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Another 1MDB shocker by WSJ: Where did RM3.7bn go?

Anil Netto
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Najib and Arul Kanda have more serious explaining to do:

They should respond to this WSJ shocker: Malaysia’s 1MDB sent US$850m to entity set up to appear owned by Abu Dhabi wealth fund

A 1MDB unit transferred at least $850 million via three transactions last year to a British Virgin Islands-registered company with a name that made it look like it was controlled by IPIC, according to wire transfer documents viewed by the Journal and two people familiar with the matter.

The 1MDB fund sent the money to “Aabar Investments PJS Ltd.” which closely resembles the name of IPIC’s wholly owned subsidiary Aabar Investments PJS, the wire documents show….

Officials at IPIC say neither they nor any subsidiary received this money, the Journal reported.

Earlier:

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1,000 fisherfolk protest against land reclamation plan in southern Penang Island

Anil Netto
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1,000 fisherfolk protest against land reclamation plan in southern Penang Island

This is one of the last bastions of fishing in Penang Island. Notice that the protesters are both Chinese and Malay: this is certainly not a racial issue for cheap politicking. The real issue is the potential loss of livelihoods of the fishing communities and of an important source of food supply for Penangites – to make way for property development, much of it probably for the high-end market.

Rampant property development, a large chunk of it to feed real estate speculators, had already gobbled up most of the vegetable farms in Penang. Now, we have to rely heavily on Cameron Highlands for local vegetables.

Will the same thing now happen to the marine fisheries sector?

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Mahathir on Najib, 1MDB and the RM2.6m ‘donation’

Anil Netto
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Mahathir on Najib, 1MDB and the RM2.6m ‘donation’

Mahathir in vintage form. Where is the money from the RM2.6bn donation, he asks? Why isn’t it reflected in Umno’s financial statements over the last couple of years.

Najib, he says, is not fit to be the prime minister.

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Najib, watch this: Mahathir mobbed in KL

Anil Netto
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Najib, watch this: Mahathir mobbed in KL

Check this out. The reception Mahathir got at a function should give Najib something to think about, maybe even a few sleepless nights.

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Final call: Save the hills of Penang forum, 12 December 2015

Anil Netto
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Final call: Save the hills of Penang forum, 12 December 2015

To register for this forum, you may fill up the registration form here.

If you have any photos revealing the degradation of hills in Penang to be made public, please submit them here.

Poll: The Penang ferry service is so poor; what should be done?

Anil Netto
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I hear morale among some Penang Port Sdn Bhd staff is at an all-time low as they face the prospect of further cuts in service on 1 January 2016. Commuters, especially those working odd hours and without private vehicles, are going to be left stranded. Those from the island intending to catch the 7.00am electric train from Butterworth to KL can forget about it as the first ferry from the island will only start at 6.30am and what about those who rely on the ferry to get to work in the morning. What is Penang Port Sdn Bhd thinking? Only of their profits?

Will the ministry of transport look into the privatisation agreement and see if there is any clause that allows for the privatisation agreement to be terminated or stiff penalties imposed for failure to provide essential services. Hope he won’t sing about having to pay compensation! Make this agreement public. The minister of transport himself should be held responsible for this scandalous state of affairs, and he should resign if he is unable to resolve this.

What they didn’t teach me at accountancy school…

Anil Netto
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Tonight, I need to meditate on this statement.

“But do not be confused. The account is in my name, but it is not like a personal account.”

Now, I’m thorougly confused!

 

 

Penang transport masterplan: A closer look at SRS Consortium

Anil Netto
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Let’s take a closer look at SRS Consortium:

This is a joint venture that was appointed as project delivery partner (PDP) for the massive Penang Land Reclamation and Property Development err, Transport Masterplan on 14 August 2015.

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Forum in Penang tonight: TPPA revealed – what the text says

Anil Netto
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Forum in Penang tonight: TPPA revealed – what the text says

If you are in Penang and want to know more about the impact of the Trans-Pacific Partnership Agreement – and it IS going to have an impact on all of us – this is where you want to be tonight.

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Penang land reclamation: That ‘RM1bn compensation’ figure

Anil Netto
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This is a third statement by Penang Forum on the land reclamation controversy:

According to a recent headline news item, the Penang chief minister claims that if the motion is carried through, the state government may have to pay compensation of RM1bn and could be bankrupted.

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