1MDB Crap - Tuan-Tuan Puan Puan, Dengar Baik-Baik.

Tuan-Tuan & Puan-Puan,

Here is a very famous Wendy's Commercial from 1984. It was an American commercial so I dont think it was shown in Malaysia. This commercial was one of the best examples of getting the advertiser's message across simply and precisely.

 

The old woman keeps repeating "Where is the beef?"

Wendy's was making the point that other burgers did not have enough beef. They had more bun than meat.

I think we should all NOT lose focus when it comes to 1MDB. The question to ask 1MDB is 'Where is the money?'

Super Moron says that the RM42 billion was not stolen. Ok. So here is the question "Where is the RM42 Billion?"

Just answer this simple question. You say you have assets now worth RM53 billion? 

Ok. 'Where are those RM53 billion assets?"

Here is more 1MDB news from Yahoo News today :

https://sg.news.yahoo.com/1mdbs-subsidiary-fully-repays-rm950-044904153.html

1MDB's subsidiary fully repays RM950 million

Plenitude Mentari SB, subsid. of 1MDB has paid RM950m Standby Credit from govt.

In a statement today, company said subsidiary has repaid all principal and interest

facility entered into on 27 Feb '15

further to strategic review on 18 Feb 2015

a direct response to cash-flow mismatch faced by company

1MDB said company . . .had no other financing options.

1MDB and MoF Inc. able to implement rationalisation plan

success of which resulted in Credit Facility repaid in full.

© New Straits Times Press (M) Bhd

My comments : Even the prepaids couldnt have written this type of tripe.

Plenitude Mentari? 

There was Brazen Sky. 

Then there was SRC International. 

Now there is another strange subsidiary Plenitude Mentari pula. 

Exactly how many subsidiaries does this 1MDB have? 

Tuan-Tuan dan Puan-Puan, on 18 Feb 2015 this company did a "rationalisation" bullsh*t.  And what was their rationalisation plan?   Here is their answer :

"had no other financing options"

That was their rationalisation plans. They had  "no other financing options"   Banyak cantik.

So kalau dah tak ada any other options what did they do? 

1. They could yell 'Maaaaak tolong !!'  (which is what that movie producer boy did).

2. Or they could call on the gomen. Which is what they did.

Bukan susah pun. They just borrowed RM950 million from the gomen.   Kepala hotak punya rationalisation plan.  And you pay hundreds of thousands salary PER MONTH to the CEOs for this type of brain dead advice ??

Ok here is the slippery stuff folks. 

They did not have RM950 million in 2015. So they had no choice but to borrow RM950 million from the gomen.

Just over a year later (April 8th 2016) they have paid back the RM950 million to the gomen.

Tuan-Tuan dan Puan-Puan where and how did they get another RM950 million (in just one year) to pay back the RM950 million they borrowed in Feb 2015 ?  

What is their business? 

What do they sell? 

What do they manufacture?

Depa ni niaga apa?

Where did the RM950 million come from to repay the hutang IN FULL in just 14 months?

WHERE IS THE BEEF ?

Let me tell you where it came from. 

They have just borrowed from the gomen again. 

And again and again.

Dont believe me? Here is the proof. 

 

Lets read the next news clip - this time from The Star.

http://www.thestar.com.my/news/nation/2016/04/07/1mdb-report-debt-in-january/

1MDB report: Debt stood at RM50bil as of Jan '16

PAC revealed 1MDB’s debt at RM50bil as of Jan this year.

debts incurred due to :

• over reliance on refinancing to pay debts 
• taking new loans to pay interests of previous loans

PAC found company's financing structure, financial performance unsatisfactory

At first debt at RM5bil in 2009 

went to RM42bil in March 31, 2014 

spent RM2.4bil to pay loan interests.

Jan 2016, debt at RM50bil, assets at RM53bil

1MDB spent RM3.3bil to pay loan interests btwn April 1, '13 to March 31 '15

PAC said 1MDB :

• relied on refinancing to pay debts 
• new loans to pay interest of previous loans

• business model overly dependent on loans 
• burden on company 
• did not have enough income to sustain costs and pay loans
• research done and strategic measures implemented in Feb 2015,” it said.

Research kepala hotak.

Strategic measures kepala hotak.

They just borrowed more and more money from the gomen.

This was their "rationalisation" exercise.

Because no one else would lend them any money.  Dia sendiri cakap they " . . had no other financing options."  Bukan saya cakap.

So Tuan-Tuan dan Puan-Puan, listen up carefully.

When their debt was at RM42 billion, they had no cash to:

• pay operational costs or 
• pay interest on loans or 
• pay back principal amount on their loans

And  now their debt is at RM50 Billion. 

That is RM8.0 billion more than RM42 billion.

So do you seriously think they can pay back this RM50 Billion?  

Not likely at all.

They have to keep this bullsh*t going until 2018.   The prepaids will be busy.