See after my ch'onghei INTRO, from ****freemalaysiatoday.com:~~~
Desi always has been a li'l wary of this East Malaysian, Jeffrey Kitinggan,but when he speaketh about BN's wrongdoin's, I'm his friend for the moment, OK! (Based on political credo: My enemy's enemy is now my friend...)
I had told a recently befriended politikus in Peyton Placesque Furong that yesyerday moUrn, I was depressed at morning tehtarik -- I met wit' two other Furongknights plus one ex-F.R.K based in JB when two held the view the wan CluelessWan CEO would still/steal to be around post GE14, GE15 and GE16. It was a "split decision" as I and ONE other strongly feel that The CluelessWan's days are numbered. I stated that on last country 10 foreign jurisdictions have started INVESIGATIONS into Najib's petproject, the 1Malaysian Development Berhad (1MDB), proudly having LOST RM40billion in just seven years. (I promise to REPRISE1 P. Guna's article later OK1...). Of course, he and his lackeys, especially 1MDB CEO, or resigned CEO, or about to resign -- what's his name? Arul GunaGundi somethin'...-- keep repeating the chorus: "1MDB has assets worth more than RM42billion to cover all its debts/liabilities..."
BUT meanwhile, they DARE NOT SUE Wall Street Journal, or Sarawak Report, or the international media, who have reported in "detail" that showed the MONEY TRAILS linking 1MDB to Najib Razak to stepson (an unknown as filmmaker back in Malsia but made a movie called "Wolf from Wall Street" which ex-PM Dr Mahathir Mohamad described as a PORN film made at a cost of USD150million linked to 1MDB'. Of course, they bully the local Opposition MPs and NGO activists for making FACT-BASED comments about 1MDB's dire state...
Here's the frightening piece of latest news as how the Government is thinking of continuing its daylight robbing the nation's assets to help meet its debt obligations, and of course, 1MDB is the albatross hanging around its neck, hook, line and sinker. (Sometimes Desi doesn't even understand the metaphor he uses, because when one studies the 1MDB ***DEBACLE, comparable to two American scandals I will C&P later, OK2!), the mind boggles!...)
Desi has been faithfully reporting on our people's richest asset held in trust for us by Petronas, yet we don't seem to get any benefit but see the PUMP PRICES going up and up and up, yes, with an occasional dip lah....but after several rounds of food&transport prices had gone up!
I reported that Petronas reported its FIRST QUARTER LOSS after almost a decade at end-December 2105, I promise to REPRISE the item later, OK3!
With the following news port from ****freemalaysiatoday.com, methinks the CluelessWan is in deep sh*t, as deep as the oil deposits off Sarwak/Sabah coasts.
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Jeffrey ‘alarmed’ at reports Russia studying Petronas assets
Selling off oil rigs in the waters of Sabah and
Sarawak would mean "infringing" on the territorial rights of the two
Borneo nations.
KOTA KINABALU: Bingkor Assemblyman Jeffrey Kitingan has expressed extreme concern on speculation arising from a website http://teknoblog.ru and the Tass news agency, both reporting that Moscow was considering buying out Petronas assets.It was not immediately clear whether these assets were also overseas but Tass referred to Petronas as one of the largest energy corporations in Southeast Asia, employing 40,000 people and authorized to develop and produce oil and natural gas throughout Malaysia, noted Jeffrey, who is also Star Sabah Chief, in a telephone interview.
“If these purported deals are about Petroleum Sharing Contracts (PSCs) in Borneo, it may be considered,” he conceded in elaborating on a statement that he had issued earlier in the day. “However, it seems that the Russian state-owned company Zarubezhneft was more interested in certain assets, purportedly including oil and gas fields complete with production platforms and rigs etc.”
“That raises the question, as being speculated in the social media, whether Petronas intends to conduct a fire sale of assets.”
He expects the Sabah and Sarawak Governments to study any negative developments in the oil and gas industry in Borneo in the wake of the Asean-Russia summit and statements attributed to Russian Energy Minister Alexander Novak in Tass, the Russian news agency, and reports in other media in that country on Petronas.
“We didn’t enter into Federation with the peninsula so that the Federal Government could sell off parts of Sabah and Sarawak to foreigners.”
Let me assure all Sabahans that we will not sit idly and watch it happen, said Jeffrey. “We will take all legal steps to voice our loudest and most vociferous opposition to the Federal Government, and take legal action through all the relevant international bodies, including the United Nations and the International Court of Justice (ICJ).”
The lawmaker, while not ruling out that the national oil corporation may be facing a cash crunch, ventured that there may be various “legal implications” if Petronas had to eventually sell off parts of the oil and gas industry in Sabah and Sarawak. “Selling off oil rigs in the waters of the two Borneo nations would mean infringing on their territorial rights.”
