1MDB: Bullshit indicator needed!

Kuala Lumpur, 27/5/2015: 

The above screenshot was trying hard yesterday to pass off as the real thing (see below). The aim of this screenshot, I guess, was to inflict the "Oh dear" effect on people, especially those who don't believe that things are as bad as some have painted about 1MDB. It's effective but ONLY if you are hopelessly gullible or/and because you wish those things about 1MDB to be real bad so you can bring down Najib Razak. 

This is the real thing (you're welcomed, TMI):

The original report in TMI

Some people and I checked first and we can tell you without malice that the Bank Negara governor DID NOT SAY what the first screenshot claimed she'd said. Not that, to me, is malicious. Enemies of the 1MDB can crap on 1MDB but to try and implicate the BNM governor is unacceptable.

This is the Bernama report via Malaysian Digest:

1MDB: Bank Negara Confirms Receiving Singapore Counterparts Report

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Details

 

Published on Tuesday, 26 May 2015 14:56

0 Comments

Pic:BernamaKUALA LUMPUR: Bank Negara Malaysia (BNM) today confirmed receiving a report on 1Malaysia Development Bhd (1MDB) from the Monetary Authority of Singapore (MAS).

"They have announced sending the report to us. Yes, we did receive it," BNM Governor Tan Sri Dr Zeti Akhtar Aziz, said here today.

She was responding to a question on whether BNM had received the MAS report on 1MDB, particularly in relation to BSI Singapore.

Zeti said this at a press conference on the release of the Labuan Financial Services Authority (FSA) Annual Report 2014 here today.

It was earlier reported that MAS was in touch with Malaysia's regulators over investigations into 1MDB.

According to the report, MAS has also said that it was fully committed to assisting within the full ambit of its laws.

"The information will be extended to other agencies under Malaysia's jurisdiction," Zeti said, adding, the findings were highly confidential.

Asked if MAS had notified BNM that there was no cash being held by 1MDB in BSI Bank Singapore as alleged, she said: "We can’t comment on an individual entity.

"I have already stated that the international community will not cooperate with us if we release the information extended. Therefore, it will stop all investigations if we talk about it."

She said the arrangement is to maintain confidentiality.

To another query on whether 1MDB's loan default could possibly threaten Malaysia's banking system, Zeti said in general, when any entity took a loan from banks here exceeding RM2 billion, they would be on the watch list of the central bank to assess any systemic risk to the banking system.

Stress tests are regularly conducted and so far, banks in Malaysia have proven to be well-capitalised and financially sound, she reiterated.

- Bernama

So, Dear Readers, while there are a lot of crap going on in our corpoate world, perhaps more so than before, although there were lots before, I suggest we put on out bullshit indicator to detect a whole lotta crap that's being dished out on the Internet.

Another recent example is the write-up alleging the 1MDB top execs of snubbing the PAC. Turned out that 1MDB got the "invite" just a few days ago, NOT weeks earlier. You and I know the intention. Good thing Mr Arul Kanda didn' t take weeks to respond to the latest crap:

Media statement by Arul Kanda, 1MDBPresident and Group Executive Director

Issued on 26 May 2015

For immediate publication 

Invitation for appearance before PAC

“Contrary to recent press reports and statements by certain individuals, we wish to clarify that it was only on 21 May 2015 that 1MDB received a letter from the Ministry of Finance, appending an invitation sent by the PAC.

This invitation, which was addressed to the Ministry of Finance, requested an appearance by the company before the committee on 26 May 2015.

Upon receiving this letter, 1MDB responded to the Ministry of Finance on21 May 2015, the same day the company received the invitation.

As confirmed by YB Nur Jazlan, Chairman of the PAC, the date for this appearance is currently being finalised, due to the date proposed earlier being in conflict with previously scheduled overseas commitments.

We once again reiterate our intention to extend our full cooperation to the PAC and both Arul Kanda and Datuk Shahrol Halmi look forward to appearing before the committee and having the opportunity to clarify 1MDB's position.”