Comment: We are all depressed reading this big scam job the thieving that Najib and Rosmah tag team and gang are doing with other international no gooders. How do we get back on track??? Will we ever?? Subject: Fwd: FW: Depressing Breakfast - Syed Akbar Ali 1MDB (1 Malaysia Development Bhd) is in debt to the tune of about RM38.0 Billion. They have bought two old IPPs (PPAs near expiry) in Malaysia. 1MDB says they generate over 4520 MW of power of which more than half (2490 MW) are power plants located overseas. Their website does not list the names of these overseas power plants. Isnt that strange? What is 1MDB trying to hide? Here is their website : 1MDB’s role in the energy sector is a strategic one, aimed at supporting a secure and robust energy future for the country. In 2012, 1MDB bought Tanjong Energy (now known as Powertek Energy Sdn Bhd) and a 75% stake in Genting Sanyen Power (now known as Kuala Langat Power Plant Sdn Bhd). 1MDB’s energy subsidiaries have a net power generation capacity of 4520.5MW, with 2030MW in Malaysia and 2490MW overseas Overseas itu mana? There is some flap now about Rosmah getting Cabinet approval to fly all by herself in the official plane to Doha which is in Qatar. No one is asking what Rosmah was doing in Doha, Qatar - with the Cabinets blessing? I say guys wake up. Pi lah tanya betul-betul. Kak Ros buat apa di Doha with the Cabinets blessing? Bazaar Ramadhan pun dah habis dah. I have a question. Who else flew on the plane with Rosmah? Or who waited for Rosmah in Qatar? Was that fei-low character present? You know that Paris Hiltons char kuey teow chef? Was he there? Does the trip have anything to do with 1MDB? Folks here are some of the Advisors of 1MDB from their website : 1. SPECIAL ADVISOR, HIS EXCELLENCY SHEIKH HAMAD BIN JASSIM BIN JABR AL-THANI, Former Prime Minister & Minister of Foreign Affairs of the State of Qatar 2. Advisor HIS EXCELLENCY KHALDOON KHALIFA AL MUBARAK, Chairman, Abu Dhabi Executive Affairs Authority, Chief Executive Officer & Managing Director, Mubadala Development Company. Pak Arab lagi. The RM38 Billion debt is mind boggling. Gila nak mampus. Say the interest rate is 6% per annum (on average, because the PM says the gomen has guaranteed only RM5 Billion of the RM38 Billion) that works out to about RM2.0 Billion in interest payments alone per year !! I say kawan what kind of business can generate earnings to service RM2.0 Billion interest payments alone? And this company was set up just about three years ago. Folks I am not saying more about the characters who are involved with 1MDB but just be informed that one name which recurs again and again and again in many of the financial disasters in this country is also involved in 1MDB. A leopard will never change its spots. People will do what they are used to doing. Once they are used to placing bets, it is very hard to cure that disease. Anyway here is more news about 1MDB : 1MDB has been placing its funds in the Cayman Islands !! Pasal apa pula Cayman Islands ? Why not Labuan Island? Isnt that our very own Offshore Financial Centre? Why go all the way to Cayman Islands? Defending their Cayman Islands investments 1MDB says this : i. these funds for cash management purposes are currently placed under regulated and licensed international fund managers managing Cayman Island based international standard fund structures. ii. Cayman Island ..established and well regarded jurisdiction for set-up and management of funds. Pi dah mabuk ! Arent the Cayman Islands a refuge for drug money, the arms merchants illegal money, the hot money from the Middle East etc ? And are the Cayman Islands islamic? You raise money through Islamic sukuk then you invest the money in a haram place like Cayman Islands. Yennadey? Here is more news about another strange investment called Caspian Sea Oil?? 1MDB loans to PetroSaudi put nearly RM6bil at risk Tony Pua says 1Malaysia Development Bhd (1MDB) is a giant ponzi scheme profits made to date are largely paper gains which have no impact on cash flow serious questions over the utilisation of large funds raised. paper transactions and revaluations issued bonds of RM5 billion at favourable rates raised questions in the finance industry at the time issued at discount 1MDB actually raised RM4.40 billion and not RM5 billion. Wow !! This is like a 13.6% per annum interest rate. The bonds had a face value of RM5 Billion. But the actual cash collected by 1MDB was only RM4.4 Billion (an RM600 Million discount). Simply dividing RM600m / RM4400m x 100% = 13.6% interest rate. This is like the Ah Long saying, saya kasi awak cash RM8640 tapi saya tulis hutang RM10 ribu ok. The Ah Long discounts 13.6% up front and only gives you RM8640 from an RM10,000 loan. You have to pay him back RM10,000. Same kira-kira applies. So who were the lucky fund managers who underwrote these 1MDB bonds at such a huge discount? Members of Ali Baba and the Forty Virgins clan? Maybe the Oo of Oo-ba-doo? Just what the hell is going on? That is our money. Then in September 2009 1MDB put in US$1.5 billion for a 40% stake in a US$2.5 billion JV with PetroSaudi International in some Caspian Sea oil venture. That is RM4.5 Billion (RINGGITS) ok. Petro who? Caspian Sea Oil? Cayman Islands? Just what the hell is going on? Ok so has the Caspian Sea oil generated much cash? That investment was made in 2009?? It is now 2013 - four years have gone by. Lets have some results. How many barrels of oil are they pumping per day from that investment? Well there were more things discussed at breakfast this morning. It will give you even more heartaches. So exactly what assignment did the Cabinet authorise Rosmah to undertake in Doha, Qatar on board RMAF One ? Inquiring minds want to know. It must have been something that is important and good for the country. So please share with us. Posted by Syed Akbar Ali at 3:51:00 PM 59 comments: syedsoutsidethebox.blogspot/2013/11/depressing-breakfast.html
Posted on: Fri, 29 Nov 2013 13:12:26 +0000
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