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Saturday, 28 November 2015

Helping Tun M understand the RM17b 1MDB-Edra sale

I thought I would help Tun Mahathir answer his questions in his blog post today "1MDB EXITS POWER BUSINESS".

I would understand why Tun M would be confused why Tun M would be confused because just 5 months ago, he had also written in the same blog: 'Who would want to own overpriced and obviously unprofitable power plant? and "had 1MDB waited until the licenses expired, the price would be next to nothing.'

Therefore I can imagine Tun M's shock when he found out that more than a few bidders were willing to bid RM17.3 billion for these very power plants that others have called 'worthless' and 'scrap metal'. And one company even signed to buy them too. 

But before I finished wiring this, 1MDB has already issued an official press statement to also help Tun M answer his "genuine" queries. Better you read the official reasons than read from tme.

Media statement by 1Malaysia Development Berhad - Issued on 29 November 2015
Sale of Edra: Clarification on false allegations by Tun Dr Mahathir
1MDB refers to a blog post relating to the sale of Edra by YABhg Tun Dr Mahathir Mohamad, a retired and former politician, who has failed in his numerous attempts to politicise the 1MDB issue. We regret that Tun Mahathir persists in issuing misleading and wrong statements on 1MDB, which is then reported in an irresponsible manner, without analysis or journalistic enquiry, by certain online media portals.

Through the sale of Edra to CGN Group, based on Edra 31.03.2015 financial statements, 1MDB will receive for its equity, cash of RM9.83 billion. In addition, CGN Group will take over debt in the Edra operating assets of RM7.43 billion. Accordingly, through cash receipts and debt transfer, 1MDB will achieve debt reduction of up to RM17 billion, which is well within the anticipated RM16 billion to RM18 billion range per the rationalisation plan. Arul Kanda, the President and Group Executive Director of 1MDB, has clearly explained these facts, which were reported in the media last week.
LSS: For clarity, 1MDB did not pay RM18b cash to buy all the IPPs. 1MDB paid RM12.05 billion (RM8.5b for Ananda Krishnan's Powertek, RM2.35 billion for Genting and RM1.2 billion for Jimah) and assumed RM4.92 billion of legacy debts - making the total purchase value to be RM16.97 billion.
Therefore, the current propaganda of 1MDB buying at RM18b and selling for RM9.83b is WRONG!
It is important to clarify that the up to RM17 billion debt reduction is over and above the approx. RM2 billion cash dividends that 1MDB has received over time from the power assets during its ownership. Accordingly, 1MDB has essentially "broke even" on its investment, through an international tender process, despite having to sell its assets whilst under sustained and misleading attacks from the opposition and Tun Mahathir himself.

If Tun Mahathir took the trouble to review Note 29 (v) of 1MDB's 31.03.2014 publicly available audited financial statements, he would realise that of the RM42 billion 1MDB debt, RM19.82 billion of debt is denominated in Ringgit Malaysia and RM22 billion is denominated in USD.  Accordingly there is more than enough RM denominated debt to be settled from the RM9.83 billion Edra sale cash proceeds.

As for the USD debt which so concerns Tun Mahathir, per the binding term sheet executed with IPIC on 28 May 2015, it is the intention of 1MDB that USD3.5 billion of IPIC guaranteed bonds will be settled via a "debt-for-asset swap" with IPIC. This envisages 1MDB transferring to IPIC, 1MDB assets comprising USD denominated cash deposits and USD denominated fund units, in return for IPIC taking over the USD3.5 billion of bonds that it has guaranteed.

LSS: Basically, this means that 1MDB had long ago "hedged" their foreign currency exposure by keeping assets in USD to match the USD debts. As a matter of fact, if 1MDB had succumbed to political pressure by Rafizi Ramli and Tony Pua when they started attacking this 1MDB just before GE13 in 2013 to bring back the USD2.32b Cayman funds back to Malaysia, it would have resulted in big realised FOREX losses to the tune of RM3 billion when 1MDB had to settle the 10 year bonds and the interest costs and had to convert back to USD.
2013 USD1=RM2.96 hence USD2.32b = RM6.86 billion
Now: USD1=RM4.25 hence USD2.32b = RM9.86 billion
Would Rafizi and Tony Pua compensate 1MDB for this RM3 billion loss if 1MDB had listened to them then?
Tun Mahathir has also misled his blog readers by failing to mention that the IPP tariff for the Edra assets are fixed for the life of the PPA (power purchase agreement) period. On average across all the Edra power plants, this is for the next 10 years. So, there is no question of the IPP tariff being increased for the life of the PPA, despite the change of ownership.

