Showing posts with label fund. Show all posts
Showing posts with label fund. Show all posts

Friday, 13 March 2015

Apa kata Dr M sehingga blog Chedet digodam?

Dibawah adalah tulisan terbaru Tun Dr Mahathir Mohamad berhubung skandal 1MDB yang dimuatnaik dalam blog beliau tengahhari ini, namun blog chedet.cc Dr M telah digodam dan digantung oleh anasir tidak diketahui. 
Apa kata Dr M?
1MDB
1.   UMNO telah mengadakan majlis penerangan tertutup yang dihadiri oleh sebahagian dari Ketua-Ketua Bahagian pada 8 Mac.  Keputusan majlis mengikut akhbar ialah menyokong penuh Presiden parti. 

2. Tidak diketahui tentang penjelasan oleh Presiden berkenaan kontroversi 1MDB, yang sedang dibincang dengan meluas oleh rakyat.  Bahawa perkara ini dibawa oleh parti lawan, justeru itu ia adalah fitnah belaka tidak mencukupi untuk rakyat menolak tuduhan-tuduhan berkenaan 1MDB.
3. Rakyat masih tidak puas hati berkenaan 1MDB.  Mereka bincang perkara ini dimana sahaja.  Jika mereka tidak puas hati dan tidak sokong Barisan Nasional (BN) dalam PRU akan datang,  BN mungkin kalah.  Dan jika BN ditolak, sokongan kepada Presiden oleh pemimpin bahagian UMNO tidak lagi bermakna.

4. 1MDB bukan buat hutang biasa seperti Kerajaan yang biasanya berjumlah hanya ratusan juta sahaja.  1MDB telah hutang berbillion Ringgit. Walaupun 1MDB bukan Kerajaan tetapi ia adalah badan yang ditubuh dan dimiliki oleh Kerajaan sepenuhnya dengan modal sebanyak 1 juta Ringgit. Ada juga jaminan oleh Kerajaan terhadap beberapa hutang IMDB.  Oleh itu Kerajaan tidak boleh dakwa bahawa ini masalah syarikat dan bukan masalah Kerajaan
5. Kerajaan sudah melantik Auditor General untuk memeriksa akaun 1MDB.  Tetapi ini tidak akan menjawab banyak soalan yang telah dikemukakan dan dibincang oleh rakyat.

6. Dakwaan-dakwaan yang telah dibuat terhadap 1MDB bukan berbentuk tuduhan melulu.  Ia disertai dengan fakta yang jelas, iaitu jumlah hutang, siapa yang mengurus, siapa yang menerima wang  berbillion Ringgit, pelaburan yang dibuat, dimana wang ini disimpan, dalam bentuk apa.

7. Nama Jho Low disebut berkali-kali.  Demikian juga nama-nama syarikat miliknya.  Tuduhan dibuat berkenaan dengan pembelian rumah mewah olehnya di London, New York dan Holywood.  Lepas itu rumah dijual kepada anak tiri Perdana Menteri dengan harga ratusan juta Ringgit. Sudah tentu ini tidak disebut dalam akaun 1MDB yang akan diperiksa oleh AG.

8. Pada mulanya duit Riza Aziz dikatakan warisan harta kekayaan dari keluarga Tun Razak.  Kemudian dakwaan ini dinafi. Soalannya jika tidak dari keluarga Tun Razak dari mana datang wang yang banyak ini.  Apakah ianya hasil dari perniagaan?  Jika ya, apa perniagaan, dimana?  Sudahkah cukai pendapatan dibayar?  Kepada Kerajaan mana?

9. Pelaburan ratusan juta untuk filem “The Wolf of Wall Street” oleh Riza Aziz, anak tiri Dato Sri Najib datang dari mana?  Filem ini tidak memberi keuntungan.  Tidak mungkin filem ini membiayai rumah mewah yang dibeli dengan ratusan juta Ringgit atau Dolar Amerika.

10. Semua perkara-perkara ini tidak akan terdapat dalam akaun 1MDB. Tetapi rakyat ingin tahu kerana melibatkan Jho Low.  Dan Jho Low disebut-sebut  berkenaan dengan pengurusan 700 juta USD dari 1MDB.

