THE NEXT GOVERNMENT.

BARISAN RAKYAT SHALL FORM THE NEXT GOVERNMENT!

SOS

SOS
nation in distress

The World Anthem


WE ARE ALL OF 1 RACE, THE HUMAN RACE.


03/11/2017

NAJIB'S RM250 BILLION SLUSH FUND/FRAUD BUDGETS EXPOSED!

by E.S Shankar, Donplaypuks® intrepid correspondent for jibbo slush fund budgets affairs

Serial liar and 1MDB/SRC RM46 billion defrauder Finance Minister/ PM Najib's 2018 budget announced Friday 27th October 2017, can be summarised as follows:
















As explained by DAP MP Liew Chin Tong, the devil is in the details. More than that, Najib, has created a huge slush fund to be fraudulently used to buy his way to success at GE14.

There is no news from Najib on how the revenue shortfall of RM42 billion will be bridged. More tax? More borrowings? Selling off Rosmah's diamond and Birkin bags collection?



2018 GE14 SLUSH FUND 

But, for purposes of this blog post, let us focus on Najib's Prime Minister's Office (PMO) budget of RM17.4 billion, an increase of 14% over 2017. PMO's "development" expenses alone makes up 25% of the total development budget of RM48 billion! 



Huge expenses of at least RM6 billion have been budgetted without any clear explanation as to what they are to be used for:

1. Dana Fasilitisasi - RM3 billion
2. LIMA corridor - RM895 million
3. MESRA projects - RM804 million
4. Special projects - RM726 million
5. Development program - RM363 million
6. Social Program - RM300 million

You can bet your bottom dollar that all these Slush Fund provisions will find their way into the pockets of the cowardly UMNO/BN "Warlords", and not into any projects of benefit to the citizens!

During Mahathir and Badawi's time, the PMO budget would have been, tops, RM2 billion. But over the last 4 years Najib's PMO budget has averaged an incredible RM16 billion a year!!!



This includes a whole load of slush funds, duplicated and totally wasteful expenses which could have been saved to delay introduction of GST and provide better education, heath and welfare programs, e.g.:

1. JAIS/JAWI ETC - RM1 billion. Why is there Federal spending when Islam comes under the Sultans and states?
2. Dubious Public-Private partnerships - RM1.5 billion (remember the RM30 billion PPFI Mof/Najib scam involving EPF?)
3. Felda expenses - RM164 million (Why should government be subsidising Felda which is a public company?)
4. Gaji buta agencies like Teraju, SPAD, Talentless Corp etc. cost us RM1.2 billion when we have the EPU, Ministry of Transport, Ministry of Entrepreneurship etc.
5. We have the Joint Chiefs of Staff, Army, Navy, Airforce and Special Branch. Yet Najib created ESSCOM and other "security" agencies which swallow RM1.2 billion a year. No one will dispute that despite all this, terrorist activity is actually on the rise, with many Muslims here donating generously to ISIS!!!
6. Once again, we have Najib's wife Rosmah's Permata/ECCE programs eating up RM103 million for dubious Quran learning-by-heart Tafiz and Einstein producing programs.

REAL INCOME DROPS UNDER NAJIB!

The result of 9 years of Najib's looting? The real income of Malaysians has dropped significantly:


This proves that all the billions and billions of ringgit spent by Roti Jala in Najib's so-called transformational economics programs, to make us a "high income" nation, have failed miserably. It's been an utter waste of the Taxpayers money. More so because Najib has brought us to the edge of bankruptcy with a record national debt which has more than doubled under his disastrous leadership, to RM700 billion!!! The nasi lemak selling mak ciks can manage our economy better without burdening us with massive debt. 

Najib has no idea how to this debt will be repaid. In his 2018 budget, he has only provided RM30 billion for servicing debt interest, but not the principal borrowings. Like all crooked PM's across the world, Najib is quite happy to pass the RM700 billion debt to our children and grandchildren!

Let us say that the 2018 sub-total of RM11 billion makes up the scam, fraud, looting by Najib. Multiplying that by 9 years under Najib gives us RM99 billion. And that is only under PMO. What about all the other Ministries and statutory bodies? Add the scams at 1MDB, MARA, Felda, Tabung Haji. A figure of RM250 billion would not be surprising!

Why have so many Malaysians, especially the Malays, tolerated this crook Najib and his government of thugs and thieves for so long? Have they all gone mad?

