My Anthem

Wednesday, October 03, 2012

Malaysia's monies GONE, unaccounted for...

An Opposition MP revelas at, please visit dare!:)~~~

I know it's a byte late, but badder later than nebber!~~~ YL, Desi


Why So Evasive Over Syed Mokhtar's RM34.3b Debt?

Hazlan Zakaria 1:20PM Sep 27, 2012

The government may be hiding details of a "potential economic disaster" from the public, claims an opposition MP.

"I suspect they are hiding something about the commercial debts of business tycoon Syed Mokhtar Al-Bukhary's (right) business empire.

“It is a potential economic disaster waiting to happen," Petaling Jaya Utara MP Tony Pua said today.

He claimed that the situation was similar to what happened when the Renong group collapsed last time, throwing the national economy into near chaos as its over RM20 billion in debts to local banks turned bad.

As of now, Pua alleged, Syed Mokhtar's group had borrowed over RM34 billion from financial institutions.

He said this in reference to the Dewan Rakyat speaker's rejection of his question on the business tycoon's commercial debts.

Pua lamented during a press conference at the lobby of Parliament that this was the third time the government and the Finance Ministry had pulled a fast one on his queries.

The first was when the ministry refused to answer his written question for information on corporate debts, saying this was "confidential" and on the second occasion, the ministry again  refused to answer the question on this when he brought it up in Parliament.

DESIDEATA: For this newsdog with some brain cells still ticking -- Ms Alzheimer has postponed her visit, thank God! -- so I will try to recall as accurately as possible some banking-cum-corporate shenanigans that tok place some two decades ago (?) when many tycoons were about to go bust, including a senior minister's on who became the "youngest bllionaire" in the country -- and falled off as a role model for the youth in MalaySIE-loh!.

Long story short, this young billionaire on paper was overexposed to the free-falling stock market then, and he could not even service the INTEREST on the bank facilities the had obtained to take control of a great number of LISTED COMPANIES -- hey, he's a GENIUS for his age, so the bakers were falling over each other to lend him loads. This culprit ran and hid -- yes, down under, NOT up yonder, almost though! -- and left his pardner-in-time to holdthe eight-month-old-babe-still-to-serve-time.

Ah, so is this latest scandal revealed by esteemed MP TONY PUA new?

No, it's an olde record being played again, and again, and again -- because it's still the SAME OLDE REGIME oversighting the game remember?

Desi ends with a quote from Albert Einstein, cun? ~~~~

"“Insanity is doing the same thing, over and over again, but expecting different results.”

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