11. Ada yang disebut berkenaan Petro Saudi yang juga menerima bayaran ratusan juta dolar dari 1MDB  Benarkah Petro Saudi ini mendapat konsesi kawasan minyak dan gas di Argentina, di Turkmenistan dll.  Apa buktinya?  Benarkah JV dibuat dengan Petro Saudi sebelum ‘due diligence’ dibuat. Katanya sementara 1MDB melabur USD1 billion dalam JV dengan Petro Saudi, tetapi Petro Saudi tidak melabur satu sen pun. Apa jadi kepada wang IMDB dalam JV tidak jelas.

12. Apa sebabnya lebih dari 6 billion Ringgit (Dollar) disimpan di Cayman Island?  Kerajaan tidak pernah simpan duit di lain negara selain pembelian bond. Apakah bond dibeli? Apa hasilnya?

13. Katanya wang sebanyak USD1 billion sudah dibawa balik dari Cayman dan disimpan dalam bank Singapura. Kononnya Bank Negara menjadi masalah kerana proses menyimpan wang yang banyak mesti melalui proses yang rumit. Bolehkan Bank Negara jelas kenapa menimbul masalah sedangkan 1MDB adalah syarikat Kerajaan yang dikuasai oleh Kementerian Kewangan. Jika mudah di Singapura kenapa susah sangat di Malaysia?

14. Urusan Kerajaan pernah dirahsia.  Tetapi soal bayar balik hutang adalah public knowledge (dalam pengetahuan orang ramai).  Orang ramai ingin tahu benarkah Ananda Krishnan memberi pinjam RM 2 billion untuk bayar faedah ini.  Apakah faedah yang dikenakan oleh Ananda?  Apa cara bayaran balik hutang Ananda? 1MDB dikatakan untung. Kenapa tidak dapat bayar faedah 2 billion Ringgit.

15. Juga diketahui umum ialah permohonan hutang sebanyak 3 billion dari Kerajaan baru-baru ini.  Apakah Kabinet melulus pinjaman yang begitu besar ini?  Apakah syarat yang dikenakan? Bagaimanakah hutang ini akan dibayar balik oleh 1MDB

16. Tanah Kerajaan di Jalan Tun Razak dan Lapangan Terbang Sungai Besi telah dibeli oleh 1MDB.  Apakah harga yang dibayar?  Apakah tanah ini yang dikatakan asset 1MDB?  Bagaimanakah dinilai harga tanah ini? Kerajaan berhak mendapat pulangan yang setimpal apabila tanah ini dijual kepada sesiapa pun. Berapakah harga satu kaki persegi. Tanah berdekatan dijual dengan harga RM7000/- satu kaki persegi. 1MDB juga membeli tanah di Pulau Pinang. Apa harganya. Apa jenis pembangunan yang dicadangkan. Sudah dimulakah?

17. Jika tanah-tanah ini menjadi aset 1MDB, apakah nilai tinggi aset ini disebabkan kenaikan (revaluation) dari harga belian yang murah dan harga pasaran yang tinggi.

18. 1MDB meminjam lebih dari 10 billion Ringgit untuk beli beberapa stesyen janakuasa.  Harga yang dibayar dikatakan lebih tinggi dari harga pasaran.  Lesen stesyen-stesyen ini akan mati tidak lama lagi.  Kenapa tidak tunggu hingga lesen mati sebelum membeli.  Harga selepas mati lesen tentu amat rendah. Membeli dengan harga tinggi sebelum lesen mati amat merugikan.

19. Wang untuk membeli stesyen janakuasa dipinjam.  Laporan menunjuk komisyen sebanyak lebih dari 10% dibayar kepada Goldman Sachs untuk mengurus penjualan bond.

20. Jika komisyen 10%, 1MDB akan dapat hanya 90% dari jumlah yang dihutang.  Tetapi faedah perlu dibayar keatas 100% jumlah hutang. Ini menghairankan!

21. Biasanya hutang yang dijamin oleh Kerajaan dikenakan faedah 3%.  Hutang yang diurus oleh Goldman Sachs dikenakan faedah sebanyak 5.9%.

22. Jumlah hutang sudah meningkat kepada 42 billion Ringgit.  Faedah keatas jumlah ini, jika hanya 5% pun akan berjumlah 2.6 billion Ringgit setahun.  Ini adalah satu jumlah yang amat besar.

23. Sebaliknya jumlah keuntungan dari pelaburan dalam stesyen janakuasa tidak akan mencukupi untuk membayar faedah ini.  Demikian juga pelaburan untuk beli tanah di Kuala Lumpur dan Pulau Pinang tidak akan beri apa-apa pulangan sebelum di bangun atau dijual.

