The proverbial "rock and a hard place" just cannot begin to paint the picture 1MDB is in. I believe there is almost nothing 1MDB can do to salvage their way out of their predicament.
Any attempt to realise the financial worth of its investment, including selling off part of their assets, is virtually impossible, not because of "say" the value of sale assets in question, but the underlying history of the assets arriving to 1MDB itself cannot be but like pouring molten lead into the public's ears on reminder.
The executives of 1MDB have no likely avenues except devolution of assets of getting new capital. The way things are going, a financial management solution is not on the cards.
Unlike the multi billion dollar forex losses which Bank Negara was hit with in the 1990s when one Dr Mahathir sanctioned a foray of forex speculation, wherein the central bank took the loss position as unrealised until the markets recovered, the 1MDB position is far too much in the public conversation, to take off-the-books, so to speak.
If it's not a financial management resolution needed, then this can only be a political gambit at the end.
Mind you, who ever inherits 1MDB without its legacy, i.e., after "political" clean-up, is sitting on a gold mine that must be shouted out at the top of our voices.
History being the persistent teacher, when the dust settles after the 1MDB storm, the thought of the low hanging fruits just makes the mouth salivate for those in power at that point.
The Malaysian public, as usual, will be left with the bitter after-taste.
* Zakay A. Rehman reads The Malaysian Insider.
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