[#NAJIB IS CRACKING UP! ... TUN M IS RIGHT!] ... The Prime Minister confirmed 1MDB is in trouble
…and he did not even have to wait for the AG report to tell him that.
Finance Ministry Moves To Reduce 1MDB’s Debts
PUTRAJAYA, May 19 (Bernama) — Prime Minister Datuk Seri Najib Tun Razak said the
FINANCE Ministry would take the appropriate measure to reduce 1Malaysia
Development Bhd (1MDB)’s debt.
Najib who is alsoFINANCE Minister said issues surrounding 1MDB would be answered
when the Auditor-General presents the audit report to the Public Accounts Committee (PAC)
“I hope everyone will wait for the report,” he said at theFINANCE ministry’s monthly
assembly here Tuesday.
On March 4, Najib directed the auditor general to verify 1MDB’s accounts.
“We believe with this measure, we can reduce 1MDB’s debts. I’m confident of the
FINANCE ministry’s ability to execute it amidst all the criticisms.
“We will prove with this move, we can achieve the objective. From time to time, we will take
the necessary measures,” he said.
The problem with 1MDB is its debt and the dodgy ways they have concocted to get it. Now, due
to its high debt, the public had to pay more than RM2 billion per year on interests alone!
Is there no heads to roll because of this overly careless and ridiculously ill-advised venture
perpetrated by the Ministry ofFINANCE and 1MDB Board of Directors?
After months of telling the public that theFINANCES of 1MDB is strong and secure by
saying nonsensical stuff like the assets is more than the liabilities, 1MDB will not miss any
payment schedule so on and so forth, the government finally today admits that yes, we have
The mess 1MDB created had caused the Prime Minister to have finally identified what the
Finance Minister and 1MDB advisors had done wrong, and now wanted the Finance Ministry
to find solutions to this problem.
Obviously he was talking to the mirror when he made that announcement.
This blog have always believed that the Prime Minister must, at the very least resign from his
Finance Minister post in order to regain credibility. The easiest way is to not appoint himself
to that particular post in the upcoming, long overdue cabinet reshuffle.
What better way to re-strategise and regenerate a flaccid performance? As it is, there is
enough deadwood in his cabinet which could build a sampan.