21/10/2017

CORRUPT BILLIONAIRES SABAH CHIEF MINISTER MUSA AMAN AND EX-SARAWAK CHIEF MINISTER TAIB!

by E.S Shankar, Donplaypuks® intrepid correspondent for humbug hummer affairs

MUSA AMAN

On 14 August 2008, Sabah "businessman" Michael Chia Tien Foh was arrested at Hong Kong International Airport by the HK Independent Commission Against Corruption (ICAC). He was caught red-handed trying to smuggle about RM40 million in  equivalent Singapore Dollars, out of HK.

Michael Chia had claimed that the money was for Sabah Chief Minister, Musa Aman.


Soon, Musa Aman released a carefully worded statement that he had "no business association whatsoever with an individual name Michael Chia". But then, no one had asked that question. Is it necessary for runners or bagmen to have a business association with you, for you to receive money from them? In any event, corruption is not a "business", is it? Musa was soon proven to have lied!

When later the HK ICAC officers went to Sabah to investigate over RM360 million (US$90 million) that had flowed through an elaborate system of off-shore bank accounts from Switzerland, Hong Kong and Singapore to a Musa Aman nominee's account, they got nowhere.

Then three years later, AG Gani Patail, who is related to Musa, and our own MACC claimed there was no corruption case for Musa Aman to answer, and dropped (NFA) it. CLICK HERE.

Why?

Because PM Najib and also de-facto Law Minister Nazri claimed that the money was not for Musa Aman's personal use, or Sabah Foundation (Yayasan Sabah), but donations for UMNO Sabah!

This is despite the truth that none of this money ever found its way to Sabah Foundation or UMNO Sabah's bank accounts! In fact, Sarawak Report had unearthed and published irrefutable documents that the money had been drawn upon by Musa Aman and his children! 

Despite MACC confiscating tons of documents that at least US90 million constituted kickbacks given to Musa Aman by some of Sabah's leading timber tycoons, they dropped the case, claiming no corruption was involved. The dirty corruption and money-laundering had also been exposed by Sarawak Report. CLICK HERE and HERE.

Neither Najib nor Nazri ever revealed who these generous "donors" were, who found it necessary to "donate" money by a twisted international money-laundering set-up.



But that's not the end of the story. Not quite. When Nazri was accused of corruption because "businessman" Michael Chia had made available a RM500,000 Hummer 2 SUV for his son Nedim's use, his reply was, "That is between my son and Chia. What has that got to do with me?" CLICK HERE and HERE.

Do you wonder how serial liar and 1MDB RM46 billion defrauder, looter and plunderer Najib ever came up with that whopper that the RM2.6 billion that ended up in his personal bank account, was from a "Arab Royal donor"????

SARAWAK CM TAIB



How could Taib be worth RM60 billion (US$15 billion)? CLICK HERE.

Again kickbacks from timber tycoons have contributed substantially. Much of this corruption scandal has been exposed by the Swiss Bruno Manser Fonds (BMF) and a blockbuster book 'Money Logging: on The Trail of the Asian Timber Mafia' by its Executive Director, Lukas Straumann. CLICK HERE and HERE.

In September 2017, BMF filed a case against three Canadian banks for information regarding US$200 million loans they made to Canada's Sakto Corporation, which just happens to be owned by Taib's daughter, Jamilah Taib Murray! CLICK HERE.

Chief Ministers like Musa Aman and Taib, (and their wives and young children), could not remotely have accumulated such fabulous wealth except through massive corruption, which in turn must implicate Najib and UMNO/BN, neck-deep! 

I can see you shaking your heads.

Does it make your blood boil that you are struggling to make ends meet, while others rob, defraud, con, pillage and plunder to corruptly accumulate billions of ringgit at YOUR expense?

Struggling to save money for your children's university education, to buy your only house or contribute to your old-age pension fund? Struggling just to have a decent life with no frills, no overseas holidays or luxuries?

Then do something about it! 

Make sure you do not vote for politicians like Musa or Taib or any from UMNO/BN at the next General Election. Vote the crooks, thieves, looters, plunderers and murderers, OUT, OUT, OUT!!!

That is the duty of every true patriot who wants what is fair for everyone, and for the national wealth to be shared equitably among all the Rakyat!

