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Ride The Bull Short The Bear
CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by supermix2 > 2016-04-12 04:12 | Report Abuse
END OF THE ROAD FOR NAJIB, ROSMAH & SON: DEADLY DEVELOPMENT IN ABU DHABI MAY FORCE CHANGE OF PM IN M'SIA Full article: http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=613634%3Aend-of-the-road-deadly-development-in-abu-dhabi-for-najib&Itemid=2#ixzz45YC3XyIa Follow us: @MsiaChronicle on Twitter One wonders how the BN controlled media will report this latest development in Abu Dhabi? “Emirates confirm 1MDB did nothing wrong”? Or, perhaps, “Najib cleared by Abu Dhabi”! Because, today’s clear announcement by the normally taciturn Arab state has nailed the lies from 1MDB and all its hierarchy of bosses from Najib down. The sovereign wealth fund Aabar/IPIC, to which a staggering US$3.51 billion dollars was allegedly sent in 2012, under the guise of fulfilling ‘state to state’ obligations (relating to a US$3.51 billion loan), has denied in a formal statement that it ever received any such money. This vast sum, guaranteed by the Malaysian taxpayer, was sent to a completely different entity, IPIC has today confirmed to the London Stock Exchange. Aabar Investments PJS Limited (BVI) has no relationship to its own subsidiary Aabar Investments PJS in Abu Dhabi. So, why do we think that 1MDB Chief Executive Arul Kanda has spent months refusing to provide the company’s foreign bank statements to the Auditor General and Parliamentary Accounts Committee? And why do we think that Najib’s hand-picked new Attorney General has been refusing permission to Malaysian investigators to make enquiries abroad about the 1MDB money trail? Hunt for scapegoats begins 1MDB’s executive have plainly decided to start blaming rather than owning up! They have immediately issued their own press release insinuating that somehow it is the Abu Dhabi wealth fund which is lying and at fault! Wow! Full marks for sheer brass neck. So 1MDB has now suddenly admitted it has ‘documents’ for the Aabar BVI company after all, even though it had refused to produce them to the PAC or Auditor General. If these are not genuine, the statement insinuates that the named former Chairmen and CEO are to blame, because 1MDB conducted its ‘legal agreements’ with them. Al Husseiny (left) and Khadem (2nd left) once heroes from Abu Dhabi, now the villains of the piece, according to 1MDB? Al Husseiny (left) and Khadem (2nd left) once heroes from Abu Dhabi, now the villains of the piece, according to 1MDB? So, that’s OK then – Najib has been ‘cleared’ and the cheats were Khadem and Al Husseiny, who took more money than 1MDB borrowed from these loans deals, without the 1MDB boss turning a hair. It is, of course, an obvious target for 1MDB to blame these two former executives of Aabar/IPIC. Both have now been sacked and detained by the Emirate authorities, with an extradition request pending over Al Husseiny, an American citizen, from the United States. So, put all the blame on them. If things get trickier then there is always ex-1MDB boss Sirul Halmi (excuse typo) still a sitting duck in KL, who can be blamed for allowing it all to happen. It is, of course, a desperate ploy from 1MDB, who in taking this tactic will have finally severed all good will with the Abu Dhabi fund, which is due next month to recoup a US$3 billion bail out extended by Al Husseiny to 1MDB last year – in one of his last actions before he was sacked. There will be little chance of further assistance now that Najib has well and truly lost all his friends in Abu Dhabi. And what must their neighbours in Saudi Arabia also be thinking, given the similar set of claims 1MDB made over PetroSaudi? Why Najib can’t escape The ultimate problem is that all this lying and abuse of power in Malaysia, which is based on a local misconception that Najib is ‘all-powerful’ and ‘untouchable’, cannot cover up the international money trail, which has started to emerge. The money trail from Aabar Investments PJS Limited to Najib's step-son Riza Aziz The money trail from Aabar Investments PJS Limited to Najib’s step-son Riza Aziz at Red Granite Aabar /IPIC did not own Aabar Investments PJS Limited, but as 1MDB have effectively confirmed, this company was set up by its Chairman Khadem Al Qubaisi and CEO Mohamed Al Husseiny in the BVI. One of the payments received through this company was a whopping US$150 million to Red Granite Capital, reports the Wall Street Journal, who have been snooping round Hollywood. Riza, partner Joey McFarland and Joe Low Riza, partner Joey McFarland and Joe Low Riza had himself promoted an announcement by Al Husseiny back in 2014 claiming he personally had funded Red Granite Films, including Wolf of Wall Street. ....continue next