Thank you for the clarification on issues raised. Because you missed out on many things in your earlier statements, I had to make certain assumptions and ask for clarification.
2. Now may I explain why you are still misleading the readers in my blog and others.
3. You said 1MDB is a strategic investment company. When you sell assets which you acquired at a very low price from the Government and pocket the difference is that what is called strategic investments? Buying business at higher than market price is that what you regard as strategic investment?
4. You are also going to sell 40% of former Government land at Sungai Besi which you acquired at below market price is that strategic investment? Sounds more like selling APs (Approved Permits) which you get free from the Government.
5. Are these how 1MDB makes money through strategic investments?
6. While Edra is sold to a foreign company you try to sell land to local Government linked company which collect funds from the people. So people , pilgrims and Malaysian citizens have to buy 1MDB land, so you can pay your debts. You are in fact forcing citizens to pay your debt with their hard-earned money. Is this also strategic investment?
7. How did you raise RM42 billion? Is it through borrowing? How much of that is borrowed in Malaysian Ringgit? Show documentary evidence and the banks you borrowed from. If you are paying them back in Ringgit, the devalued Ringgit will not be of the same value as the Ringgit you borrowed. Each US Dollar equivalent will be one Ringgit less. The banks will carry this loss. Yes this is strategic investment except when borrowing you did not know the Ringgit would devalue so much.
8. If you borrow in US Dollars, explain how much and from whom. Did you pay 10 per cent commission to Goldman Sachs? In which case you will be paying the 5.9 per cent interest on 100 per cent of the loans but getting only 90 per cent of the total loan. Again show documentary proof. Don’t just say it is not true.
9. If you had borrowed US Dollars, the value of each would have been RM3.2 per dollar. Now you would have to pay back at RM4.2 per dollar. How much dollar investments have you made? Apart from the US2 billion Dollar you say you have earned, you seem to be unable to pay the interest on your loans. Please give documentary proof of your profits, how it was made and from whom. You are not a private company. You are a Government company and any loss you make will be borne by the public. They have a right to know.
10. You say that the MACC had verified that the RM2.6 billion in Najib’s private account did not come from 1MDB. Government departments and personnel are now under pressure. They can be sacked or transferred. A DPP was dismissed.
11. People making reports are being arrested. Their lawyers can be arrested. People living under threats are not reliable when making statements.
12. So we cannot accept the statement by the MACC personnel just like that. We want proof. We want to know how RM2.6 billion in PM’s account is not from 1MDB. We must know where all the RM42 billion are. Your explanations are without proofs.
13. Explaining that you have more assets than the loans you have taken is not enough. Every cent of the money you borrowed must be accounted for. Where is the money from the Caymans? In what form is it? You said you saw it. Is it cash or accounts in bank books. Why did the bank say it doesn’t have the money? Which banks now have the money? Who is entitled to withdraw the money? What transactions have been made. If you say it is a secret, I have a right to say you want to keep the amount and the transactions secret. After all RM2.6 billion was secretly put into the private account of the PM.
14. The rule is that when RM2.6 billion is transacted it must have the approval of the Central Bank. The money had moved in and moved out and resides God knows where. The Central bank must know. Yet report by the Central Bank on, I believe, the movement of the RM2.6 billion has been dismissed by the new Attorney-General.
15. The Prime Minister says it is for UMNO. According to the Societies Act, UMNO must report all financial transactions. There is no evidence that it has done so. It is in breach of the Societies Act. UMNO was declared illegal in my time. The reasons were hardly serious. Now UMNO had not reported and not taken action to recover the money and report to the Registrar of Societies. What does the law say the Registrar should do?
16. It is the norm for an external audit to be done. This is big money. Just saying it is a donation is not enough. Give credible evidence. Government institutions have been stopped from auditing and reporting on 1MDB. There is a deliberate attempt to hide the activities of 1MDB, the 2.6 billion Ringgit in Najib’s personal account, the transactions invoving Petrosaudi, Caymans, Seychelles, Hong Kong, Siwtzerland, the United Kingdom and America.
17. Until the Government allows for proper audit by non-Government auditors, I am entitled to make reasonable assumption and to assume that there is more than just hanky-panky in the transactions of the 1MDB. - CHEDET.CC
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