Why is Abu Dhabi walking away from Malaysia's 1MDB ?

 

This is more than just a tight slap on the face for 1MDB. This is an insult to Malaysia and Malaysians.  

Maybe those in 1MDB, Arul Kanda Kandasamy included, are numb but Malaysians are not dumb. 

If you had any sense of shame you would know that this insult is far more damaging and humiliating than the occasional news of Malaysian drug mules and football bookies (including well connected ones) in foreign prisons.

Below is IPIC's statement to the London Stock Exchange and 1MDB's past promises.

1MDB Debt Settlement Arrangements

On 10 June 2015, IPIC GMTN Limited issued an announcement (RNS Number 7064P) relating to a binding term sheet dated 28 May 2015 (the Binding Term Sheet) and other ancillary documents entered into between International Petroleum Investment Company (IPIC), Aabar Investments PJS (Aabar), Minister of Finance, Inc., Malaysia (MOF) and 1Malaysia Development Berhad (1MDB), in connection with:

1- the extension by the IPIC group of financial support to the 1MDB group at the request of both 1MDB and MOF;

2- the acknowledgement by 1MDB and MOF of the liabilities owed by the 1MDB group to the IPIC group; and

3- the conditional settlement, release and discharge of certain obligations and liabilities between the parties.

Status of the Binding Term Sheet

IPIC has performed all of its obligations to date under the Binding Term Sheet. 1MDB and MOF have failed to perform certain payment and other obligations owed by them to the IPIC group pursuant to the terms of the Binding Term Sheet, including the obligation to pay to IPIC U.S.$1,102,725,000 plus interest accruing under the terms of the Binding Term Sheet.

As a result, 1MDB and MOF are in default pursuant to the terms of the Binding Term Sheet and IPIC's and Aabar's obligations under the Binding Term Sheet have terminated.

1MDB and MOF continue to be bound by their respective obligations under the terms of the Binding Term Sheet, including their continued indemnification of IPIC and Aabar for any non-performance under the Binding Term Sheet and in relation to any claims which may be made against IPIC pursuant to the guarantees entered into by IPIC in respect of certain 1MDB group bond issuances.

Following such default, IPIC and Aabar have engaged with, and extended opportunities to, both 1MDB and MOF to remedy their defaults without success. IPIC and Aabar have now reserved all of their rights under the Binding Term Sheet and are considering their options in relation to this dispute, including referring the matter to the appropriate dispute resolution forum. - London Stock Exchange

Why is IPIC walking away from the world famous (albeit for the wrong reasons) strategic development company which is personally controlled by the Prime Minister cum Finance Minister of Malaysia  Datuk Seri Mohd Najib bin Tun Abdul Razak? 

Shouldn't IPIC be proud to be associated with Najib Razak the famous Prime Minister of Malaysia who has received billions of ringgit in donations from the 'unknowns of Saudi Arabia' ? 

IPIC is wholly owned by the Abu Dhabi Government and they are walking away from the Malaysian Prime Minister controlled 1MDB, which is also wholly owned by the Malaysian Government. 

What does that tell you? 

The guys from Abu Dhabi no longer trust Najib Razak the Prime Minister of Malaysia, do they? 

1MDB can go to hell together with all those conniving criminals but who will end up paying all those debts, the approximately RM50 billion, chalked up by the world famous 1MDB that is wholly owned by the Malaysian Government? Its you and me, most probably via GST.

Maybe Najib is not aware yet of this latest insult from Abu Dhabi as he was busy officiating a new police lock-up system on Monday. 

Whoever digs a pit will fall into it; if someone rolls a stone, it will roll back on them - Bibble.

p/s 

We shall wait for the Saudi Foreign Minister's words of wisdom. He must be aware of this latest lost of trust and confidence by Abu Dhabi too. I'm sure he is. 

Negara dan rakyat akan dibangsatkan jika kita buta hati

Dipaparkan sekali lagi rakaman Bicara Negarawan bersama Tun Dr Mahathir Mohamad di Pasir Gudang, Johor pada 29hb Ogos yang lalu.

Mungkin ahli serta pemimpin Umno akarumbi mempunyai lebih masa yang terluang pada waktu ini memandangkan mesyuarat Majlis Tertinggi Umno yang dinanti-nanti dengan penuh debaran tempohari pun sudah berlalu. 

Perhimpunan Agung Tahunan Umno akan diadakan dari 8 hingga 12 haribulan Disember nanti. 

Pada waktu ini seluruh dunia terkejut dan tertanya-tanya akan berita-berita berkenaan rasuah, pengubahan dana haram, salahguna kuasa dan tuduhan penipuan yang berhubung kait dengan syarikat kerajaan Malaysia 1MDB tetapi mesyuarat induk parti yang menguasai kerajaan diberitakan sebagai telah berjalan lancar dalam suasana setiakawan. 

Ungkapan hidup dalam kepompong mungkin sesuai untuk menggambarkan kealpaan ini.

Syarikat pelaburan Abu Dhabi baru sahaja muncul dalam berita dunia berhubung ghaibnya dana bernilai lebih RM6 billion yang seharusnya merupakan bayaran dari 1MDB. 

Di Malaysia dana USD700 juta (hampir RM3 billion mengikut kadar tukaran semasa) yang tiba-tiba muncul dan kemudiannya ghaib dari akaun peribadi Presiden Umno Datuk Seri MohdNajib Tun Razak masih belum dijelaskan. 

