YOURSAY ‘1MDB should be forthright with the facts, not try to shoot the messenger.’

Caymans money’s on the way, 1MDB says

Wg321: Maybank, RHB Bank and other lenders are suckers. 1Malaysia Development Berhad (1MDB) has the money to pay the RM2 billion loan but they are playing delaying tactics in order to earn more interests from the money (RM4 billion or more) parked in Cayman Islands.

If you take a housing loan from Maybank or RHB Bank and you default paying your loan by just one month, they will promptly imposed a penalty plus extra interest on the housing loan you defaulted.

Why are Maybank and RHB so lenient to 1MDB? Why no penalty plus extra interest are imposed on 1MDB for the deliberate delay in the

RM2 billion repayments? RM2 billion is not a small sum of money. No wonder the share prices of Maybank and RHB Bank are falling.

Why is there discrimination against smalltime borrowers by these banks?

Caripasal: There is nothing to shout about on returning the money. It is your legal obligation.

Is 1MDB very proud to tell the world that they have plenty of cash but refuse, whether intentionally or unintentionally, to return the money to pay its debts?

Even if your investment in Cayman generate more interest/dividend than interest that you pay Maybank and RHB Bank (for defaulting debts), the priority is still to pay your debts first. By chasing higher interest rate in the Caymans over paying debts, your reputation is severely damaged.

The repatriation of the fund is way too late. It should have been done months ago. The delay has resulted in falling share prices of Maybank and RHB Bank. It has damaged investors confidence.

However, the return of this money is only the tip of the iceberg of the many problems faced by 1MDB. We want more transparency. Reveal all to the rakyat. You are obliged to do so.

Telestai!: Surely it doesn't take a genius to commence the process of repatriating the funds. I know the funds could have been tied up in some structured instruments but why allow the tenor to go beyond Dec 31, 2014 when the repayment obligations are to be met?

Is 1MDB being run by a bunch of office boys?

Sirach: If the audited accounts stated that "all investments" would be repatriated no later than Dec 31, 2014, it is perfectly in order to question why this was not done.

1MDB should be forthright with the facts not try to shoot the messenger because of the inconvenient truth in his message.

Jesse: If you do not wish those "who are not privy" to make noise, then you should have provided timely and accurate information to the rakyat. It is because of your silence and wheeling and dealing that cause the problem in the first place.

The rakyat are right to suspect that there is something fishy about the whole scheme, and rightly so.

Worse, the PM and finance minister has remained silent while the whole sorry tale unfold. How not to be suspicious? The man with ultimate responsibility hides under a skirt, and allows others to take the heat.

Mushiro: 1MDB chairperson Lodin Wok Kamaruddin and 1MDB are still making statements that "third party individuals" like Petaling Jaya Utara MP Tony Pua do not know the full picture and are making "disingenuous" claims.

But 1MDB has missed paying up on its loans and has not repatriated the US$2.33 billion by Dec 31, 2014 as they promised.

The amount of money involved is colossal, which can affect the Malaysian economy. When they cannot even keep these important commitments, it calls for big concerns.

Louis: Lodin Wok, when the company miss a payment, not only Tony Pua is suspicious, all Malaysians are. To preempt any unnecessary speculation on the state of 1MDB, a press conference should be called to put matter right.

Now, you are asking Pua not to poke his nose, which he has every right, into the company affair. Remember, silence is not an option for a leader. Or are you following your boss, the elegant pantomime PM?

The Analyser: While I'm surprised that anyone could mislead the auditors as Pua claims, I'm equally surprised at the vague imprecise comment, "The process to do so has already commenced, and we will make an announcement as this has been completed."

I'll wager it took no time to get the money out of the country. Then, why does it take so long to get it back?

Tailek: 1MDB should give the facts clearly to Parliament and the rakyat, not send bits and pieces of information out from time to time.

The whole matter is just not transparent enough and changing three auditors over as many years is certainly not helping to clear up this unholy mess.

Odin: This reminds me of the two phrases often used by some business people in Malaysia to lead you on:

1. Your cheque is in the mail.

2. One of the directors whose signature is needed on the cheque is outstation.

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