Thanks to 1MDB, here comes the real 'Chinese tsunami'

YOURSAY | ‘Are we seeing a slow economic colonisation of M’sia by China?’

1MDB sells off 60pct stake in Bandar Malaysia

Dont Just Talk: The Bandar Malaysia land rightly belongs to all Malaysians, which 1MDB bought from the Malaysian government for a song.

Due to the alleged financial mismanagement of 1MDB to the tune of RM42 billion by the management committee headed by the finance minister,1MDB had to dispose the prime land for RM7.41 billion to a consortium involving China Railway Engineering Corporation (CREC).

The conclusion to the sad episode is that this piece of prime land in the city centre are now owned by a foreign-registered company, which will be developed and resold to Malaysians at ridiculous prices, and the Chinese minority will be blamed as usual.

Retnam: RM7.41 billion for 60 percent of the land, which is about 100 acres - this works out to about RM200 per square foot (psf).

But they sold Tun Razak Exchange (TRX) land to Tabung Haji for RM2,000 or more psf. Of course, Umno Malays will be proud of this.

Shamu99: Indeed, you obtained land cheaply from the government and sell it at a higher price to settle your debts, what kind of rationalisation plan is that?

So basically the profits from the land sale are paying for 1MDB’s failure. It doesn't take a genius to do that.

LKT: Back in May 2013, Najib said it was the "Chinese tsunami" that resulted in BN’s poor performance in the 13th general election. Today, we are witnessing the real ‘Chinese tsunami’ in action.

As for Utusan Malaysia, I hope you are happy with the answer to your question - "Apa lagi Cina mau?"

To all the ‘ketuanan Melayu’, especially those three million Umno members, I hope you are happy with your God-chosen leader.

Democrat: Are we slowly but surely seeing the slow economic colonisation of Malaysia by China?

I am not an economist or financial expert, but it appears to my mind that this is the case. Will someone explain this?

CQ Muar: This transaction can liken to, say, a top executive of Bank Negara who manipulated and embezzled millions belonging to central bank.

When subsequently caught over the criminal act, he promised to dispose his assets and properties to repay the stolen money.

Question to ask: Will he be eventually imprisoned for the crime despite fulfilling his undertaking to settle the ill-gotten money?

In the case of 1MDB, Najib sold off stakes belonging to the nation to reduce the unexplained debts amounting to a few tens of billion. Hence, should Najib be rightfully jailed for such despicable malpractice or criminal act?

Is a prime minister absolved from such crime or immune to legal proceedings? Is this what Umno/BN advocates or represents? Is this what the powers-that-be call fairness and transparency?

Your answer is as good as mine.

Anonymous #19098644: Once upon a time this land belonged to the people of Malaysia.

Today due to the devilish machinations of 1MDB, 60 percent of the land now belongs to foreigners, and the looters still go unpunished.

SMC77: I find this is deal is lopsided as in any mega land deal, the landowner will not enter into a deal if there is no agreement on how the buyer is going to settle final payment.

We don't know whether Iskandar Waterfront Holdings (IWH) has the financial resources to complete the deal. Although CREC is financially sound, the same cannot be said to IWH.

Before 1MDB can announce the deal completion, I will treat this as a pinch of salt.

James_3392: Minister in the Prime Minister’s Department Jamil Khir Baharom, is this not an investment too good to be sold?

MA: Perkasa leader Ibrahim Ali and red-shirt leader Mohd Ali Baharom aka Ali Tinju along with the rest of the gatekeepers for the ‘ketuanan Melayu’ must be hopping mad, now that our PM has agreed to sell a part of the 1MDB stake to a Chinese-led consortium.

Want to riot again in Petaling Street? As you often say, all Chinese are cheaters. And you allow this to happen? How come?

1MDB chief laughs off question on WSJ claims

Mushiro: 1MDB chief Arul Kanda has become a master at shamelessly avoiding questions on 1MDB.

1MDB’s RM42 billion debt is a big concern. And selling a prime piece of Malaysian land to foreigners to recover this loss is not a smart move and even traitorous.

Ib: In a perverse way, selling more land to mainland Chinese companies is good for the country because it makes it harder for the Malay extremists to make noise about the country’s Chinese minorities. -Mkini