01/09/2017

NAJIB'S $55 BILLION ECRL FRAUD WILL EXCEED $100 BILLION & BANKRUPT MALAYSIA (IF WE LET HIM)!

by E.S. Shankar, Donplaypuks® intrepid correspondent for off-the-rail najiboponzinomics and government fraud affairs. NB $ means Malaysian Ringgit.



(Click on pic for enlarged view).

Malaysia Rail Link Sdn. Bhd. (MRL), wholly owned by Ministry of Finance (MoF) Malaysia, and China Communications Construction Company Ltd. (CCCC), wholly owned by the government of China, signed the $55 billion East Coast Rail Link (ECRL) contract back on 2nd November 2016.



THE PROJECT

The salient details of the 688 km DIRECTLY NEGOTIATED NO OPEN TENDER contract are:

1. Phase 1 - 600.3 km connecting Gombak in KL with Wakaf Baru in Kelantan.
2. Phase 2 - 87.7km connecting Gombak in KL with Port Kelang in Selangor.
3. Phase 1 & 2 cost - $55 billion.
4. Costs include $9 billion provision for rolling stock i.e. locomotives, carriages, wagons and other railroad vehicles. Rolling stock is to be purchased by CCCC. (Why on earth would a works contractor be asked to buy the rolling stock when it would be much, much more economical for MRL to buy direct from suppliers through open tender, unless of course, Najib plans to steal more money by inflating the true cost?).
5. Expected completion date - 2024.
6. Single electrified railway track built on double-tracking formation.
7. MRL will be the owner and operator of ECRL.
8. CCCC will be the main contractor responsible for engineering, procurement and construction management.
9. EXIM Bank of China will be providing MRL with a 20-year 3.25% p.a. $55 billion "soft-loan" package to finance the project.
10. MRL will NOT have pay the principal or interest for the first seven year of ECRL's operation,s i.e. between 2025-2031.
11. MRL will repay the loan in full over the next thirteen years, i.e. between 2032-2044.
12. Projections prepared by Najib's con men show that crucial to the profitability and cash flow of ECRL, is that freight loads will increase to 53 million metric tons by 2030. This is a wee bit optimistic, given that the entire rail freight business under Malayan Railways (KTMB) currently adds up to 6 million metric tons a year!
13. MRL has not disclosed if CCCC has been contractually bound to guarantee freight loads, given that it will be its main customer.
14. The ECRL contract cost works out at an astronomical $80 million per km. However one looks at it, this will turn about to be the most expensive railway line in the world!

NAJIB/UMNO/BN DELIBERATE MISINFORMATION

As there has been deliberate misinformation by Najib and his government of thieves, plunderers and looters about this largest government contract ever, it is necessary to remind all Malaysian that:

1. This is NOT a Foreign Direct Investment (FDI) project with money coming from China as an investment! CCCC will not be investing one cent in anything here.
2. CCCC will be engaged purely as contractors and the Malaysian Taxpayers will have their blood sucked out out of them.
3. The $55 billion will eventually leave Malaysian shores, of which at least $29 billion will be fraudulently used by that serial liar and defrauder Najib, to bail out 1MDB, as detailed in my earlier blog post. CLICK HERE.
4. By comparison, countries like Thailand are getting double tracking trains on double-tracking formation, with twice the speed for rail freight transportation, for costs that are not too far off from ECRL!!!

Of course, Najib's PR blitz comes with all the usual bells and whistles:
1. GAME CHANGER! How? With a train stopping at over 20 stations at a top speed of 160km/hr and half that for freight coaches?
2. Zillions of jobs (CCCC will be engaging mainly their own sub-contractors for sure).
3. Opening up of the Ease Coast. With this kind of inflated costing, how will our poorer cousins afford the fares?
4. Guaranteed local participation (though when push comes to shove, CCCC will derail Najib's Bumiputra dreams quicker than you can say char sui sui yoke!).
5. Alternative logistic route to Singapore (one wonders if there will really be any material cost savings in offloading and loading goods in Klang, the train time and downloading/loading in Kuantan).
6. Najib sycophant Minister Rahman Dahlan was quoted as saying "In a green-field rail project of this nature, other costs such as engineering studies for design speed, topography, geological conditions will be required." (This is not been the normal world-wide for the last 40 years?)

One could not put it better than an excellent expose by ex-diplomat Ignatius Xavier. CLICK HERE.

TRUE LOAN & INTEREST COST

There is no free lunch. Interest, though not payable for 7 years, will be compounded and accrued for 2025-2031@ 3.25% p.a. 

