22
Sep
14

1MDB’s RM30bil debt a threat to us

Rafizi: 1MDB’s RM30bil debt a threat to us

The more than RM30 billion debt said to have been incurred by 1Malaysia Development Bhd (1MDB) will pose a threat to Malaysia’s economic stability and the well-being of the people, says PKR’s MP for Pandan Rafizi Ramli.

Rafizi, a PKR vice-president, said he seldom agrees with former prime minister Dr Mahathir Mohamad, but this time he agrees with Mahathir’s concern and criticism on this point on the debts of 1MDB.

“I support the stand and views taken by Mahathir on 1MDB. I am of the view that 1MDB’s finances and management, which are not transparent, may pose a threat to the economic stability and well-being of the people,” Rafizi said in a statement.

In his blog Chedet posting yesterday, Mahathir expressed concern that Malaysia would not be able to repay the debts accumulated by 1MDB.

Rafizi said reports obtained from financial documents have placed 1MDB’s debt at more than RM30 billion and this was based on a series of bonds issued to collect funds, that were done several years ago.

In past Parliament sessions, he said, Pakatan Rakyat lawmakers have posed several questions on the RM30 billion debt, which is guaranteed by the government.

“Every time this question was posed, Prime Minister Najib Abdul Razak, who is also finance minister, has consistently said it was just RM5 billion from the issuance of the first 1MDB bonds. He gave his official answer in Parliament that other debts are not guaranteed by the Malaysian government.

“I have documents to verify that what Najib answered is incorrect as this gives the wrong impression to Parliament. My investigation shows the whole debt by 1MDB amounts to RM30 billion and that it is borne wholly by the government,” Rafizi said.

This, he added, meant that if 1MDB failed to repay the debt, the government would be responsible for the repayment, and that this would certainly entail the use of public funds.

“Hence, my stand is that 1MDB’s big debt could pose a threat to the economy as there is no indication of its performance showed by the company. I believe Mahathir has the same information, and he could not hide his concern,” Rafizi (right) said.

…more
Sep 11, 2014 – Malaysiakini
Rafizi: 1MDB’s RM30bil debt a threat to us

Advertisements

0 Responses to “1MDB’s RM30bil debt a threat to us”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


THE Al Jazeera interview

Merdeka! Merdeka! Merdeka!

The dawn of A Better Malaysia!
Rafidah Aziz, Hannah Yeoh, Ambiga at TTDI ceramah

 

Mahathir in Putrajaya ceramah

 

What happened to 1MDB’s money? – CNBC Video
Nuclear lessons for Malaysia (Part 1) (Part 2)
BN govt is directing attention to distant past and distant future, in order to distract people from present misdeeds and poor governance
Felda - A picture is worth a thousand words
How the 1MDB Scandal Spread Across the World (WSJ)
We cannot afford ridiculously expensive RM55 Billion ECRL!
All that is necessary
for the triumph of evil
is for good men
to do nothing.

- Edmund Burke
When the people
fears their government,
there is TYRANNY;
when the government
fears the people,
there is LIBERTY.

- Thomas Jefferson
Do you hear the people sing?

Archives

Advertisements

%d bloggers like this: