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Monday, August 24, 2015

New video: Vexed Umno man losing sleep over 1MDB



Top leaders in Umno may appear united over Putrajaya's handling of the 1MDB controversy, but the same cannot be said about those on the ground.
A new video has surfaced on the Internet depicting a Merbok Umno delegate delivering a scathing speech on the matter.
He also urged Putrajaya to form a Royal Commission of Inquiry to investigate the company and to "kill off the issue, once and for all".
The delegate had listed out several problems with 1MDB, in particular the decision to take on RM42 billion in debts via questionable ventures.
"1MDB's motives were pure. They had taken away ownership of electricity producers from the Chinese and the Indians and handed it to the Malays. This is good. I support 100 percent.
"But the implementation was bad. We (1MDB) had a capital of RM1 million.
“We borrowed RM42 billion. It is a big sum of money. What kind of business model is this? It's a failed model," he said during the recent division annual meet.
Losing sleep
The delegate argued that 1MDB had acquired two independent power producers for RM9.7 billion but inherited RM6 billion in debts from the deal.
In view that the contracts for the two companies would expire next year, he said the acquisition should have taken place later at a cheaper price.
"I am losing sleep over this. When I read about it I was so angry," said the delegate, who claimed to be a former banker.
Earlier, another delegate Abdul Karim Ali, who contested for the Umno Youth post in 2013, urged Prime Minister Najib Abdul Razak to step down. This courted applause from those present.
At the time of writing, the video had been viewed more than 5,000 times.
This is the second video depicting a speaker at an Umno divisional meeting in recent weeks.
The first video to make waves involved Anina Saaduddin speaking at the Langkawi Umno divisional meeting, where she claimed Najib "cheated" more than three million Umno members.
When contacted, Merbok Umno division head Tajul Urus Mat Zin said the video had depicted the debate on the motion to support Najib as party president and prime minister.
"The motion was passed unanimously. Abdul Karim is the only person who made statements of that nature," said Tajul Urus. -Mkini

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