YOURSAY ‘They have too much money to pay interest? Our money, by the way.’

Ananda to 1MDB's rescue with RM2bil loan

Gerard Lourdesamy: Malaysia’s second-richest man Ananda Krishnan (AK) is lending the money to save PM Najib Razak's face and he does not expect "fantastic" returns from 1Malaysia Development Berhad (1MDB) but rather other favours from the Umno-BN government.

Frankly, I am shocked that he wants to "waste" his money this way rather than help the poor Indians in Malaysia. The RM2 billion will go a long way to provide the community with better access to education and jobs, affordable housing and more opportunities in small and medium businesses.

Why bother with 1MDB which only benefits the Umno cronies and the elitist bumiputera? What has 1MDB done for the 70 percent of Indian Malaysians in the country who earn less than RM3,000 per month per household?

As AK gets older and given that his only son is a Buddhist monk and his daughters are doctors in the UK, his vast fortune should be used to help the poor and needy in this country who have nothing thanks to the greed and avarice of our politicians. That is the better karma than helping 1MDB.

Basically: Surely this is fishy, IMDB just said they have money sitting in the Caymans being repatriated , so why take a RM2 billion loan? They have too much money to pay interest, is it? Our money, by the way.

Senior: It matters not who lends money. I am worried that the ‘state investor’ cannot repay a loan and has to depend on an outsider.

It leaves a bad taste, and raise concerns that our national funds are badly managed. Perhaps even the concept is flawed.

Fair Play: An equity investor bailing out a state sovereign funds, or is there something more than meets the eye?

Kit P: It’s a debt-for-equity swap. Ananda settles 1MDB's immediate loan repayment problem in return for a major stake in 1MDB's power assets.

It also creates a long-term headache for 1MDB. It was depending the IPP (independent power produceer) shareholding to generate much of the future income to settle its future loan repayment obligations.

Reduced shareholding in the IPPs means reduced cash inflow. 1MDB is just rearranging deck chairs on the Titanic.

Unspin: It looks like this is the start of a fire sale at 1MDB. That is the problem when a business operates only with assets but little operating cash flow.

Foodforthought: And they will muscle all the local pension funds, financial institutions, etc, in the name of 1Malaysia Boleh 'national service' to swallow the initial public offering (IPO) and announce it as a success. How pathetically self-denying can they get.

Malaysia Ku: So now a private non-financial entity is giving a loan to 1MDB? And what assets is the already heavily-indebted 1MDB surrendering to the already-loaded Ananda?

And as the usual practice of the Umno government is to have their cake and eat it too, who else in Umno will have their bank balance bloated further with the side deals aka "commissions", resulting from this shady deal?

Truly a failed nation. Sigh.

Doc: As a person who believes in free speech and constructive criticism, I thank the Umno cyberputras for their comments in Malaysiakini but I have to admit, I do have a hard time trying to figure out the content of their comments.

So, in the true spirit of 1Malaysia, I would like to urge the Umno cyberputras to please make comments in Bahasa Malaysia so that we can understand them.

Viviyan Jack: When AK is willing to lend RM2 billion, it means that he could see a huge potential in this company. No one will make an investment for nothing.

Jamal Jaz: We are so disappointed with the opposition who spin the issues involving 1MDB. Actually the government has already provided a clear picture about 1MDB.

Doc, you are the traitor, we know that you been used by the Pakatan Rakyat to further their agenda.

KY Jelly: Why is the opposition making this issue as if they are the ones who will bear the 1MDB debt?

Malaysian 53: Thank you Jelly, Jaz and Jack for your very valuable backing of Najib/1MDB although all of you don't know what the problem is.

Have you all received your January payment or is it piece rate? Please do not undermine the standard and quality of cyber comments.

It is disgusting to see people merely writing without understanding the issues.

Abasir: First it was AKK (Arul Kanda Kandasamy), now its AK (Ananda Krishnan). Things must be getting really desperate for the very desperate Najib to be turning to Indian Malaysians in this sordid Satu Malaysia Bahaya saga.

Now if that isn't against the Malay agenda and against everything ‘ketuanan Melayu’ stands for, I don't know what is.

And it is curious that none of the usual parasites aka defenders of race, religion and royalty have come up with even a squeak of protest.

Supercession: Desperate times call for desperate pleas to cronies to cough up cash to keep 1MDB afloat.

Meanwhile, the couple of billion ringgit said to have been repatriated are on its way back - in a sampan, it would appear.

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