YOURSAY ‘Rakyat has the right to query and hold leaders accountable.’
MP: 1MDB 'complicit' in 'fraudulent' assets claim
Odin: Azerbaijan and Turkmenistan have been disputing their boundary in the Caspian Sea not since yesterday but since 1991. The concession Block III, which includes Serdar Field (a gas field), lies in the disputed area.
Why did 1MDB go into a joint-venture (JV) with PetroSaudi to work the concession (or the Serdar Field), when it ought to have known of the dispute between the two countries and thus the ownership of the concession (or the said field) is not yet legally determined?
The fact that the JV was dissolved mere months later can lead one to suspect that the partnership was formed merely to siphon off money from 1MDB.
The fourth paragraph of this report is not clear. If Buried Hill has entered into an agreement with PetroSaudi, meaning it has approached the latter, the agreement is called a farm-out agreement, because it (Buried Hill) has entered into a production-sharing agreement with the Turkmenistan government and thus has rights (questionable in view of the aforementioned dispute) to the concession, whereas PetroSaudi has not. You can say that Buried Hill is the main contractor, while Petrosaudi is a subcontractor.
Since the agreement has been described as a farm-in agreement, it means that PetroSaudi was the party that did the approaching and because it did not have any rights to the concession. Is this the case?
One also infers that the valuation of the concession was done by PetroSaudi and not by Buried Hill. Is this the case? If it is, and since the valuation has been hastily done before the establishment of the JV, it can lead one to suspect again that the JV was established for the purpose of siphoning off money from 1MDB.
What was valued of Serdar Field? Or are there any other fields (oil and gas) in that concession?
‘Concession' means an area where an oil company is permitted to look for and extract hydrocarbons (crude oil and natural gas) found. A ‘field' is an area above ground, deep underground, or deep below the seabed where crude oil or natural gas, or both, has or have been determined to exist and to do so in commercial quantities.
Unless my information is wrong, Petronas is, or at least it has been, active in that region. Does it not make sense for Petronas instead of 1MDB to be involved in the O&G (oil and gas) activities there?
Louis: Prime Minister Najib Razak owes Malaysians an explanation.
Dear Najib, the money involved is not RM100 or RM200, but billions of ringgit, and this amount is not something to play the fool with.
You can't run away from this responsibility by claiming that you do not run the day-to-day management of 1MDB.
You are the one who started 1MDB and as Petaling Jaya Utara MP Pua said, it is your baby and is your duty to see that the baby is taken care of.
Rick Teo: 1MDB says they made US$488 million. Show us the money, yes, show us the money. Anyone can say they make billions but at the end of the day, we want to see the moolah please.
Hippopotamus: Pua, to you, it seems like everyone is wrong and you are the only one who is right.
WeLoveDemocracy: The proof is in the money and investment flows. If 1MDB received more money than it invested in PetroSaudi then how can it be a scam?
If investments into Malaysia from Saudi Arabia have increased post-2009, then how can it be a scam?
4Malaysia: I can see lots of Umno cybertroopers submitting comments in support of the 1MDB scandal. The same mindless attacks, without being able to articulate any coherent rebuttal of Pua and the Sarawak Report findings.
Anticonmen: Non-existent assets, a fake joint venture, sham transactions, dubious debt-to-equity conversions or equity-to-debt conversions, fraudulent loans and shady investment havens = big fraud.
Pua is in the Public Accounts Committee. So he has sighted documents of transactions by 1MDB. Why should he fabricate or lie? He is an MP and it is his duty to analyse transactions involving the rakyat's money.
BN cybertroopers do not have the gumption to stand up for the country and the people by demanding good governance and accountability by our leaders in order that all can prosper and not just a few who live lavishly on ill-gotten gains, while the middle and lower-class face hardship.
The real social contract is between the leaders and the people so that the leaders manage the people's coffers honestly and transparently.
What Pua and Pandan MP Rafizi Ramli are doing is for the good of the rakyat as a whole. The rakyat have the right to query and ask questions from the leaders and make them accountable. That is democracy.
Mosquitobrain: It is the duty and responsibility of Pakatan's lawmakers to do the checks and balances on the government’s exorbitant expenditures on behalf of the taxpayers.
Do not expect anything from BN's nincompoop lawmakers. Not one soul would dare expose what his masters have done.
For all those who cannot stomach the facts and gave negative comments regarding this expose, you don't have to wait till the BN government goes bankrupt. Please wake up.
Fair Play: From what Pua said, this appeared to be a fraudulent act to 'milk' 1MDB. Perhaps Buried Hill of Canada could be roped in to assist in the 'investigation'.
IMDB chief Arul Kanda Kandasamy, you have said you 'jumped' into 1MDB with your eyes open. More like your eyes were in blinkers at that time.
Meh: The new CEO keep on harping on the fact that the company made US$488 million and the audit confirmed this. How can there be such a huge return, like a 50 percent gain for a business.
Secondly, was due diligence conducted before the money was paid? Can we see the results of the due diligence report?
Hmmmmmmmm: Indeed, what business did the joint venture supposedly do which generated a profit of US$488 million on a US$1 billion capital?
Mr Malaysian: 1MDB, please sue them and prove them wrong. Otherwise, they will prove your wrongdoing. Either way, the rakyat must know the truth.
Touche: Please also make a police report against accounting firms KPMG and Deloitte for complicity to defraud the rakyat.
Dont Just Talk: Power corrupts and absolute power for has corrupted Malaysia’s 58-year democracy absolutely, which is the reason the country needs a strong opposition like Pakatan Rakyt.
Keep it up Pua, Rafizi Ramli and DAP MP Lim Lip Eng. At the rate that Malaysia is being exploited by corrupt political leaders, is it any wonder why our ringgit is depreciating against the US dollar and the Singapore dollar?
Why is MCA, Gerakan and MIC keeping quiet on 1MDB? See no evil, hear no evil and talk no evil?
2Kali5: Very 'smart' executives entering into a joint venture without due diligence - this really baffles me.
Sinner: It appears that arresting Zunar for his cartoons is more important to the government.
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