Tun Mahathir has repeatedly misled the public with false statements. Most infamously, he is on the record as saying "RM42 billion hilang" ("RM 42 billion missing") from 1MDB. The sale of the Edra operating assets, with a debt reduction of up to RM 17 billion, clearly shows how Tun Mahathir was and continues to be, wrong. Secondly, Tun Mahathir has repeatedly insinuated that RM2.6 billion in the accounts of Prime Minister YAB Dato' Sri Najib Tun Razak was from 1MDB. This is despite the MACC publicly issuing three statements that no funds from 1MDB went into the accounts of Dato' Sri Najib.

1MDB requests that Tun Mahathir uses facts and figures in his arguments and to stop his misleading and wrong political attacks on 1MDB. We further urge the online news media to also properly analyse and use critical analysis prior to publishing such wrong and misleading statements by this retired, former politician.

There you have it. Tun M's questions about the Edra sale is well and comprehensively answered by 1MDB.

To be fair, Tun M's track record and understanding of the Independent Power Plant (IPP) concessions agreements has not been good - which explains those heavily lopsided IPP concessions during Tun M's time.

Opposition had attacked the government on these lop-sided agreements for years and accused it of losing hundreds of billions over the past two decades from Tenaga and from Malaysians who pay electricity bills  - including RM19 billion in gas subsidies yearly.

I am sure you have seen the above picture (and variations of it) as it had been widely spread in the past. Opposition have always accused Mahathir's IPP crony;'s to be the gang of four-  Ananda Krishnan, Genting, YTL and Syed Mokhtar.

Since 2011, Najib had made sure that 1MDB bought out Ananda Krishnan and Genting - so we can cross out those names.

And later in 2012, the government also did away with Mahathir era direct negotiations for IPP power purchase agreements and went full open tender.

The result of the open tender was that YTL's concession was not renewed while ALL power rates are now in low-single digit internal rate of returns compared to the high double digit returns of the Tun M's past - this also eliminated Syed Mokhtar's Malakoff's lucrative agreements of the past.

Due to Najib Government's efforts, that picture above you see is now history.

As a matter of fact, Tun M is not very good in understanding concession agreements of any sorts - including toll agreements and not just the IPP ones.

This was finally revealed by Tun M in Jan 2007 when he said:
"Acknowledging that the government during his time may have erred in signing the toll concession agreements, Tun Mahathir urged the present government to be more careful before agreeing to toll hikes.

"This is one of thing that we need to correct. What you have is a cabinet which is not very knowledgeable all the time because it is not made up of experts but politicians (and) some politicians like myself can sometimes be stupid," he said when told by reporters that all the five tolled expressways were constructed during his 22-year tenure as prime minister.

Mahathir said the agreements were drafted by officers and submitted to the cabinet and usually the small prints are not there.

"The cabinet merely gave approvals in principle and never really studied the implications in some parts of the agreements."
 Like what Tun M said above, he and his Cabinet members then were "stupid" (Tun M said himself, not me) and did not read the toll concession agreements properly before signing then.

Tun had then advised his predecessor governments to not to be like him and be more careful in signing future concession agreements.

However, Tun M did not comment how the present government should resolve the bad agreements he had signed before though as government cannot simply break agreements without paying compensation.

In October 2010, Najib had instructed Khazanah to buy back Malaysia's largest toll operator PLUS Highways from the private cronys and now PLUS is 51% owned by MOF and 49% owned by EPF - hence any toll concessions goes back to the govt and rakyat instead of to private hands.

And with this purchase, the govt was able to re-negotiate and prevent toll price increase without having to pay compensation - hence stopping toll prices to be increased for those PLUS highways.

Although the biggest and most lop-sided one was solved by Najib but there are still more than a dozen toll highway operators - many with lop-sided terms - that are still not resolved yet - thanks to Tun M and his cabinet's "stupidity" in not understanding the toll concession agreements or reading it fully before signing them.

