Najib S Imaginary 1mdb Profits


 


MP SPEAKS | Last week I said former prime minister Najib Abdul Razak was making a complete fool of himself by showcasing how financially illiterate he was, after claiming that the government could redeem 1MDB bonds early to save on interest.
This, as I have previously responded, is not practically possible as bonds are structured very differently from loans taken from banks.
Yesterday, Najib claimed that 1MDB could have instead made RM9.7 billion in profit. This statement only confirms that our former finance minister is indeed financially illiterate.
Najib wrongfully argued that, since there were only RM17 billion of debts to be repaid, if we were to sell Bandar Malaysia for RM12 billion, and enforce the Abu Dhabi guarantee of US$3.5 billion (RM14.7 billion), 1MDB would make a profit of RM9.7 billion.
Firstly, a first-year accountancy student will be able to educate Najib that the latter has completely confused a company’s ‘balance sheet’ with its ‘profit and loss’ statements.
A ‘balance sheet’ typically records a company’s assets and debts, while the ‘profit and loss’ talks about 1MDB’s accumulated revenue (very little) and cost (including massive interest expenses) over the past 13 years. Najib has completely messed up the two.
Guarantees don’t work like that
Secondly, it is utter stupidity to say that if the Abu Dhabi guarantee of US$3.5 billion could be enforced, and that’s a very, very big ‘if’ – the matter is in UK courts at this point of time – then 1MDB gets away scot-free, and will get to keep its remaining assets. Guarantees don’t quite work that way.
Najib has perhaps forgotten that he, as the former finance minister, signed a back-to-back guarantee with Abu Dhabi, on behalf of the Malaysian government.
This means that if 1MDB failed to repay the US$3.5 billion bond, and Abu Dhabi was required to fulfil the guarantee, then Abu Dhabi can make the claim against both 1MDB (whose current assets don’t add up to anywhere near US$3.5 billion) and the Malaysian government. So the rakyat would have to pay, regardless of the guarantee.
Yes, that is the extent of Najib’s idiocy.
Bandar Malaysia land
Thirdly (do I really need a thirdly?), he also seems to have forgotten that the Bandar Malaysia land was owned by the government, even before it was sold to 1MDB for a song (at RM72 per square feet).
Hence if the Bandar Malaysia land can indeed be sold for RM12 billion, the entire proceeds should be kept by the government for other development projects and welfare benefits. Why should it be used to pay 1MDB debts when 1MDB had added zero value onto the land?
Sizeable chunk ‘misappropriated’
Najib has shamelessly ignored the fact that the reason the remaining debts that the government still has to repay is ‘only’ RM17 billion, is because after he was deposed in 2018, the subsequent governments successfully recovered a sizeable chunk of the money Najib “misappropriated” (diseleweng) – to quote Finance Minister Tengku Zafrul Abdul Aziz’s reply in Parliament yesterday.
Will Najib please respond to the fact that he “misappropriated” the tens of billions of ringgit which the Pakatan Harapan and subsequent government successfully recovered from those who were complicit in his crimes against the Malaysian people – Goldman Sachs, Low Taek Jho, better known as Jho Low, and his friends, Ambank and even auditors, KPMG and Deloitte Malaysia.
What about the fact that the United States FBI investigator testified in former Goldman Sachs employee Roger Ng’s corruption trial yesterday that Najib received US$756 million from the funds stolen from 1MDB?
Or is Najib going to continue to give his hilarious excuse that it was “donations from Arab royalty”?
Or better still, that he didn’t know where the money was from, or why it was deposited, but he spent some of it anyway, reportedly on expensive jewellery, birthday presents for his wife, or luxury holidays as well as buying political support in Umno and for elections. - Mkini
TONY PUA is the Damansara MP and DAP national publicity secretary.
The views expressed here are those of the author/contributor and do not necessarily represent the views of MMKtT.


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2022/03/najibs-imaginary-1mdb-profits.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
1mdb S Debts Guaranteed By The Govt Muhyiddin Reminds Najib

1mdb S Debts Guaranteed By The Govt Muhyiddin Reminds Najib

papar berkaitan - pada 8/3/2022 - jumlah : 495 hits
When 1MDB failed to pay its debts it was the government that had to step in says Muhyiddin Muhyiddin Yassin today continued to question Najib Razak s claim in the Dewan Rakyat last week that the people s money was not used to pay 1MDB s deb...
Hutang 1mdb Saya Akan Jelaskan Di Parlimen Lepas Prn Johor Najib

Hutang 1mdb Saya Akan Jelaskan Di Parlimen Lepas Prn Johor Najib

papar berkaitan - pada 9/3/2022 - jumlah : 148 hits
malaysiakini comBekas Perdana Menteri Najib Razak berkata dia akan memberikan penjelasan kepada Dewan Rakyat berhubung kenyataannya bahawa hutang 1MDB tidak dibayar menggunakan wang pembayar cukai selepas pilihan raya negeri Johor selesai B...
Speaker Orders Najib To Explain Misleading Statement On 1mdb Debt Repayment

