamak restaurant in Jalan Telawi 5 in Bangsar, KL and this morning, I was in Seksyen 28 in Shah Alam, Selangor – and as is becoming my habit, I checked out whether Malaysians are complying with the no-smoking ruling.

Yesterday morning:

This morning, I was back to my nasi lemak sotong and Coke:

And I am happy to report that in both locations – nobody smoked!

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