As to Tun M's question of China "bailing out" 1MDB by buying Edra, the country that so-called "bailed" out 1MDB's Edra is also the same country that bailed out Tun M's Perwaja Steel.

Nobody ever complained when our "strategic sector" National Steel company got bailed out by China just 4 months ago in July also.

Tun Mahathir also said nothing then.

Or you mean steel is not a strategic sector also? If not strategic then why spend more than ten billions of ringgit building it and  keep on bailing it out time after time?

In Edra's case, at least govt got back all or most of its money.

In Perwaja case, all the ten billion all habuk pun takde- never to be recovered.

If 1MDB doesn't sell, you say 1MDB's debt too much and RM42b lesap,
If 1MDB sell, you will complain why sell profitable and cash-flow generating assets,
If 1MDB sell at low price, you will say 1MDB is stupid and lose a lot of money,
If 1MDB sell at high price, you will say "what's the catch?",
If 1MDB sell to a local government company, you will say it is a bail-out,
If 1MDB sell to foreigners, you will say "jual negara",
To avoid such complaints in future, perhaps Tun M, Rafizi and Tony Pua should clearly announce whether to sell or not, sell at what price and sell to whom - perhaps sell back to Genting, YTL or Ananda Krishnan.

Then 1MDB should just follow instructions and do what the tell you instead of doing something stupid like what you did now - which is maximising the value of your assets via international open tender.

Actually, if Tun M was still the prime minister, we would not be talking about whether 1MDB made money, lose money or broke-even on Edra.. Based on his past track-record, if Tun M was still PM, the Edra IPPs will all have mega-long concession period, all high double digit IRRs with highest power rates (instead of lowest bid for each and ever IPP tender that Edra had bid on since taken over in 2011) and take or pay formula with super-subsidized gas supply - just like before.

Edra would easily be worth RM30-40b instead. 

Tuesday, 24 November 2015

Jualan 1MDB Edra: Tuduhan dan jawapan

TUDUHAN: Berniaga buluh kasap ..beli mahal jual murah.. masuk angin keluar asap.
Hari ini secara rasmi nya 1MDB menjual Edra Energy dengan harga RM9.83 billion kepada CNG ( China Nuclear Power Corporation).

Harga belian kesemua Energy assets tersebut adalah RM12 billion (termasuk goodwill RM2billion) .

Kerugian membeli mahal menjual murah saja sudah lebih RM2 billion
Ini bermakna goodwill yang dibayar oleh 1MDB dulu langsung tiada bernilai..sudah jadi badwill.
LSS: When 1MDB sold it to CGB for RM9.83b, CGN also assumed debt of RM8b - giving a value of RM17,83b.
And the reason why RM12b became RM9.83b is this: IPPs, like any concession business has a life - and when the life-span is shorter, the value is lower - but money and profits came out to pay for interest and also profits to the holding company.
Meaning - while 1MDB also had to pay for the interest costs for acquiring the power plants, people forget that these power plants were all profitable and generating positive cash-flow which paid for the interests with some profits too.
TUDUHAN: Kerugian ke 2 pula adalah dari segi cost membeli di mana 1MDB telah membayar RM5 billion kepada sebagai cost and fees of financing. Jumlah ini belum di campur option termination fees kepada IPIC sebanyak USD1 billion barangkali.. so takpa lah kita ambil RM5 billion lah kita congak boleh?

