YOURSAY | ‘Eventually, like all Malaysians, I will need to shoulder some of the debts.’

IPIC takes 1MDB, MOF to international arbitration over US$6.5b claim

FellowMalaysian: Abu Dhabi’s sovereign wealth fund International Petroleum Investment Company (IPIC) has set the ball rolling in filing a US$6.5 billion (RM26.6 billion) claim against 1MDB to the London Court of International Arbitration.

This could be the tip of the iceberg which may well trigger an onslaught of other foreign companies and financial institutions caught in 1MDB scandal in making a desperate lunge at the company with more suits arising out of defaults in servicing their loans and other borrowings.

Suffice to say that Najib Razak's Finance Ministry and his pet-project 1MDB has just caught fire and initial perceptions suggest that the prime minister, who has recently scoffed off repeated claims, warnings and assertions by foreign news agencies and including intensive probes by state investigators from six countries into dodgy fund transfers linked to 1MDB as mere “noises” and “perceptions”, will likely face a menacing time in the months to come.

Hplooi: Smell the coffee, 1MDB chief Arul Kandasamy. Smell the coffee, too, attorney-general Mohamed Apandi Ali. This is the real thing.

The whole world knows that the Aabar-1MDB ‘heist of the century’ was perpetuated by top officials of both parties (IPIC and 1MDB). Abu Dhabi is moving aggressively in this direction and they have remanded the alleged thieves from their side.

However in Malaysia, our whole establishment are still in total denial. IMO (in my opinion), this is an open-and-shut case of grand theft and our ruling establishment should move forcefully to minimise the damage and recover the losses by apprehending the culprits.

Dont Just Talk: US$6.5 billion is about RM26.6 billion at today’s exchange rate. What strong liquidity position is 1MDB talking about should London Court of International Arbitration rule in favour of IPIC?

What was those in 1MDB top management thinking when they transferred the sum due to IPIC to Aabar BVI (British Virgin Islands), which is a totally different entity from Aabar PJS?

Hibiscus: It is amazing up till now, Najib does not feel he is responsible for the dire state of 1MDB. This is not the attitude of someone who is honourable.

As a matter of honour, at the very least he should relinquish his position in 1MDB and as finance minister. If 1MDB is a public-listed company, Najib would be sued for CBT (criminal breach of trust) by its shareholders.

Despite the obvious conspiracy to cover up, evidence of wrongdoing attributed to him is too overwhelming. No one will believe him if he says he was not aware of what was happening in 1MDB.

RM2.6 Billion Turkey Haram: Najib, who is going to pay this US$6.5 billion if IPIC wins?

Already the loss is so immense that any responsible leader would be losing sleep, pondering over how best to solve the problems.

He would feel sorry for his people because that huge loss could have uplifted the living standard of thousands of people. To make amend for the loss, he would be thrifty and spending the country's money prudently.

How I wish you are in that class. On the contrary, your expenditure accelerated and even your own wife wasn't cooperative, travelling in style on a chartered aircraft.

Would you not be ashamed if compared with the British PM, who travelled economy class on official duty, and the Canadian PM who pays for his family members to travel in economy class?

Anonymous 2415891461978791: IPIC is seeking an amount equal to 2% of the entire GDP of Malaysia. And I don't think this is even all of the 'missing money'. Much will come out in the arbitration, and that can't be good for Najib.

And I think former IPIC managing director Khadem al Qubaisi and Aabar chairperson Mohamed Al Husseiny are still under house arrest in Abu Dhabi, so the IPIC team must be pretty well informed by now about the scam.

Guna Otak: This is really good news even though, eventually, like all Malaysians, I will need to shoulder some of the debts.

Amateur: Remember the repercussions of 1MDB is not merely the nation's name being shamed internationally.

Most importantly is taxpayers and their future generations are carrying the burden of US$6.5 billion simply due the greed of a certain clique of people.

Former PM Dr Mahathir Mohamad is right to say the Umno Baru members are either blind or being bought over to ignore the alleged scam.

Kamikasi: Yes, Malaysians has an obligation now to hold accountable those men who defended Najib and his alleged bunch of robbers who brought to country to its knees.

The show has started and I hope the Malays will wake up to the reality that they too will pay for the stupidity of people who have been corrupting their minds.

Bravo to DAP and opposition groups who have all these while trying to save the country from bankruptcy.

Armchair Newspaper: But meanwhile, the overwhelming majority voters in Kuala Kangsar and Sungai Besar yawned and couldn't be bothered that they and all Malaysians are the ultimate debtors of this glorious US$6.5 billion mega debt.

Anonymous 2415891461978791: “Monies meant for Aabar was somehow diverted to another company…”

The cheque is in the mail. The dog ate the money. I gave it to someone to give it to you. It is around here some place.

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