IT’S AS THOUGH NAJIB & CO HAVE NEVER SEEN MONEY BEFORE: THE STEALING IS ACCELERATING, FROM FELDA LAND TRANSFER TO TRX106 TO BANK NEGARA’S RESERVES, NAJIB & CO NO LONGER CARE SO LONG AS THEY GET HOLD OF CASH

That sale of the TRX 106 represents more stealing of taxpayers money.

In the beginning that land belonged to us the citizens and taxpayers.

Government owned land.

Then the thieves sold the land cheaply at far, far below market value to the 1MDB mob. They sold it for RM60 psf or something. So the citizens and taxpayers were paid peanuts for prime land.

Then the 1MDB thieves resold the land to outsiders at full market value, reaping an enormous profit for themselves. Cheating us, the citizens and taxpayers of the full value of the land.

Now we are told that the people who bought the land are developing a 106 storey tower on that land (the building is almost complete).  My guess is that building costs at least RM2.0 Billion. That land alone is said to be worth over RM600 million.

Looking at their past behaviour the construction cost must have also been inflated.

But there has been no announcement of exactly who is financing such a massive building project.    Who is paying for the construction cost?

Because there is no way that any sane bank or banks would finance such a huge super luxury project in this present market situation.

That monkey minister announced in November 2017 that the gomen is freezing luxury projects. Because there is already an oversupply of luxury projects in Malaysia especially in the Klang Valley.  Here is that toilet paper :

 

November 19, 2017 

• govt frozen indefinitely luxury property dvlpmnts from Nov 1
• to control oversupply from adversely affecting economy.
• Monkey Minister II said today Cabinet decided this
• after scrutinising Bank Negara report on real estate glut.
• high-rise condos, malls and commercial units, worth more than RM1m” he said

So who  financed the construction of this building?

I think it is the gomen.

Looking at how these thieves have been operating, I will not be surprised if the gomen has quietly been funding the construction of this building, without telling us.

This suspicion arises because now all of a sudden, the gomen has announced that  they are taking 51% equity in this TRX 106. Why ?  And for how much?

Read that toilet paper report again. The monkey already announced in November last year  that the gomen is freezing luxury projects.

If so, then why the hell is the gomen taking 51% equity in a super luxury tallest-building-in-Malaysia project?

I think what they have done is they have converted whatever loans the gomen has extended to the TRX 106 project  into equity.  Hutang sudah tukar jadi equity.

And not just hutang tukar into equity but certainly there must also be a hefty premium involved. They would have valued the building at full market value, with all its inflated cost of construction and stuff.

Money is being siphoned out again – by the same mob.  They just dont care.  The stealing is continuing non stop.

Then they made Bank Negara buy that piece of land for RM2.0 Billion.  This is so insanely ridiculous. It is just left pocket and right pocket. This is just another method to siphon money (legally) out of Bank Negara. Once the money is paid by Bank Negara it goes into the gomens general account (or general ledger) and from there it can be used for anything – like paying off that US600 Million IPIC payment that became due.

Here is Malaysia Chronicle with a story about that Bank Negara money moving scam. This story was first written by Ganesh Sahathevan.

 

 

• This story on its own is a joke.
• Bank Negara now wants us to believe that it has become a landowner, and property developer:
• Bank Negara buys land for RM2b for financial education hub
• Many have speculated that this is nothing more than a MOF Inc money go-round, organized to help MOF Inc meet its USD 600 Million payment to IPIC, which fell due on 31 December 2017.
• What is not in doubt however, for these figures below are from Bank Negara’s own fortnightly statements of assets and liabilities, is that in last two weeks of 2017, Bank Negera’s printed or otherwise put out into circulation RM 2 Billion, while the Ringgit value of the reserves of gold and foreign currency fell by about RM 20 Billion.
• The steep fall in the value of the Ringgit against the USD between 15 December 2017 and 31 December 2017  did little to stem the fall in reserves.
• END – http://realpolitikasia.blogspot.my/

My conclusion  : It is just non stop stealing.  If despite all this, these thieves are still voted back into power, then it is best that the people who vote for them just go and jump in the sea.  You are going to become even more stupid and even poorer. That will be your fate.

– http://syedsoutsidethebox.blogspot.com