Hey Umno, 1MDB problem can never be over

 No News Is Bad News

 

For image info, go to https://en.wikipedia.org/wiki/1Malaysia_Development_Berhad_scandal 

Hey Umno, 1MDB problem can never be over

https://www.youtube.com/watch?v=4hyQRv16j5U (The legacy of Malaysia’s 1MDB scandal on politics and corruption-fighting)

KUALA LUMPUR, Nov 7, 2023: Deputy Finance Minister Ahmad Maslan says the “1MDB problem” is coming to an end, as the Government is almost done settling the investment company’s debts.

You are so very wrong Ahmad! The 1Malaysia Development Berhad (1MDB) problem can never be over or allowed to be forgotten.

Ahamd, you sound so proud, 1MDB problem over? Who is paying the debt? Malaysian taxpayers!

That is the problem with Umno politicians and leaders. They manage the country’s finances like managing their own pockets.

No responsibility and no accountability.

And, they still have the audacity to want the man responsible for the 1MDB financial fiasco, the disgraced former prime minister Najib Razak, to be freed from prison!

No wonder Umno is in political dire straits, losing support from Malays and Malaysians.

With politicians like Ahmad, Umno’s political fortune will continue to “languish in prison” like the shameless jailbird, Najib.

Currently, Umno is still only politically relevant for the survival of multi-racial-religious Malaysia so that Anwar Ibrahim’s Madani Unity Government can govern.

When another viable political entity emerges to replace Umno, law abiding and peace-loving will continue to reject the Taliban-like PAS and Perikatan Nasional (PN) led by the tacist Muhyiddin “I Am Malay First” Yassin.

No News Is Bad News reproduces below a news report on the garbage spewed by Ahmad in Parliament yersterday:

1MDB problem almost over, says Ahmad Maslan

The deputy finance minister says the remaining debt of RM5.15 billion would be settled next year.

FMT Reporters - 07 Nov 2023, 12:00am

Ahmad Maslan told the Dewan Rakyat the government was also taking action to have a suit by Goldman Sachs dismissed. (Bernama pic)

KUALA LUMPUR: Deputy finance minister Ahmad Maslan believes that the “1MDB problem” is coming to an end, as the government is almost done settling the investment company’s debts.

He said the outstanding debt stood at RM5.15 billion at the end of September.

A payment of US$1 billion (RM4.65 billion) is expected next year from the International Petroleum Investment Company of Abu Dhabi, while the overall balance of the trust account amounted to RM9.85 billion.

The sum is enough to settle the remaining debt, he said. “I think the 1MDB problem is almost over,” he told the Dewan Rakyat in winding-up the committee-stage debate on the 2024 budget.

He said the government will only need to make an interest payment of RM287 million next year.

Fighting off Goldman Sachs

Ahmad said the government was taking measures to counter the demands by investment bank Goldman Sachs which commenced arbitration proceedings against the government in London last month.

The company sued the government following a disagreement over the settlement terms, which require Goldman Sachs to make an interim payment of US$250 million if Malaysia fails to recover at least US$500 million from the company by August 2022.

Goldman Sachs claims that the US$500 million threshold has been met.

“So we are taking action to have the suit by Goldman Sachs dismissed.”