Excellent analysis of Najib's $144 billion deal with China (cloned from http://donplaypuks.blogspot.my)

NAJIB'S $144 BILLION PIE IN CHINA SKY CON JOB MOU!

by Sum Ting Wong, Donplaypuks® intrepid correspondent for China affairs

Crime Minister Najib can no more change his lying and thieving ways than a leopard can change its spots. So too with his just announced $144 billion of con job MoU signed with China in a sudden and dramatic shift of global alliances away from USA and the West.

This is the demagogue who was accused of drawing out a keris and threatening to spill Chinese blood at the TPCA stadium in 1987, and who in 2013, in blatant racist overtones, accused the Chinese of causing a Tsunami in voting for the Opposition and losing him the popular vote at the General Election.

Now he is busy pawning Malaysia's prized land banks, infra projects and defence procurement contracts like its going out of fashion, not caring a toss about the damage that will do to to our finances, growth or world standing. But, Najib lost his moral compass way back in 2006 with his involvement in the C4 murder of Altantuya. CLICK HERE for 'Murdered In Malaysia: The Altantuya Story.'

Make no mistake. It was either that or hara kiri for Najib. There is a huge $30 billion hole in 1MDB's balance sheet resulting from the looting of 1MDB by Najib and his thief-in-arms, Low Taek Jho aka Jho Paris Hilton. Together with interest on massive borrowings, 1MDB's debts, much of it falsely classified as investments, stand at $53 billion. The "investments" are represented by worthless "units" or IOU, fake papers created by Jho Paris Hilton through dummy corporations and fake investment holding companies incorporated in off-shore tax shelters fronted by his handsomely paid (with money looted from 1MDB) Mafia.

Genius audit partners at Deloitte & Co were duped into signing clean audit reports for 2103 and 2014, blinded by the fact that Najib's son works there as a partner. Deloitte resigned recently, hoping to avoid global negligence law suits by putting out a disclaimer that their 2013 & 2014 audit reports should no longer be relied upon. But, it's too late. Deloitte can be sued by any investor or bond holder as no audit report can be legally withdrawn after it's been approved via a resolution at a company's AGM and financial statements filed with the Registrar of Companies.

There is another $4 billion of borrowings from KWAP, the government's pension fund for civil servants, that has gone missing from 1MDB. Possibly, a hundred million or so ringgit is accounted for by investments in Mongolian and Indonesian coal-mining ventures. The rest was looted by Najib and Jho Paris Hilton. When threatened with loss of testicles by Malays, Najib, as also Finance Minister, illegally transferred the $4 billion loss to the Ministry of Finance (MoF) where rests the debt to KWAP, guaranteed by the Taxpayer with details classified under the Official Secrets Act (OSA)!

Now we come to the $144 billion of MoU with China. CLICK HERE. Firstly, MoU are a dime a dozen. A few years ago when Najib went to Kazakhstan for his daughter's wedding, he took along with him a planeload of relatives, friends and civil servants, all expenses passed on to the Taxpayer by the biggest cheapskate freeholder (and his wife) in Malaysian history. To make it look real, some 40 or 50 MoU were signed between Malaysia and Kazakhstan. Till today, not one has materialized as a contract or project of any worth!

Secondly, all these projects will result in outflow of money from Malaysia to China. Ultimately, the Malaysian Taxpayer will have to foot the cost. It's not a case of the Chinese actually bringing in FDI's to invest in sustainable long-term businesses in Malaysia. They will be mere contractors. Remember, MALAYSIA has to pay for littoral ships, frigates and their maintenance contracts. That being the case, why are there no open tenders for purchase of ships, arms, weapons etc.?

Of the $144 billion of MoUs, we have the price-tag for only 1 project - the 55 billion East Coast Railway Line (ECRL). There are no figures for the rest.

In July, Sarawak Report leaked out that Najib was planning to fraudulently tag on $30 billion to the ECRL 600km project to plug the $30 billion he stole from 1MDB, thereby increasing the project cost to a staggering unheard of $60 billion or $192 million per kilometer! CLICK HERE. 

By comparison, work is scheduled to begin on the 197 km Gemas-JB double-tracking railway project awarded to China Railway and costing $7.13 billion or $36 million per km!! CLICK HERE. Given the way things are done in Malaysia, you can be sure that even the $7.13 billion price tag has been inflated by a minimum 15%. There may be a few extra tunnels, still, how could ECRL cost 5.5 times more per km than Gemas-JB?

A clueless Works Minister Fadillah Yusof screamed 'foul', saying it had not been discussed at Cabinet level at all. But, the biggest and worst conscienceless crook in Malaysian history, Najib, has now bypassed every government department and Minister, and signed the MoU with China state-owned company, China Communications Construction Company (CCCC), fr $55 billion, without calling for an open tenders. 

