Let me recount some news-watchers like Desi's catching the "words" of 3 recent important people/Malaysians:~~~
FIRST from the Star Online dated 2 April 2015, and perhaps later from the original blogpost from chedet.cc,5-starred ***** below:~~
Nation
Published:
Thursday April 2, 2015 MYT 4:09:00 PM
Updated: Thursday April 2, 2015 MYT 9:40:51 PM
Updated: Thursday April 2, 2015 MYT 9:40:51 PM
Dr M lets loose on BN's future, Altantunya murder, jet purchase
 |
 |
 |
 |
 |
In a strongly worded statement posted on his blog, chedet.cc on Thursday, Dr Mahathir said many members and leaders from Umno supported Najib blindly.
“When Umno loses, Malays will criticise the leadership for making the sacred party weak until it is rejected by the Malays themselves.
“Once Umno loses, it can never recover,” warned Dr Mahathir.
“It is not easy for me to write this blog, but from the people and the country, I have to reveal all this.
“I am not senile although I am nearly reaching 90 years old. Those who say I am senile are just lying to themselves.
“Malays will only be safe if they care for their community instead of themselves,” he said.
Dr Mahathir claimed that people from all races would no longer trust Najib because he did not answer the accusations hurled at him.
Among the accusations were those involving the murder of Mongolian model Altantuya Shaariibuu, the 1Malaysia Development controversy and the purchase of a private jet for VVIP use.
On the murder of Altantunya, Dr Mahathir said it was tied to the purchase of submarines and now two police officers were freed of the charge, then later found guilty after the court ordered a re-trial.
Dr Mahathir asked why was it that only one of the accused was in custody (awaiting the death sentence imposed by the court) while the other accused, Sirul Azhar Umar, was now in Australia.
Sirul Azhar, Dr Mahathir pointed out, had made a statement that he was under orders to commit the killing of Altantunya and the public had been asking "who ordered the killing."
Dr Mahathir said as Sirul was a personal bodyguard of Najib, his claims had to be investigated as to who ordered the killing.
He asked why no investigation was carried out on the claims.
On IMDB, Dr Mahathir said there were many allegations and questions against the firm which was set up by Najib as the adviser that have not been answered.
Among others, Dr Mahathir said questions remained unanswered as to the low purchase price of government land that was bought by 1MDB.
The government incurred massive losses on the prices that did not reflect the market value, he said.
He also said if 1MDB was profitable why should it borrow just to pay interest of RM2bil. Why was government funds given to the firm, he said.
He also wrote about the deal with little-known oil company, PetroSaudi International, Najib's stepson Riza Aziz and Malaysian businessman Low Taek Jho - topics which he had dealt with in a previous posting.
On the new jet, Dr Mahathir said the purchase of the luxury jet was made eventhough the government was now faced with shortage of funds.
He noted that it was public knowledge that government aircraft were not only used for official functions but for the personal use of "Datuk Sri and Datin Sri."
In these present uncertain economic times, when the people had to pay higher taxes and with the value of the ringgit depreciating, Dr Mahathir questioned as to why the government was spending hundreds of millions of ringgit on the jet when it already had a fleet at its disposal.
*****
TOTAL VISITORS FROM 2008:
14,011,211
14,011,211
UMNO dan PRU 14
Written by 
1. Ramalan oleh masyarakat sekarang ialah UMNO dan BN akan kalah
Pilihanraya Umum ke-14 kerana terlalu banyak tuduhan yang dibuat
terhadap Najib yang tidak dijawab olehnya.
2. Ia bermula dengan kes pembunuhan Altantuya, wanita Mongolia yang terlibat dengan skandal pembelian kapal selam.
3. Dua orang anggota polis dituduh menembak mati wanita berkenaan, dibicara, didapati bersalah, kemudian didapati tidak bersalah dan dibebaskan. Kemudian dibicara semula dan dikena hukum bunuh.
4. Seorang daripada mereka berada dalam tahanan tetapi Sirul seorang lagi berada di Australia. Dia membuat kenyataan bahawa dia diarah untuk membunuh.
