The Edge’s tabulation yesterday was slightly different from Mahathir’s earlier tabulation. But no matter which list, plenty of questions are raised.
The Edge’s tabulation (31 May 2015)
15bn – power plants (overpaid?)
13bn – high-risk unnamed investment “units” (values in doubt)
4.25bn – deposited with Aabar Investments (Abu Dhabi) for guaranteeing US$3.5bn bonds
9bn – interest payments, discounts to bond holders and payment to Goldman Sachs
2.4bn – 1MDB financing cost (2014)
Now let’s compare that to
Mahathir’s tabulation (23 April 2015) from his blog post
8.5bn – Purchase of Tanjung Energy from Ananda Krishnan (higher than market price)
2.3bn – Purchase of Genting Sanyen power plant (higher than market price)
1.2bn – Purchase of Jimah Energy
12.0bn – Purchase of power assets
0.3bn – 70 acres Jalan Tun Razak land (Bought at RM64psf vs market RM7000psf)
0.4bn – 495 acres former Sungai Besi for Bandar Malaysia (Bought at RM91psf vs market RM1000psf)
1.4bn – 234 acres of Air Itam land (RM135psf)
27bn – Balance – Where is it?
1bn – Paid to Petro Saudi
Losses incurred by government on sale of land to 1MDB (according to Mahathir)
5bn-plus – Sale of Jln Tun Razak land (market value RM6bn but sold to 1MDB for RM0.3bn)
20bn – Sale of Sungai Besi land (Bandar Malaysia) below market value
This RM25bn is what Mahathir says the government lost by selling land on the cheap to 1MDB. That loss to the government is 1MDB’s gain as it reaps surpluses on land revaluation over the years.
That is why Najib can say 1MDB has over RM51.4bn in audited assets (which includes these two plots of land) for the year ended 31 March 2014.
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the money trail…why need to (allegedly) transfer to JHO LOW;s account….?
Muhyddin returned last night with so much speculations about him quitting to challenge Minnie. Internal turmoil brewing within UMNO?
But they have much to lose by quitting the Cabinet – position and perks.
He has never or ever say he will resign or is against Najib. It is the spin doctor & sycophants of M, CAT and defacto that is spewing lies and deception
Anil should provide live reporting from PWTC this Friday the ‘Nothing To Hide’ dialogue with Najib.
Nothing to hide? That should be fun! Didnt hear about this dialogue…
Of course there is nothing to hide. As we all know it’s all speculations and lies by The opposition without any proof
Najib will hold a dialogue session entitled “nothing to hide” with some 1,500 people from NGOs and civil society groups on June 5 at Dewan Tun Hussein Onn, Putra World Trade Centre, from 9am to noon.
Organised and moderated by the Malaysian Volunteer Lawyers Association (SukaGuam), the session will give participants an opportunity to ask questions regarding Najib’s leadership in government.
If Mahathir is to attend, sure MELETOP! Anil should be there to report first hand.
I am sure the online main media will be there in full force..
If 1MDB which is speculated lies, this sure is not a lies. Look at pAKATAN dap pkr & pas that create isuse after issues which were non existence during BN time. Bible, cross, Allah and now this. If hudud and islamic state is not an issue what then is …. Where is the CAT & senior and DAP. They ponteng or sleeping.
Liquor ban: Selangor medical halls want to meet council
RM42 billion can provide comfortable livings for all Malaysians with proper clean administration.
Mahathir said it was “unacceptable that” huge sums of money – which were borrowed with a Government guarantee – could not be accounted for, and questioned what else Najib bought and earned with the US$42bil, which is allegedly unaccounted for. Dr Mahathir added that whether it was “Jho High or Jhow Low” who was responsible, the entire issue was full of errors, as the people in charge must know where the money went, even if investments incurred losses.
M said from hearsay but Najib said otherwise and it’s from facts
Dare you write to Putrajaya & complain meaningfully. Sure get a fast response rather than wait for more likes here in anilnetto.com. Can or not??? Also, attach your real name.
