After the 1MDB winter, comes the avalanche

YOURSAY | ‘If there was no 1MDB, Bandar Malaysia would belong to the people of Malaysia.’

1MDB winter far from over, says Pua

Negarawan: Billions of ringgit from the rakyat have been allegedly misappropriated via 1MDB.

Even if a significant portion of the money is regained by 1MDB (which is highly doubtful), the perpetrators of the massive fund misappropriation must still be held accountable and punished by law.

This includes those in government and various shady figures associated with 1MDB, who continue to enjoy the massive spoils of 1MDB.

The rakyat realise that it is almost impossible for these culprits to be brought to justice in Malaysia, owing to the corruption of all the key public institutions ranging from the Attorney-General’s Chambers, Malaysian Anti-Corruption Commission (MACC), Royal Malaysian Police (PDRM) to the Public Accounts Committee (PAC).

The rakyat can only hope that the investigations being carried out in various foreign countries, e.g. the United States, United Kingdom, and Switzerland, will reveal the truth soon, and facilitate in bringing all the culprits to justice.

Malaysia's international reputation has been severely tarnished by the current PM. Eventually the rakyat want a government led by a credible, competent and honest PM.

Pemerhati: To put it simply if there was no 1MDB, the valuable Bandar Malaysia land and energy assets would belong to the people of Malaysia and not the people of China.

But because PM Najib Razak allegedly used the 1MDB scam to borrow tens of billions, the country’s valuable land and energy assets had to be partly sold to the people of China to make up for the billions that were allegedly taken by Najib and his cohorts like Jho Low.

Sali Tambap: The money that 1MDB is making from selling Bandar Malaysia is not profit from business investment but the nation's money.

That is considered stealing because Najib, who is the PM, gives Bandar Malaysia (at nominal price) to 1MDB, which is controlled by him.

1MDB sells Bandar Malaysia to pay its debt, money which has been used by 1MDB and some of which have ended in the hands of its cronies, including the RM2.6 billion allegedly gone into Najib's personal bank account.

One needs not be an expert to see this. Even the simple ‘apeks’ (old men) in the streets can see the scam.

Some Umno members see it. In fact, Umno members know this. Thus, they are divided into two camps - those who support Najib and those who do not agree with what he is doing through 1MDB.

The amazing thing is many are willing to support Najib despite knowing that all these are high-level corruption. The rakyat can judge for themselves - people who are involved in corruption and support corruption cannot be god-fearing people.

FellowMalaysian: What inalienable right does 1MDB has that allows it to acquire land from the government for a pittance - presumably because it was a government-to-government dealing - and subsequently sells the land to a foreign company in a private business transaction? This ought to be probed.

Headhunter: Getting government land at dirt cheap price and sell at much higher price in the open market to pay for part of 1MDB debt is not something to shout about.

In fact, it is a double whammy. The profit margin should have gone into the company kitty as profit. The is like robbing Paul to pay Peter. At the end of the day, the rakyat are again taken for a ride.

Any dummy would be able to do it and makes plenty of money. That's what many BN cronies have been doing - getting cheap government lands and sell them at high price.

Doc: I totally agree with MP Tony Pua - the 1MDB winter is far from over. Over the Christmas break, I attended a dinner (Dec 24), lunch (Dec 25) and another dinner (Dec 25).

These gatherings involved a diverse group of Malaysians, all professionals from different backgrounds, some retired, and some non-Malaysians residing in Malaysia. The predominant topics of discussion at these gatherings were:

1. Najib's folly in driving the economy to the ground.

2. Umno is filled with morons who are supporting a despotic leader.

3. 1MDB and Najib's massive RM2.6 billion donation.

4. How thick-skinned Najib is and that he is so shameless.

5. The economy will go belly up in 2016, thanks to Najib.

6. Far-out stories regarding Najib’s wife Rosmah Mansor.

7. Cost of living mimicking Superman – up, up and away.

8. GST and taxes.

1MDB is like El Nino; long lasting and devastating in many forms.

Saya Pun Nak Cari Makan: After the winter, with melting snow, comes the avalanche. Yes, this is what awaits Najib.

Right at this moment, everyone in the markets and hawker centres, coffee shops and offices, is asking the question, "Mana RM2.6 billion?"

With the latest sale of part of the pride of the country to China, many are worried that the nation will be beholden to it. Previously, when the Chinese ambassador visited Petaling Street to issue a scathing statement, he was summarily summoned to answer for his action.

Now, with China heavily invested here in our prized project, would the ambassador be accorded the same treatment if he does the same thing again? Or it may be different this time around?

Probably he would be invited, accompanied by a kompang group.

Hplooi: No, the story is not finished as yet. The accounts of 1MDB are opaque. Despite debt being reduced, we still do not know how much liability is still left and how much more 'assist' will still be needed from public funds/assets.

Yes, a lot has been unsaid (as yet and despite request from the public); e.g. a full accounting of what happen to the borrowings supported by government 'assistance', or who benefited from insider trading in government bonds (to the detriment of Malaysian interest).

The repayment of these bonds will be a millstone around the collective necks of Malaysians.

Frankiepo: Land sold at below market value, use it to borrow money, hold it for a couple of years, sell off the land to pay off the loan, issue settled. (Money borrowed in the first place gone, and lastly our land is gone, too).

Malaysians has indeed been taken for a ride by the government. -Mkini