5. Rakyat tertanya-tanya siapa yang memberi arahan. Sebagai pengawal peribadi Dato Sri Najib, dakwaan Sirul perlu disiasat untuk menentukan siapa yang memberi arahan. Tetapi selain daripada Najib berkata Sirul “merepet”, tidak ada siasatan yang dibuat. Ini adalah nyawa manusia. Amatlah zalim jika Sirul dibunuh kerana menjalankan arahan.
6. Kemudian kes 1MDB. Tuduhan penyelewengan dalam urusan wang berbillion Ringgit oleh Jho Low telah dibuat dengan bukti-bukti yang jelas. Tuduhan ini tidak dijawab selain dari berkata ia adalah pembohongan.
7. Kononnya aset 1MDB berjumlah 52 billion sedangkan hutang hanya 42 billion. Aset tidak jadi keuntungan sebelum dijual (dicairkan). Kenapa untuk membayar faedah sebanyak 2 billion pun terpaksa hutang dari Ananda Krishnan. Kalau 1MDB tidak rugi kenapa terpaksa hutang. Kenapa wang Kerajaan sebanyak 1 billion diberi kepada 1MDB setelah hutang dibayar?
8. Kononnya wang yang disimpan di Cayman Island sudah dibawa balik. Tetapi separuh disimpan dalam bank Swiss (BSI) di Singapura. Di mana pergi separuh lagi dari 6 billion? Kenapa wang ini tidak diguna untuk bayar faedah 2 billion.
9. Kononnya disimpan di Singapura kerana Bank Negara akan menyoal simpanan lebih dari 50 juta. Jikalau duit itu duit kita yang hanya disimpan di Cayman, apa masalahnya menjelaskan kepada Bank Negara punca wang itu. Lagi pun duit ini dimiliki oleh 1MDB yang dikuasai penuh oleh Perdana Menteri yang juga Menteri Kewangan.
10. Soalan-soalan lain berkenaan 1MDB tidak dijawab selain daripada berkata asetnya besar. Soal harga tanah Kerajaan yang dibeli oleh 1MDB tidak dijelas. Sudah tentu jika dibeli dengan harga yang murah dan dinaik nilai berkali ganda, aset ini menjadi besar. Tetapi Kerajaan rugi banyak dengan tanah miliknya dijual dengan harga yang tidak mencermin harga pasaran.
11. US$700 juta dibayar kepada Petro Saudi untuk apa? Sudahkah ditentukan Petro Saudi memiliki konsesi kawasan minyak dan gas di Argentina dan Turkmenistan sebelum membayar wang yang begitu banyak.
12. Jho Low dilapor dalam New York Times, London Times dan Sarawak Report terlibat dalam pengurusan berbillion Ringgit duit 1MDB. Siapa dianya Jho Low yang begitu dipercayai oleh Dato Sri Najib. Pegawai Malaysia yang dilantik mengurus dana 1MDB mengaku mereka diarah oleh Jho Low yang mendakwa ia mendapat kepercayaan penuh dan arahan dari Dato Sri Najib.
13. Gambar-gambar Jho Low dan kelakuannya, umurnya yang amat muda serta cara hidupnya tidak menggambarkan peribadi yang menyakinkan orang ramai. Tetapi dia dilapur membeli rumah di New York dan Hollywood beratus juta Ringgit. Kemudian rumah-rumah ini dijual kepada anak tiri Najib dengan harga ratusan juta Ringgit bagi setiap satu kerana kononnya Jho Low telah jumpa rumah yang lebih indah di Hollywood yang harganya lebih tinggi.
14. Dari mana datangnya duit beratus juta kepada Riza Aziz tidak dapat dijelas. Keluarga Tun Razak termasuk Najib menafikan duit ini adalah dari keluarga. Pelaburan ratusan juta dalam filem “Wolf of Wall Street” oleh Riza datang dari mana?
15. Dan banyaklah lagi tuduhan dan soalan terhadap 1MDB yang ditubuh oleh Dato Sri Najib dan dikuasai sepenuh olehnya sebagai penasihat yang tidak dijelas dan dijawab selain dari menafi dan mendakwa semuanya bohong belaka. Laporan-laporan dalam akhbar di New York dan London amat memalukan negara.
16. Sementara itu, walaupun Kerajaan menghadapi kekurangan wang yang besar dan terpaksa hutang, Dato Sri Najib sebagai Perdana Menteri membeli sebuah lagi pesawat mewah. Umum mengetahui pesawat ACJ319 yang sedia ada diguna bukan sahaja untuk tugas rasmi tetapi sebagai kenderaan peribadi untuk Dato Sri dan Datin Sri.
