Never Let The Non London Speakers Pick Your Debater

I dont know how many of you watched Arul Kanda on Bernama TV a few nights back. He was interviewed by Bernama TV's lacklustre business talk show hosts. 

My first impression was that he should have stayed in high school debating, in the 'non London' speaking gomen school environment in Malaysia.  Maybe as a debating coach. This is the same environment that believed (at one time) that Anwar Ibrahim was fluent in Arabic.  (The movie 'Idiocracy' keeps flashing in my mind.)

Ok enough insults. Back to Arul Kanda - he was defending the indefensible 1MDB. Considering that this fellow is the CEO of the most scandalous company this country has ever seen in its entire history and that he has access to the minutest information he did not say anything new at all on that TV interview.

If Tony Pua is going to debate Arul Kanda the trick (as always) is preparation. Just get the facts and figures correct and of course ask those probing questions.

Michael Raj Abdullah (the Bernama guy interviewing Arul Kanda) asked the wrong questions or he asked the right questions in the wrong way. 

As an example Michael asked Arul if 1MDB had ever defaulted in its loan obligations. 

Arul Kanda replied 'No, never, not ever, nope' or words to that effect.  This is to be expected. Arul's job is to spin.

• Then what about that RM975 million bailout from the gomen? (That standby loan?)  
• Or selling that parcel of land to Tabung Haji? 
• Or that other mysterious RM2 Billion?

If I may suggest, the question should be or could have been framed like this :  

'Without that RM975 million standby loan from the gomen, or selling that land to Tabung Haji, could 1MDB have avoided defaulting on their loan obligations?'

I think that would have made it more difficult for Arul Kanda to worm his way out.

And here is another question for Arul Kanda :

Were any of your loans 'rescheduled' by the Lenders? Because if the GLC owned, ultimately controlled-by-the-gomen type of Lenders agreed to 'reschedule' your loan repayment, then of course there is no default. 

But what happenes if the Lenders do not reschedule?  It all depends on how friendly your Lenders are.

Another question for Arul Kanda - why did Deutsche Bank accelerate that billion dollar or multi bilion Ringgit loan? (Cant recall the exact figure). That was certainly a loan acceleration (bank suruh bayar balik duit ahead of schedule). 

Loan acceleration can only happen when 1MDB breaks some loan terms or conditions. Otherwise the bank can get sued. So Arul  please explain. No spin. 

It is not too late. Tony Pua can still ask the same questions.

Michael Raj also asked if Arul Kanda had met Jho Low after becoming CEO of 1MDB (I think I heard this question). To which Arul Kanda did not answer at all.

I think the question should be :

• when was the first time you met Jho Low
• when was the last time you met him
• how many times have you met him etc 

Prepare, prepare, prepare. 

Because Arul Kanda is no stranger to the 1MDB file from before he became CEO of 1MDB.  The bank he worked for in Abu Dhabi has a history with these folks.

Also ask Arul Kanda why and how he was picked (all the way from Abu Dhabi) to become CEO of 1MDB? 

• Why Arul Kanda from Abu Dhabi? 
• How did Arul get this CEO job? 
• Head hunting? Reccomendation?
• Did his previous association or acquaintance with Jho Low help? 

Why did Arul Kanda agree to be CEO of the most scandalous, 'got no hope' gomen owned company in the world?  

Does he have suicidal tendencies?

Here is another question for Arul Kanda - did any of his family members ever do business with Ananda Krishnan? 
Were they ever employees, agents or consultants to Ananda Krishnan? 
Just a simple yes or no would do.
If yes, then who were they (mom, dad, uncle, aunt, brother, sister etc) and what did they do?

Here is another question for Arul Kanda - the Chief Big Boss of 1MDB is the Prime Minister, Finance Minister, Bugis Wimp etc.  He is officially the Advisor of 1MDB. 

So how will it affect the reputation and integrity of 1MDB in the eyes of the non-gomen controlled world to have its Advisor acknowledge that he had RM2.6 Billion put into his private account (closer to RM3 billion they say when the accounts were frozen by the Lion City folks)  at a time when RM42 billion of 1MDB money have gone down the drain?

