Another RM2.5 Beliyon 1MDB Muddle : Bloga Prepaid Faham Ke?

The Sarawak Report has been diligently digging up news about 1MDB. A whistleblower from somewhere has leaked a crucial JV Agreement between 1MDB and PetroSaudi. You can read the Sarawak Report and also see the 26 page JV agreement at this link here.
 

Here is a gist:

US$ 700 MILLION 'LOAN SCAM' HEADACHE FOR NAJIB:

Whistle-blower drops new 1MDB bombshell

Sarawak Report obtained exclusive access to 1MDB JV Agreement, dd 28th Sept 2009 

between 1MDB and PetroSaudi.
 

26 pg document signed by 1MDB’s then MD Shahrol Halmi & PetroSaudi MD Tarek Obaid
 

copy passed to Sarawak Report by insider

PM Chairman of Board of Advisors to 1MDB.
 

document reveals 1MDB paid USD$1billion into venture that carried US$700m debt 

loan from PetroSaudi’s parent to PetroSaudi Holdings (Caymans) Limited.
 

1MDB to pay whopping loan to PetroSaudi Int'l on day one of JV
 

BVI joint venture company 1MDB PetroSaudi Limited.  

He he he. We love our camels, our goats and our Malay friends. He he he.

Same same.

 

‘advances’ owed to parent company of PetroSaudi due to be paid back!

Nothing more than a $700,000,000 scam?

Prince Turki – son of late King Abdullah of Saudi Arabia, owner of PetroSaudi

 

Sneaky – crucial clause 4.5 requires US$700m ‘loan' paid back to PSI by its own subsidiary on very first day 1MDB ‘subscribed’ into JV through cash injection of US$1billion

1MDB - growing fiasco with current debts of over RM40billion.

legal scrutiny of JV document would have identified debt and requirement to repay
 

up front debt payment to parent means only US$300m of original $1billion left 

JV makes provision for whopping further $5billion in future funding by 1MDB 

Further Funding

Shareholders to make further contributions up to (USD5,000,000,000)

False claims boosted image of private company PetroSaudi
 

Sarawak Report noted claims which implied PetroSaudi paying $1.5billion into JV false

Najib claimed PSI invested US$1.5billion, which was untrue. 

no mention of pay back US$700million ‘loan’ (RM2.5 billion) from PSI

claimed private company linked officially to government of Saudi Arabia which it was not.

little known company (based in shared office in Geneva) paid zero cash into the deal

assets mainly oil concession in Caspian Sea, supposed to be worth over US$2.5billion.

suspicious secrecy surrounding entire JV made such claims impossible to prove.

No cash injection, only cash extraction 

                                              man in over all charge at 1MDB

had falsely implied cash injection from PetroSaudi

no mention made till now of cash extraction instead, of RM2.5 billion on day one

Another falsehood was suggestion that PetroSaudi officially connected to Govt of Saudi Arabia.

company was a private venture set up by little-known Saudi called Tarek Obaid

Misleading attempts to describe the JV deal as an official venture between the two countries…..

 
Prince Turki Abdullah recently relieved as Governor of Riyadh, a position he only achieved after the PetroSaudi deal.

Since Najib achieved such a shockingly poor deal ..many will be asking if it is time for him also to be relieved of his post? 

My comments : Ok kekawan Bloga bangang yang prepaid, postpaid dan fully paid - ini cerita dia.

1MDB buat JV dengan PetroSaudi - syarikat haprak yang ditubuhkan beberapa hari atau beberapa minggu saja sebelum JV dengan 1MDB. 

Imagine, sekejap saja lepas ditubuhkan, PetroSaudi boleh buat JV dengan syarikat Kerajaan pimpinan Najib Razak. Bertuah sungguh ya.

Apa JV dia? 1MDB kena melabur US1.0 beliyon (RM3.6 beliyon). Bukan banyak pun. Duit dandan rambut.

Tapi dari duit RM3.6 beliyon itu, PetroSaudi akan ambil US700 juta atau RM2.52 beliyon dan digunakan untuk bayar hutang PetroSaudi.  Semua ini berapa beberapa hari saja selepas syarikat itu ditubuhkan (incorporated).

Hutang dengan siapa? Bayar hutang kepada bapak syarikat PetroSaudi ia itu PetroSaudi Internatiol ke entah ape? 

Habis 1MDB dapat apa pula? Apa ganjaran dia? 1MDB dapat saham dalam telaga minyak besar, gusar dan berputar-putar di Caspian Sea.

Betulke ada minyak besar dalam telaga minyak Caspian Sea? 

Err..sebelum tu, bebloga bangang prepaid, tahu tak Caspian Sea tu letak kat mana? Jauh sikit lah dari Ampang, Gombak ke.  Kalau naik flight, entah nak landing ikut negeri mana.

Jadi minyak besar itu pun doubtful betul ada ke tak ade.

Jadi 1MDB minta batallah 'pelaburan' telaga minyak Caspian Sea.

Ok bagus. Jadi kalau pelaburan batal, duit dia mesti dapat balik. US$700 juta (RM2.52 beliyon) itu mesti dipulangkan kepada 1MDB.

Tapi duit itu tak datang balik. Hilang saja macam kentut halus yang tak ada bau.  

Habis camno? Dont worry kata Pak Arab PetroSaudi International, multinational, supernatural entah ape national lagi. Depa simpan saja duit itu.

Habis 1MDB dapat apa?

1MDB dapat sekeping kertas. Nama kertas itu I.O.U. atau 'saya ngaku saya hutang awak'.

Dalam bahasa Arab lama dia sebut camni 'nahnu kilbe wa antum khimar'. 

Maksudnya 'kami lagi pandai dan awak kaldai'.  Lebih kurang macam tu lah. 

Kekawan bloga prepaid, postpaid dan fully paid : tak lama lagi pasti ada seorang dari kalangan anta yang akan dapat anugerah Nobel Prize. Anugerah untuk kepakaran menjual negara, menjual bangsa, menjual maruah, menjual apa-apa saja lah.