This means the $55 billion loan will balloon by another $13.8 billion to 68.8 billion by end 2031.

ECRL total cost will then be about $85 billion (rounded off to nearest billion), as follows: 

1. Cost at 1.1.2025 - $55 billion.
2. Interest 1.1.2025-31.12.2031 on $55 billion compounded @ 3.25% p.a. - $14 billion.
3. Interest 1.1.2031-31.12.2044 on reducing loan repayment basis @ 3.25% p.a. - $16 billion.

Loan Principal and Interest to be serviced will amount to about $18 million and $6 million respectively PER DAY, for 13 years (156 months)!!!

If we add on 30% for land acquisition, price increase (inflation), Variation Orders (VO) and contingencies, we are easily looking at a cost in excess of $100 billion!!!???

Of course, once ECRL starts operations in 2025, presumably the revenue stream will start flowing in to service interest and capital loan repayments. 

But, it's safe to assume that for at least the first ten years, profits will be insufficient to service RM85 billion, given KTMB's experience, where in some years it made a gross loss!

MORE DEBTS > $300 BILLION

So, in 2031 or so, MoF will have to start issuing bonds to pay EXIM Bank. Besides this $100 billion, there are other debts that can only be extinguished by MoF issuing more bonds now. These include:

1. 1MDB debt - $80 billion.
2. PFFI - $ 30 billion
3. LRT/MRT -$120 billion (?).

This is a route to bankruptcy. More so because, ECRL started off with a government forecast of $26 billion and when the Najib-spawned 1MDB $46 billion fraud got our of control, was inflated to $55 billion to rescue 1MDB! We have a madman at the nation's helm.

When a country goes bust, it simple means it will face severe recession, wages will fall while living costs go through the roof, businesses will shrink or close down completely and millions will become jobless with no safety net!

Then, we will have to go begging to the IMF or World Bank for a massive loan to tide us over. With those loans will come stringent conditions which basically means the party is over.

Will Najib be there then to say sorry and make amends? No way! And that is the measure of the real evil in Najib and his government of thieves. They know it! They are willing to go for broke due to their utterly corrupt and murderous nature, their greed for money and the good life, totally at the Rakyat's expense.

THEY CAN GET AWAY WITH IT, ONLY IF WE LET THEM!

WE MUST DERAIL THE EVIL AND SATAN THAT GOES BY THE NAME OF NAJIB!

refer also M. Gunasegaram's Mkini article '10 Reasons why we do not need $55 billion ECRL'. CLICK HERE.

27/08/2017

NAJIB'S SKIM BUMIPUTRA SUPER HIGH INCOME DETAILS LEAKED! TONG BABI POLITICS?

by E.S. Shankar, Donplaypuks® intrepid correspondent for non-halal ponzinajibonomics affairs

Najib had hoped to announce full details of the Bumiputra Super High Income Program at the December UMNO General Asembly. However, many, upset over this Tong Babi (pork barrel) politics, leaked the draft uncensored proposal to Donplaypuks®. And here it is!

18th August 2017

FROM THE  DESK OF MOI
MINISTRY OF FINAN & HALAL NOTHING-HAM E-CON-OMICS
PUTRIDJAYA

MY DEAREST  BUMIPUTRA

May I take this opportunity to introduce myself, a fellow Bumiputra, to you? I am the daughter of a former prime minister.

Rosy, who wears the pants, and I, who wear the skirts, frilly French-lace panties and 52D-cup bras, have come up with a brand new Skim Off The Top Bumiputra 419 Super High Income'. This is based on complex new maths and algorithms which generated the formula TN50 (Tipu Negara 50Tahun) 26-9=15, similar to Einstein's E=mc2


This skim will made be available to all Bumiputra including those non-Bumiputra from Jawa and of Jawanese parents, as well as members of Persatuan Unggul Kumpulan India Muslim Mamak (PUKIMMA) KIMMA (Kumpulan Indian Muslim Mamak).

Where is the money coming from?

Simple!

The government has 1 Con-trillion dollars parked in off-shore banks. Money was raised first through 100% owned MoF company 1Must Die Bhd 1Must Develop Bhd or 1MDB, secured by Malaysian Taxpayer suckers by sovereign government guarantees.