Here is another question for Arul:

The PM has never revealed exactly how he got this RM2.6 Billion into his account.  Sarawak Report has revealed documentation (including Board Meetings of 1MDB which Arul acknowledges as genuine) that traces funds flow (payments made) involving 1MDB funds going to a company called Goodstar.

SR showed documentation that the previous CEO of 1MDB had provided confirmation that  hundreds of millions be transferred to Goodstar's account.  Does Arul  deny these instructions given by the former CEO of 1MDB?

Here is the soalan cepu mas : Knowing all this, why did Arul Kanda still agree to be CEO of 1MDB? Suicidal tendencies kah brother?

Here is something else Arul Kanda said in that Bernama Tv interview that opens another can of worms. Tony Pua take note. 

Arul said that  after 1MDB bought the power assets (Genting,  Ananda's power plants etc) they used the power assets to raise a separate RM5 billion loan (camouflaged as a false islamic sukuk bond).  And there is an interest payment of RM150+ million due on this RM5 billion facility in November.

Ok here is question No 1 - How is 1MDB going to pay this RM150++ million interest payment (or whatever islamic bullshit they call it) that is due in November? Duit mana mari?

Ask the sukuk bondholders to "reshcedule", defer etc? (If they agree then of course no default.)  Who are the sukuk bondholders? EPF? Maybank? Socso? KWAP? LTAT? Who?

Another soalan cepu mas - what did they do with the RM5 billion raised from the sukuk?

The PM already said that he was so crever - he borrowed RM42 billion with just RM1 million paid Up Capital.  (Err by the way folks the Paid Up Capital of 1MDB is now over RM2 BILLION ok, please wake up).

So first 1MDB borrowed RM42 BILLION. Then using the power plant assets they raised another RM5 Billion.

• What did they do with this RM5 Billion? 
• What did they invest the money in? 
• Where is this RM5 Billion? 
• Can they ever get it back? 
• Or is this RM5 Billion also gone down the tubes? 
• Or into someone's private accounts?

Then Arul also said that 1MDB is hoping to raise cash from two main sources ie the power plants and its real estate / property developments.  

He did not mention those "water desalination plants" that 1MDB has foolishly bought somewhere in the arabian desert.  

The 1MDB guys point to a glossy website that says those water desalination plants exist. Do they really? Has Arul Kanda seen or visited those desalination plants? Are they functioning? How much cash, profits, dividends, losses, headaches do those water desalination plants generate for 1MDB?

Someone please ask Arul to explain? What is the value of those water desalination plants? Who valued them? Casey Lhow Ai Swan & Associates? What did !MDB pay for these water desalination plants? Is it true those water desalination plants are 25 years old and rusting? 

Here is another question : what is 1MDB's Return on Investment from ALL THIS RM42 Billion + RM5 Billion plus dont know what else?

Give us a simple number say for 2014? Was it 5%, 10%, 15%? I say Arul, what was the ROI for 1MDB in 2014?  People in the know say it is a negative figure. 

The cashflows from the power plants are completely eaten up by the losses from the property investments and the MISSING RM27 Billion. Those 'fund units' are worth jack sh*t. 

For Mat Maslan and the other 'cebuk dalam sungai' folks "Return on Investment" itu macam ASB bayar 8% lah.   Kalau kita masuk RM10,000 dalam ASB, lepas tu dia kasi kita dividen RM800 satu tahun, itu maksudnya pulangannya 8%. Itulah ROI bagi kita.


Folks, may I ask a favour.  Lets help this debate thingy.

Please list the questions or debate points that you would raise. I will tabulate it and put it up here so that both the debaters Arul and Tony can prepare well. Remember it is always 'Prepare, prepare, prepare'.

But remember this - you tell just one lie in an open debate and on live TV then you only open an even bigger can of worms.

(Arul you will most likely be getting calls cursing you for accepting the debate. Dont worry bro, if it is too difficult they will think up some excuse to call off the debate. National security, SOSMA or whatever. Just wait and see).