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Friday, March 17, 2017

FGV Scandal Bigger Than 1MDB ?



 




revelation of fresh corruption involving Najib – dwarfing 1MDB scandal 
beginning of end for maligned Malaysian leader.

situation is beginning to slide 
he has governed it so badly

corruption scandal currently unfolding involves FELDA Global Ventures
“1MDB Times Ten.”

> US$1b siphoned from 1MDB into Najib's accounts 

Corruption "exploded” since Najib voted into power 
problem “is far wider than just 1MDB.”

fresh revelations linking Najib and his cronies to corruption.
“The information is relentless,” 

indictment in DoJ case [in US] Najib named directly, he is ‘toast'

new revelations regarding 1MDB scandal that directly implicates Najib
new evidence emerges that contradicts his explanations given so far.
 
potentially see UMNO withdraw their support for Najib

international perception of Najib’s rule has deteriorated
fears for human rights 
crackdowns on protests, free speech 
arrests of government critics. 
  • growth has slowed 
  • currency has plummeted 
  • dive in business confidence.
Bloomberg wrote “Indonesia favored regional economy at Malaysia's expense.”

My comments :  

FGV had RM9 billion in reserves. Now they have less than RM300 million.
FGV IPO raised RM9.3 billion. What happened to the money?
FGV borrowed RM6 billion for replanting. Where did the money go?
Now FGV, Felda - they all have little or no money.

Rumours are flying that the other Minister who wanted to quit was that 2nd Finance Minister fellow Johari something.  

His recent statement that the MOF WILL NOT be taking over 1MDB's debt makes him look so stupid.  

(There is no need for MOF to take over 1MDB debt because 1MDB is already 100% owned by the MOF. Plus a lot of 1MDB debt is also guaranteed by the Gomen.)

Talk is that when Azmin the Selangor MB said a Minister wanted to quit, he was not  referring to Anifah Aman but to Johari the 2nd Finance Minister.

But a file was pulled out and Johari decided to hang on a little longer (to read the file??)

As the stomach churns.

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