MO1 then appointed the world's greatest ponzi scheme specialist investment expert Jho Low Paris Hilton (JLPH), assisted by his morals and ethics guru, Dr.Zakir Naik Barang (DZNB). We offered DZBN immediate citizenship even though he is wanted in India for money-laundering, accounting fraud, tax evasion, hate speech, radicalising Muslim youth and terrorism, for which an Interpol warrant of arrest has been issued for his bigoted and racist contribution to the nation.

JLPH and DZBN together with Rosy, myself, Riza and two Abu Dhabi Arabs, put all the money into our own pockets and bought million dollar yachts, bombardier jets, luxury condos and properties, artworks and $130 million of diamonds and gold jewellery for Rosy placed the money in high-yield segregated portfolio investments. These investments, in a pig's eye, cannot be easily valued. Our auditor's, Detoilette & Co Partners Internationalisasi have confirmed they don't know what the fuck happened to the money the asset valuations and signed a clean audit report.

It then transpired that JLPH and DZNB sold off the high-yield segregated portfolio investments which cannot be valued easily and fled with the money to Taiwan from where they cannot be extradited reached retirement age and can no longer offer their expertise to us. Accordingly, the investments and assets were sold and placed in an off-shore bank in "UNITS".

However, we just now cannot repatriate these "UNITS'. We are waiting for additional regulatory approvals from Rosy, we tell a lie from certain authorities, which may take several years (TN2050 26-9=15). 

However, the off-shore bank has indicated that if the government is willing to give sovereign guarantees, they would be willing to repatriate the UNITS. 1Must Die Bhd 1Must Develop Bhd's President and COO, Kenneth Kaunda Kundi Kanda (KKKK), has worked out a bullshit 'Rationalizasi Scheme' with the off-shore banks. He has laid out all the bald facts to the bank, our (IKEA Wooden) Cabinet and PAS who can't add 2+2 to give 5 or is it 6?.

My dearest Bumiputra, Rosy and I YOUR GOVERNMENT is willing to issue a guarantee to the off-shore bank on your behalf, FREE OF CHARGE!

WHAT DO YOU HAVE TO DO, MY DEAREST BUMIPUTRA?

COULD NOT BE SIMPLER!

1. Deposit Cash/Cheque/Bank Draft,/Cashier's Order/TT a small, negligible $26,000 Administration  Advance Fee in the bank account stated below.

3. Only 1 deposit per Bumiputra will be entertained. However, you may wish to take advantage of our 'DEPOSIT 2, FREE 1'  special offer for the first 100,000 depositors. Not satisfied? Then hurry! The first 100 depositors will also receive our 'Eat Your Heart Our Jane Fonda, Lose Weight and Restore Receding Hairline' Areobics video AND free membership to Rosy's 'Birkin Handbag and Diamonds & Gold Necklace Charity CSR Haj Exclusive Club'!!!



4. Email or fax your deposit receipt together with your name, scanned/photocopy of IC to us. Mark it for the attention of our Switzerland qualified, highly-trained and experienced bank manager as shown below:


5. Within 5 (five) working days of receiving your email/fax and confirming your deposit, we will transfer $2.6 million cash to your bank account, which includes return of your $26,000 Administration Advance Fee! Now, how about that? Just for you, my fellow Bumiputra!


6. As the UNITS have been also placed in your dreams in 6% per month high-interest bearing multi-currency deposits and diamond, gold and fucoal ventures, we will continue to deposit additional $2.6 million cash dividend cheques into your bank account, the later of TN2050 or for many, many years to come!

Now, do you think that tottering 92-year old fool with one foot in the grave, will do all this for you? Be honest! Vote for you know who!

Sincerely














1. BANK ACCOUNT:

a. Bank of Negeria-BSI
b. Name: MO1-MO2
c. Account: 2.6b1MDB-42mSRC
d. Email: hippo.con@jib.ponzi.con.bugis

Please note that the money will be deposited in our personal bank account. But, please do not misunderstand the situation. It cannot be regarded as if it is our personal bank account. We will not benefit 1 (one) cent from it. The excess money is for the benefit of UMNO/BN. But, they will not know about it. But, please do not not misunderstand the situation. It cannot be regarded as if the money is for UMNO/BN's benefit.