17. Dalam keadaan ekonomi tidak menentu, dalam keadaan rakyat terpaksa bayar cukai yang lebih tinggi, dalam keadaan nilai Ringgit yang menurun teruk, dalam keadaan kos sara hidup meningkat dan rakyat dilanda banjir dan kehilangan ratusan juta Ringgit, Kerajaan membazirkan wang ratusan juta untuk pesawat mewah walaupun sudah ada pesawat-pesawat milik Kerajaan.
18. Cara pembelian tidak dapat menyembunyi bahawa akhirnya Kerajaan terpaksa menanggung beban pembelian ini. Jika syarikat bukan Kerajaan yang secara rasmi membeli, bayaran melalui lease (sewa) lebih tinggi daripada belian secara langsung kerana terpaksa memberi keuntungan kepada pemilik dan faedah yang dimasukkan.
19. Selain daripada ini dasar-dasar pemerintahan Dato Sri Najib terhad kepada pemberian wang percuma, menimbul kemarahan orang Melayu dengan mengenepikan Dasar Ekonomi Baru kerana ingin mendapat sokongan orang Cina. Namun penolakan BN dalam PRU 13 membuktikan orang Cina tolak pemerintahan Najib.
20. Sesungguhnya rakyat, baik Melayu, Cina, India atau suku kaum Sabah dan Sarawak sudah tidak percaya lagi kepada Dato Sri Najib. Ahli UMNO dan pemimpinnya perlu sedar bahawa UMNO dan dengan itu BN akan kalah jika Dato Sri Najib memimpin UMNO hingga PRU 14. Apabila UMNO kalah, orang Melayu akan kutuk kepimpinan yang menjadikan parti keramat ini begitu lemah sehingga ditolak oleh bangsa Melayu sendiri. Sekali UMNO kalah, ia tidak akan dapat dipulih semula.
21. Ramai juga ahli dan pemimpin UMNO yang setia secara buta tuli kepada pemimpin. Saya juga setia tetapi kesetiaan saya ialah kepada parti dan orang Melayu yang diwakili olehnya. Bukanlah mudah bagi saya menulis blog ini. Tetapi demi bangsa dan Negara saya terpaksa dedah semua ini.
22. Saya belum nyanyok walaupun umur hampir 90 tahun. Sesiapa yang berkata saya nyanyok sebenarnya menipu diri.
23. Melayu hanya akan selamat jika bersikap bangsa lebih utama daripada diri sendiri.
2. Ia bermula dengan kes pembunuhan Altantuya, wanita Mongolia yang terlibat dengan skandal pembelian kapal selam.
3. Dua orang anggota polis dituduh menembak mati wanita berkenaan, dibicara, didapati bersalah, kemudian didapati tidak bersalah dan dibebaskan. Kemudian dibicara semula dan dikena hukum bunuh.
4. Seorang daripada mereka berada dalam tahanan tetapi Sirul seorang lagi berada di Australia. Dia membuat kenyataan bahawa dia diarah untuk membunuh.
5. Rakyat tertanya-tanya siapa yang memberi arahan. Sebagai pengawal peribadi Dato Sri Najib, dakwaan Sirul perlu disiasat untuk menentukan siapa yang memberi arahan. Tetapi selain daripada Najib berkata Sirul “merepet”, tidak ada siasatan yang dibuat. Ini adalah nyawa manusia. Amatlah zalim jika Sirul dibunuh kerana menjalankan arahan.
6. Kemudian kes 1MDB. Tuduhan penyelewengan dalam urusan wang berbillion Ringgit oleh Jho Low telah dibuat dengan bukti-bukti yang jelas. Tuduhan ini tidak dijawab selain dari berkata ia adalah pembohongan.
7. Kononnya aset 1MDB berjumlah 52 billion sedangkan hutang hanya 42 billion. Aset tidak jadi keuntungan sebelum dijual (dicairkan). Kenapa untuk membayar faedah sebanyak 2 billion pun terpaksa hutang dari Ananda Krishnan. Kalau 1MDB tidak rugi kenapa terpaksa hutang. Kenapa wang Kerajaan sebanyak 1 billion diberi kepada 1MDB setelah hutang dibayar?
