Screenshots

Whether it's a fact or not, i think internet will serve as a tool to make those cronies to behave ;)

RM150billion is a huge amount. How will Malaysia ever going to pay back?

Well if the country goes to the dogs,these guys don't care.

Hidup Pak Lah.Hidup Keluarga Pak Lah! Malaysia bankrupt..tak apa lah...asal 'rice bowl'orang VIP tak dikacau dan bertambah besar 'rice bowl' dia!!!!

More background info on the USD 50 billion at http://malaysianunplug.blogspot.com/2007/01/usd-50-billionmalaysia-its-pm-abdullah.html

Jeff, does this means Malaysia already bankrupt? or will bankrupt if 9MP turns sour?

Can someone explain the consequences of this? Apart from the irregualrities, does it also mean that we could have gotten ourselves into a very serious debt position and even worse off a "highly" infalted interest rate which we wouldnt even know?

JEFF OOI says: Consequences? Imagine the following scenarios:

(1 ) Malaysia's No. 1 -- the PM cum Finance Minister -- ihas authorised the issuance of Govt Guarantees to a "company about to wind up" and a foreign shelf-company; ( 2 ) Bank Negara has been officially notified that the Government has no objection to the wheel-dealing of these two private companies; ( 3 ) With these guarantees, the two companies cited, and indeed anyone at all for that matter, can raise funds anywhere.
given that no else knows of this transaction; ( 4 ) Funds can then be diverted to personal accounts; ( 5 ) And when it's time for repayment, the lenders can have the option of running to the BN government which "had no objection" to their deals in the first place. ( 6 ) The Malaysian government will repay without any of this becoming public -- the caveat may be that the PM/Finance Minister and his political dependents remain in power; ( 7 ) With that, the recipients of the US$50 billion funds will be allowed to enjoy the monies unhindered.

Again, I am just thinking aloud.

pak lah tau apa, pi meeting asyik dok tidoq jer.

pi function paklah 2,3 kali, tak pernah datang on time, asyik lewat jer

FireAce amd grpp

The son in law has the answer.

He is the gatekeeper of all information going to Pak Lah and screens all information o Ministers.

Meanwhile Najib as the DPM has on his mind how to get out of that mess in which his political confidante and bodyguards are being charged for the murder of the Monogolian model.

Meanwhile is acting likea foreign minister, most of the time overseas. I heard he is in Philippines right now. Just back from Turkey then Perth.... looks like the country is run by the son in law by default.

Do they care if the country goes to the dogs?

correction

Meanwhile PAK LAH is acting likea foreign minister, most of the time overseas. I heard he is in Philippines right now. Just back from Turkey then Perth.... looks like the country is run by the son in law by default.

I think all we will hear is "I will order a full investigation on the matter. Until that, I cannot comment more".....

Standard answer from Abdullah/Khairy's cabinet.

Scared/confused and ashamed at the same tome

This is an extremely serious development; if true, it shows how critical is our national cashflow; it also shows the absolute lack of transparency of badawi's administration. There can be no excuse for appointing a winding-up company of dubious background to solicit funding for something as big as the 9MP. It reeks of corruption of the highest magnitude.

Now we finally know what 'private finance initiative' is all about.

Don't let three things go- this one, the toll agreements, the mongolian case.

neil, out.

we are getting to such a serious stage that something need to be done, before we lose the country. will we become the next indonesia?? looks like we're heading that way now...

just wondering is there any way we can force a General Election now???

taiko_besar

This UMNO-led Govt is pawning the country.

Having front-companies reminds me of the film "The Godfather" except it is not the Don Corleone family but the BN family with UMNO as head of the family.

Folks

One reader on Malaysia Today wrote on ROLAND BLEYER, involved in this USD 50 billion scandal :

Re: To all victims of Roland Bleyer
By lardie on 10/8/2006 11:40:22 AM
E-mail: jeffer10@hushmail.com

This is a "heads up" to beware of Roland Frank BLEYER who hides behind several companies, one of which is Project Equity Services Group (PESG), whose address is Level 5, 44 Miller Street, North Sydney 2060 NSW, Australia and whose web site is http://www.projectequitygro... .

The receptionist is Bleyer's niece.

Even though they appear to be a large and financially-strong company, there are only 3 people (Robert Charles POWER, Ian James BARDEN and Ian Charles ROBINSON) who comprise the companies which front for Bleyer.

