WHO WILL NAJIB & ROSMAH BLAME NOW? OH NO! ANOTHER RM3.7BIL WENT MISSING & JUST LAST YEAR...

This is just off the Press. The Wall Street Journal says that another US$850 Million has gone missing. That is RM3.6 Billion at today's exchange rates.nto that private accounts.

In July the WSJ bocor the news that RM2.6 Billion went into that private account. That news turned out to be true.

Is there any reason to say that this missing RM3.7 Billion report by the same WSJ is untrue?

Here is the same news in Malay Mail Online :

http://www.themalaymailonline.com/malaysia/article/wsj-1mdb-sent-us850m-to-firm-made-to-seem-abu-dhabi-owned

WSJ: 1MDB sent US$850m to firm made to seem Abu Dhabi-owned

KUALA LUMPUR, Dec 17 — 1Malaysia Development Bhd (1MDB) transferred at least US$850 million (RM3.7 billion) to a firm whose name closely mimics that of an investment company owned by Abu Dhabi’s sovereign fund, the Wall Street Journal (WSJ) reported today.

Citing sources and financial documents that it sighted, the US newspaper said the Malaysian investment firm had in 2014 sent the amount to an “Aabar Investments PJS Ltd” that was registered in the British Virgin Islands.

The recipient firm’s name is almost identical to “Aabar Investments PJS” that is owned by Abu Dhabi’s International Petroleum Investment Co (IPIC), which the WSJ previously reported was missing a US$1.4 billion payment from 1MDB.

Thursday December 17, 2015 Today’s report by the WSJ is an update to its previous article alleging that a US$1.4 billion payment from 1MDB to IPIC, for guaranteeing the Malaysian firm’s US$3.5 billion bond issue in 2012, went missing. — Reuters pic

The payments were made in three tranches by a “unit” of 1MDB, the WSJ reported without identifying the subsidiary in question.

“Executives at IPIC and Aabar investigating the transfers have concludd neither of the two Abu Dhabi funds ever owned or controlled the British Virgin Islands company, according to the people familiar with the matter,” the WSJ reported.

The newspaper also said it was unable to identify the individuals behind the copycat firm, saying that records obtained from the BVI did not provide details of the owners or directors of the firm.

The WSJ added that both IPIC and 1MDB declined comment, although the Malaysian firm said it stood by its financial statements that showed it remitted the sum the Abu Dhabi fund reportedly said it never received.

Today’s report by the WSJ is an update to its previous article alleging that a US$1.4 billion payment from 1MDB to IPIC, for guaranteeing the Malaysian firm’s US$3.5 billion bond issue in 2012, went missing.

1MDB previously denied the sum was missing, insisting that its records show the payments were made.

IPIC and Aabar are intricately linked to 1MDB. Aside from the previous bond guarantee, both are currently involved in a debt-restructuring agreement that is part of the Malaysian firm’s rationalisation plan.

- See more at: http://www.themalaymailonline.com/malaysia/article/wsj-1mdb-sent-us850m-to-firm-made-to-seem-abu-dhabi-owned#sthash.C5aBggBF.dpuf

My comments : This RM3.7 Billion went missing LAST YEAR!! In 2014. Berani depa.

Folks, they sold the power stations for an RM3.0 billion loss (give or take). They are getting RM12 Bil cash.

But they owed more than RM42 bil. Even if you net the RM12 bil cash sale against the RM42b they still have a negative RM30 bil to pay back.

Plus they must also service interest on this remaining RM30 bil (not to mention compounded interest owed on the RM12 Bil).

Plus there is a USD element which has now ballooned by about 30% (at RM4.32 to the USD versus RM3.32 to the US$ earlier). So they actually owe more than RM30 billion now.

There is no more cashflow left because the power stations (the only cash generating assets) have been sold to the Chinese.

They have that parcel of land near Jalan TR which has stopped work. No construction work is going on. It will not generate any more cash in the foreseeable future. Period.

There is no way they are going to generate any more real cash flow to service and pay back the remaining RM30++ Billion hutang.

Now WSJ says another RM3.7 Billion has been stolen. Add this to the RM2.6 Billion it means RM6.3 Billion (at least) has been stolen.

So RM30 Billion + RM2.6 Billion "personal accounts" mystery + RM3.7 Billion missing = RM 36.3 Billion must be accounted for.

Here is a simpler illustration. Say you borrowed 40 eggs from your neighour

Then you secretly gave 20 eggs to your mistress.

You now have two things to account for.

First you still owe your neighbour 40 eggs.

Secondly you must explain to your wife what happened to those 20 eggs

So now you must account for 60 eggs !!

Anyway, they now have ZERO cash generating assets. The power plants have been sold to the Chinese.

This is where Jawak let the cat out of the bag earlier. Jawak said they will increase the Paid Up Capital of the company. They have no choice but to recapitalise the company.

They have no choice but to increase the Paid Up Capital by another RM30++ Billion.

Then this fresh capital injection will be used to settle all outstanding debts and balance the books.

Then the company will be wound up and we will never hear about it again.

The Paid Up Capital of the company is NO MORE RM1 Million.

Talk is the Paid Up Capital has already been raised to RM2 billion.

Media, please ask them if they have any plans to increase the Paid Up Capital of the company anymore? Say by another RM30 Billion, RM20 Billion, RM10 Billion etc.

That will be taxpayers money. Our money.

Capital is injected to start new businesses. So ask them what is the purpose of increasing the Paid Up Capital? - http://syedsoutsidethebox.blogspot.com/