1MDB’s ‘tell all’ raises more queries, say critics Ferdtan: The list provided by 1MBD on its RM42 billion debt has not been fully explained.

As stated by Petaling Jaya Utara MP Tony Pua and Pandan MP Rafizi Ramli, the most suspicious item was the financial cost and working capital of RM4.5 billion.

Since no breakdown was provided, Rafizi alluded the financial cost could include consultancy, arranger fees and interest.

There could possibly be ‘double counting’ as some of such operating expenses which were incurred for the purchase of the power plants, lands, and investments had been capitalised into the projects, which is allowed in accounting practice.

If not, why not? It is also not a tax advantage to include such huge expenses as operating cost as there was no sufficient revenue to offset for tax deductions.

Rafizi, please check what other incidental costs that had been conveniently capitalised into purchase of fixed assets like power plants purchase, lands and investments.

They may possibly have ‘suspicious expenses’ capitalised to hide under the huge sum. (My guess it is impossible to do so, but that is the external auditors’ job).

Swipenter: The huge financing cost of RM4.5 billion is like the equivalent of the RM500 million payable to Perimekar as consultation and service fees in the purchase of the two Scorpene submarines. Similar tactics are being used in both cases.

On the surface, everything looks above board, at arm’s length and legit, unless and until you are allowed to scrutinise the details which would be next to impossible.

Now you see the beauty of the Official Secrets Act (OSA) for those who are misusing it to plunder the country’s finances and make the rakyat pay for them for next 20 to 30 years for such business/privatisation deals, especially of public utilities.

Dr Mahathir Mohamad was very good at it but PM Najib Razak is even better at it. The student has become better than his “sifu” (master).

Rupert16: Very, very dubious – why borrow so much money and at a much higher interest rate (compared to market rates) plus associated fees with a government guarantee as well, then invest in funds in questionable companies which do not generate any cash flow, and with probably low or zero ROI (return of investment)?

Besides paying way above market price for these old and inefficient power plants, is 1MDB president and group executive director Arul Kanda saying that 1MDB is also inheriting the plants’ debts? It sounds like there is a lot of monkey business in the deals.

Anonymous_4056: 1MDB is in a very healthy state. I hope Mahathir and the opposition, particularly parliamentarians Tony Pua and Rafizi Ramli, can shut up now.

Najib is impeccable in his character. Do not forget his father was well-known for his integrity. At this rate, we will achieve Vision 2020 in 2017. Please put your full trust and faith in Najib.

Firestone: The more BN cybertroopers try to praise the prime minister, the more the people despise him. I wonder if he knows that…

If there is nothing to hide or nothing to fear, why even resort to employing so many cybertroopers to back the prime minister?

RM15.4 billion is with Brazen Sky, Aabar and GIL Funds. Where’s the money? Are they in ‘units’?

Bamboo: Thank you, Rafizi and Pua for making the 1MDB accounting easy for us layman to understand.

With your explanation, we understand more of the shenanigans of whereabouts of the money. I hope your relentless pursuit will lead to those responsible been made accountable.

Gen2indian: Rafizi and Pua should give a Finance 101 short course to those highly-paid officials in Putrajaya who are apparently “managing” the country’s finances.

Most of them probably won’t understand 10 percent of what these two have said and would only qualify to carry their briefcases, let alone manage the country.

CQ Muar: 1MDB’s Arul Kanda thought he could get away by coming up with this tabulated mumbo-jumbos.

Little did he imagine anyone would doubt his “presentation”, which is indeed an insult to the brilliance of two main critics of 1MDB fiasco.

Hello, Arul, surely you could do better than that. If it isn’t for Rafizi and Pua, both Arul and the PM would probably might have got away with it. Not this time, buddy.

LifeFlier: Message received. Bottom line of the story is the same – public money is lost and no one is held accountable for that.

The rakyat are fed up of throwing questions at you, 1MDB and PM. Instead we will give you our solid answer comes GE14.

Anonymous #43385867: There is nothing complex about 1MDB. The simple question is if there is money, why borrow just to pay interest of its loans?

The figures provided by 1MDB show there is a surplus cash of RM900 million. Why then the need money injection from tycoon Ananda Krishnan, Finance Ministry and IPIC/Aabar?

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