8. Kononnya wang yang disimpan di Cayman Island sudah dibawa balik. Tetapi separuh disimpan dalam bank Swiss (BSI) di Singapura. Di mana pergi separuh lagi dari 6 billion? Kenapa wang ini tidak diguna untuk bayar faedah 2 billion.
9. Kononnya disimpan di Singapura kerana Bank Negara akan menyoal simpanan lebih dari 50 juta. Jikalau duit itu duit kita yang hanya disimpan di Cayman, apa masalahnya menjelaskan kepada Bank Negara punca wang itu. Lagi pun duit ini dimiliki oleh 1MDB yang dikuasai penuh oleh Perdana Menteri yang juga Menteri Kewangan.
10. Soalan-soalan lain berkenaan 1MDB tidak dijawab selain daripada berkata asetnya besar. Soal harga tanah Kerajaan yang dibeli oleh 1MDB tidak dijelas. Sudah tentu jika dibeli dengan harga yang murah dan dinaik nilai berkali ganda, aset ini menjadi besar. Tetapi Kerajaan rugi banyak dengan tanah miliknya dijual dengan harga yang tidak mencermin harga pasaran.
11. US$700 juta dibayar kepada Petro Saudi untuk apa? Sudahkah ditentukan Petro Saudi memiliki konsesi kawasan minyak dan gas di Argentina dan Turkmenistan sebelum membayar wang yang begitu banyak.
12. Jho Low dilapor dalam New York Times, London Times dan Sarawak Report terlibat dalam pengurusan berbillion Ringgit duit 1MDB. Siapa dianya Jho Low yang begitu dipercayai oleh Dato Sri Najib. Pegawai Malaysia yang dilantik mengurus dana 1MDB mengaku mereka diarah oleh Jho Low yang mendakwa ia mendapat kepercayaan penuh dan arahan dari Dato Sri Najib.
13. Gambar-gambar Jho Low dan kelakuannya, umurnya yang amat muda serta cara hidupnya tidak menggambarkan peribadi yang menyakinkan orang ramai. Tetapi dia dilapur membeli rumah di New York dan Hollywood beratus juta Ringgit. Kemudian rumah-rumah ini dijual kepada anak tiri Najib dengan harga ratusan juta Ringgit bagi setiap satu kerana kononnya Jho Low telah jumpa rumah yang lebih indah di Hollywood yang harganya lebih tinggi.
14. Dari mana datangnya duit beratus juta kepada Riza Aziz tidak dapat dijelas. Keluarga Tun Razak termasuk Najib menafikan duit ini adalah dari keluarga. Pelaburan ratusan juta dalam filem “Wolf of Wall Street” oleh Riza datang dari mana?
15. Dan banyaklah lagi tuduhan dan soalan terhadap 1MDB yang ditubuh oleh Dato Sri Najib dan dikuasai sepenuh olehnya sebagai penasihat yang tidak dijelas dan dijawab selain dari menafi dan mendakwa semuanya bohong belaka. Laporan-laporan dalam akhbar di New York dan London amat memalukan negara.
16. Sementara itu, walaupun Kerajaan menghadapi kekurangan wang yang besar dan terpaksa hutang, Dato Sri Najib sebagai Perdana Menteri membeli sebuah lagi pesawat mewah. Umum mengetahui pesawat ACJ319 yang sedia ada diguna bukan sahaja untuk tugas rasmi tetapi sebagai kenderaan peribadi untuk Dato Sri dan Datin Sri.
17. Dalam keadaan ekonomi tidak menentu, dalam keadaan rakyat terpaksa bayar cukai yang lebih tinggi, dalam keadaan nilai Ringgit yang menurun teruk, dalam keadaan kos sara hidup meningkat dan rakyat dilanda banjir dan kehilangan ratusan juta Ringgit, Kerajaan membazirkan wang ratusan juta untuk pesawat mewah walaupun sudah ada pesawat-pesawat milik Kerajaan.
18. Cara pembelian tidak dapat menyembunyi bahawa akhirnya Kerajaan terpaksa menanggung beban pembelian ini. Jika syarikat bukan Kerajaan yang secara rasmi membeli, bayaran melalui lease (sewa) lebih tinggi daripada belian secara langsung kerana terpaksa memberi keuntungan kepada pemilik dan faedah yang dimasukkan.
19. Selain daripada ini dasar-dasar pemerintahan Dato Sri Najib terhad kepada pemberian wang percuma, menimbul kemarahan orang Melayu dengan mengenepikan Dasar Ekonomi Baru kerana ingin mendapat sokongan orang Cina. Namun penolakan BN dalam PRU 13 membuktikan orang Cina tolak pemerintahan Najib.
20. Sesungguhnya rakyat, baik Melayu, Cina, India atau suku kaum Sabah dan Sarawak sudah tidak percaya lagi kepada Dato Sri Najib. Ahli UMNO dan pemimpinnya perlu sedar bahawa UMNO dan dengan itu BN akan kalah jika Dato Sri Najib memimpin UMNO hingga PRU 14. Apabila UMNO kalah, orang Melayu akan kutuk kepimpinan yang menjadikan parti keramat ini begitu lemah sehingga ditolak oleh bangsa Melayu sendiri. Sekali UMNO kalah, ia tidak akan dapat dipulih semula.
21. Ramai juga ahli dan pemimpin UMNO yang setia secara buta tuli kepada pemimpin. Saya juga setia tetapi kesetiaan saya ialah kepada parti dan orang Melayu yang diwakili olehnya. Bukanlah mudah bagi saya menulis blog ini. Tetapi demi bangsa dan Negara saya terpaksa dedah semua ini.
22. Saya belum nyanyok walaupun umur hampir 90 tahun. Sesiapa yang berkata saya nyanyok sebenarnya menipu diri.
23. Melayu hanya akan selamat jika bersikap bangsa lebih utama daripada diri sendiri.
Monday April 13, 2015
07:36 AM GMT+8
07:36 AM GMT+8
AmEx-toting Chinese billionaire unperturbed by graft crackdown
More grunt for the Hyundai Veloster for its updated Turbo
Singapore debuts counter-terrorism social media network
Tweet about Star Wars with custom Twitter-only emoji
Public
Accounts Committee chairman Datuk Nur Jazlan Mohamed has demanded
transparency from the Finance Ministry and said it should be kept in the
loop over decisions made following its recommendations. — Picture by
Saw Siow FengPETALING JAYA, April 13 — The Public Accounts
Committee (PAC) said it should cease to exist if it is not taken
seriously by the government.
As
the committee grows impatient for answers from the Finance Ministry
over its failure to abide by the Treasury Orders, PAC chairman Datuk Nur
Jazlan Mohamed demanded transparency and said it should be kept in the
loop over decisions made following its recommendations.He was also unimpressed with the revelation by Chief Secretary to the Government Tan Sri Dr Ali Hamsa that action had been taken against 132 civil servants over various cases of misconduct highlighted in the 2013 Auditor-General’s Report.
Ali Hamsa had disclosed this at a town hall session last Tuesday.
“We want details... not general figures. Our job at PAC is to uncover wastage, mismanagement and corruption. If we cannot answer to the people on what action has been taken, then there’s no point in having the PAC,” Nur Jazlan said.
The Pulai MP said transparency in naming and shaming public officials would discourage civil servants from abusing taxpayers’ money.
He took issue with the ministry, which was recently placed under the spotlight for failing to abide by the Treasury Orders.
“The ministry has not given a proper explanation as to why it failed to abide by the Treasury Orders. I know ministries tend to take time in answering such questions but if they take too long, then PAC will have to haul up the ministry,” he said.
Under the Treasury Order 304(B), the ministry is supposed to report to PAC if recommendations made by the committee were carried out. Unfortunately, according to Nur Jazlan, the ministry had only reported verbally, without details, if and when action was taken.
“It is high time PAC is taken seriously by the government,” he said.
Nur Jazlan has been training his guns on government agencies in recent weeks, especially after the first series of the Auditor-General’s Report was released last Monday. On Thursday, he lashed out at critics and insisted the PAC was neither a “toothless tiger” nor a “drama committee”.
He said the public had a right to know about the action taken by the authorities over mismanagement of funds and administrative flaws in government agencies.
On Friday, Minister in the Prime Minister’s Department Datuk Paul Low Seng Kuan said he would raise the recommendations made by PAC during the Cabinet meeting to ensure corrective measures were taken.
Low, whose ministry is responsible for good governance, integrity and human rights, said he would expand his ministry’s scope to function as an extension of PAC to improve its effectiveness.
*****************************************
W'LE Desi prowls his recent days' readings, please meanwhile ENJOY a fellow BUMmer DonPlayPuks aka ES Shankar's commentary on ONE of the THREEE focused on -- namely ex-PM Dr Mahathir Mohamad, PAC's chairman Nur Jazlan Mohamed and Suhakam's chairman Hazmi Agam....
16/04/2015
PERENNIAL WHIPPING BOYS EPF & KWAP FUNDED RM30 BILLION LOAN TO PFFI. NUR JAZLAN & PAC - DID YOU ASK THE RIGHT QUESTIONS?
by lease-con , donplaypuks® intrepid correspondent for bumiputra con-struction con-tracts
One
sometimes wonders if Nur Jazlan knows his job as Chairman of The Public
Accounts Committee (PAC). Should we have some respect for his position
as a watchdog and caning master or should we just lump him and write
him off and the PAC as another shortcoming of the Najib administration.
Seeing as to how he is the son of former Information Minister Mohamed Rahmat, could we really expect him to crack the whip at the civil service and government for what now seems to be the same litany of woes, only increased in number and monetary value, tabled year in year out by the Auditor General? Can an UMNO/BN MP be neutral in heading the PAC and work totally in the interest of the Rakyat? Shouldn't the PAC be headed by an Oppoistion MP or retired one? Put facetiously, can Dracula be the auditor for the blood bank?
For example, The MAHB blew its budget for KLIA2 by some RM2 billion. Sure, the PAC held an inquiry. But what has the PAC done to ensure LAD is collected from the delinquent contractor and punished those at MAHB who were responsible for this financial fiasco? Have the MAHB Chairman/CEO and Board of Directors been charged in court with dereliction of duty or let off through silent inaction or a slap on the wrist ("You naughty boys!")
Seeing as to how he is the son of former Information Minister Mohamed Rahmat, could we really expect him to crack the whip at the civil service and government for what now seems to be the same litany of woes, only increased in number and monetary value, tabled year in year out by the Auditor General? Can an UMNO/BN MP be neutral in heading the PAC and work totally in the interest of the Rakyat? Shouldn't the PAC be headed by an Oppoistion MP or retired one? Put facetiously, can Dracula be the auditor for the blood bank?
For example, The MAHB blew its budget for KLIA2 by some RM2 billion. Sure, the PAC held an inquiry. But what has the PAC done to ensure LAD is collected from the delinquent contractor and punished those at MAHB who were responsible for this financial fiasco? Have the MAHB Chairman/CEO and Board of Directors been charged in court with dereliction of duty or let off through silent inaction or a slap on the wrist ("You naughty boys!")
For
one, a PAC should be judged by what it has exposed and the action
actually taken against offending civil servants and Ministers, and not
by the number of meetings and inquiries it has convened. Should the
Taxpayer accept that the PAC cannot hear this or that because it would
be sub-judice Parliamentary inquiry or court cases on some stupid police
or MACC investigation? Independent bodies are set up to precisely to
step in before the shit hits the fan and the horse has bolted, where
dodgy dealings seem to be afoot concerning massive public funds.
Why are PAC hearings held behind closed doors and not open to the public?
Should a PAC Chairman be publicly gushing over the improbable explanation by MoF Chief Secretary Mohamad Irwan Serigar Abdullah, presumably the main architect behind the whole Pembinaan Private Finance Initiative S/B (PFFI) scheme, that it is "innovative financing"? CLICK HERE
for my earlier blog post on the PFFI scheme and concerns. This kind of
"innovative financing" would seem, and I hope I am wrong, to border on a
kind of fraud by cooking up fancy agreements and valuations, and
playing around with semantics.
Basically,
the Government borrowed RM30 billion, 20 from EPF (Employees Provident
Fund) and 10 from KWAP (Kumpulan Wang Amanah Pencen or Government
Pensioners' Fund) at "commercial rates of interest", and used it to
fund, so they say, some 886 projects, for infrastructure, schools etc.,
employing "small" Bumiputra contractors.