LSS: Since Edra did not go IPO, the "options termination fees" are now superseded by the June 2015 binding agreement between IPIC and 1MDB - maksud tak laku lagi. Tidak timbul topic ini lagi.
Bagaimana kamu dapat RM5 billion cost of finance, aku pun tak tahu tetapi hang juga lupa IPP juga ada keuntungan setiap tahun dan dividennya.
TUDUHAN: Kerugian ke 3 pula ialah semasa beli jumlah pinjaman Assets tersebut ialah RM6 billion. Nilai sekarang ialah RM8billion. Ini beza sebanyak 2 billion. Oleh kerana CNG akan assume semua pinjaman ini, kalau pinjaman tidak berubah RM2 billion itu boleh menjadi cash kepada 1MDB.
LSS: Bagaimana pinjaman boleh tukar menjadi cash? Ini pelik.
Kalau Mahathir dan Tony Pua tak kacau sangat, mungkin tahun depan boleh IPO dan dapatkan harga lebih baik sehingga harga 20% lebih dari RM18b.
Harga IPO sememangnya lebih tinggi dari harga jual terus.
Kalau nak pastikan harga lebih tinggi pada IPO lagi, senang je. Kerajaan tambah-baik lagi konsesi kepada IPP2 itu - kadar PPA lebih tinggi, tempoh PPA lebih panjang. Buatlah macam Mahathir buat dulu. Rakyat yang tanggung berdekad-dekad aje. Tetapi Najib tak sejahat Mahathir dan tak buat macam ini.
Kesimpulannya, 1MDB beli IPP2 itu RM18b dan jual RM17.83b + untung IPP selama 3 tahun.
Ada Masalah? Tak rugi banyak-pun.
Bukan jual pada harga kosong buruk besi yang selalunya dituduh oleh Mahathir dan Tony Pua.
TUDUHAN: Kerugian ke 4:
Kita menjual strategic assets negara kepada Syarikat asing !
Kesimpulan dari segi tunai 1MDB rugi RM9 billion dari segi jual murah 2 billion, cost of financing 5 billion , penambahan loan 2 billion.

Dari segi strategi assets dijual kepada syarikat asing , ini tidak ternilai ! TNB should have been awarded instead CNG.

Ada apa yang saya tertinggal atau silap? Sila betulkan.

Ok lah lets be fair and add some income from IPPs selama ini.. Tak banyak pun. Sesiapa ada figure bagi lah kita boleh tolak.
LSS: Hang kata income dari 13 IPP tak banyak pun? income IPP tak banyak sampai TNB sanggup bayar RM16 bilion (8b cash+8b hutang) dan syarikat Cina sanggup bayar RM18b ((10b cash+8b hutang)?
income IPP tak banyak? Biar betul. Cuba tanya kroni2 IPP Tun M YTL, Ananda dan sebagainya. 
TUDUHAN Kerana ini jugalah kita awal awal sudah bising tentang mismanagement dan entah apa apa lagi yang berlaku dalam 1MDB sehingga akhirnya terpaksa menjual assets dengan harga murah dan kepada syarikat asing.
p.s. tak payah ceritalah tentang pembelian assets ini utk turunkan tariff letrik..nampak dangkal sangat.
LSS: Kalau 1MDB tak beli dari Ananda Krishna, 8 IPP itu sudah lama dijual kepada orang asing. Negara2 lain termasuk Indonesia, Singapore, India, Australia semuanya membolehkan sektor penjanaan elektrik dibeli oleh orang asing, Malaysia tak boleh pulak?
Hang nak pelaburan asing masuk ke Malaysia atau tidak? Pelabur asing lari, Ringgit jatuh - hang meroyan. Pelabur asing masuk sekarang untuk mengukuhkan matawang, hang kata jual negara. Apa ini? 
Lagipun, market-share Edra di Malaysia tak banyak pun - hanya 14% - yang lain ialah TNB dan Malakof milik Syed Mokhtar.
Kalau TNB nak beli, tawarlah harga yang berpatutan. Mengapa kerajaan nak rugi RM2b jual kepada TNB yang 50% sahamnya milik orang swasta?
Yang 1MDB selalunya menawarkan harga termurah bagi setiap tender kadar elektrik kepada TNB itu tidak mahu cerita? Kerana harga yang ditawar termurah, 1MDB untung kurang tetapi siapa yang untung lebih? Rakyat dan TNB.
Walaupun kadar elektrik ada naik tahun 2014 oleh kerana subsidi gas kepada IPP telah dikurangkan. Tetapi, yang untungnya ialah Petronas.
kadar elektrik turun bulan Mac 2015 tak nak cakap pula?
TUDUHAN: Kalau macam ni punya assets rationalisation (read jual harta) takperlu lah ambil grad LSE jadi CEO bayar gaji mahal2 ..
LSS: Ialah. Lebih baik asset bagi balik kepada kroni Tun M aje macam dulu. Semua happy.