24. Sesungguhnya 1MDB menimbul banyak soalan tentang pengurusan dan kegunaannya.  Dan jumlahnya juga amat besar.  Rakyat berhak merasa curiga akan cara dan kegunaan wang mereka yang banyak ini.

25. Ulasan bahawa semua tuduhan adalah fitnah tidak mencukupi.  Mereka yang mendakwa bahawa ada penyelewengan dalam pengurusan 1MDB berani membuat kenyataan terhadap Kerajaan dan individu-individu tertentu walaupun terdedah kepada tindakan saman malu.  Tetapi mereka mendakwa mereka memiliki bukti-bukti yang jelas seperti e-mail, surat perjanjian dan bukti-bukti lain. Tarikh dan nama-nama diberi tanpa bersembunyi. Pembohongankah tuduhan mereka!!

26. Sehingga kini Kerajaan tidak menjawab secara yang masuk akal.  Umpamanya 1MDB tidak punyai masalah kerana asetnya lebih dari hutang. Tetapi hanya untuk bayar faedah 2 billion, tidak ada wang sehingga tidak dapat tutup akaun ikut jadual. Kemungkinan terpaksa hutang untuk bayar faedah.

27. Sejak Arul Kanda Kandasamy mengambil jawatan CEO, banyaklah kenyataannya yang tidak munasabah yang dibuat. Kononnya wang di Cayman sudah dibawa balik. Kemudian wang ini tidak boleh bawa balik. Kemudian sudah dibawa balik tetapi disimpan di Singapura.

28. Yang diperlukan bukan audit biasa buku akaun.  Yang diperlukan ialah siasatan forensik oleh polis akan tuduhan yang dbuat terhadap beberapa orang yang terlibat dengan pengurusan wang 1MDB.

29. Jika ini tidak dibuat dan dibuat secepat mungkin, sokongan rakyat yang sudah pun merosot dalam PRU 2008, 2013 akan merosot lagi. Besar kemungkinan BN akan kalah pada 2018, walaupun ketua-ketua UMNO sokong dan terima dengan puas hati penerangan yang dibuat. Ingatlah undi orang UMNO sahaja tidak cukup untuk menang pilihanraya.

p/s Pasti ramai yang akan menuding jari dan tidak akan mengaku terlibat dalam serangan ddos/hacking terhadap blog Dr M tetapi kita boleh agak ini angkara siapa. Ini bukan kali pertama kebaculan sedemikian dipamer untuk tatapan umum. 


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Thursday, 5 March 2015

1MDB - End of the story?

1MDB to be stripped and sold
KUALA LUMPUR: Malaysia's indebted and controversy-ridden state investor 1MDB will be left as a skeletal structure and possibly dissolved under a debt repayment plan in which most of its assets will be sold, sources with direct knowledge of the matter told Reuters.
The power and property fund, a pet project of Prime Minister Najib Razak with assets worth US$14 billion, was hit by losses last year and nearly defaulted on a loan payment. The near-miss drove down the ringgit currency and Malaysian government bonds and prompted calls from opposition leaders to make the fund's accounts more transparent.
The state fund's 42 billion ringgit (US$11.6 billion) debt includes a US$3 billion bond sale in 2013 that was one of the largest global issues from Southeast Asia.
Under the aggressive restructuring plan, crafted by new boss Arul Kanda and blessed by the government, the fund will sell 80 percent of its power unit Edra Energy via a stock market listing, three sources with direct knowledge of the situation told Reuters.
More than 18 billion ringgit of 1MDB's debt linked to its power assets would go under Edra Energy ahead of the listing, which is due to be kickstarted in 6-9 months time, the sources said.
The fund, which has Najib as chairman of its advisory board, will also sell the bulk of its land assets and stakes in two high-profile property projects, Tun Razak Exchange (TRX) and Bandar Malaysia, after splitting them into separate entities, as already partially indicated in a strategic review unveiled last month.
The Finance Ministry, which is headed by Najib and is the sole owner of 1MDB, did not respond to a request for comment. - Singapore's CNA has the Reuters article.
I hope the Auditor General starts hiring forensic accountants and other relevant experts to audit 1MDB before the horse bolts. 