EPF has for long been the government's perennial whipping boy for all kinds of government bailouts and fire-fighting. KWAP was also the whipping boy for the 2001 RM900 million bailout (by Diam Diam) of TimeDotcom and the more recent RM4 billion in 1MDB's coal mining venture whose value has shrunk by more than 50%, necessitating the government taking over the investment (read as nailout).
EPF has for long been the government's perennial whipping boy for all kinds of government bailouts and fire-fighting. KWAP was also the whipping boy for the 2001 RM900 million bailout (by Diam Diam) of TimeDotcom and the more recent RM4 billion in 1MDB's coal mining venture whose value has shrunk by more than 50%, necessitating the government taking over the investment (read as nailout).
PFFI
secured the loans by pledging 186 parcels of land valued at RM 30
billion transferred to it by the Federal Land Commissioners (FLC) from
government-owned land, which PFFI then sub-leased back to the FLC for
RM30 billion payable semi-annually over 15 years. The lease payments are
utilised by PFFI to service loan interest to EPF and KWAP.
The
curious thing about this whole precarious set-up is that the Bumiputra
Contractors' Association (PKMM) seems to know nothing about this mega
spending by PFFI. If Nur Jazlan thinks that his answer that "PKMM’s
membership is not all-encompassing among the country’s
contractor pool and that the projects may have gone to qualified
non-members" will wash with the thinking public, he'd better think
again. How does he explain that not even a singe project was awarded to a
member of PKMM?
When
asked if the contracts were awarded by open tender, or direct
negotiations (the BUMNO/SCUMNO/Barang Naik preferred method), he did
Najib and the PR spindoctors from Boston Consulting, McKinsey and Apco
proud with his reply:
"All projects were awarded through normal ministry procedures and may involve a mixture of both processes as needed."
"Normal
Ministry procedures"? What is normal and who has oversight? How many by
open tender and how many by direct negotiations, the preferred
BUMNO/SCUMNO/Barang Naik non-transparent method? Did Nur Jazlan direct
that important question to Serigar Abdullah and PFFI, or is that
information Unconstitutionally classified under the Official Secrets
Act?
Perhaps,
Nur Jazlan should also ponder over the following questions too, and get
straight answers from Serigar Abdullah and the MoF and PM Najib since
he's the Finance Minister:
1. Where are the exact locations of these 186 parcels of land?
2. Who did the valuation of the land to arrive at RM30 billion?
3.
To secure RM30 billion loan at a margin of say, 70%, the land value
would have to be RM43 billion. What is the acreage of land involved and
what is the per square foot valuation? Were independent private-sector
real estate valuers engaged or was it all done by the government?
4.
Did the EPF and KWAP carry out their own independent land valuations,
as any self-respecting bank or lender would, and if so, where are the
reports and what were the valuations?
5.
How does borrowing from EPF and KWAP, both managed and controlled by
the government, constitute private funding? Who are you kidding?
6.
If the FLC is paying lease rentals of about RM2 billion a year for 15
years (total RM30 billion) what value is it getting for it? The rental
payment must give FLC a right to enjoy something. What is that thing,
that benefit? Or is it a fictitious arrangement which would then
constitute open fraud by the MoF, the Government and PM Najib since he
is also the Finance Minister?
7.
Why is the list of projects a big secret? Surely the public is entitled
to know the names of the contractors, what were the projects, whether
they were awarded by open tender or direct negotiation and how much each
was paid. Most importantly, were the projects completed and was there
value for money audits done by the MoF or the Auditor General?
8.
Malaysian Government Security (MSG) interest rate +15 basis points is
about 4% per annum. How can this be called competitive loan rates for
EPF and KWAP? Why should EPF and KWAP lend at this low rate when it has a
duty to its members to maximise its income and profits? Does this not
constitute arm-twisting EPF and KWAP to the financial detriment of its
members?
9.
Ultimately, it is the Taxpayer who will be funding the project and not
the private sector. The FLC will have to keep coughing up, on average,
RM2 billion a year for 15 years. The interest on RM30 billion @ say 4%,
is RM1.2 billion, leaving RM800 million a year to service loan capital
and operating overheads. So, where will the government get some RM 18-20
billion to repay EPF and KWAP the balance of the loan when it
eventually matures in 2023?
10.
Is the MoF using part of the RM30 billion to service what appears to be
its "cooked up" lease payment obligation of RM2 billion a year with
PFFI? Is this proper and in the public interest?
