“Therefore, I stress again that I am not guilty of the allegations made, and will not resign from my post as instructed,” Zakaria said in the letter.
Pedestrians walk past a 1MDB billboard near the Tun Razak Exchange (TRX) construction site in Kuala Lumpur on March 11, 2014. — Sunpix by Asyraf RasidHere are my thoughts on the latest civil suit based on that 250 pages court submission from the USA’s Department of Justice submission:
1. It is still a civil suit for forfeiture of assets and not a criminal suit.
2. It is essentially a continuation of the previous suit in July 2016.
3. None of the money allegedly spent or invest legally belongs to 1MDB.
4. DOJ’s allegations that the BSI or Cayman units were over-valued or wrongly-valued are irrelevant to 1MDB
As previously explained, the value of the units are guaranteed by the real Aabar Investments PJS. As far as 1MDB is concerned, the minimum value of the units is what Aabar had guaranteed it for. As was reported by the Singapore press, Aabar had arranged a buyer for the USD2.5 billion units (which includes the USD940 million units remaining in the BSI funds) and that 1MDB had already started to receive the cash proceeds.
In 1MDB’s point of view, they had a certain money in the BSI units guaranteed by the real Aabar. Since the real Aabar had now gotten someone to buy the fund units and pay 1MDB the correct amount then there is no question of whether the fund units are worthless or undervalued or overvalued.
5. DOJ’s allegations that money was siphoned off from 1MDB’s Deutsche Bank loan has nothing to do with 1MDB
However, DOJ also confirms that the sole director of Aabar Seychelles was the Managing Director of the real Aabar and that the shareholder of Aabar Seychelles listed in the certificate of incumbency (also known as the company registration) document is the real Aabar.
Therefore, if there was any siphoning of money or fraud, it was Aabar PJS in the Abu Dhabi which was defrauded – not 1MDB.
Which brings us to the next point…
6. Neither Prime Minister Najib, Rosmah nor 1MDB was named as a defendant in the DOJ civil suit.
This means the US DOJ does not consider Najib, Rosmah or even 1MDB to have committed any wrong-doing. In fact, one Abu Dhabi’s sovereign USD125 billion fund Mubadala Investment Company which owns IPIC and Aabar now has now been named as an involved party whose interests will be affected.
7. There is no evidence that Rosmah ever received the US$27 million diamond
Jho Low was also alleged to have given millions in jewelry to his alleged girlfriend, the super-hot Australian model Miranda Kerr who recently married the SnapChat billionaire founder .
So, if receiving a gift is illegal then Jho Low’s mother and Miranda Kerr will have to go to jail too.
However, the circumstances which the DOJ says that Rosmah was alleged to be the recipient of the diamond is very suspicious.
Firstly, the DOJ alleges that Rosmah viewed the diamond with a group of people on board of the yacht called Topaz.
The Topaz is not any ordinary yacht but at that time was the largest yacht in the world and was and is still owned by Sheikh Mansour bin Zayed.
According to the DOJ suit, it is important to note that Rosmah did not make the order for the diamond, pay for the diamond nor personally received the diamond.
It has also never been proven that she even posses the diamond.
7. The whole diamond necklace and DOJ lawsuit seems suspiciously politically-motivated
Firstly, the DOJ had no evidence that Rosmah ever received the diamond but proceeded to include that story in all its juicy details in the suit anyway.
Secondly, the story has always been consistent with the opposition story about Rosmah buyting diamonds and cincin – until PKR’s Rafizi Ramli was sued by Najib and said to the court that he was “just joking”
It is no secret that Pakatan is hoping for a “Malay Tsunami” and such a story at such a timing would benefit Pakatan the most.
It is also no secret that Pakatan is working with and has received funding from George Soros to help topple the BN government and Najib.
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| please don’t call Anwar as a “barua” Amerika |
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| One reason why the USA should remove Najib: China! |
The secret documents from Wikileaks showed that Soros told the US Government that PM Najib is not fully loyal to the USA and plays both sides with China.
Soros also told the USA Governmetn that Anwar would be instrumental as the new leader of Malaysia if Najib falls. And even if Najib doesn’t fall, Anwar can provide the USA Govt with “insight and strategic leverage” on Malaysia.
Four months later after that lobbying, the USA Government’s DOJ launched a civil suit against 1MDB and popularizing the MO1 name to cause maximum damage to PM Najib and BN.
How coincidental and convenient!
Strangely, some pro-opposition individuals in Malaysia are even proud and prepared to be called a CIA agent or foreign agent as was reported just last week in MalaysiaKini.
Why would Malaysians and our opposition leaders want to work with foreign powers to launch propaganda attacks and bad-mouth Malaysia just so they can be the ones in power?That is sabotaging your own country, bro. It’s treason.
8. 1MDB’s profitability and progress is unaffected. No Malaysians or their future generations will end up paying for 1MDB’s debts.
If you can believe MalaysiaKini then the profitability of 1MDB will be even more as the forecast that the value of Bandar Malaysia is RM90 billion instead of RM26 billion.
Hence the value of 1MDB’s assets is RM124 billion compared to RM41.7 billion debt.
For so long, Pakatan and their friendly portals have been saying that govt will go bankrupt because of 1MDB’s debts (which is already substantially repaid with the rest taken care of) and that govt has to use GST, use fuel subsidies, use sugar price bla bla bla to bail out and that this debt will be a burden on your next generation and the generation after that.
But now the Pakatan folks are saying that Govt will make huge profits on 1MDB and there is no more debt that will be a burden on your next generation and the generation after that or need to bail-out?
9. Unlike in the past, the financial markets did not react to the news of this DOJ suit.
The Ringgit did not weaken substantially and the stock market did not drop.
In fact, the Bursa stock market went up today despite the news. It continued its rally as Malaysia’s economy continues to perform well and our prospects continue to brighten. Investors continue to believe in the transformation agenda under Prime Minister Najib.
10. Unlike in the past, Malaysians now seem indifferent to the DOJ-1MDB news
As Uber-Blogger Rocky Bru observed today:
“It’s been a year since the US Department of Justice made that explosive lawsuit announcement involving 1MDB. Since then, the Americans have elected a new President, Dr Mahathir Mohamad has confirmed his desire to be Prime Minister of Malaysia once again, and the DOJ’s lawsuit hasn’t moved an inch. The department’s latest “action” has similar elements and juicy bits that featured in its “action” of last July’s. So why aren’t Malaysians not debating it like they did last July? I belong to several dozens of WhatsApp groups but only one is discussing the DOJ’s action and by “discussing” I mean one individual has been providing all the links to DOJ news that might be spun against PM Najib Razak. Does that mean we are immune to news involving alleged corruption and stealing of billions from our coffers?
Or are Malaysians generally not buying what the DOJ’s claiming, especially since nothing has come out of their last action?”
The "thirteen million plus Ringgit" guy rambles.... 
Living On A Prayer
The partiality of media is apparent when it is selective in their stories about a flight from a very ‘friendly’ low cost carrier, when the mitigating matters could probably witness the worst air disaster in Malaysian aviation history.
The Star story:
There are many issues arisen from the incident. Especially for an aircraft which has been in operations for less than two years.
The latest fleet of AirAsia A330s use Rolls Royce Trent 700 engines.
Considering the aircraft and engines are very new, it is a major global aviation interest how did the blades of the port side engine blew off mid flight when she is levelled flying 90 minutes away northeasterly over South Indian Ocean towards Kuala Lumpur.
What is more astonishing, the aircraft shook violently on the turn back towards Perth.
The Star did not even carry the story about the aircraft could be grounded for months, to the rare incident for such a new aircraft.
NST story:
The Star is noticed to have failed to highlight that AirAsia X and AirAsia have into past lost their Airline Operating Certificate (AOC) believed mainly due to non compliance, which include failure to update the operating manual.
The Sun story:
The incident was made worse with the stupid and highly distasteful remark by a failed politician Dato’ Zaid Ibrahim, who attacked the Captain who encouraged passengers to say a prayer as he commandeered the aircraft back to its origin.
The Star which is a media group where the principal officer of the AirAsia Group Tony Fernandes sit in the BoD, chose to highlight the AirAsia X CEO Dato’ Kamaruddin Meranun’s attack on Zaid’s obvious faux pas.
The Star story:
It is good to have a friendly media as an extension to the marketing and promotion effort for a low cost carrier such as the AirAsia Group, which business model is very reliant on the volume of take ups.
However, the media should not be noticed to be ‘kind’ in the manner of watering down or completely omitting some of the stories, especially the severity of incidents.
Especially when it comes to safety issues and non compliance or even worse, negligence.
It is very distasteful to thread and trot on the misery of others, especially after a deadly tragedy. However the doomed aircraft of the tragic AirAsia Indonesia flight from Surabaya to Singapore has been found 19 months ago to have defective maintenance issues.
- Commentary
on June 27, 2017 at 23:00 Comments (5)