19/08/2017

ROSMAH'S $38 MILLION CASH RICH YAYASAN PERMATA (PERMATA FOUNDATION). WHERE DID $2.7 BILLION GO?

by E.S. Shankar, Donplaypuks® intrepid correspondent for einstein cloning affairs

Many Malaysians have been confused by Rizal Mansor, who, not so long ago, suddenly and mysteriously appeared as an aide to PM Najib. He is also Rosmah's (Najib's wife) spokesman. Why? This is how things are done in Malaysia, so that a person who has no position anywhere in government, is provided an aide free-of-charge, at the Taxpayers' expense.

It would appear also that there is no family link between Rizal Mansor and Rosmah Mansor, PM Najib's "world infamous" wife.


When questioned about Permata, Rizal produced screenshots which purportedly showed its accounts for 2013 and 2014 at its website. 


Let's be very, very clear.


Yayasan Permata (YP) is the private non-profit foundation of PM Najib's wife, Rosmah Mansor. She may claim that the administration and financial affairs of Permata are managed by the PM Najib's Department, but we all know how the game is really played.


Permata's aims and objectives are stated at its website as follows:




YP was newly registered in December 2012. The previously registered Yayasan PERMATA under the PM's department was wound up and its funds, amounting to $5,158,921, transferred to YP.

Since then, YP has received the following additional funds:


1. 2013 - $5.3 million from Najib. This represents money stolen by Najib from 1MDB/SRC and generously donated to his wife's foundation.


2. 2014 - A staggering $32 million (US$10 million) from Executive Affairs Authority, Abu Dhabi.

3. 2015 - $10,000 from the Palestine Embassy in Malaysia.

It's not clear why the government of Abu Dhabi donated $32 million to YP. But, much of Najib's 1MDB $46 billion fraud revolves around dealings with Abu Dhabi government-owned companies IPIC (listed on the London Stock Exchange) and Aabar. The main persons whom Najib (and Jho Low) dealt with were IPIC's MD Qubaisi and Aabar's CEO (Husseiny). Both of them have been sacked and now face criminal charges in Abu Dhabi and civil charges by the US DoJ for kleptocracy involving 1MDB's fraudulently diverted funds. US DoJ criminal charges are in the pipe-line.


It would therefore NOT be a big surprise, if there is considerable hanky panky surrounding this generous "donation"! (Much like Najib's blatant lies about that infamous $2.6 billion "donation" and SRC $42 million).


YP's summarised Income/Expenditure Account and Balance Sheet for 2013-2015 are as follows:







The full audited accounts are available for download at the YP website as follows:


1. 2013 - CLICK HERE.

2. 2014 - CLICK HERE.
3. 2015 - CLICK HERE.

As expected, there are no details of who the beneficiaries were of expenditure relating to donations, scholarships and other expenses.


However, the bulk of the expenses have gone to programs of doubtful benefit such as creating a Nobel Prize winner's mindset for "gifted children". One wonders if manufacturing a Nobel Prize winner is a great priority in a country which has produced few scientists of any note, let alone, internationally acclaimed scholars. Can genius be created like cars on an assembly line?


Is there an all inclusive approach in selection of candidates for the program? And what about building a firm foundation in our failing government schools where the majority of our students learn the basics? That is not a priority for Rosmah or Najib?

What the Rakyat really wants to know and see are details of Permata's spending between 2010-2016 amounting to $2.7 billion as mentioned in Najib's budgets:

2010 - $100 million
2011 - $111 million
2012 - $???
2013 - $1,200 million #1
2014 - $530 million #1
2015 - $711 million #1
2016 - $45 million #1
2017 - $85 million 

#1 includes budget for other early education programs and kindergartens

What exactly is our Ministry of Education for, if the PM's unelected wife is given tons of money to run a very iffy "gifted children" program? What expertise does she have in the education arena? 

Here are some questions which elected MP's and others have been asking about Permata and been stonewalled or given half-arsed explanations by the government:


1. Was Rosmah, or her company/firm/business or company/firm/business owned by her nominees paid any finders, consultancy or other fees or reward for setting up PERMATA between 2009-2016? How much?


2. Why is that after seven months, there is no news of YP audited accounts for 2016?

3. Why is Permata Insan spending millions of ringgit on producing Islamic scholars (Hafiz) learning the Quran by heart? Why should this program, run by the Islamic Science University of Malaysia (USIM) exclusively for Muslims, be funded by the government? Especially since the Ministry for Religious Affairs has a ridiculous annual budget in excess of $1 billion? How will Permata's STEM (Science, Technology, Engineering and Mathematics) program benefit from this wasteful expenditure?


