This was written by Ms Lim Sian See:
The PakaTun Chief Dedak Blogger, OutSyed the Box who deletes his posts within one or two days because he is scared of saman fitnah, has just written an article saying that MOF will be made bankrupt by a UK court in London on 11 JULAI 2016 (Raya Ke 5).
This view is of course shared by the Pentaksub Tuns such as my FB friend Blue Ocean Mohd Hanizam Bin Yunus’s post which has got many shares and likes.
But of course these are all tipu by the above people unable to accept defeat in the recent by-elections.
Firstly, this is related to an arbitration request made by Aabar to 1MDB to decide who is right or wrong in the London Court of International Arbitration (LCIA).
The LCIA is not actually a real court but non-for-profit company that is used as a service to solve disputes – normally between companies in different countries or between countries themselves.
This LCIA has NO jurisdictions and the result is NON-BINDING and the court CANNOT ENFORCE its decisions.
So, how does LCIA have the authority to declare the ministry of Finance as “bankrupt”?
This is not the International Court of Justice (ICJ), which doesn;t hear business disputes anyway. But the penipu PakaTuns probably confused this with the LCIA.
Secondly, this is USD6.5b or RM26b. Our current govt debt and GDP is certainly bigger than that. It is just 2.6% of our GDP, so how can MOF be made bankrupt?
Another way to look at this is that your annual salary is RM100,000 every year, does it make sense that you get declared bankrupt over a dispute involving RM2,600?
Thirdly, the July 11 date is the date for 1MDB to file it’s reply. It is not even decision date. Arbitration can take years and 1MDB believes it has a solid case – which is why it refuses to pay the interest on the bonds which led to this arbitration even though it had the money to do so.
So, how can July 11 be the date when MOF is declared bankrupt when it is just the date to file its response before the case actually starts being heard – which could take years?
Fourthly. this amount of RM26b or USD6.5b is made out of:
– USD3.5b (being the bonds in dispute – which is already part of the very misleading RM42b or RM55b that PakaTUN people like to use.),
– USD1.5b is for future interest of these bonds
– USD500m for the remainder of the Aabar options that 1MDB said it has paid but IPIC said no.
– USD1 billion, which is for the return of the money already paid by IPIC to 1MDB last June.
Therefore, the above amount is nothing new and with this dispute, 1MDB also does not need to pass over the financial assets that it intended to swap with IPIC and can thus liquidate or redeem them later.
Again, it is clear that the PakaTun penipus continue to take advantage of their followers ignorance with propaganda lies such as this – despite knowing that majority of Malaysians already reject your much repeated fairy-tales as shown in the recent Sarawak elections and the two by-elections.
I have full confidence that Arul Kanda, our MOF and 1MDB knows what they are doing and will resolve this irritation soon.
In the meantime, I challenge Hanizam, OutSyed and the rest of the PakaTun this:
If MOF is not declared Bankrupt by 11 July 2016 or even 11 Aug 2016, you must all make a public apology for your fitnah during Ramadan and quit writing forever.
In return, if MOF is indeed declared bankrupt on those two days, I will reveal my public ID, make a public apology and kow-tow to both of you and quit writing forever.
Do we have a deal?