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1MDB borrowing from Peter to pay Paul

YOURSAY ‘Is Najib is hocking the country to the Arabs to save his skin?’

 

Dubai white knight gallops to 1MDB's rescue

Sali Tambap: How bad the situation of 1MDB is in can be seen by the fact that it has to take a loan just to pay the interest of its loan.

 

Goodness, any basic trader knows this is really bad. So we have RM2 billion and RM 3.57 billion owed from telecommunication tycoon Ananda Krishnan and UAE's International Petroleum Investment Company (IPIC) respectively.

 

The RM5.57 billion loan is not to reduce 1MDB debt but in fact an addition to what it already owed. It is not 1MDB revenue, it is money owed. 

 

Swipenter: So Najib is hocking the country to the Arabs to save his skin? This means nothing more than exchanging one lender with another one.

 

What are the terms and conditions imposed by IPIC on the Umno Baru government for taking over the RM3.75 billion loan?

 

It does not address the real issues surrounding 1MDB one single bit, like where has all the money gone?

                       

Jesse: This is really a case of borrowing from Peter to pay Paul. How much are they charging for the facility, and who is getting a commission as broker?

 

Any donkey can borrow if you pay high enough fees plus interest?

 

Mosquitobrain: Simple philosophy, there is no free lunch in this world. You've to work for it.

 

Today IPIC comes to 1MDB rescue. You cannot always be that lucky. Eventually, 1MDB will has to pay back all the borrowed money.

 

How and where to source for the money? From Goods and Services Tax (GST), Petronas, Employees Provident Fund (EPF), Tabung Haji?

 

BN-Umno patriotic idiots will in the end put Malaysia up for sale. Then we will eventually end up like living in Timbuktu.

           

Vijay47: Second Finance Minister Ahmad Husni is "pleased" that 1MDB has managed to get a loan to settle the amount owing to the international banking consortium? How does that change anything?

 

1MDB still owes people left, right and centre, and this loan will also have to be repaid. So when that is due, the second finance minister will proudly announce that 1MDB is again pleased to secure yet another loan.

 

Malaysians will be pleased to know the terms and conditions for the granting of the loan by IPIC. Lending money to an almost bankrupt company must come with a heavy price.

 

Ahmad Husni, did you sell Penang to the Arabs?

 

Mushiro: Suddenly IPIC is so generous with their US$1 billion to pay to the international consortium of banks which is demanding early settlement from 1MDB.

 

Husni conveniently did not spell out the terms of IPIC. Before this, 1MDB had agreed to ridiculous terms and rates with other banks and agents, and that was partly how they got into this predicament.

 

Knowing the crooks who are advising 1MDB, the Finance Ministry needs to relook into the terms with IPIC before accepting the loan. But what choice does 1MDB have?

 

FairMind: A company buying land cheaply at below market value and then selling them at above market value should be flushed with cash - not RM42 billion in debt.

 

Any government should not have any business in Cayman Islands, which is known to be a tax haven.

 

Also any government should not sell the nation's assets at below market value at the expense of its citizens for the benefits of a few individuals.

 

Justine Gow: This still does not answer questions that Malaysians have been asking about 1MBD.

 

It also does not change the fact that there may be mismanagement issues and that the company is RM42 billion in debt. Indeed, nothing changes.

 

Wg321: How much interest does this angel investor IPIC charged for the loan of US$975 million (RM3.57 billion) to 1MDB? 10 percent?

 

The debt is transferred from the right hand to the left hand.

 

JD Lovrenciear: Are we selling of this nation in bits and pieces? In business, nobody gives you billions of dollars out of charity or for free.

 

Please pray tell us naive citizens who only know one principle and that is it is our citizens' right and moral duty to defend our nation and keep it safe and secure for citizens, king and generations to come.

 

Or is someone telling us it is none of our business too?

 

Anonymous_3f6d: By the way, how many white knights are out there? Another 40?


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