Rocky Bru's latest posting highlighted public's screwed up sense of consistency and integrity is to meet to their biased or rather propaganda manipulated viewpoints.
Never do they ponder that they have been made to look the other way by propaganda and rhetorics.
Have anyone thought for a second that Dato Najib or even Datin Seri Rosmah couldn't possibly lay out the so-called long-winded money flow back to Najib's personal account?
Other's can make their assumptions but as we see, it couldn't be them both. One possibility (still a possibility) can create the element of doubt in any court.
Such transactions has to be done by someone with the experience in such esoteric off-shore banking and investment schemes.
It is not by any Tom, Dick and Harry banker or stockbroker or fund manager.
Najib would merely give the go ahead based on what was advised to him by either first CEO Dato Shahrol or as alleged by many, Taek Jho Loh.
Surely the intention told to Najib would be good and holy. PM cannot be expected to know the technical nitty gritty thus unfair to be wrongfully guilty. Furthermore, the accusers including Tun M have yet to offer any proofs.
If the money trail is true as certain investigators like to believe and without giving a second doubt due to lack of knowledge in such esoteric financial product, then it has to be the most sophisticated amateurish work.
The real reason for the maze of money flow cannot be merely to siphon money. It is layers and layers to enable and justify a purpose.
And, there can only be one and only one person in Malaysia who loves to dabble and do such financial structure and that is Tan Sri Nor Mohamed Yakcop. He is keeping quite in the background but this mamak watcher have not forgotten him.
Geng Loceng
By now, the consistent message from this blog - to seek for the truth and not be lost in the propaganda and perception game of Geng Loceng - should be clear.
Never did this blog say 1MDB was absolutely kosher or halalaan toyyiba. This blog kept reminding not to make presumptions, buy into simplistic politically motivated logic and wrongly accuse people.
Same with Tabung Haji case. Geng Loceng have not given up on their slander of Tabung Haji.
Though it was answered conclusively by Tabung Haji [read here], there was still attempt to raise doubts [answered here]. Rafizi is now squirming to get out of this trap he has set himself [read here].
This time, Razak met the press to explain himself of the "commission" received via Hong Kong registered company, Terasasi Ltd Hong Kong.
His commission met the EU requirement. It is all completely legit and common practise in millitary procurement.
The exchange rate is much lower than the current exchange rate, so lets not blow up the figure to RM130 million. Also it is not as straight forward as percentage of the amount of the procured asset. Itu sudah auta Keling!
The submarine procurement were revealed and explained way back before the general election. [Read 2012 postings here, here and here].
To show their naivety, the Geng Loceng may have got some foreign news to report French authorities are investigating. Same ploy by SUARAM's C4. Together with other recycle reports of FBI investigation, it is obviously the work of hired International PR agency.
The Razak and Altantunya game must have been the brainchild of someone whose not been keeping in touch with the issue. Either he was inside a jungle in Sarawak then or have been in and out of hospital over heart, or diabetes or high blood ailments.
Over CNY, Dato Mukhriz made press statement after being rejected by UMNO Division Heads, UMNO state assemblymen, and KCS and removed by the royal household. He requested the Royal Council of Rulers to get briefing from the investigators.
It is ironic of him to do so. His father curbed the rulers power, then Mukhriz was resisting the royal displeasure and dragging palace into his political problem, but yet giving his trust to the royal household and requesting them to do something not according to the tradition and practices.
He is emulating the theatrics of Dato Khairuddin Hasan. [Mukhriz is criticised here]
Subsequently, the Geng Loceng made a fuss over Attorney General suggestion to amend the Official Secret Acts to make the punishment more stern on leakages in government.
In principle, we agree.
Leak by government officers including top officials have reached epidemic preportion. Action should start with the irresponsible and devious intended manipulation of Tabung Haji leak documents.
However, life sentence is a wee bit too much. It is also not so simple because it involves not only OSA but the amendments of five to six other laws.
Perkasa argued what is wrong with leaking documents on Government wrongdoing.
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| Any of these hold water? |
Such argument is so old PAS logic in style.
Quiet hidden hands
In Presumed "Guilty" II, this blog's repeated it's stand from the very beginning that should there be any hanky panky, it has to be Jho Loh and the first CEO of 1MDB from the days of TIA, Dato Shahrol. Both were instrumental in setting up of TIA and was involved in the much questioned Petrosaudi deal.
Shahrol and another early days member of the Board of Director of TIA, Tan Sri Bakke Salleh will be facing PAC from tomorrow, 11th to the 12th.
