Lies, lies and more lies on 1MDB

YOURSAY ‘Layer by layer, the half-truths given by authorities are being laid bare.’

Gov't: Ananda Krishnan in RM2bil 1MDB refinancing

Spirit of Malaya: Let me get this straight - we had two large local banks breathing down the neck of 1Malaysia Development Berhad (1MDB) for payments which were originally due in November last year.

Then, at the last minute a ‘hero’ came along and rescued 1MDB via a RM2 billion loan, which was arranged by a friendly third-party that had no vested interest at all.

Ask any decent banker if such a transaction is deemed as "suspicious transaction" or not and I can bet that the answer is a resounding ‘yes’.

For those Malaysian banks that pride themselves to following a strict "credit evaluation" process when assessing credit risk, I have this to say to you - bulls**t! These banks only talk big when dealing with small businessmen.

Anonymous_4196: We are not getting any straight answer from the Finance Ministry and finance minister. Answers keep shifting in this 1MDB episode thus far.

So, how do PM Najib Razak expect the rakyat trust him that the goods and services tax (GST) is good for the country and the rakyat?

We have not seen any benefits so far. Oh please, don't bring up the Bantuan Rakyat 1Malaysia (BR1M), the percentage of citizens eligible for it is very small compare to financial loss and mismanagement of the government-link companies (GLCs).

Donplaypuks: What’s going on? First it's not tycoon Ananda Krishnan who helped out 1MBD, and that the money to pay the loan came from the company’s accounts in the Caymans, then it's not, and now it is.

AK owns Tanjong, so whether it came out of his own pockets or through one of his companies, it's the same ‘effing’ thing.

Kit P: Layer by layer, the lies and half-truths given by the authorities are being laid bare. I'm pretty sure the latest statement from the Finance Ministry is still a half-truth.

Only a truly independent investigation by people who have no vested interest in the outcome and no interference from the administration can uncover the truth.

An investigation by the Royal Malaysia (PDRM) and Malaysian Anti-Corruption Commission (MACC) do no inspire any confidence at all.

Pputeh: "Regarding the loan which 1MDB allegedly received from millionaire Ananda Krishnan, the report is not true," the Finance Ministry had said in a parliamentary reply on March 14.

If they had borrowed the money, and said 'yes', it would have been the end of the story. Either borrowed from Ananda or private investors, it’s still the same.

Odin: If my memory serves me right, Arul Kanda Kandasamy has apparently denied that Ananda lent the RM2 billion needed by 1MDB to pay the previously twice-postponed interest (only the interest, mind) on its loan.

Didn't he say there was no announcement from Ananda and, therefore, the latter did not, by implication, lend out the money?

Commentable: Yes, people will know things are not going well in 1MDB when we detect the following:

1) The government flip-flops in something so basic, such as failing to give out a straight answer in response to a straight question, like the one made by Second Finance Minister Husni Hanadzlah.

2) 1MDB is quiet as a church mouse.

3) All the usual 1MDB-friendly cybertroopers come out of the woodwork in their futile attempt to stonewall the Malaysiakini’scomment section of this article.

Mushiro: Ananda sold Powertek Energy, an independent power producer (IPP), to 1MDB at a terribly inflated price.

1MDB paid the full amount of RM8.5 billion to Ananda. Now Ananda is "helping" 1MDB to secure a RM2 billion loan to pay up the banks which loaned the money to 1MDB for the Powertek purchase.

Why didn't Ananda loan the RM8.5 billion they got for Powertek to 1MDB? Indeed, 1MDB is just digging deeper into its own grave.

Dont Just Talk: Husni Hanadzlah, how did you become a finance minister with your  pea-size brain by making the most stupid statement that 1MDB opted to park its RM4 billion amount repatriated from Cayman Islands in Singapore because it intends to use the money to service loans in US dollars.

Did you mean that Maybank, CIMB, Public Bank, HSBC and Citibank in Malaysia are unable to handle such transactions?

And now that the Umno Baru government has finally admitted that it needed Ananda's company to help secure the RM2 billion to settle the 1MDB debts, why was the denial over it in the last few months?

With the abuses, leakages and corruption carried out by politicians and cronyism involving family members, I wonder how much more Malaysia can take.

By the way, can the Finance Minister II confirmed the allegation that SRC, a subsidiary of 1MDB, took a loan of RM3.8 billionfrom Employees Provident Fund (EPF) to invest in a coal mine in Ulan Bator, Mongolia, which by now, should turn into charcoal?

SL: We teach our children not to lie but just look at our politicians - never stop telling one lie after another. Well, you always need to tell another lie to cover up the previous lie. -Mkini