Why is 1MDB’s RM18bn parked abroad?

10
234

Anwar Ibrahim has highlighted an Edge report that raised the question as to why 1MDB has parked RM18bn in the Cayman Islands and not brought it back to Malaysia?

Without a land revaluation surplus of RM2.7bn, 1MDB would have posted a loss of RM1.8bn in 2013, pointed out Anwar, citing the Edge report.

Anwar’s statement follows:

1MDB: 1 Malaysia’s Debt of Billions!

Merujuk kepada laporan kewangan 1MDB berakhir 31 Mac 2014 yang diselubungi pelbagai kontroversi -setelah lanjutan tarikh akhir audit daripada 30 September 2013 kepada 31 Mac 2014,dan perubahan juruaudit daripada KPMG kepada Deloitte – perlu ditimbulkan beberapa persoalan mengenai kedudukan kewangan 1MDB yang dipengerusikan oleh Dato’ Sri Najib.

Jumlah hutang 1MDB untuk tahun kewangan 2013 dilaporkan telah melonjak 4 kali ganda kepada RM 42bn berbanding RM 8.4bn pada 2012.

Walaupun jumlah aset untuk 2013 juga bertambah kepada RM 44.6bn, perlu diingatkan bahawa 1MDB perlu menanggung bayaran tahunan (debt service) berjumlah RM1.6bn, lantaran jumlah pinjaman yang berjumlah RM 36bn (2013).

Memetik kenyataan The Edge Weekly pada 28 April 2014 bertajuk “Edge Weekly unearths questionable deals of 1MDB, urges fund to bring home RM18b”, bahawa lonjakan pendapatan bersih pada 2013 pada RM 0.78bn berbanding RM 0.045bn pada 2012, hanyalah akibat aset nilaian hartanah (land revaluation). Tanpa nilaian tanah yang bernilai RM 2.7bn, maka 1MDB akan mencatatkan kerugian bernilai RM1.8bn!

Setelah boros membeli aset janakuasa tenaga bernilai RM 23.1bn yang rata-ratanya dibayar pada kadar lebih tinggi daripada nilaian semasa, beberapa laporan terkini jelas menunjukkan 1MDB sedang menghadapi kekangan aliran kewangan (cashflow constraints) dan sekiranya dibiarkan bakal mengalami kegawatan kewangan yang lebih besar di masa hadapan.

Malaysian Insider pada 25 April 2014 melaporkan bahawa 1MDB bakal membuat suatu “Initial Public Offering” (IPO) pada akhir 2014 untuk menjana dana RM 15bn, yang bakal dinobatkan sebagai IPO terbesar di Asia tahun ini.

Wall Street Journal pada 28 April 2014 juga melaporkan bahawa 1MDB sedang berunding dengan beberapa buah bank untuk menjana RM 2bn pinjaman jangka pendek (bridging loan).

Kami menjangkakan bahawa lebih banyak hutang akan dan perlu diambil 1MDB pada masa hadapan untuk membiayai kos projek mega 1MDB iaitu Tun Razak Exchange (TRX) dan Bandar Malaysia yang dianggarkan sekitar RM 45bn pada masa ini (dijangka bertambah).

Umum arif bahawa dalam keadaan ekonomi global yang penuh ketidaktentuan dan kedudukan defisit kewangan negara yang semakin melebar setiap tahun, wajar negara mengambil pendekatan berhemah dalam berbelanja. Bukannya terus berhutang semata-mata untuk mengaut keuntungan jangka pendek yang bakal mengakibatkan bebanan hutang untuk generasi akan datang.

Kiranya sikap berhutang sebegini terus dikekalkan, 1MDB rekaan Dato’ Seri Najib bakal gagal dan akan menjadi suatu lagi liabiliti negara yang wajar dikenali sebagai “1 Malaysia’s Debt of Billions”! ataupun Hutang-Piutang 1 Malaysia yang Berbillion!

Anwar Ibrahim
29 April 2014

Please help to support this blog if you can.

Read the commenting guidlelines for this blog.
Subscribe
Notify of
guest

10 Comments
Most Voted
Newest Oldest
Inline Feedbacks
View all comments
Uncle Jock

We have been led to believe that 1MDB was for investing funds to get returns like the way Singapore does it. Now, it is for Bumis only, as Dr M has pointed out. It is a different story everyday and we have yet to see any results from these so called “investments”. The onus is on Najib who being the Prime Minister cum Finance Minister to give convincing explanation to the public on how this fund has benefitted the nation and the people. Failure to do so quickly will cast serious doubts on the Najib administration. On the other hand,… Read more »

Don Anamalai

Sarawak Report has unearthed further exclusive evidence proving the links between the mystery tycoon Jho Low and Malaysia’s sovereign wealth fund One Malaysia Development Berhad (1MDB). It shows that in 2011 1MDB bankrolled a multi-million euro debt buy-out in Ireland, which formed a key plank in Jho Low’s strategy to get a controlling share of a London Hotel chain for his Wynton private equity group. This new evidence flies in the face of denials as late as last month by Low that he has had any involvement or received any benefit from the public fund. It also calls into question… Read more »

Stylo Logan

Jho Low is (tool) of Puterajaya?

kelty

Hisham is trying to say that Malaysia’s response towards the MH370 disappearance is better than the French?
http://www.youtube.com/watch?v=YlyB5TPh_gE

Meanwhile today The Star’s frontpage headline:
What were the 2.3 tonnes? Lithium ion batteries weigh less than 200kg, says firm
http://www.thestar.com.my/News/Nation/2014/05/03/What-were-the-23-tonnes-Lithium-ion-batteries-weigh-less-than-200kg-says-firm/
How to hide 2 tonnes?

Wee Chin

BN must also explain why the 1KM rail link between KLIA and KLIA2 costs RM100 million?
The KLIA 2 is no more low cost but high cost. It could have been completed for RM 1.5 billon but RM4 billion was spent instead.

Don Anamalai

This is the explanation by NST: 1MALAYSIA Development Bhd (1MDB) says substantial portions of its overseas funds have gradually made their way back to Malaysia to be reinvested in energy projects and real estate, and meet financial obligations. The funds had been earmarked for the development and acquisition of specific assets, 1MDB said yesterday in response to allegations it had been involved in questionable deals, and amid calls that it should bring home RM18.1 billion parked overseas, as claimed by certain news reports. Read more: 1MDB funds back home – New Straits Times http://www.nst.com.my/business/todayspaper/1mdb-funds-back-home-1.583026#ixzz30L5MyipZ Disclaimer: This does not mean that… Read more »

Osman Bako Ori

kalau ini benar benar Yang betul, you punya cucu akan tanggung segala dosa & hutang negara.

mungkin Satu haru nanti reverse-BR1M setial orang kena bayar balik RM6K untuk bayar hutang negara !

bigjoe99

The explanation for the monies is actually very strange – it first came about because of the PetroSaudi deal which supposedly they have exited and invested in some “Segregated Portfolio Company” in “various classes of shares”. The term “segregated” to mean they give given it some other fund management company in an illiquid and sophisticated structure they won’t reveal anything. Essentially, they don’t manage it and illiquid. Who are the fund management company? How liquid is the investment? What class of underlying risk is it about? I have participated in private vehicles before, but I have never met SWFs to… Read more »

bigjoe99

Well, when it collapse, they (might) get Ibrahim Ali to blame it on the Chinese..

najib manaukau

It takes a thief ti catch a thief !