Monday, 23 November 2015

The Shameful 43 votes

Chedet's blog post yesterday titled "Menghadapi Cabaran", was full of shameless hypocrisy. 

He is essentially accusing PM Najib of not being brave enough to face challenges in next month's UMNO party general assembly - claiming that certain topics were not allowed to be debated and there is no party elections - despite Chedet earlier saying that postponing of party elections to after the General Election is a normal thing as he himself has done it before.

Just 5 months ago, it was reported by all the major news agencies:
"Former premier Dr Mahathir Mohamad chose not to criticise the decision to put off the Umno elections scheduled for next year for 18 months. 
It is a normal action and has been done previously, he said in Alor Setar.
"I have also postponed an Umno election. I postponed it because of internal turmoil, problems and splits,"
By whacking Najib, Tun M tried to "claim" his bravery stating he allowed the 1987 party elections to be held by shamelessly saying 
"I won by only 43 votes. I accepted. Events that occurred after that are well known and do not need me to repeat here."
What a farce. How shameless of him to bring up this 43 votes issue and think it is a matter of pride or bravery for him. Tun M did not want to repeat those events, so let me fill you in on what those events that he did not want (or did not dare) to repeat were.

In April 1987, UMNO held its party election where Mahathir's Team A was challenged by Tengku Razaleigh (Ku Li)'s Team B where a total of 1,500 delegates voted.

Ku Li and his team was expected to win (1985 and 1986 was a bad recession) but after a Blackout in the vote counting room, it was announced that Mahathir won with 761 votes to Ku Li's 718 votes - a margin of 43 votes only - meaning if 22 person switched their votes, Mahathir would have lost.

But worse is that Ku Li's team alleged that 78 of the delegates had been selected by 30 branches not registered with the Registrar of Societies, and as a result were not eligible to vote. They also claimed that certain documents related to the election had been "tampered with".

Ku Li's team hence challenged the result in the High Court where much of the evidence given by Ku Li's team was not contested by Mahathir's team.

However, Mahathir refused to hold fresh party elections (perhaps knowing that if fresh elections were held without those unregistered branches, he would have lost his razor thin margin of just 22 swing voters out of 1500) and hence the High Court declared UMNO as an unlawful party- therefore voiding the 1987 party elections.

This unfavorable (to Mahathir) court decision was a main driver which made Mahathir destroy the judicial system next year - leading to the shameful suspension of the Lord President (allegedly on the lame excuse that he complained about the Agong's renovations - since disputed by the late Agong's son who whacked Tun M for using the name of a dead man who cannot defend himself) and all the Supreme Court judges - forever tainting our judicial independence.

Mahathir then formed UMNO Baru and transferred all the now unlawful party assets and the members friendly to him to UMNO Baru leaving out Ku Li and his team from joining.

And to avoid him ever being challenged again for presidency, Tun M decided to change the way the party elections are determined under his new UMNO Baru.

Dodgy systems such as Bonus Votes and Quota Systems - more suited to Multi-Level-Marketing MLM schemes rather than to political party elections - were introduced. Using the excuse to of preventing “fake nominations”, Tun M then introduced the bonus-votes system in which 10 bonus votes would be automatically added to those contesting for party president (himself !!) for every nomination they receive. Definitely during the nominations stage, division leaders will be pressured to nominate the incumbent - hence this system essentially guarantees a win for the incumbent. Obviously this flaky bonus-vote system was not democratic. Thus, UMNO abolished this in 1998 and replaced it with an equally iffy quota system. This quota system requires those contesting for president to receive at least 30% of all divisions nominations BEFORE they even have the right to contest. This means that you require at least 63 divisions (out of 210 divisions then) to officially nominate you before you even qualify to challenge the president. Essentially if you wanted to challenge the president, your fate depended on just 210 division heads that the President could easily control. Chances were not that good and in fact close to zero, of course since you will not even get enough nominations to even qualify to challenge the president . In essence, the "Bonus votes" and "Quota system" were cowardly undemocratic systems put in place by Tun M to prevent any challenge to him.