The above report, served just a day after Cabinet decided to call in the Auditor General and the Public Accounts Committee to vet 1MDB's accounts, is certainly interesting to note.

The Prime Minister himself has assured that the law will take its course if there are any wrongdoings. 

Both the Cabinet decision and Najib's assurance are moves in the right direction but Reuters basically says 1MDB will be stripped and sold, including those vast pieces of Government-owned land. Really?  

If the 'stripping and selling' is indeed true, it could be some sort of a desperate recovery plan. I don't quite understand a recovery by selling government land (we shall leave it for another day). 

But is it the end of the story? Why sell if your critics are just a bunch of lunatics who don't understand finance?
  
p/s I'm sure 1MDB would issue a quick rebuttal if the Reuters news is not true. 


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Thursday, 5 February 2015

1MDB Tong-Taek battle

First came this EXPOSE after a certain Malaysian mainstream media and several writers went on overdrive to turn Tong upside-down and blame him for the falling Ringgit. 

Even Prime Minister Najib Razak took time to comment on unfounded/not verified allegations of anonymous blogs against Tong.- An utterly ill-advised, premature act of a Prime Minister who is also Finance Minister.

Then came the denial (scroll down) from Mr Taek, a man who is closely linked to the powers that be and their baby 1MDB.


EXPOSED! Pro-Jho Low blogger behind attacks on Dr M, Nazir and Edge owner Tong

BY THE EDGE MALAYSIA Published: 3 February 2015 6:30 PM

A Google cache snapshot of 'kronismemahathir.wordpress.com/author/ahrily90/' as appeared on January 16, 2015, vilifying former prime minister Tun Dr Mahathir Mohamad and sons Mokhzani, Mukhriz and Mirzan. – February 3, 2015.

The anonymous blogger of malaysianexpose.wordpress.com behind the baseless attacks on Tong Kooi Ong and The Edge Media Group is also behind similar vicious onslaughts on Tun Dr Mahathir Mohamad and Datuk Seri Nazir Razak, while running other blogs which published complimentary articles on businessman Jho Low, investigations showed.
One common thread behind the attacks appears to be the fact that The Edge has been publishing exposes about state investment vehicle 1Malaysia Development Bhd (1MDB), while former prime minister Dr Mahathir has been openly critical of it, even saying it was unnecessary and should be shut.

Nazir, who is chairman of CIMB Group, has in private conversations expressed concerns that the massive RM48 billion debts of 1MDB is posing a big risk to the economy and banking system should it fail. In an interview with The Star in December, 2013, Nazir also said he was worried about how 1MDB will be able to develop the Tun Razak Exchange (TRX) given the glut in office space.

The blogger did not just attack Dr Mahathir, but also his sons – businessmen Tan Sri Mokhzani and Datuk Mirzan, and Kedah Menteri Besar Datuk Seri Mukhriz. The blogger also attacked former finance minister Tun Daim Zainuddin, who voiced reservations about 1MDB.

In the case of Nazir, his wife and children were also the subject of slander.


A Google cache snapshot of http://kronismemahathir.wordpress.com/author/ahrily90/ as appeared on January 16, 2015, targeting former finance minister Tun Daim Zainuddin. – February 3, 2015.

On the other hand, the Penang born 30-something Low Taek Jho, also known as Jho Low, was involved in the setting up of the Terengganu Investment Authority (the precursor to 1MDB).

He is said to still wield considerable influence at 1MDB because of his close relationship with the Abu Dhabi parties which have multi-billion ringgit dealings with the controversial debt-laden company owned by the Ministry of Finance.

Low, often seen at big spending parties with Hollywood celebrities like Paris Hilton and Leonardo Di Caprio, has business dealings with 1MDB, including a failed £1 billion (RM5.6 billion) bid for the UK hotel group Coroin Ltd in 2011. 1MDB had provided a letter of support for Low’s Wynton Group to buy Coroin, which owns several hotels including Claridge's.

Low made the bid together with his friend Sheikh Mansour Zayed of Abu Dhabi, who is also the owner of English Premier League club Manchester City. But they failed as some of Coroin’s shareholders did not think their proposed high debt leverage deal (which is also typical of 1MDB deals) could work.


A Google cache snapshot of http://kronismemahathir.wordpress.com/author/ahrily90/ as appeared on January 16, 2015. – February 3, 2015.

