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10 APRIL 2024

Wednesday, May 20, 2015

We the People have no future with leaders who are dishonest.



The entire cabinet must be full of dishonest leaders. PM and ministers lie/ misled or simply did not tell the truth. They do this   with impunity in parliament. They gave false answers.

On the 10th of March 2015, I received a written reply from the Finance Minister. I had asked (1) where was the USD 2.318 billion said to be fully redeemed by Arul Kanda and (2) where is the USD 1.215 billion forming part of the USD2.318 kept.

He answered more than asked and was not truthful in his answers. 

The finance minister answered: the USD2.318 billion managed by the Cayman Monetary Authority (if there was one) was fully redeemed in 2 tranches.

The first tranche of USD 1.215 billion was used to repay interests on debts, working capital and payment to Aabar following the termination of Options agreement signed on 17th October 2012. The decision to terminate the options agreements was done in full compliance with the terms set by the securities Commissions if the IPOs by 1MDB were to be carried out.

He then went on:

The redemption of the second tranche amounted to USD 1.03 billion. The fund is still kept in USD in BSI Bank Limited (BSI Singapore). The decision to use a bank in Singapore is for the purpose of easy withdrawals of themoney given the terms set by BNM, require BNM’s approval for every transaction of more than RM50 million.

This was the answer given by the PM in writing.

These answers have now been proven not true. The PM himself admitted it. Now, tell me unless my reading is faulty, funds kept in USD are cash. They cannot be assets. The PM cannot now say it was in the form of assets when the tranche was said to be is USD. It says clearly kept in USD. And ....withdrawals of money- meant it was cash.

This means the PM who is in the finance minister did not tell the truth in parliament. You people out there, you have no chance at all against a PM who misled and is not truthful in parliament.

What’s not telling the truth to the ordinary folks mean to him? That would be too simple. The people will think of him a liar.

The transport minister is also not telling the truth. I asked what actions did the MOT take against the contractor who caused a cost overrun by more than RM2 billion on building KLIA2.

The minister said, there is no cost overrun. Whereas my colleague from PJ Utara, Mr Tony Pua clearly showed that the original cost of KLIA2 was RM1.7 billion. It has now ended as RM4 billion, causing an overrun in cost by RM2.3 billion.

The people of Malaysia has no future with a cabinet made of dishonest people and with people  who ply their trade with a poker face.

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