Lies, Lies and more Lies

Whether the total land value price of Bandar Malaysia is RM12.35b or RM10b, 1MDB’s debts are majority resolved leaving an estimated asset value of RM13b  – net of debt.

But of course Tony Pua and gang would not be happy that the famous RM42b attack can no longer be used.

Thus they have now picked on the difference between NET EQUITY VALUE and LAND VALUE to mislead people who do not understand this difference and saying that the sale of 60% of Bandar Malaysia was lower price than announced and 1MDB is trying to cheat people.

I find it really desperate by opposition now trying to dispute the selling price.

Whether BM is sold for RM12 billion or RM10 billion, the net effect is still that 1MDB debts are resolved.

More strangely. in June 2015, Tony Pua had also disputed that the govt’s RM11b valuation for the Bandar Malaysia land was massively over inflated!

“We want to know if the second minister of finance was spewing gibberish and just plucked these new outlandish valuations out of thin air to present an optimistic picture of 1MDB.

“How were these new valuations arrived at? Or are there more sinister reasons why the values have been massively inflated?” asked Pua.

Very strange. At that time Tony Pua said the valuation was massively over-inflated and now he is questioning if the price paid by the 60% buyer is lower than announced.

What exactly do you want, Tony Pua? Price too high, you complain and scold others (giberrish, outlandish, pluck from thin air) . Price is lower you complain and scold others “boo hoo and liar”.

1MDB had already clarified that the RM7.41b is the effective sale price.

Remember the Edra deal where the sale price of RM9.83b was announced but the net value to 1MDB is RM17.3b because the buyer also have to assume RM8b of 1MDB debts?

Whether you pay cash or take over the debt, the effect to 1MDB is the same since it is entirely funded by debt. If 1MDB receives money from the buyer, they will still use the money to pay the debt.

Same thing as in the Bandar Malaysia land sales deal. the 60% consortium may pay RM5b but may take over RM2b worth of debt.

Even the main buyer, Iskandar Waterfront Holding’s managing director Tan Sri Lim Kang Hoo said yesterday: “RM7.41bil is the correct figure,”

Even the 10% deposit is RM741mil  – indicating the agreed valuation pending completion is RM7.41b.

Is Tony Pua the buyer or is IWH and China Rail the buyer? Who would know better?

And please stop the attacks on 1MDB. It is time you realize that you are now fighting a losing battle and it is time for you to cut loss since your attacks on 1MDB are increasingly getting more desperate and ridiculous – not befitting a person who apparently studied economics and understands the differences in financial terms. -stopthelies