But Low and Sheikh Mansour, who bought small stakes in Coroin before attempting to buy everything, are believed to have walked away with a tidy profit after they sold their stakes to the eventual buyer.

1MDB has never explained why it provided the letter of support, which surfaced during a court case in London involving squabbling Coroin shareholders, to help Low.

The Edge Media Group in the past year published several exposes about the affairs of 1MDB, including 1MDB’s support for Low to buy Coroin and a RM1.38 billion land purchase in Penang, a week before the 2013 general election, from businessmen close to Low and his father Tan Sri Larry Low Hock Peng.

The Edge reported that 1MDB had overpaid for the parcels of land which have a number of encumbrances and that it will lose a lot of money to build 9,999 affordable homes, because of the high land cost and cost to evict a few thousand homes that have been there since the 1950s.

The anonymous blogger used the public display and user name "ahrily90" and he wrote at the following blogs since mid-2014:

kronismemahathir.wordpress.com

politikukus.wordpress.com

These two blogs have attacked Mahathir since July last year.

"ahrily90" also wrote on two blogs which targeted Nazir:

kamibukanbodohtau.wordpress.com

corruptednazirrazak.wordpress.com


A snapshot of http://kamibukanbodohtau.wordpress.com/author/ahrily90/ on January 30, 2015. – February 3, 2015.

A snapshot of http://todayinbusiness.wordpress.com/author/ahrily90/ as appeared on January 30, 2015. – February 3, 2015.

The same blogger also wrote on three blogs which praised 1MDB and Jho Low:

bisnes2malaysia.wordpress.com

todayinbusiness.wordpress.com

worldofcorporate.wordpress.com

Various articles were written which described him as global investor and philanthropist through his Hong Kong firm Jynwel Capital Limited. His philanthropic efforts were said to include US$20 million to save wild cats and US$50 million to a university cancer research centre.

Several articles touched on his many successful deals, including helping Kuwait Finance House to buy the Oval luxury apartment in Kuala Lumpur, which it then sold for a US$20 million profit. He was also reported to have bought the L'Ermitage Beverly Hills hotel and last year made a bid to buy sports brand Reebok for US$2.2 billion.

One article was headlined "Jynwel Capital: Rooted in the Past, Invested in the Future" while another read "Entrepreneur and Philanthropist's Generosity Inspires at Children's Ball".

todayinbusiness.wordpress.com and worldofcorporate.wordpress.com were taken down last week but what "ahrily90" wrote can be seen in the Google cache of these blogs.

"ahrily90" has changed his WordPress public display name and user names for the various blogs last week to "julijulipeh", "Pen Jingga", "saberarturia18", and "rahmanirwan74".

"ahrily90" has also contributed articles at lowtaekjho.wordpress.com. This blog too has been deleted by its authors.

A snapshot of the results of a Google search of the keywords ‘lowtaekjho’ and ‘WordPress’ today. – February 3, 2015.

The person behind all these blogs has realised he has been discovered and is now trying to cover his tracks by repeatedly changing his public display and user names.

He is also trying to decouple the various blogs.

But anyone who searches for "ahrily90" on Google will be able to find evidence that links them all together and points to him as the person behind the attacks on Dr Mahathir and Nazir since mid-2014, and most recently Tong and The Edge Media Group and The Malaysian Insider.

And it all has to do with criticism of 1MDB.

So who is paying him to do it? – February 3, 2015.

A snapshot of https://malaysianexpose.wordpress.com/2015/01/28/how-tong-kooi-ong-is-attempting-to-break-bank-negara-and-crash-the-rm/ as appeared on January 29, 2015. – February 3, 2015.- See more at: http://www.themalaysianinsider.com/malaysia/article/exposed-pro-jho-low-blogger-behind-attacks-on-dr-m-nazir-and-tong#sthash.8bxxqEO9.dpuf

Then came this DENIAL from Mr Taek

Jho Low denies links with blogger attacking Dr M, Nazir and Tong

Published: 4 February 2015 8:59 AM
The Malaysian Insider expose yesterday linking businessman Low Taek Jho to an anonymous blogger attacking Tun Dr Mahathir Mohamad, Datuk Seri Nazir Razak and The Edge publisher Datuk Tong Kooi Ong. – February 4, 2015.

Businessman Low Taek Jho has denied being part of attacks by an anonymous blogger against Tun Dr Mahathir Mohamad, Datuk Seri Nazir Razak and The Edge publisher Datuk Tong Kooi Ong, saying he respected the trio for their professional achievements.

