What exactly are 1MDB assets in S’pore bank?


Modified 26 May 2015, 1:23 pm

YOURSAY ‘In what forms are these - paper, gold, oil futures and junk bonds?’

Ministry: Najib didn't lie, we amended the reply

Sappu: This smells fishy. How could a statement on a paramount issue like 1Malaysia Development Berhad (1MDB) be casually written by a lowly ministry official without the approval of the finance minister whose job is on the line?

If indeed the minister did not vet through the statement as alleged given the severity of the matter, then the rakyat should seriously question the type of the minister we have put in charge of running our country. It would be little wonder that the country is in a state it is now.

Wg321: Why is the Finance Minister II Ahmad Husni Hanadzlah dishonest? On March 10, 2015 in a written reply in Parliament, PM Najib Razak said the US$1.103 billion (RM3.9 billion) which were held in the Singapore bank is in the form of cash.

This statement had been corroborated by 1MDB president and group executive director, Arul Kanda Kandasamy. On Feb 7, 2015, in an interview with the Singapore Business Times , he confirmed that US$1.103 billion was kept in BSI bank, Singapore, in hard cash.

Both Najib and Arul were forced to tell the truth that there was no hard cash because BSI bank refused to back this lie. They in fact reported this to the Monetary Authority of Singapore.

There is no way Najib can cover this up because Malaysia’s Official Secrets Act does not apply in Singapore.

Patriot1: How can the Finance Ministry issue such a statement in the first place without consent from the finance minister since it involves such a large sum and 1MBD as well?

If it was cleared by the finance minister, how can he be unaware of the error? Does it mean that he is unaware of the transaction despite the fact that the finance minister is also in charge of 1MDB?

Onyourtoes: Before Sarawak Report came out with the news, why was there no clarification on this? I think the intention to mislead was there. You think you can get away with it. Not so simple, my friend.

Now we want to ask you in what forms are those "assets" held in Singapore - paper, gold, oil futures and junk bonds which have all suffered massive depreciation in value? How much are the assets worth now? We demand to know.

Malaysia Ku: These are the definitions of a "lie" according to Umno’s etymology:

Lie (noun, verb) = misquoted, misunderstood, transformation, amended. And the genuine antonyms for a "liar"? A cheat, con-man, deceiver, phoney, Pinochion, trickster, charlatan, faker, snake.

Take your pick. Najib and Umno have owned them all.

GMK: There is absolutely no public confusion, only the Finance Ministry is confused. Everybody knows what ‘cash’ means. It means that it can be readily withdrawn from the bank without any notice given.

This was no mistake but a blatant effort to lie to the public. Telling the truth after a lie does not mean the lie will go away. A lie is a lie - the intention is clear, more so there is still no answer as to where the money has gone.

Saphire: How can Najib be a leader when he cannot answer precisely a simple question like this?

This is the characteristic of a person who has lots of things to hide. One moment the money is parked in the Cayman Islands and next it has been repatriated to Singapore, which is illogical as it should have been deposited in Malaysia.

Now, it is confirmed that it is not cold hard cash, but units. Again, this is mind boggling. What units?

RCZ: The whole country knows that the statements on the assets in Singapore given in Parliament were lies. Our elected opposition representatives had been asking about the money long before former PM Dr Mahathir Mohamad started asking the same questions.

When rendering such reply to the country and in Parliament, there is no justification nor excuse for making this so-called mistake on the nature of the assets (or maybe it's zero value, hence the lie).

The so-called mistake was intentional and the PM got caught for it. He has to face the consequences for lying in Parliament.

This is like Tabung Haji, which lied about buying and not buying the land, and like 1MDB and Arul Kanda, who lied about Jho Low’s involvement and non-involvement in 1MDB.

Smer: "It added that written replies in Parliament are based on information provided by state agencies, which are checked by ministry officers."

Doesn't it stand to reason that therefore the original March reply was also based on the same information and checking?

Changing your statement now implies the information was wrong, not checked or a lie, either of which means someone somewhere screwed up.

JooGuan: And isn't it obvious now that the "money" repatriated from Cayman Islands has to be reside in Singapore instead of Malaysia because it is not real "money" or cash?

Kit P: Will Najib and Ahmad Husni accept to be paid in ‘units’ at the end of this month - ‘units’ which are issued by the Zimbabwe Sovereign Wealth Fund?

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