You mean, all those Jews whom UMNO loves to stoke hatred against, and Westerners, won all those Nobel Prizes because they memorised the Torah or The Bible? What mental disease afflicts the likes of Rosmah and Najib?

4. How are students selected for these Permata programs - by mainly race and religion? What is the breakdown of students? 

5. Why is the prime minister's wife involved in programs for autism (Permata Kurnia) and setting up a childrens' hospital (Permata HKK). Zecon Bhd. has been awarded a $606 million Build, Lease, Maintain and Transfer (BLTM) 30-year contract for the HKK hospital due for completion this year. Why is this not under the Ministry of Health? 

6. How can UMNO/BN ram these expenses through Parliament when there is an obvious conflict of interest with the PM's wife given carte blanche authority to ride rough-shod over education experts and university professors, rendering them useless?


7. Despite having $38.6 million in cash, why did Rosmah recently ask the government for an additional $5 million?


Most laughable is the logo design for Permata Pintar incorporating a diamond. Permata in Malay means precious stones and jewellery. PP is a program to "nurture balanced gifted and talented individuals with inquisitive minds, individuals who shall contribute as world leaders, thinkers, innovators and humanitarians."



And of course, we now know, thanks to the US DoJ, that about $130 million of money fraudulently stolen from 1MDB, illegally ended up as diamond rings and gold necklaces round Rosmah's fat fingers and neck!

11/08/2017

HOW RM55 BILLION ECRL WILL BAIL OUT 1MDB BY MASSIVE FRAUD!

by E.S. Shankar, Donplaypuks® intrepid correspondent for rolling stock fraud affairs


1MDB/MoF failed to cough up one cent of its RM2.6 billion (US$603 million) debt to IPIC by 31 July (with an additional grace period up to 5th August).

Subsequently, PM/FM Najib's accessory to 1MDB $46 billion fraud, MoF Chief Secretary Tan Sri Dr. Mohamed Irwan Serigar bin Abdullah, announced that IPIC had agreed to extending the repayment date to 31 August, with the proviso that an interim payment of at least RM1.3 billion (US$310 million) be made by 12 August.

Serigar was quoted as saying that 1MDB had defaulted on its loan repayment "due to the need for additional regulatory approvals."

Here are the relevant stories:


So, what did lying Serigar mean by mysterious governmentspeak waffle "monetization of units" and "additional regulatory approvals", when:

1. Najib, 1MDB and MOF had 92 days from end April 2017 to plan for the debt repayment.
2. The whole world knows that the so-called "units" only exist in the wild imagination of Najib, Serigar and 1MDB President & Executive Director Arul Kanda.
3. Between Najib, Serigar and Govt Chief Sec Tan Sri Dr.Ali Hamsa (whose nominee Dato Norzaman Ayob is a director of 1MDB), they constitute the entire financial approving authority in Malaysia!!!

The truth is all of them had planned for the cover-up and illegal bail out of 1MDB in July 2016, as exposed by Sarawak ReportCLICK HERE.

The Najib approved plan included criminally inflating the projected RM26 billion East Coast Railway Link (ECRL) project by an additional whopping RM29 billion, to land the Rakyat with a massive RM55 billion bill.


However, China's central government threw a spanner in the works in November 2016 when it announced a crackdown on corruption in state-owned companies by imposing capital controls. This resulted in utter failure for Serigar, when he manipulated the illegal removal of IWH-CREC JV as 60% shareholder in 1MDB's Bandar Malaysia RM200 billion development. Serigar, whose greed knows no limits, had sought to replace IWH with China's Dalian Wanda Group for a higher share price.

Serigar, who should have been sacked particularly for this scheming, had egg all over his face as the Dalian Wanda Group failed to show up, amidst rumours of its Chairman being involved in corruption. It would also appear that China was not too amused at the mistreatment of CREC (China Railway Engineering Corporation) by Serigar who had cooked up stories that IWH-CREC had failed to stick to payment schedules. In the end, MoF was forced to refund IWH-CREC RM786 million of deposits and advances that it had paid.

Refer:

Part of Najib's plan included 1MDB receiving RM3.7 billion (US$850 million) from China state-owned company CCCC (China Communications Construction Company), in exchange for its 234-acre Ayer Hita, Penang land land and "other assets".


However, this plan did not materialize in time presumably due to the China funds freeze on state-owned companies and 1MDB being unable to deliver "other assets" represented by fake "units".

