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Sumisha Naidu Profile picture
@sumishanaidu
May 24, 2018 • 7 tweets • 4 min read • Read on X
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What's behind Malaysia's RM1 trillion of liabilities?
• RM686.8bil of Federal Government Debt (50.8% of GDP)
• Government Guaranteees of RM199.1bil (14.6% of GDP)
• Lease payments of "Public Private Partnership" projects of RM201.4bil (14.9% of GDP)
"Let me emphasize that the fundamentals of the economy remains strong... Together with the commitment of the new Government as well as the support of Malaysians all over the country, we will definitely succeed in saving our country," - Finance Minister @guanenglim
"In the short term, this decision to tell the truth may unnerve Dato' Seri Najib Razak..." - Finance Minister hits back at former PM/ Finance Minister Najib
Finance Minister @guanenglim says important to speak truth to power, no matter the potential impact on markets. He said government has to be honest about state of finances.
Finance Minister @guanenglim says Malaysia will honour agreements and pay off debts owed by #1MDB, due next week.
JUST IN: Former Malaysian PM & Finance Minister @NajibRazak says he's glad current Finance Minister @guanenglim has "come clean" on Malaysia's actual debt.
Former PM Najib says:
• 50.8% figure is a "universally accepted measurement"
• 50.8% is "much lower" than the 103.4% reached during Dr M's time
• BN didn't hide any figures
• "Debacle has led to real losses to stock market investors and our GLICs"

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More from @sumishanaidu

Sumisha Naidu Profile picture
Sep 28, 2018
HAPPENING NOW: Malaysian PM Dr Mahathir Mohamad speaks at the #UNGA, 15 years after his last address.
“The new Government of Malaysia, recently empowered with a strong mandate from its people, is committed to ensure that every Malaysian has an equitable share in the prosperity and wealth of the nation.” - Dr Mahathir at #UNGA
“A new Malaysia emerged after the 14th General Election in May this year. Malaysians decided to change their government...We did this because the immediate past Government indulged in the politics of hatred, of racial and religious bigotry, as well as widespread corruption.”#UNGA
Read 17 tweets
Sumisha Naidu Profile picture
Sep 13, 2018
Special PC on #1MDB by Malaysia’s deputy inspector general of police. “This evening, I’m going to update you on the developments of the case as investigated by the police”. 4 aspects have been probed by the CCID and several individuals investigated.
Main areas probed by CCID:
• 1MTN notes worth RM5mil by Terengganu Islamic Authority
• #1MDB & PetroSaudi Intl joint venture & loans in form of Murabahah Notes
• purchase of assets worth USD3.5bil involving Tanjong Negeri
• issuing of US$3 bil notes by 1MDB Global Investments
During the course of investigations, police uncovered
• USD$972mil (RM2.973bil) was transferred to the accounts of former PM Najib Razak in 3 phases - “Good Star”, “Aabar” and “Tanore”
• 132 transactions involving illegal money identified
#1MDB
Read 7 tweets
Sumisha Naidu Profile picture
Jul 30, 2018
Today: "Every word recorded by the investigation team will be tabled in this report. We are committed to the transparency of this report. It will be tabled fully, without any editing, additions, or redactions”. #MH370
po.st/Syqpn8
#MH370: Families unsatisfied by the final report. “How can you expect us to believe what’s in there?”
“There’s no conclusion, there’s no answers”. #MH370
Read 33 tweets
Sumisha Naidu Profile picture
Jul 3, 2018
BREAKING: Former PM Najib Razak has been arrested in connection with investigations into #1MDB.
BREAKING: @NajibRazak to be charged on Wednesday morning, says the #1MDB special task force.
JUST IN: The #1MDB special task force confirms former PM Najib Razak's arrest at 2.35pm in connection with investigations into former #1MDB subsidiary, SRC International.
Read 114 tweets
Sumisha Naidu Profile picture
Jun 27, 2018
Former PM Najib Razak gave Malaysiakini an interview. Not only that, he went to their office to do it. A new Malaysia indeed.
Najib on his seized "gifts":

"Over the years as head of the government, we have been gifted with a lot of items by foreign leaders as well as personal friends and I do know that under the law it is not illegal to receive gifts."

m.malaysiakini.com/news/431
Najib said Rosmah herself was surprised about the number of items mentioned by Amar Singh.

“She doesn't believe it will come up to that amount. Also some items, the jewellers have got records that they were sent for viewing and need to be returned."
Read 9 tweets
Sumisha Naidu Profile picture
May 23, 2018
Malaysia's first Pakatan Harapan cabinet has its first meeting.

(Photos: Syed Fidaz/ Selangor Chief Minister's office)
In first post-Cabinet meeting PC, Dr Mahathir says they've studied ways to reduce government's debt which is in excess of RM1trillion.
Some projects committed to by the old government may be dropped, says Dr Mahathir.
Read 11 tweets

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