For Umno, there are good and bad communists

YOURSAY | ‘Part of our prized assets is sold to China, wouldn't your pride be dented?’

Najib: As promised, 1MDB's winter is over

Saya Pun Nak Cari Makan: On the contrary, PM Najib Abdul Razak. Your nightmare has just begun. In the first place, where has the billions in cold cash disappear to?

Selling an asset which 1MDB acquired at a dirt cheap price just to cover the debt is not the solution. Any mediocre businessman could have made billions already, if he bought the assets for a song.

Shame has no bounds, especially when the assets are sold to none other than China. When a communist ethnic Chinese, Chin Peng, begged to be buried in his hometown, there was a big hue and cry. Umno was at the forefront, condemning the atrocities of the communists.

Yes, no land as resting place for a dead communist! Umno's dignity was at stake. What now? Part of our prized assets is going their way, and wouldn't our pride be dented?

Kim Quek: So, Najib, your nightmare is finally over, 1MDB scandal is resolved, and everything is fine and dandy - right? Wrong!

Yes, 1MDB has averted immediate bankruptcy by selling some assets, but what about the billions that have disappeared from the so-called sovereign wealth fund wholly owned by the Finance Ministry?

Of the some RM50 billion owed by 1MDB, the only major assets it has acquired are the energy assets that it is selling to China for some RM10 billion (incurring a loss of RM3 billion), relieving its debt burden by RM17 billion.

Where has the remaining some RM30 billion gone to? Unless you can show us where the money is now, we have to assume that it has been embezzled or lost.

Please don’t count the gold mines that are the Bandar Malaysia land (500 acres) and Tun Razak Exchange (TRX) land as 1MDB’s financial achievement, for these were alienated to 1MDB by the government virtually for free.

Najib, we have had enough of theatrics from you and 1MDB; what we want now are the hard facts. Where is the missing RM30 billion? Please account for it.

Pl3gm4tic: So you created capital by selling lands you owned to a foreign company with a portion of it to service the interest of your borrowings for your capital. Greatest idea on the planet?

You could skip all this by selling the land without borrowing in the first place? That way you won't have to incur the interest?

Guyintheglass: What rationalisation? This is selling assets to pay debts. Isn't this what a receiver will do when a company is declared insolvent?

Alamak!: Do you see spring and flowers blooming? Najib has just sold our land to China to fill the great big hole.

African leaders are in similar deals with the Chinese and the loss is borne by their now many landless citizens. This is going to turn into harsher winters to come.

N1: Maybe the Chinese minority in Bolehland should start supporting the PM.

He is actually helping companies from China to buy key assets in this country. Soon the local Chinese will no longer need to be second-class citizens any more.

Frankiepo: Okay, here, I'll forgive you after you'd managed to cleared the debt.

Next thing you have to do is to find out the culprits who put 1MDB into such a mess and the loss of highly valued Malaysian lands. Can you do that in six months’ time?

FellowMalaysian: Selling away mass swath of prime estate given to 1MDB at an outrageously low price in order to defray the sovereign state fund's massive debt could hardly be considered as having resolved 1MDB's problems.

This has not in the least possible way relief any of the senior officers of their responsibilities and possible culpable liabilities in accounting for the billion-ringgit losses that has somewhat and somehow surreptitiously disappeared into thin air.

So far, after nearly seven months of intensive investigations carried out by virtually every major enforcement and financial-regulatory institutions of the country, we are in no better position than when we started in June to draw any plausible explanation for 1MDB's massive misappropriated funds.

Until and unless such losses are traced and restituted, any selling of properties to reduce debts will not absolve or mitigate 1MDB's legal and financial responsibilities of their losses.

Tell the Truth: Don’t live in denial. Your debt is no longer RM42 billion but RM55 billion because you forgot the ringgit has ‘jatuh’ (drop) by more than 20 percent.

By the way, you haven’t answered the question, ‘What happened to the RM2.6 billion?

SusahKes: Mr PM, we've all been reading what the Wall Street Journal recently wrote in its editorial. And the manner and temperament of their writing strongly suggests that they are not done yet with their expose on 1MDB.

In addition, that 'donation' that you received from your 'friendly' yet-to-be-identified-donor has caused the country to be listed as one of the worst scandals of 2015.

May I then remind you that in some parts of the world winter can be pretty long. And I, for one, believe that you have a long winter in 2016. It's not over by a long shot. Not even the Chosen One has control over the weather.

Perak Boleh: Apa lagi Cina mau? Orang Cina boleh beli tanah Bandar Malaysia below market value at RM200 per square foot (psf) and orang Melayu/Islam via Tabung Haji had to pay an inflated price of more than RM2,700 psf to buy TRX land.

Nil: You have two cows, but no money to buy rice. So, you contracted to sell one cow. You now have money to buy rice, but you only have one cow left.

Winter is not over, it will get colder, although it is spring.

Hearty Malaysian: No one should be proud to sell off assets to pay off one’s debt and end up with no debt and no asset. -Mkini