Now we come to the crux of the fraud.

Almost every project mooted Najib has to have the tag-line 'GAME CHANGER' without which it would appear a project cannot be important or succeed.

CCCC was banned from participating in international tenders in 2009 by the World Bank, for fraud and shoddy work. CLICK HERE.

Yet Najib and 1MDB have signed a RM55 billion inflated contract with CCCC without open tender. Had there been one, any number of countries would have been willing to provide cheaper loans, e.g. Japan where interest rates range from 0% to negative -.01%!

CCCC is apparently charging 3.25% interest per year for a 20 year loan, with no repayment of interest or principal loan for the first 7 years. As the ECRL project is scheduled to be completed 2024, it will have to repay CCCC the RM55 billion by 2044.

ECRL need not service interest or principal for the first 7 years. Presumably, interest will be accrued for 7 years and become payable over the next 13 years. At 3.25% p.a., that works out, compounded, as RM13.8 billion. The interest on the full loan on a reducing basis thereafter, will about RM14 billion. Where is the government going to find RM83 billion (55+14+14) to repay CCCC?

As analysed by Mkini columnist P.Gunasegaram, CLICK HERE, ECRL is:

1. A single electrified railway track built on a double-tracking formation for 688km, running from Port Kelang on the west coast to Tumpat on the east!
2. It is not economically or financially viable, given that the RM36 billion west coast double-tracking project is an utter failure in terms of generating profit or servicing loan.
3. Much of the freight volume and rate increases are based on China as a single customer. Can China generate enough business from 2025, transporting goods via ECRL from and to our west coast to east coast. The Chinese may save money bypassing Singapore, but can we generate meaningful profits with a price tag capital cost of RM83 billion? CLICK HERE.
4. ECRL is unlikely to break-even for the next 50-100 years!
5. No estimation has been made for loss of business on the existing railway lines from KL to Mersing and Mersing to Kota Bahru!

Since CCCC is willing to collude with Najib/MoF/1MDB to commit international fraud, this will likely be the route:

1. The contract with CCCC wil incorporate a lot of fake work and bloated prices to justify RM55 billion.
2. Over the next 7 years the crooks will have to issue a lot of false invoices for work NOT done.
3. As CCCC is paid the RM55 billion, it will transfer the money back to China or off-shore. From there it will use the excess RM29 billion to settle 1MDB's debts, claiming either to have bought its infamous fictitious "units" and non-existent "investments for sale" reflected in 1MDB's 2014 balance sheet.
4. CCCC will not pay for 1MDBs fictitious assets in Malaysia, as they will have to overcome regulatory approvals and valuations from Bank Negara and the Securities Commission. Najib is a crooked Finance Minister who will only too willingly break BNM rules to save his own skin, as he did in 2015!


5. 1MDB will then claim that it had liquidated all it fictitious units and investments to part pay its  huge debts estimated currently at about RM80-85 billion. It will gladly falsify its accounts which will be "audited' by well paid and compliant auditors.
6. Who will really pay for it all between 2031-2044? It will be all those young students now who will be saddled with 15-year car loans, 20-year PTPTN loans and 35-year housing loans!

And that is how the sting will be played out by Najib and his government of thieves, looters and plunderers, as they laugh all the way to the bank, happily singing "That's How It's Done, Stupid!"

Unless we stop them. 

Our real enemy is ignorance. UMNO/BN under Najib has killed our education system, with the 'O' level pass mark for some subjects being as low as 15! Many out there just do not understand the danger of a RM83 billion fraud on top of a RM46 billion fraud at 1MDB and another RM30 billion at PPFI (and more). 

This is being passed on to future generations, when under Najib again, our national debt has already more than doubled and ballooned to RM687 billion!

I have read opinions and comments on twitter and Facebook from people who think that projects like the ECRL should go ahead as it will generate economic activity, regardless of the true cost to the Taxpayer.

And as the day soon arrives when we can't pay the train drivers or repair faulty signal lights, relays and railway tracks, what then? Abandon the trains where they stop and complete the journey by foot?

So much for a 'GAME CHANGER', more like a 'GAME CLANGER'!!!

Related blog posts:
1. http://donplaypuks.blogspot.com/2016/10/najibs-next-rape-of-malaysia-after-30.html
2. http://donplaypuks.blogspot.com/2016/11/najibs-144-billion-pie-in-sky-china-con.html