Friday, March 13, 2015

Najib probably is catching a whiff something is wrong at 1MDB

From Astro Awani on March 5:

According to a statement from the Prime Minister's Office today, the Auditor-General's report would be passed for transparent inspection to the Public Accounts Committee, which is fully bipartisan and reflects Parliament's composition. 

It said the prime minister had informed the Cabinet of the move.

"If any wrongdoing is proven, the law will be enforced without exception," Najib said in the statement.

 Just to read between the lines, Najib has given himself an out with the last statement over the 1MDB audit.  Najib could have worded it a little bit better by saying he's sure nothing is wrong, but instead he is taking the role of an enforcer here and not saying anything that indicates 1MDB is problem free.

Distancing himself from the toxic fiasco is probably the first step.  I really won't be surprised if 1MDB now turns out to be a sham.  Already the Ministry of Finance says the entity is indebted with a net gearing of 17x!


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