And it worked, of course. From 1988 until he retired, Tun M never had to face a party election. However, Najib did not wish to hide behind the quota system and scrapped it in Oct 2009 - meaning that anyone who received a nomination from any division can challenge for any post within UMNO. Also in an effort to curb money politics, Najib increased the number of people qualified to vote from just 2,500 to 146,500 UMNO members. Compared to the nomination and quota system previously which depended on just 210 persons to determine who can be President, trying to control and buy votes from 146,500 people is much much harder. Najib was brave enough to transform the party and also democratic enough to put the fate of his PM and party president position in the hands of 146,500 party members - which he did in the 2013 UMNO party elections. Even though Najib won unchallenged in the 2013 UMNO elections, he was unchallenged not because challengers were prevented by the previous unfair system to challenge him - but simply because others were afraid to challenge him then.

At that time, Ku Li thought about challenging Najib for a while but then gave up and decided not to pursue the idea at all. 

In September 2013, this was reported.
"Umno veteran Tengku Razaleigh Hamzah remained coy about challenging Datuk Seri Najib Razak for the party's presidency, despite mounting speculation that he will do so at the party's polls next month.  
Despite repeated questions, the Kelantan prince refused to commit, telling reporters to wait for nomination day on September 28 (2013).  
"But maybe I won't be in the country, I don't know yet. I haven't decided, that's the bottom line," he said at a press conference at his residence today."
 And there you have it.

Using the events that Tun M said he did not want to bother to repeat, please judge for yourself who is the brave one and who is the coward and hypocrite.

Saturday, 21 November 2015

We "expose" Najib's Mystery RM2.6b Donor yet again.

Actually, those who believe those accusations that RM42 billion has been stolen from 1MDB of which RM2.6 billion was put into Najib's account has had this "answer" for almost two months now  - including who the exact donor is, who he is and where he is from.

Which is why I find it strange that this news was never highlighted by any of the Pakatan leaders nor even the independent media portals at all even though this news is now coming up to two months old and is the talk of the town for many months.

It is as if Tun Mahathir, Pakatan and the independent media portals do not want people to know. How strange is that?

Just like the Oct 2014 news of the PKR Sabah Deputy Chairperson and ADUN who was found guilty of collaborating with her own staff to cheat 819 poor land-owners and ordered by the High court to pay RM557 million in damages - making it the highest court awarded damages ever in history in Malaysia.  Strangely, most Malaysians are still not aware of this record-shattering case - mainly because the "independent media" such as MalaysiaKini nor Malaysian Insider nor the Pakatan political leaders dared not mention this.

Anyway, enough ranting about selective reporting and propaganda that makes fools out of their supporters allowing them to be used and abused to even believe 40k Bangladeshi stories, let's get back to the subject.

On 6th Oct 2015, the Sarawak Report blog carried a post that revealed the name of this mysterious donor.

Sarawak Report can exclusively reveal the alleged identity of ‘His Highness’ the ‘royal donor’, which was given to AmBank as the source of several payments, including the US$681 million received into Najib’s account just before the last election. 
The name given was ‘His Highness Saud Abdulaziz Majid al-Saud’. 
We have ascertained that this identity was first provided to explain an original payment of US$100 million, which was passed into Najib’s AmPrivate Banking account in Kuala Lumpur back in February 2011. 
The bank had required details of the sender from the agent who was managing the transfer on behalf of the Prime Minister and a letter was purportedly then sent from the office of this individual to the bank. 
Our sources tell us that this letter, which has been retained by the bank, was sparse on details but alleged to be from the ‘Private Office of Saud Abdulaziz Majid al-Saud’, without giving an address or telephone number. 
The letter was signed by ‘Saud Abdulaziz al-Saud’.
Sarawak Report based their "exposure" on the 4 letters that BNM and MACC has seized from the banks - confidential banking documents which again somehow landed in Sarawak Report's hands.

It is worth noting that MACC had issued a statement to also say this mysterious donor has already been interviewed too.

It appears during that time, Sarawak Report had believed that the government was going to reveal the name of the donor soon and had wanted to pre-empt the release by first discrediting that the donor do not have that sort of money to give to Najib and UMNO.

It is strange that independent media and certain politicians would have no hesitation in quoting whatever accusations from Sarawak Report but when it came to this particular post, all went quiet.

Of course I have no way of confirming whether that is indeed the name of the donor in the BNM and MACC bank documents - but by right, if you believe all of Sarawak Report's allegations then you should also believe this one.