Speaker Orders Najib To Explain Misleading Statement On 1mdb Debt Repayment

papar berkaitan - pada 8/3/2022 - jumlah : 141 hits
Former prime minister Najib Razak has been ordered to explain the allegation of misleading the Dewan Rakyat when he claimed not a single sen of public funds was used by the government to repay the 1Malaysia Development Berhad principal debt...
Najib Diminta Perjelas Kenyataan Berkait 1mdb Dikata Kelirukan Dewan Rakyat

Najib Diminta Perjelas Kenyataan Berkait 1mdb Dikata Kelirukan Dewan Rakyat

papar berkaitan - pada 8/3/2022 - jumlah : 226 hits
malaysiatoday com March 7 2022 7 45 PMUcapan Najib Razak di Dewan Rakyat pada 2 Mac dikatakan mengandungi kenyataan mengelirukan berkaitan isu hutang 1MDB KUALA LUMPUR Bekas Perdana Menteri Najib Razak diminta memberi penjelasan kepada Dewa...
Najib S 1mdb Audit Trial This Week Shelved As Lawyer Required To Quarantine After Overseas Trip

Najib S 1mdb Audit Trial This Week Shelved As Lawyer Required To Quarantine After Overseas Trip

papar berkaitan - pada 7/3/2022 - jumlah : 182 hits
Datuk Seri Najib Razak is pictured at the Kuala Lumpur High Court March 7 2022 Picture by Firdaus LatifKUALA LUMPUR March 7 Former prime minister Datuk Seri Najib Razak s trial over the alleged tampering of the auditor general s audit repor...
Speaker Apologises For Giving Najib Another Week To Explain 1mdb Debts

Speaker Apologises For Giving Najib Another Week To Explain 1mdb Debts

papar berkaitan - pada 9/3/2022 - jumlah : 132 hits
PARLIAMENT Dewan Rakyat speaker Azhar Azizan Harun apologised to parliamentarians today for granting Najib Abdul Razak another week until next Tuesday to provide an explanation on 1MDB debts This came after Tony Pua and opposition leader An...
Speaker Mohon Maaf Beri Najib Lebih Masa Perjelas Kenyataan 1mdb

Speaker Mohon Maaf Beri Najib Lebih Masa Perjelas Kenyataan 1mdb

papar berkaitan - pada 10/3/2022 - jumlah : 197 hits
freemalaysiatoday com March 9 2022 1 37 PMAtas permintaan Speaker Dewan Rakyat Azhar Harun memberi Najib Razak lebih masa untuk menjelaskan kenyataannya berhubung 1MDB kerana beliau sedang berkempen bagi calon BN di Johor KUALA LUMPUR Speak...
Src Judge Should Have Disclosed Role In 1mdb Loan Najib S Lawyer

Src Judge Should Have Disclosed Role In 1mdb Loan Najib S Lawyer

papar berkaitan - pada 15/3/2022 - jumlah : 148 hits
Judge Mohd Nazlan Mohd Ghazali should have recused himself from hearing Najib Abdul Razak s RM42 million SRC International corruption trial said the ex premier s lawyer Muhammad Shafee Abdullah said this is because the then Kuala Lumpur Hig...
Report Fbi Officer Tells Court Jho Low Stole Us 1 42b Of 1mdb Money While Najib Received Us 756m

Report Fbi Officer Tells Court Jho Low Stole Us 1 42b Of 1mdb Money While Najib Received Us 756m

papar berkaitan - pada 15/3/2022 - jumlah : 137 hits
Datuk Seri Najib Razak reaped US 756 million of the US 6 5 billion raised in the bond offerings Federal Bureau of Investigation agent Eric Van Dorn testified that fugitive financier Low Taek Jho or Jho Low the alleged mastermind of the 1MDB...
Villa K By Kiryu Atelier T Architects Co In Toyota Japan

Sunway Pyramid Transforms Into An Ultraman Paradise

8 Rahasia Kapal Selam Yang Tidak Boleh Diketahui Musuh

Cara Connect Keyboard Dengan Samsung Galaxy Tab A 8 0 2019 Sm T295

Beras Kesihatan Dan Masa Depan Mampan

Berhenti Menjadi Anai Anai Dalam Kerajaan

Kacang Tanah

Hiburan Siti Nurhaliza Dikecam Aktivis Anti Isr El Gara Gara Buat Persembahan Di Konsert David Foster



10 Fakta Biodata Aniq Durar Pelakon Drama Berepisod Dua Darjat Slot Akasia TV3 Gandingan Sharifah Rose

Info Dan Sinopsis Hierarchy Netflix TV Series Kdrama 2024

Info Dan Sinopsis Drama Berepisod Dua Darjat Slot Akasia TV3

Pakej Halal Murah Acheh Pulau Sabang Indonesia 4H 3M Tahun 2024

10 Filem Korea Terbaru Best 2023 2024 Boleh Tonton Secara Online


If Economy Is Doing Well Why Don T Malaysians Feel It

The Good The Bad The Ugly Of Diesel Subsidy Cut Beware Of Rm4 Billion Savings Plundered By Opposition Pn

Pertama Kali Kerja Malam

221 Ada Perkara Yang Perlu Di Tuliskan Iri Hati

Millie Gibson S Legs And Feet In Tights 2

Filem Takluk Lahad Datu