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Thursday, August 3, 2017

Johari, timing and amount of bonds point squarely on IPIC



YOURSAY | 'When 1MDB makes the RM2.57b repayment to IPIC, make a full disclosure. Failure to do so …'
Anonymous 2436471476414726: Firstly, the timing of the RM2.5 billion bond issue is too coincidental with the payment to International Petroleum Investment Company (IPIC), with which 1MDB is in default.
Secondly the government trust deficit to the rakyat is so bad, with too many lies told in the past, that this could be another lie.
Again, we ask that if and when 1MDB makes the US$602 million (RM2.57 billion) repayment to IPIC, the government makes a full disclosure as to the source of the funds used. Failure to do so only means the government has something to hide.
Drngsc: What a joke. The timing and the amount of the bonds is surely highly suggestive that it is being raised to pay IPIC. 1MDB has defaulted. Ministry of Finance (MOF) is the guarantor, so if 1MDB defaults, MOF needs to pay up. The amount and the timing are similar.
This fellow must think that Malaysians are fools.
Anonymous #19098644: Second Finance Minister Johari Abdul Ghani can deny, yes, but the tender period notice of the bond issuance is only two days to closing day. This is not standard practice. So why the rush? Obviously the money is needed in a hurry. Why are you in such a hurry?
Guess what, the government will need to pay IPIC!
Only Umno/BN people are so stupid that they believe everything this administration says.
Wira: How is the government going to service the 1MDB debt, which it guaranteed, if not from deficit spending since we heard nothing about budgeting for 1MDB in the finance minister's budget allocations speech last year? So this bond will nicely cover the RM2.5 billion deficit caused by 1MDB. Johari, go ahead, keep thinking that your voting constituents are fools.
Cogito Ergo Sum: Johari, you still have to pay interest on the bonds. Which means your original deficit now balloons. Because 1MDB is in 'technical' default, Malaysia's sovereign rating will drop. As such, you have to pay a higher interest rates to make the bonds attractive.
Is that why you are withholding the coupon rate?
Your solutions are going in circles, and the debt cycle is getting too frequent. Some of us have actually studied economics and finance, and your solutions are very short term. Whoever takes over the government, whether it's BN or Pakatan Harapan, will be saddled by the debts accumulated by the current administration.
Voice: So, the government debt will continue snowballing and at the end of the day, the people are expected to bear all this burden through more taxes, higher prices of goods, through being deprived of better or more infrastructure and amenities due to stagnant development, fewer healthcare facilities and benefits, and the list goes on.
Odin Tajué: Johari Abdul Ghani, 1MDB has nothing to 'rationalise'. And your ‘units’, if they exist, are worthless. We know all that.
Nevertheless, here is a simple way for you to prove that you are telling the truth about the reason for the bond issue. Which is this: offer an explanation that any sane, reasonable person would accept as to why IPIC needed be paid again, when the sum due has been paid to Aabar BVI, and you have stated that the company was a subsidiary of IPIC’s.
You have 48 hours to offer that explanation, failing which you will be deemed to have lied. Your deadline expires by this time this Saturday, 5 August.
Debater: I will not buy these junk bonds. Think about this: every year we issue bonds to cover our shortages in expenditure. In other words, the government is spending more than it can afford. The whole system is economically unsustainable because the minority (the taxpayers) are made to subsidise the majority, as well as the kleptocratic government.
The government, in order to remain in power, borrows more to have the spending power. It is like an irresponsible credit card user. If this were to happen with an ordinary citizen, he would be thrown into jail for credit card fraud.
Mosquitobrain: Johari, where have the all the money saved from the subsidies the BN-Umno took back and the 6 percent Goods & Services Tax (GST) collected from the taxpayers, as well as the petroleum royalties gone to? Why do we need more bonds issued?
Is it, as some suspect, for 1MDB or GE14? Is it so 'obscene' to give a decent answer to the above queries?
Anonymous 2465861491622056 The losses of 1MDB will be borne by the government and ultimately the rakyat, the majority of whom are Malays. The rakyat must realise that they have just funded MO1 (Malaysian Official 1) and tycoon Jho Low.
Telestai: A 20-year bond at this point of time? They might as well kiss the money goodbye.
Huarghhhhh: The opposition never wanted to understand any explanation on 1MDB. They all just want to topple Prime Minister Najib Razak and the government, and they would pretend that they do not understand the explanations, just to continue playing up the 1MDB issue.
TheAxman: 'Huarghhhh', of course the opposition wants to topple the present government, that is why they are called the 'opposition'. Otherwise, what is their role?
If the opposition wins the next election, then guess what? BN surely would want to topple the new government, too. And by the way, which explanation from 1MDB do you actually understand? Please tell us, because none of them makes sense.
Hang Babeuf: If the quality of the financial and investment advice that the government and 1MDB are getting is on par with the quality of the defence that is being mounted by the swarming hordes of loyalist cybertroopers, then one can understand how everything that this stumblebum government touches becomes a mess and a disgrace.
The level of incoherence in their comments, the crippled nature of their reasoning and language, are simply appalling. Where does Najib get these woeful defenders? Can he not get any that are any better, or at least of mediocre quality?
You can tell the quality of a cause from those who rally to sustain it when the pressure is on. In these online comments, Najib's cause relies upon and is sustained by clowns and pathetic fools. And hopeless wannabes. You would think that the PM might, and ought to be able to, do better.

Just remember: every official government or corporate statement made about and for 1MDB is made by somebody standing on the top of an enormous heap of manure.
If you like the smell of the message, you have a problem. - Mkini

1 comment:

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