The person even has an English FaceBook page called "HRH Prince Abdulaziz bin Majed bin Abdulaziz Al Saud, Governor of Medina" created way back in the year 2010 - which was not very popular in non-English speaking Saudi Arabia but you can you can look at more of his photos. 

And if you can understand Arabic, please do tell me what those Arabic comments in his FB page says.

You can also get confirmation about this confirmation from the news article here.

So, the mysterious donor turns out to be royalty of great importance (no one would be appointed Governor of a province in Saudi Arabia is not important) and the Governor the 3rd largest province and the province having Islam's second most holiest city, Medina.

And the founder and owner of PetroSaudi, the person who allegedly "stole billions" (even though 1MDB actually made a profit from this joint-venture" is Prince Turki bin Abdullah Al Saud - the 7th son of the then King of Saudi Arabia.- a favoured son of the then King and was the Deputy Governor and eventually, the Governor of the Riyadh province - the second largest province in terms of both area and population. Its capital is the city of Riyadh, which is also the capital of Saudi Arabia.

Which means two princes and two governors of major provinces of wealthy Saudi Arabia "had conspired" with Najib to pretend-donate money to him and UMNO as well as cheat 1MDB - if Tun Mahathir, Sarawak Report and all the anti-Najib politicians and media will want you to believe.

There is more. 

In that same blog post, Sarawak Report had wrote:
We have learnt that at least four payments were received into the Prime Minister’s account accompanied by the same sender identification between 2011 and 2013, including the two totalling US$681 million, (the famous RM2.6b).  
The second transfer was for a sum of US$200 million, meaning that a total of a billion dollars was transferred by this alleged Saudi royal philanthropist supposedly in favour of UMNO into Najib’s account. 
This information was corroborated by the Malaysian Anti Corruption Commission (MACC) in July, when officials stated they had seen four letters from the same donor to the bank. 
It indicates that this alleged donor had been passing huge sums of money to Najib far in advance of the General Election, the original reason given, for wider purposes that remain unclear.
So, we now know that there was more than the famous USD700 million or RM2.6b and the donations started since the year 2011 and the amount was possibly more than USD1 billion.

BTW, the reason why USD700m is mentioned all the time and not USD1b is because from a propaganda angle, they had wanted you to associate this with the USD700m deposited into the famous Good Star account which they claim was owned by Jho Low - even though PetroSaudi has confirmed many times that this account was owned by them.

(Sarawak Report and the rest never did explain why if Najib wanted to steal RM2.6b for his own use, he would bring it back from overseas just a month before Malaysia and putting it into his own account - hence putting the money at risk if they had lost the General Elections),

Thus psychologically, Tun Mahathir and gang had wanted you to think that "Najib stole USD700m from 1MDB and put it into his accounts." - even though if this was true, then Malaysia's and the world's financial system would have gone into shock since two international auditors could not detect billions missing from 1MDB over many years.

As for the argument why it is in the personal account of Najib, it is actually allowed under their party constitution for the party president to hold party funds and assets under his own personal name.

For example, in a 2011 court case, it was revealed in court by the actual company directors that 56% of the shares of MRCB, New Straits Times and TV3 - worth billions even then - was held in trust in for the personal name of Tun Mahathir - and Anwar Ibrahim knew about it too.
Ahmad Nazri, a former director of Realmild, told an earlier hearing that he owned an 80 percent stake in Realmild, with 70 percent of it held in trust. 
“I was holding (the stake) in trust for Dr Mahathir. The trust was prepared by legal firm Amin & Co. A copy of the trust was given to Dr Mahathir, another to Anwar and I kept a copy.”
Not surprisingly, Mahathir never bothered to explain to us why he was personally named in a court testimony as the majority controlling shareholder of a multi-billion ringgit conglomerate via proxy (in his own name and not in the name of UMNO) - possibly flouting all dozens of Security Commissions and MACC laws.

Anyway, to help Mahathir a bit here, I reproduce UMNO's party constitution section here. What does Claude 27.2 say?

And as you can see, the transfers from Saudi prince to Najib's personal accounts started in the year 2011 - which could possibly be related to the Arab Spring movements where the gulf nations spent hundreds of billions to try to stop spreading - read Arab Money and the Malaysian Spring?

