TTF: On the 26th of June 2018, 1MDB announced Dato’ Asri Hamidon’s appointment as the company’s new chairman effective the 25th of June 2018 (see news item below). At first glance, that seemed normal, as it would only be logical for Dr Mahathir Mohamad to put his own men in charge if indeed the mission is to scrutinise the company’s accounts. But the company went on to announce the appointment of key executive members, almost as if the government is on a secret mission of sorts to help ‘salvage’ some of its assets.
And that struck me as weird.
The reason being, why would the Prime Minister be interested in salvaging a company he insists is a cancer that can’t be cured? Perhaps the answer lies in what he and his buddies have not been telling you all this while. Perhaps, just perhaps, he knows what I and Arul Kanda already know, that the company’s finances are in such good shape, it was never a cause for concern. Perhaps, the company is doing so good, the Prime Minister finds it foolish that anyone would even dream of ignoring its net worth.
And what would that worth be, you ask?
On the 21st of April 2018, Kanda told CNBC that the company’s debt stood at US$7.75 billion ( RM31.28 billion at today’s exchange rates) backed by US$11 billion (a little over RM44 billion) in assets . According to him, the company’s rationalisation plan in 2015 helped boost its standing among international investors, meaning, 1MDB was never the reason investors bolted. The only reason these investors left is the falsified debt estimates Mahathir got Lim Guan Eng to roll out on a regular basis with the express purpose of plunging the economy.
And why plunge the economy?
Well, the more share prices drop, the easier it would be for his cronies to snap up stocks left behind by frightened investors. Sooner or later, all projects Pakatan promised to scrap – including the ECRL and HSR – will be revived, with people like Tan Sri Vincent Tan and perhaps even some of the Prime Minister’s son’s cronies strapped firmly in the drivers’ seats. And where will Mahathir and gang get the money to artificially buoy the economy once all of this is done?
Why, from 1MDB, of course.
Given the current exchange rates, the company’s assets are worth well over RM44 billion, meaning, the company can easily make up for the RM11 or so billion deficit suffered in a span of mere weeks since Pakatan Harapan took over. What this means, is that the very entity the Prime Minister insisted was the reason the country was “going to the dogs” is the very entity that is now going to help him ‘revive’ the economy. And who does he have to thank for that?
Why, he has to thank Dato’ Seri Najib Tun Razak for creating 1MDB, of course!
KUALA LUMPUR: Lembaga Pengarah 1Malaysia Development Bhd (1MDB) mengumumkan Datuk Asri Hamidon dilantik sebagai pengerusi baharu syarikat berkuat kuasa 25 Jun, 2018.
Asri kini juga merupakan Timbalan Ketua Setiausaha Perbendaharaan yang bertanggungjawab terhadap pelaburan kerajaan.
Selain itu, 1MDB turut membentuk Jawatankuasa Eksekutif (Exco) baharu dengan anggotanya terdiri daripada Datuk Mohammad Faiz Azmi, Datin Rashidah Mohd Sies dan Datuk Wan Mohd Fadzmi Wan Othman, menurut Kementerian Kewangan dalam kenyataan di sini, hari ini.
Kementerian itu berkata, jawatankuasa tersebut diberi amanah oleh lembaga pengarah untuk menguruskan operasi harian syarikat
Source: Astro Awani