Shahrol is not a financial man but was a consultant on some mumbo jumbo matter from Accenture. At TIA and 1MDB, he grew arrogant to the point of calling local Banks as bank kampong. Arrogance usually hides a person's insecurity. It is not presuming guilt but it is indication of something is wrong and leading to suspicion.
However, despite much claim on the ability and genius of Jho Loh, the two of them are likely to be too young and inexperienced to conceptualise the real (and still untold) purpose of the alleged money flow as published by The Edge.
The disputed money flow involved Petrosaudi and some sukuk bonds issued. Rafizi and Tony Pua have raised it but both are missing the real target [Search in here].
The Sheikh claimed that the "donation" was from a private citizen is interesting.
He added it could be investment instead of donation. [Read in FMT here].
As expected, the critics of Najib and Geng Loceng went all out to accuse the government of lying and thought they have got Najib cornered. They fail to realise that it expose their inadequacy.
The statement also reaffirm that the money is not from 1MDB as they once accused. Najib received the money legitimately from someone.
Nevertheless, the Saudi Minister must be truly extraordinary. He could comment on a private citizen's "investment". He may have indirectly highlighted a certain feature of Islamic banking and finance.
This brings us to one mechanism which is part of the principles of Islamic Banking. The mechanism is Qardul Hasan (benevolence) or in other word, donation. Maybe (it is still maybe) that was what is understood by the Minister.
There are seven mechanisms in Islamic banking and finance. Combination of two or three mechanisms are seldom applied to create Islamic financial instruments. It serves to duplicate or justify emulating conventional financial instruments. [Read Prudent press here]
The person capable at conceptualising and daring enough (in other word, willing to take huge losses) to take the risk of doing such deals can only be Tan Nor Mohamed Yakcop. He is on the Board of Advisers of 1MDB from the inception. [Read Kinibiz highlights of NMY, Jho Loh and Shahrol here]
And he was appointed there for his Ministerial position then. Quoting Wikipedia:
... he served with Bank Negara, the Malaysian central bank, from 1968 to 2000. During his time in Bank Negara, he was responsible for the implementation of a number of major projects, includingHe was also involved in a currency speculation scandal in the early 1990s, where Bank Negara lost up to RM30 billion. No actions had been taken on him as he moved on to hold important government positions.[2]
- the implementation of Islamic banking in Malaysia
- the setting-up of the bilateral payments mechanism between Bank Negara Malaysia and Central Banks of South-South countries
- the setting-up of the Rating Agency Malaysia Berhad.
He was the Special Economic Adviser to former Prime Minister of Malaysia, Tun Dr. Mahathir Mohamad.
In 2002, he was appointed the director of Khazanah Nasional. He played a major role in government-linked companies (GLCs) like United Engineers Malaysia Berhad and Malaysia Airlines. The transformation of the GLCs is another feather in his cap. Following the Asian financial crisis, many of the GLCs were mired in debt and rudderless. In retrospect, his solution to their problems was simple.
First, he restored their balance sheets using the Government's sovereign guarantee when necessary as this guarantee cut down their cost of funds. Then he got young, bright professionals to manage these GLCs, giving them wide latitude to run these huge corporations but with the proviso that they did not line their own pockets. To ensure that they delivered, he introduced key performance indicators and service contracts. The GLC transformation is now into its third phase – and delivering results.He is too familiar with Islamic banking and had business interest in the UAE. Willing to do things beyond his background and area of expertise. Daring to take risk and lose money. Done creative financial and policy matters.
He was a member of the Dewan Negara, the upper house of the Parliament of Malaysia, for two terms before stepping down to run for the Tasek Gelugor parliamentary constituency in Penang in the Malaysian elections on 8 March 2008.
Crooked enough to halalkan cara. His exploits have been extensively written in this blog [Search here].
All the elements are there to presumed he is involved. It is almost near to impossible that he is not in the know of what is happening at TIA and 1MDB. As former MoF II or Minister in charge of EPU, he cannot not be consulted either by Pak Lah or Najib on TIA or 1MDB.
But why is the Adviser quiet?
Mind you, Nor Yakcop pretty much fit in the Geng Loceng profile. If there is anything to proof this suspicion, Tun Mahathir disagree with bloggers' call to get him sacked at one time.
So Nor Yakcop has got one leg with Tun M, one leg with Pak Lah, and one leg with Najib. Most important, he has many legs for himself as one Mamak blogger used to described.
Pandai dan licik Mamak ni ...
[Will update later. Some family matter to do first.]
Updated, Edited and Linked: 11/2/2016 9:30 AM