PAS: 1MDB diarrhoea may be contagious
PAS information chief Mahfuz Omar fears the "1Malaysia Development Bhd (1MDB) diarrhoea" might spread to other banking institutions and ultimately affect the people.
PAS information chief Mahfuz Omar fears the "1Malaysia Development Bhd (1MDB) diarrhoea" might spread to other banking institutions and ultimately affect the people.
This is after 1MDB was reported to have missed its December loan payments to Maybank and RHB.
"My worry and fear is that the 1MDB diarrhoea would infect Maybank and RHB Bank.
"If this happens, the disease will creep into Permodalan Nasional Bhd (PNB) and Employees Provident Fund (EPF) as Maybank and RHB bank are the biggest shareholders there," Mahfuz said in a statement today.
This would affect those who invested in shares in PNB and the workers groups that have invested in EPF, and ultimately, all Malaysians, he said.
"This means that 1MDB is infected by diarrhoea from the prime minister to the people but the only difference is the bacteria is not E coli but U corupsi (Umno corruption)," Mahfuz ( left ) quipped.
Mahfuz labelled 1MDB's problems as "diarrhoea" after Prime Minister Najib Abdul Razak contracted the E coli bacteria, which can cause the runs, after visiting flood-affected areas last week.
The Pokok Sena MP said the fact that 1MDB changed three chief executive officers, three auditors and two presidents in the span of five years indicates it is ailing, like Najib, who chairs 1MDB’s board of advisers.
He also called for a Royal Commission of Inquiry (RCI) on 1MDB to find the root cause of its problems.
1MDB has come under fire for increasing debts and investments parked in the tax haven Cayman Islands, which cannot be scrutinised.
Critics abound, but 1MDB says all fine
Its critics include opposition MPs and former prime minister Dr Mahathir Mohamad, but Mahathir has been silent on the matter after a reported meeting with Najib on 1MDB.
Batu Kawan Umno division deputy chief Khairuddin Othman also lodged a police report against 1MDB and called for its directors to be investigated.
On Monday, 1MDB chief executive officer Mohd Hazem Abdul Rahman resigned and was replaced by Abu Dhabi-based Malaysian banker Arul Kanda Kandasamy
However, the Finance Ministry-owned 1MDB has always maintained that its dealings are above board and that it is not funded by taxpayers.
It says the funds are parked at the Cayman Islands due to currency fluctuations, and are being repatriated to Malaysia in stages and that all its international debt is backed by solid assets.
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PAS: 1MDB diarrhoea may be contagious