A spokesman for the businessman also known as Jho Low said he has asked his lawyers to look into The Malaysian Insider's expose about a blogger registered as ahrily90 who had blogs praising him and 1Malaysia Development Bhd (1MDB) projects while criticising the retired prime minister, banker Nazir and Tong, who owns The Edge Media Group.

"This article wrongly suggests that Mr Low was somehow involved in the press attacks by an anonymous blogger on Tun Dr Mahathir Mohamad, Datuk Seri Nazir Razak, and Datuk Dr Tong Kooi Ong.

"This is preposterous and completely false," the spokesman said in a statement sent to The Malaysian Insider, referring to the article headlined "EXPOSED! Pro-Jho Low blogger behind attacks on Dr M, Nazir and Edge owner Tong".

"Mr Low respects these individuals for their professional achievements.

"Given the false and improper innuendos made against Mr Low in this report, this matter has been referred to his lawyers," the spokesman added.

The Edge Malaysia reported that the blogger of malaysianexpose.wordpress.com behind the baseless attacks on Tong and The Edge Media Group was also behind similar vicious onslaughts on Dr Mahathir and Nazir, while running other blogs which published complimentary articles on Jho Low.

One common thread behind the attacks appeared to be the fact that The Edge had been publishing exposes about state investment vehicle 1MDB, while Dr Mahathir had been openly critical of it, even saying it was unnecessary and should be shut.

The anonymous blogger used the public display and user name "ahrily90" and he wrote at the following blogs since mid-2014: kronismemahathir.wordpress.com and politikukus.wordpress.com that have attacked Dr Mahathir since last July.

"ahrily90" also wrote on two blogs which targeted Nazir: kamibukanbodohtau.wordpress.com and corruptednazirrazak.wordpress.com.

The same blogger also wrote on three blogs which praised 1MDB and Jho Low: bisnes2malaysia.wordpress.com, todayinbusiness.wordpress.com and worldofcorporate.wordpress.com. – February 4, 2015. - ENDS

The time has come for the Finance Minister to open 1MDB's books for scrutiny .There is no other option but to come clean IF you are indeed clean. 

Almost every other conversation in the last one week or so have been centered around this latest development in the unfolding twists and turns brought about by the now scandalous Malaysian WEALTH fund -1MDB. 


Another police report has been lodged against the newly minted 1MDB CEO while the previous CEO who quit abruptly has been completely silent. At the background, an amateurish attack was launched against The Edge's owner Tong Kooi Ong. Tong, an old hand at many things in Malaysia and a veteran of the 'world of Malaysian finance/bank/sharemarket' was being portrayed as a Soros-like rouge. Some accused him for being the cause for the depreciating Ringgit. 
From the start the attacks which came via the Media Prima stable appeared to be insulting the intelligence of Malaysians. Not only that those commenting on TV3 and the newspapers lacked credibility but the issue itself appeared nothing but a cheap attempt to find a scapegoat. The whole issue spun by Media Prima was based on the writings of an anonymous blogger who is believed to be on the run now.  How's that for professionalism. The fact that Najib was asked to comment on such unfounded allegations while Bank Negara was silent all along is testimony to the level of professionalism.
I dont think the Prime Minister is stupid. I don't know what to think. 
While the Media Prima stable continues to run in circles drawn by the boss' operative, Tong has gone straight to the root cause of the stupid charade.
Tong has pointed direct at a pro-Jho Low Taek blogger who seems agitated that 1MDB is being scrutinised. Tong has also unearthed the same bloggers attacks against all others who questioned the scandalous fund. 
Tong, as veterans in the industry tell me, is not a rookie. A banker says 'The aggressive Taek is not as aggressive as Tong of the 80s. He was a brash, smart and well connected young man. So Jho Low Taek better be careful with who he messes with. Tong knows the 1MDB story inside out'.  
Tong, the banker says, has the resources and necessary network to trace the trail left behind by any young punk in the industry. 
The 1MDB Tong-Taek battle has begun. Sit back and cover your nose. 
p/s Tun Dr Mahathir also thinks that Tong is being targeted because of his media group's decision to scrutinise 1MDB. In the meantime, Moody's the much sought after and glorified rating agency is being probed in the US for not telling the truth about the economy. 


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