For 1MBD, it’s not over until the fat lady sings

YOURSAY l ‘It sold off assets it bought to reduce debt which it shouldn't have taken in the first place.’

Critics: Even Ahmad Maslan can be PM, with 1MDB ‘fix’

CQ Muar: Disposing 1MDB's assets in order to reduce existing debts; how will that solve the problem?

Assuming the transactions successfully managed to raise close to RM40 billion to salvage 1MDB's deficit of RM42 billion, what and where did the original loss of the latter ended up?

As a result of the sale to IWH (Iskandar Waterfront Holdings) and CREC (China Railway Engineering Corporation), we are now saddled and burdened with a double deficit: the loss in assets and properties belonging to the country, and the original RM42 billion debt incurred by 1MDB.

Pardon me, PM Najib Razak, are you attempting to take us for a ride or are you assuming that we, the rakyat, were born yesterday?

Surely, you could do better than that. Be reminded that you're not addressing those foreigners which you used to audaciously impressed in the past. For your information, we are true-blooded Malaysians.

Lynn: So in a nutshell, 1MDB borrowed an insane amount of money to buy land at a low price from the government or overpriced assets from its cronies.

It then spent an insane amount of money servicing interest incurred by the debt, while plunging the country into a serious trust deficit with the investors.

And after all that, they sold off the assets it bought to reduce the debt which they shouldn't have taken in the first place. Clap, clap, clap! Bravo, Najib.

Slumdog: Najib can call the attempted bailout of 1MDB a “rationalisation plan”, “restructuring plan” or “save my skin plan”, but at the end of the day, Najib has sold strategic national assets to foreigners.

The assets are now gone forever and controlled by Chinese investors who are expected to impose a number of conditions. Profits that belong to Malaysians will be repatriated to China.

Najib, you now need to be open and transparent about the conditions of these asset sales. The rakyat has a right to know.

GE14Now!: It is always easy to sell what is not really yours. Once again, taxpayers have been raked over by this incompetent PM, whose only claim to fame is in his incredible fundraising abilities.

Hplooi: Dear former Langkawi Umno member Anina Saadudin, the worst (I believe) has yet to come.

I understand that, despite the sell-off and debt reduction, only an immediate crisis has been averted.

I also understand that other outstanding payments have yet to be settled. Some outstanding payments, while not directly under 1MDB, pertains to government bonds (sukuk) which have been sold undervalued (conjecture that insiders profited immensely from this undervaluation to the detriment of the government), which are a direct debt-burden on the Malaysian public.

This also means that the Malaysian public will be burden with the repayment of these bonds (which are not considered as part of 1MDB liabilities) in the next 10 or more years.

While the direct 1MDB debt has been reduced, I understand a humongous overhang still stands. I also understand that some moves may be in place to inject direct public funds to reflate 1MDB.

Not Convinced: Yes, it’s not over until the fat lady sings. Don’t get me wrong, I am not referring to anyone in particular.

Pemerhati: Instead of just asking Najib to step down, the Umno people and other concerned citizens should also go around explaining to as many Umno members as possible and others as to why they want Najib to quit.

One of the main reasons is 1MDB and it should be explained in simple terms so that all can understand.

Rupert16: I can't agree more with these Najib's critics.

Najib is indeed selling prime land, which rightfully belongs to the rakyat, to foreigners to cover his alleged plundering of the country's coffers.

We shall not let him and those complicit in the 1MDB scam get away until justice is done.

N1: We should all continue to support the PM so that we can have more foreign direct investments which are being used to buy key national assets.

I believe Malaysians should enjoy a better life if all important corporations are operated by multinationals rather than Umno cronies.

Otakechik: Indeed, bit by bit, PRC (People’s Republic of China) companies are buying up Malaysia's valuable assets, land and infrastructures.

With sufficient vested interest here, guess what they will do next?

Vaping Freak: The Chinese from China is slowly creeping into Malaysia, though legitimately, through the purchases of Malaysian interests.

Little by little, Malaysia is going into the possession of foreigners and by the time our grandchildren have grown up, they may have to serve Beijing first and then report to a Chinese admiral in Malaysia, who may be the inspector-general of police. -Mkini