11.
Doesn't this resemble the 1MDB situation, where basically government
guarantee is being used to raise capital, in this case 100% borrowing,
and the cash flow shortage is being financed by rolling loans over again
and again? Is this an acceptable business model, where there is grave
doubt that the land pledged is worth anywhere near RM30 billion?
12. “The PAC was also asked on the risks born by the ministry and how the funds are managed and utilised,” said Nur Jazlan.
What was their answer? Don't worry, there's is absolutely no risk? Easy to say that when it's not your money or risk, isn't it?
Look at the 1MDB mess, and then say "absolutely no risk" again!
I shudder when PAC officials, politicians and Chief Secretaries to the Government nonchalantly dismiss RM30 billion and RM46 billion debts which ultimately the Taxpayer/Rakyat will have to foot, as though we are talking about peanuts.
Who do we have heading these important government posts with their multi-billion rinngit budgets - financially savvy Warren Buffet-types or Monkeys/Chimpanzees?
What was their answer? Don't worry, there's is absolutely no risk? Easy to say that when it's not your money or risk, isn't it?
Look at the 1MDB mess, and then say "absolutely no risk" again!
I shudder when PAC officials, politicians and Chief Secretaries to the Government nonchalantly dismiss RM30 billion and RM46 billion debts which ultimately the Taxpayer/Rakyat will have to foot, as though we are talking about peanuts.
Who do we have heading these important government posts with their multi-billion rinngit budgets - financially savvy Warren Buffet-types or Monkeys/Chimpanzees?
Donplaypuks® with fictitious lease arrangements and mysterious RM30 billion projects, man!
*************************************
Sorry for the delay in undating now, 2 days later, April 19 745PM on the TWO SUBJECTS under contention:) or :( -- YL, Desi
SECONDLY, and THIRDLY from the Malay Mail Online:~~Ooops, be patient OK, I failed in Cut&Paste from mmail.com.my!:(
IN GIST, the two Malay Mail reports news reports confirm what we the public know all along -- the Public Accounts Committee headed by Pulai MP Nur Jazlanand the Human Rights Commission (suhakam) headed by Hazmi Agam are essentially "toothless tigers" as the BBN/UMNO Government which appointed them don't pay much attention on what they uncovered of failings in the two areas under jurisdiction, and have not been taking effective and substantive measures to address the problems and scandals disclosed by the two WATCHDOGS year aftaer yaer, ad nauseum. ~~ Cheers, YL, Desi, knottyaSsusual, going back to my hiberNATION until and unless Tun Dr Mahathir Mohamad "shows" us photograph/s of the much talked about PM, and the Mongolian beauty and the go-between hiding away in London, what Defence CONsultant involved in purchase of two Scorpene submarines for RM500million commissions? And one of the two subs reportedly refused to go under water until one mamasan, according to a Zunar artoon I sighted, decided to add her weight to it!:(:(:(H2O:):):)
*************************************
Sorry for the delay in undating now, 2 days later, April 19 745PM on the TWO SUBJECTS under contention:) or :( -- YL, Desi
SECONDLY, and THIRDLY from the Malay Mail Online:~~Ooops, be patient OK, I failed in Cut&Paste from mmail.com.my!:(
IN GIST, the two Malay Mail reports news reports confirm what we the public know all along -- the Public Accounts Committee headed by Pulai MP Nur Jazlanand the Human Rights Commission (suhakam) headed by Hazmi Agam are essentially "toothless tigers" as the BBN/UMNO Government which appointed them don't pay much attention on what they uncovered of failings in the two areas under jurisdiction, and have not been taking effective and substantive measures to address the problems and scandals disclosed by the two WATCHDOGS year aftaer yaer, ad nauseum. ~~ Cheers, YL, Desi, knottyaSsusual, going back to my hiberNATION until and unless Tun Dr Mahathir Mohamad "shows" us photograph/s of the much talked about PM, and the Mongolian beauty and the go-between hiding away in London, what Defence CONsultant involved in purchase of two Scorpene submarines for RM500million commissions? And one of the two subs reportedly refused to go under water until one mamasan, according to a Zunar artoon I sighted, decided to add her weight to it!:(:(:(H2O:):):)
No comments:
Post a Comment