The reason is obvious. CCCC has been blacklisted by the World Bank for serial corruption and shoddy works in several countries. CLICK HERE. A leopard can never change its spots. In 2002 Najib as Defence Minister, signed the $8 billion Scorpene Submarines contract with DCNS of France knowing they were involved in corruption AND MURDER in Taiwan and Pakistan! The ECRL project handled personally by Najib stinks of corruption even before a single line has been sketched on the drawing board. More than that:

1. How could ECRL cost $27 billion and the financing, more than 100% at $28 billion?

2. Where are the revenue projections to show how the capital sum of $55 billion and subsequent commissioning, operational and maintenance costs will be paid?

3. What is the break-even cost and years of this project? In the past, the EPU (Economic Plundering Unit) under previous crime ministers, came up with fancy pie-in-the-sky passenger traffic numbers to award sweetheart automatic toll increase and compensation contracts to croney Toll Highway Concessionaires. Similarly, in justifying $30 billion for the double-tracking railway projects, they came up with unheard of increases in passenger and freight load volume projections. Yet, KTMB has turned in nothing but huge losses.

4. Once the ECRL is completed, if ever, then the current Gemas-Kelantan line will lose big money. Has Najib factored this into his business model?

I will give it to you in black and white right now - the ill-conceived and fraudulent $55 billion ECRL, like Perwaja, Proton, MAS, will turn out to one of the biggest money losers in Malaysia's financial history.

Najib has also issued a full commercial bank licence to China Construction Bank, reckoned to be the second largest bank in the world. This surely means that Maybank, CIMB, RHB and Affin, all tier 1 banks, will take a massive whacking in profits and share prices. Has Najib thought that far ahead to what it will do to his racist Bumiputra agenda? How will the Malays react?

As for Melaka development etc., why exactly does Najib need the China parties? If you are going to hand out multi-bilion ringgit real estate projects on plum long-term deferred payment terms, why not do it by open tender to local and/or international developers? Unless of course, fraud and corruption are major considerations! 

Believe me, bird's nest export and research are not going to propel Malaysia into high income nation status anytime soon. And why would China set up a steel plant in Sarawak? Where would the steel be exported to? Malaysia where Perwaja has failed big time? To China where they can produce it cheaper and there is a slow down? Are these MOU for real?

Remember, all the other MoU too will result in OUTFLOW of money from Malaysia. Where will Najib find the money when our debts have exceeded $800 billion, and has more than doubled under him since 2009?

Jack Ma appointed digital consultant? Don't make me laugh. We had Bill Gates before and where did that get us? It's not Jack Ma who's the problem, it's the Najib mind-set. Crooks and thieves around whom three murders have revolved have no interest in the PEOPLE or their welfare.

They are doomed to fail spectacularly, not least because Communism and Islam sit uncomfortably side by side!

Dean Johns: BN is a National Affront!

Umno members stomp on a cow's head to protest Hindu temple (Samsul Said)

BN adds insult to injury
Dean Johns | Malaysiakini
12:01PM Apr 11, 2012

Barisan Nasional, it seems to me, has got itself trapped in a classic lose-lose situation.

Courtesy of Mob's Crib

Not only is this rotten regime increasingly revealed as a nothing but a national front for the criminality of its members and cronies, but it is causing even more national affront by its brazen attempts to conceal, deny, excuse and above all continue committing its crimes.

For example, as if it wasn't reprehensible enough to be responsible for the death of the innocent Teoh Beng Hock in the custody of its anti-corruption commission, BN proceeded to insult Malaysians' intelligence by staging an ‘inquest' that found his death to be due to "neither homicide nor suicide."

And now, in a further cold-blooded slap in the face to Teoh's bereaved family and friends, and to the outrage of the Malaysian people at large, the Attorney-General's Office has announced that three MACC officers allegedly involved in Teoh's death have no case to answer.

But it gets even more offensive than this.

Nation's sleaziest crook moonlights
as the Attorney-General

The aforesaid attorney-general, Abdul Gani Patail (left), was the lead prosecutor in the BN regime's first trial of Anwar Ibrahim on trumped-up sodomy charges, and is now, together with former inspector-general of police Musa Hassan, subject to sworn allegations of involvement in organised crime.

If the elevation of a figure as suspect as Gani Patail to the office of attorney-general isn't sufficiently insulting to the Malaysian people and the principle of justice, then I don't know what would be.

Devious and duplicitous

The most reviled & ridiculed
home minister to date

But of course I actually know only too well: it would be the saddling of Malaysia with a home minister as devious, duplicitous and downright disgraceful as Prime Minister Najib Abdul Razak's cousin, Hishammuddin Hussein (right), who recently blithely dismissed the organised crime allegations against Gani Patail as "unsubstantiated."