If you take a step back and says – does 1MDB make any sense? What is the point of these “investments”/?? You look at it and the only conclusion is the real intention of 1MDB was a tool for Najib’s own political and personal purpose. THERE IS NO NATIONAL REASON FOR 1MDB – and not only did it cost us RM25b in real estate to bail it out – it put the entire country’s credit, currency and even the financial system could have been at risk.. 1MDB is a STUPID IDEA IN THE FIRST PLACE AND STILL IS A STUPID… Read more »
In the very first place, why should a Prime Minister put so much focus on ‘investing’ in the name of business transaction with rakyat money? He should instead focus on his KPI of implementing all those Rancangan Malaysia projects to benefit the rakyat.
If he likes to dabble in business, then he should not be a PM and instead join his brother in the business world. I suppose CIMB would have been in great debt under him!
Go advise him straight in the face lah.
““This RM25bn is what Mahathir says the government lost by selling land on the cheap to 1MDB. That loss to the government is 1MDB’s gain as it reaps surpluses on land revaluation over the year“““ First of all we must ask when was the deal concluded. 2 or 3 years ago or 5 years ago. You surely can`t compared property prices 3 or 5 years ago and now. 5 years ago I brought a single storey house for only 200k plus but now its worth about 800-900k without renovation. 3 years ago I brought a condo 900sq ft for 180k… Read more »
Questions that Lim Kit Siang want the BN ministers to answer: – Can the ministers explain to the public what 1MDB has to give in return for Abu Dhabi-based International Petroleum Investment Co (IPIC)’s US$1 billion so that 1MDB can settle its US$975 million syndicated loan? – Since 1MDB president and group executive director Arul Kanda Kandasamy has denied that IPIC’s US$1 billion mentioned by Husni was “a loan, debt or bailout”, does any minister know what this US$1 billion of IPIC is, which is not “a loan, debt or bailout”? – Do the ministers know whether 1MDB is being… Read more »
This RM25bn is what Mahathir says the government lost by selling land on the cheap to 1MDB. Is this a gomen’s way to guarantee a cash-parachute for 1MDB should anything goes wrong by reselling the cheaply bought land at future’s higher price. A future’s bailout? Now, these 2 make my blood boils: 4.25bn – deposited with Aabar Investments (Abu Dhabi) for guaranteeing US$3.5bn bonds Who in their right minds would do so if 1MDB was to be properly managed to bring in profits? Even selling Char Koay Teow which takes years to make it profitable doesn’t need this – a… Read more »
1MDB is like a one-stop agency linking all the government bodies under the central command of ‘My-way-or-highway’ Najib, so there is not much MACC or AG could do. The land entrusted to BN belongs to rakyat, but it has been pawned to cover the debt incurred by mismanagement of 1MDB, so much so that it has been fallen to foreigners’ hand, call that not selling out Tanah Melayu? TRX and Bandar 1Malaysia could end up sitting on land dijajah orang Arab (Aabar?), 58 years after Tunku proclaimed Merdeka?
This is the modus operandi of a scam: start a project or company, buy assets (e.g. buy government land at dirt cheap roice) and procure services from cronies and get kickbacks. Then they run down the company. They then sell the assets in a fire sale to more cronies who then get more public funds to bail out the scam and so on.
If gomen is caring enough to use some of this money to help small time entrepreneurs like us by way of undiscriminated small loans + funds, the national economy will be self-rejuvenating & there will be more employment. No need for scramble for Ali-Baba business opportunities ending with chicken feeds which often lead to sub-standard works.
But these leeches of our national assets will never understand while standing in the gravy trains of midnight runs.
Najib gadai tanah melayu kepada orang Arab(?)
Jibby’s cousin is smart enough to create a back door exit for his political survival with his 3 conditions 1) rationalisation of 1MDB, 2) accountability if there is wrongdoing, and 3), transparency on (conditions 1 and 2), knowing that the trapdoor of 1MDB will eventually come into play?