The names of the other companies Bleyer hides behind are:

Project EquityNominees (PEN)
Project Equity Trustees (PET)
MM Securities Australia Pty, Ltd
B&G Credit International (Singapore) Pte Ltd
Ryneye Pty Limited
Union Capital Pty
Needlegrove Investments Pty Limited

These blokes are claiming to have billions of dollars for project funding and to buy/sell Chinese cattle, Russian oil, Filipino gold, Nigerian refineries, etc.

After conducting due diligence on them over the past 60 days, I have concluded that these blokes have NO SUCH MONEY as they claim, and they have taken well over a million dollars from people as "advanced fees" for project funding, and have never performed as agreed.

I have names and coordinates of many of the victims, and I have the name and phone number of a Constable with the Queensland police who is aware of Mr. Bleyer's fraudulent schemes and the identities of some people who claim to be victims who have lost money to Bleyer and his band of thieves.

Here is a link to a web site that has been set up by a victim:

http://p101.ezboard.com/fbl...

Here is info about Bleyer:

http://p101.ezboard.com/fbl...

http://www.quatloos.com/Tax...

Here is more info about PESG:

http://english.vietnamnet.v...

This was first brought up by Raja Petra in his website, Malaysia Today on 13 January 2007.

http://malaysia-today.net/blog2006/corridors.php?itemid=1859

Here you can also see the letter of 15 June 2006. issued by Reezal Merican to Datuk Zamani, Deputy Governor of Bank Negara Malaysia, that he is under instructions of the Malaysian Prime Minister cum Finance Minister, Abdullah Ahmad Badawi. And the letter refers to the USD50 billion funding requirement to finance the RM200 billion Rancangan Malaysia Kesembilan (RMK9) or Ninth Malaysian Plan.

JEFF OOI says: The source you quoted was not the originating source. This much I want to say at the moment. One of the first I saw was October 22, 2006.

Smells fishy.
If true, we will need to see how deep the rabbit hole goes.
Then again, it could be a red herring.

At the recent UMNO Assembly, our PM told all the UMNO members that after 3 years of "cleaning up", the country has money to implement the 9MP.

If the above the true, then he owed apology to the UMNO members for the misrepresentation. He should have told them that "enough money have been borrowed" to fund the 9MP.

Unless he now say the media misquoted him.

very obvious they are taking us to the cleaners..

don't forget also if this news is true..a BIG CHUNK of the USD50billion will go to their own cronies...perhaps USD10 billion will masuk poket orang just like that. in the end, we malaysians will suffers. just look at what suharto did to indonesian. we don't have to look far...

just hope all these are not true. and really can't believe it when 9MP is being announced.. they have not enough fund.. what kind of people are governing us??

we are normal people who don't have all these abilities like them, that's why they are voted to look after us. HARAPKAN PAGAR, PAGAR MAKAN PADI.

I'm reallly worried that if we do not mind this government's financial moves, we may end up being in debt just like the Americans, reaching the trillions, spending money that is not ours.

If this move is true, and the government is not letting it out, then there goes the call for transparency, which was the main stance by Pak Lah.

Vote in the upcoming elections. Vote in credible people.

credible people? definitely not anyone from the BN coalition...pak lah, kating or semi value.. all are same shit, only different taste...

F*ck,... we are going to be screwed again.???

depends, taiko_besar. power corrupts. Terengganu showed how PAS has it's fallibilities as well, but it depends on the individual within the Opposition party as well.

Here is what I think :

1. Getting huge external loan is gambling(Errr, anyone taking the "religion" political correctness on this issue). A gamble on forex depreciation vs ringgit appreciation. But any economic expert can tell you, 3rd world country with weak financial ground always lose on the bet.(read the following point)

2. Whenever the country PAY the interest alone, it will create a near half billions forex outflow. The reason is obvious, the interest and capital repaying take up a huge portion of GDP. So huge that the export value can't neutralize the depreciation.

4. What are the country going to do with a sudden HUGE chunk of money without OVERHEATING the economy?

5. The "service commission" for such amount can easily run into few hundred millions US dollar (remember the "submarine rebates")

6. How are the country going to repay the interest fees?

what happened to billions of dollars earned by petronas ( with the recent oil price increase ), surely that will be enough to finance quite a substantial programs in the country.

Cum'on guys, how can an exercise involving so much money go unnoticed in the global / regional financial market? It doesnt take a genius to figure this out. Its good to read such "news" but with the internet, digest them with a pinch of salt...

well.. what can we do to stop it.

or are we just goona watch it and whine?