Hishammuddin, of course, is the minister in overall charge of Malaysia's insulting apologies for ‘law-enforcement' agencies, and thus ultimately responsible for the blackest blot on the BN regime's dark record, the deaths of Teoh Beng Hock and countless other ‘suspects' in fake ‘shoot-outs' and ‘accidents' in custody.

But as deeply offensive to all Malaysians as it has been to be handed Hishammuddin as their chief ‘protector', the most outrageous insult of all by BN to Malaysia and Malaysians was the appointment three years ago of Najib Abdul Razak as prime minister.

It would be difficult to show more contempt for the people than to so scorn their revulsion at the murder of Altantuya Shaariibuu, the Mongolian woman involved in the notorious Scorpene submarine scandal, as to elevate the defence minister suspected of involvement in these crimes to the nation's highest office.

No garland big enough to conceal the stench of insatiable greed (The Malaysian Insider)

Yet that's precisely what BN did.

And the Malaysian people have had to live under the shadow of this deadly insult ever since.

And what an insult and an embarrassment it has been, and continues to be.

Having sworn on the Quran that he had nothing to do with the Scorpene submarines or Altantuya Shaariibuu affairs, Najib has not only presided over the continued extra-judicial killings of ‘suspects' like Teoh Beng Hock, but has further compounded these offences by contemptibly failing to press for their proper investigation.

Luxury coach trip with the fake Mentri Besar of Perak

Then, as if determined to heap further insult on such injury to victims of his criminal regime, he's called on his BN collaborators and cronies to defend Putrajaya with still more "broken bodies" and "lost lives."

He's insulted the intelligence of every Malaysian by calling on them to have faith in his lying "1Malaysia" slogan, despite all the while betraying their desire for racial and religious harmony by covertly sponsoring hate-mongers like Perkasa, Ibrahim Ali and Utusan Malaysia.

Najib: "We will defend Putrajaya with our broken bodies..." Against whom?

Daylight robberies

To grievous financial injuries to the people like the RM12-billion PKFZ scandal, the rape of Sarawak's resources by the Taib dynasty and dozens of other daylight robberies, he's added the insult of allowing these and other thieves get away scot free.

To the injury he's done to the nation through his own and his accomplices' profligacy with public money, he's added the insult of calling on Malaysians to tighten their belts and curb their personal spending.

Saiful Bukhari Azlan's infamous anus almost derailed Anwar's career (AFP)

To the injury he inflicted on Anwar Ibrahim by subjecting him to a trial on yet another trumped-up sodomy charge, he added the insult of trying to further smear Anwar by permitting if not actually supporting the production and dissemination of the ‘Datuk T' sex tapes.

To the injury he's done Malaysia's international reputation through spending a fortune on fake documentaries for Bloomberg and the BBC and ludicrous PR campaigns on his own and his consort's images, he's added the insult of using an Israeli-owned PR company while posing as pro-Palestinian.

To the injury he does the Malaysian people by persisting in suppressing the news media by means of the pernicious Printing, Presses and Publications Act, he's added the insult of falsely pretending to promote press freedom and claiming that Malaysia's mendacious media are among the world's best.

Just as his doltish deputy, Muhyiddin Yassin has attempted to cover-up the injury that BN has inflicted on Malaysia's education system with the insulting claim that it is better than that of the US, UK or Germany.
And most unforgivably of all, as aware as you or me that he and his regime are utterly unelectable in a clean and fair contest, Najib is determined to keep doing the democratic process an injury by every traditional BN means - gerrymandering, roll-stacking, foreigner-registration, voter cloning, postal-vote manipulation and blatant bribery.

While simultaneously adding the insult of pretending to be a ‘transformer' and staging a phony inquiry into electoral ‘reforms' that he has no intention whatever of instituting.

Shahrizat & Najib: RM250 million worth of bull

Meanwhile, he's added the insult of declaring himself the minister for women, family and community development to the injury of refusing to fire the previous incumbent, failed political candidate and back-door senator Shahrizat Abdul Jalil, for her family's involvement in the National feedlot scandal.

And in the process of announcing this move, he had the additional effrontery to declare that Shahrizat, in retaining her post as chief of Wanita Umno, "will assure a big win for the BN in the upcoming general election," and to add that "I dare say that the people are gradually coming back to us; their affection for us is rising.

To which all I can say is that, far from feeling renewed affection for Barisan Nasional, more and more Malaysians are affronted and offended by Najib and his accomplices' every word and deed. And thus the suggestion that this gang of crooks deserves even one more day in office, let along five more years, only adds yet another deadly insult to decades of unforgivable injury.

The Last Umno Emperor, Ah Jib Gor

[This is such a powerful piece I felt compelled to share it with those who don't subscribe to Malaysiakini!]