Harus diambil maklum bahawa percubaan demi percubaan telah dibuat untuk mengalih perhatian dan memperbodohkan mereka yang ingin tahu akan dana ghaib USD700 juta dalam akaun Najib tetapi percubaan-percubaan tersebut kekal setakat percubaan kerana rakyat Malaysia masih menunggu kebenaran. 

Nyata Majlis Tertinggi Umno pun sudah tidak bermaya untuk mendesak penjelasan dari Najib kerana sebab-sebab yang diketahui umum didalam dan diluar negara. Mesyuarat MT semalam berjalan lancar. 

Mesyuarat antarabangsa badan-badan pencegah rasuah serta badan-badan bukan kerajaan yang memerangi rasuah dari seluruh dunia diadakan diPutrajaya baru-baru ini. Perdana Menteri Malaysia yang dijadualkan menyampai ucaptama tidak muncul tiba kerana dinasihatkan agar tidak menghadiri mesyuarat antarabangsa tersebut.

Mesyuarat antarabangsa anti-rasuah itu bukan setakat mencalit arang tetapi telah menjatuhkan maruah serta nama baik Malaysia dipersada dunia apabila isu wang ghaib USD700 juta dalam akaun Perdana Menteri Malaysia serta tindakan menyekat penyiasatan rasuah/salahguna kuasa oleh pentadbiran Najib ditimbulkan. Isu itu telah dilaporkan diseluruh dunia dengan pelbagai 'headline' yang amat memalukan tetapi mesyuarat MT Umno semalam berjalan lancar dalam suasana setiakawan.

Sesiapa yang menyoal Najib berhubung dana ghaib USD700 juta dan dana berjumlah lebih kurang RM40 juta dari SRC International akan pasti dibangsatkan oleh Presiden Umno serta para pencacai-nya yang kini telah dinaikkan pangkat. 

Apa yang kita, rakyat Malaysia yang cintakan negara ini, mampu lakukan dalam keadaan yang serba tidak kena tetapi tersekat dari segenap penjuru ini?

Apakah kita harus memekakkan telinga membutakan mata dan hati berdiam diri ketika petualang serta gerombolan yang terbukti kebangsatan mereka terus merompak dan mencabul negara dan masa depan kita? 

Dengar baik-baik penjelasan orang tua berumur 90-tahun dalam rakaman di-atas dan berpeganglah kepada ungkapan #beranikeranabenar dan #muafakatmembawaberkat . 

Ini bukan isu politik kepartian atau isu agama dan bangsa. Ini isu masa depan negara kita. Ini bukan politik, ini isu jenayah.

Malaysia adalah sebuah negara dimana Raja-Raja Melayu pun patuh pada Undang-Undang serta Perlembagaan Persekutuan. Tiada sesiapa pun harus dibenarkan bertindak atau meletakkan diri mereka di-atas Undang-Undang negara.

Jika si-ibu yang mencuri tepung susu untuk anak kecil yang kelaparan pun di-hukum kerana kita patuh pada undang-undang, tidak mungkin individu berpangkat yang mencuri dan merompak khazanah negara dibiarkan begitu sahaja.

Jangan kita buta hati demi kepentingan peribadi.

P.S. Nilai Ringgit Malaysia dah melepasi tahap 4.36sen bagi 1Dolar Amerika namun mesyuarat Majlis Tertinggi Umno masih berjalan lancar dalam suasana aman damai diliputi sifat setiakawan. 

Dr M returns but not United Arab Emirates' billions

Tun Dr Mahathir Mohamad returned home today after a working visit to Jordan and UK. The statesman's arrival, earlier than the scheduled 12.30pm ETA, at the Subang Sky Park terminal was welcomed by hundreds of supporters and well-wishers.

On another note an Abu Dhabi investment fund, linked to scandal-ridden Malaysian investment fund 1MDB, has alleged that USD1.4 billion (approximately  RM6billion at current exchange rate) of their money has NOT RETURNED. 

Once again The Wall Street Journal has this eye-opener for many blind Malaysians. 

By 

BRADLEY HOPE and 

 

TOM WRIGHT

Sept. 8, 2015 7:31 p.m. ET

The corruption scandal around an economic-development fund in Malaysia is spilling beyond the country’s borders, as officials at a United Arab Emirates state investment vehicle raise questions about more than a billion dollars in money that they said is missing.

Abu Dhabi has long been a source of support for the fund, 1Malaysia Development Bhd., which was set up six years ago by Malaysian Prime Minister Najib Razak to develop new industries in the Southeast Asian country. Now, as 1MDB tries to fend off a cash crunch, its backers in Abu Dhabi are asking what happened to a $1.4 billion payment the fund said it made but which they never received, two people familiar with the matter said.

The dispute comes as Mr. Najib is battling a separate scandal linked to 1MDB. Malaysian investigators are examining the transfer of hundreds of millions of dollars into the prime minister’s alleged private bank accounts through entities linked to 1MDB. The disclosures have sparked a political crisis and set off a handful of investigations around the world, destabilizing the government and damaging confidence in Malaysia’s economy.

Mr. Najib has denied wrongdoing and said he didn’t take money for personal gain.

The U.A.E. is trying to sever its ties to the fund and restructure the entity that provided it with financial support, the people said. 

More here in the WSJ