Tun Mahathir is appearing at the Dewan Tunku Syed Putra, Universiti Sains Malaysia Penang this morning to deliver a talk entitled "Youth and Nation Building". Glad that Dato Najib didn't play rough to block or get someone to sabotage his event.
Tun M's presence is welcomed by the "PASMA" faction and Information Chief of PAS, Dato Mahfudz Omar. In Harakah Daily here, he hoped Tun M would use the occasion to explain on his position on GST and 1MDB.
His intention is not so much as for issues to help the nation building by oftenly described by the cliche "future leader of tomorrow." Mahfuz is more keen to see the issues helped PKR in Permatang Pauh.
Datin Seri Dr Wan Azizah will win but her campaign is struggling. She is banking on GST and 1MDB to lift her out of her doldrum [read MMO here]. PKR and DAP already managed to get the Anwarinas to force on Penang PAS Youth to gave a statement of support. [Read The Unspinners' latest here and here]
Concerned Tun M supporters are worried that it will only attract criticism that he is helping the opposition and it will invite continued personal attack against him. It is disheartening to see him treated this way late in his age.
There are already rational and unemotional views (not the cybertrooper level of tirades type) that have openly expressed lost of respect for him [read this blog here]. This was once a Tun M supporter and defender [read here].
Quite a few orang UMNO - be it pro Najib or not - had no issue with the differences of view on policies and even 1MDB or GST. They turned sceptic when Tun M took personal swipe at Dato Najib's family and insinuate involvement in the death of Altantunya. They thought Tun M had gone personal.
But who is to tell Tun M that? None of his concerned supporters dare tell him to stick to the real policy issue.
As Joceline Tan wrote in her weekend column here, there are among supporter-bloggers that attended briefing that were not convinced. For one, the missing RM27 billon of 1MDB fund seemed bizarre and more typical of Outsyed The Box style of spinning numbers.
More forthcoming
The Unspinners published latest balance sheet summary here.
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| 2011-2013 |
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| 2013-2014 |
A quick look shows all the asset item are accounted for. Off course, more need to be seen.
Furthermore, the current auditor had certified and sign the 2013 and 2014 accounts. A quick check on SSM online revealed that 1MDB have been regularly submitting their audited accounts to SSM. This is in contrary to claims by a Kelab Che Det (KCD) officials.
KCD can be a fanatic lots but they lack substance in defending Tun M. In the latest questions replying allegations against Tun M and questions on Tun M's reply, they could only argue that Tun M does not say or do anything unless he is sure.
True but it requires more than that. It requires facts, non-debatable facts. Critics will still see questions as making allegations.
Thus far, Dr Puad Zarkashi has a basis to say no proof of the allegations have been presented. That is along this blog's issue that most allegations (including questions) are based on anonymous sources.
Soros funded through Global Witness, Sarawak report kept claiming they have documents, correspondance, and evidences but not it is published. At one time, they cannot not publish even unrelated documents.
In a chance meeting with an insider in a certain high office, he repeated the same argument. Tun M would not do things without knowing the full details. He said there is something wrong and it is giving Najib headache.
If that is anything to go by, then Tun M will only have more to reveal.
Auditor statement
With this posting, hopefully Tun M will provide more to clarity certain issues.
Maybe reply and teach this hard-hitting posting here by dentistry-trained Tun Faisal that have gone viral on the social media. His first observation was Tun M had earlier said or wrote that RM42 billion dissappeared but now say it is RM27 billion.
An email response to The Unspinners got us the full accounts of 1MDB. The first shock that we got was the front page had a chop saying accounts in unqualified.
In both the Auditor comments, it seemed pretty standard included the following clause (b):
Mentioned is "obtaining sufficient appropriate audit evidence" and"do not contain misstatements".
Unless there are evidences and the Auditor General should point it out, then Deloitte could be in for Enron II scandal. Otherwise, the "unqualified" audited accounts should be taken as good.
Changing Auditor
The change in auditor from KPMG to Delotte for the 2013 accounts triggered suspicions. This is quite usual in the stock market whenever anyone change auditors there will be analyst finding out why?
Is there hanky panky going and accounting treatment looks suspicious that resulted in the accounts not signed by the auditors thus they had to redo the auditing by another auditor?
On the other side, some auditors can be, to borrow Outsyed The Box term, dunggu.
They could be stubborn as to not sign the accounts just because they do not understand certain accounting treatment. The auditors entering office premises and going through company's private books are junior ones but company financial controllers and CFO are senior people, probably ex-auditors.
Definitely, should these accounts be untrue, then it is trouble for 1MDB.
Financial notes
The important material in any analysis of the account is to know the accounting policies and notes to the accounts. That could help to uncover where the so-called money of RM27 billion that had disappeared but appearing in some bogus items.
That will be too lengthy so we keep it strictly to the asset side of the financial notes and the big items. The smaller items won't add up to RM27 billion. That is to be left to some NGO accountants to nitpick and split hair over.
Read on:
Note 12: Property, plant and equipments
Note 13: Investment properties
Note 14: Investment in subsidiaries
Note 17: Service concession receivables
Note 18: Available-for-sale investments
Note 23: Other receivables, deposits and pre-payments
Note 24: Intangible assets
Those wanting more details should just pay a visit to SSM. The cost for company search is RM20 per company. Non CTC print is RM1 per copy and CTC is RM5 per copy.
Quite sure Tun M has all the facts and details to explain how the RM23 billion that was accounted for had disappeared.
The accounting tricks and play of definition, done along the law is both a science and art that resembles the card tricks of gamblers in Las Vegas and Monaco. Mere mortals like us non KCD will not be able to see.
Usually after his first round of appearances, where Tun M would stick to a set of scrip and repeat to a set of lines, he would add more materials. More sordid happenings will be revealed as he goes along.
The nation, especially Najib's office will be waiting with abated breath.
Even if Najib is not ousted and all these is a kepong trick to safeguard BBN, Najib should at least realised how terrible are the highly paid and so-called brilliant (but lack experience and dedication) young executives in 1MDB are getting out smarted by an almost 90 year old doctor.