According to news reports, a restructuring plan is being proposed for 1MDB and the cabinet will be considering it.

What an irony really; 1MDB is just into its operations for a few years but the company is now faced with insurmountable challenges requiring major restructuring. Sometimes I wonder we set up 1MDB to create value or fiascos. Why is it that everything we touched has turned into mud?

It would be really something if we can come up with a restructuring plan within such a short time. It means we know the problems and the solutions very well. But do we?

If solutions can be found so quickly, then why is the company facing endless problems in the first place? At least this is the impression I get if we read the news on1MDB unfolding each day.

Do we really know the problems in 1MDB? If so, can we define and put them in categories? Are problems due to overleverage, buying overpriced assets, making poor and excessive risky investments, impropriety, incompetence, poor oversights, lack of clear corporate objective or  a combination of any of the above?

I am sure each of these problems requires different set of solutions. Some may have no solution at all, like in the case of impropriety, corruption and abuse of power. These are political, not just managerial problems.

If we are not sure of the problems, how do we come up with a road map to get rid of the problems? On what basis is the cabinet going to make the decision?  

By the way, shouldn’t we be interested to know the identities of those entrusted to draw up the restructuring plan? Are they those with vested interests? Are they the ones who created the problems in the first place? Do they know the problems well enough to formulate the solutions? If these solutions are workable, why didn’t they put them in place earlier?

Please don’t misunderstand me, I am just asking questions like most of us. It would appear that everything is now centered on the restructuring plan but given our history of incompetence and fleeting attention span, I just hope that the plan would not become another major problem. The restructuring plan may make the problem worse if we are not careful.