“The Federal Government and/or Petronas have absolutely no right to do this.”
Novak was quoted as saying in Tass on Friday, on the sidelines of an Asean-Russia summit in Sochi, that Zarubezhneft was “exploring the possibility of acquiring the assets of Petronas”. “Zarubezhneft shows interest in first studying the assets of Petronas. The parties are holding consultations about it,” Jeffrey quoted Novak as saying.
Novak confirmed that Zarubezhneft is in talks on entering projects in Malaysia, pointed out the Sabah Opposition strongman. “Novak further said that ‘as for Zarubezhneft they are studying opportunities to enter projects in Malaysia. Zarubezhneft has a lot of experience to enhance the effectiveness of existing fields, and offers its services and participation’.”
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UPDATEd at 1.07AM May 25, see how heART Desi worketh for thee!?:) or :(
From fabm.wordpress.com cometh some GOoDnews for justice-loving Malaysians:~~~~
Singapore shuts bank unit linked to 1MDB as Swiss open criminal proceedings
Singapore’s central bank on Tuesday ordered BSI’s operations in the city-state to close down as Switzerland opened criminal proceedings against the private bank based on its investigation into transactions by Malaysia’s troubled state fund, 1MDB.
The Monetary Authority of Singapore (MAS) said it had withdrawn Swiss-based BSI Bank’s status as a merchant bank in Singapore and directed it to shut down for serious breaches of anti-money laundering requirements and other lapses.
In a statement, MAS said it has referred to the public prosecutor the names of six current and former members of BSI Bank’s senior management and staff to evaluate whether they have committed criminal offences.
“This is the first time that MAS is withdrawing its approval for a merchant bank since 1984, when Jardine Fleming (Singapore) Pte Ltd was shut down for serious lapses in its advisory work,” MAS said.
The investigations in Switzerland and Singapore surrounding 1Malaysia Development Bhd [TERRN.UL] (1MDB) focus on alleged fraudulent financial transactions that were used to funnel money to politically-connected individuals and possible money laundering.
The probes into 1MDB have cast an unwelcome spotlight on Singapore, which has been trying to burnish its anti-money laundering credentials.
“BSI Bank is the worst case of control lapses and gross misconduct that we have seen in the Singapore financial sector,” said Ravi Menon, managing director of MAS, in a statement.
BSI said in a statement its group CEO Stefano Coduri will step down and it has undertaken steps to strengthen management, including the introduction of a new chief risk officer and the appointment of a new group legal counsel.
1MDB did not immediately respond to a request for comment.
Swiss authorities said in February that a criminal investigation into 1MDB had revealed that about $4 billion (2.76 billion pounds) appeared to have been misappropriated from Malaysian state companies.
…more
Singapore shuts bank unit linked to 1MDB as Swiss open criminal proceedings
May 24, 2016 – Reuters
Singapore’s central bank on Tuesday ordered BSI’s operations in the city-state to close down as Switzerland opened criminal proceedings against the private bank based on its investigation into transactions by Malaysia’s troubled state fund, 1MDB.
The Monetary Authority of Singapore (MAS) said it had withdrawn Swiss-based BSI Bank’s status as a merchant bank in Singapore and directed it to shut down for serious breaches of anti-money laundering requirements and other lapses.
In a statement, MAS said it has referred to the public prosecutor the names of six current and former members of BSI Bank’s senior management and staff to evaluate whether they have committed criminal offences.
“This is the first time that MAS is withdrawing its approval for a merchant bank since 1984, when Jardine Fleming (Singapore) Pte Ltd was shut down for serious lapses in its advisory work,” MAS said.
The investigations in Switzerland and Singapore surrounding 1Malaysia Development Bhd [TERRN.UL] (1MDB) focus on alleged fraudulent financial transactions that were used to funnel money to politically-connected individuals and possible money laundering.
The probes into 1MDB have cast an unwelcome spotlight on Singapore, which has been trying to burnish its anti-money laundering credentials.
“BSI Bank is the worst case of control lapses and gross misconduct that we have seen in the Singapore financial sector,” said Ravi Menon, managing director of MAS, in a statement.
BSI said in a statement its group CEO Stefano Coduri will step down and it has undertaken steps to strengthen management, including the introduction of a new chief risk officer and the appointment of a new group legal counsel.
1MDB did not immediately respond to a request for comment.
Swiss authorities said in February that a criminal investigation into 1MDB had revealed that about $4 billion (2.76 billion pounds) appeared to have been misappropriated from Malaysian state companies.
…more
Singapore shuts bank unit linked to 1MDB as Swiss open criminal proceedings
May 24, 2016 – Reuters
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