The famous Wharton School of Business from University of Pennsylvania also estimates that Saudi Arabia and fellow Gulf Countries spent at least USD150 billion to counter the Arab Spring movement - not just among themselves but on friendly nations too.

The Gulf countries spent more than USD150 Billion (analysts believe it is more) on themselves and friendly Muslim nations during the Arab Spring period to stop it from spreading and threatening their own positions and country. We had so-called Malaysian spring, no?

These specific gulf countries including Saudi Arabia spent so much because of their own self-preservation (not because they are overly generous than normal) as they were monarchies without democracy and would have been vulnerable to the Arab Spring.

And as for Sarawak Report's lame argument that the Governor of Madinah is not that rich to give, do you think that if a Govt or King Abdullah wanted to transfer money overseas for confidential national security or geo-politics purposes, they will sign their own names?

Of course not, they will get a trusted individual to do this instead - hence the prince.

This would probably explain why Najib would not want to reveal the names for all sorts of country to country confidentially and national security issues. It is likely that Najib had promised Saudi Arabia's King Abdullah not to publicly reveal the names and what it is for - which may also include counter-terrorism and other geo-political purposes too since it was a volatile period from the year 2011 onwards and still is.

Certain UMNO politicians who had been briefed on this had even suggested that other than supporting the ruling govt coalition, the money was even for fighting ISIS and terrorism too.

When it comes to matters such as these, it becomes shady and full transparency becomes a liability - lest there could be revenge attacks on Malaysia.

For example, the recent beheading of hostage Bernard Then had revealed that Sabah Chief Minister Musa Aman was personally involved in collecting and sending the ransom money to the terrorists in the Philippines to secure the release of our Malaysians.

But these were never made public - talk about transparency.

It was also alleged that Malaysians had also been secretly funding certain factions fighting in Mindanao before - and again, these were never made public.
Sabah police deny Malaysian hostage was ransomed
“As far as I know, no ransom was paid. They are just rumours,” he said when contacted by Malay Mail Online. 
According to a report in The Straits Times’ news portal, a ransom of some 30 million pesos (RM7.8 million) was paid for the release of Thien.
Of course Police and Government will never publicly reveal ransom demands or there are clandestine funding. There are things that cannot be said publicly as it would encourage more kidnappings or bring on revenge attacks against us if they knew we were funding one faction against another faction.

And only a fool would think that the Malaysia government does nothing covertly or does not engage in clandestine international geo-politics - especially in the war on international terrorism.

And if you disagree with me, then please explain to me why two princes who happens to be Governors of the most important provinces in wealthy Saudi Arabia would disregard their reputation and take the trouble to pakat with Najib to assist Najib to "songlap" billions?

Maybe if you cannot answer, you can ask The Council of Elders to help answer.


Did you know that Hillary Clinton received more than USD70 millions from Arab royal family and governments recently - even though she is not the president nor even head of her party and her party constitution never said she can hold funds for her party?

In fact, her foundation has raised USD2 billion since it started in 2001 with much of the donations happening after she became Secretary of State.

and that includes these donations direct from Royal families:

You can read more about these here:

Donations raise ethical questions as Hillary Clinton ramps up expected 2016 bid

Four oil-rich Arab nations, all with histories of philanthropy to United Nations and Middle Eastern causes, have donated vastly more money to the Clinton Foundation than they have to most other large private charities involved in the kinds of global work championed by the Clinton family.

Apparently, Hillary also broke no laws in receiving such donations from Arab royalty and countries.

Wednesday, 18 November 2015

Rafizi is worried about sale of Edra?

Today, PKR's Rafizi Ramli made a statement in Parliament about the possible sale of 1MDB's Edra to foreign companies.

The problem is that Rafizi has again been very economical with the truth. Here is why:

Rafizi: Electricity tariffs might be raised if 1Malaysia Development Berhad (1MDB)'s Edra Energy is sold to foreign firms, PKR warned today.

PKR secretary-general Rafizi Ramli also alleged that Putrajaya had decided to relax previous restrictions on foreign ownership of energy assets so that consortiums from China and Qatar could bid for Edra at a higher rate than market prices.

LSS: Firstly, if 1MDB did not come into the picture to buy eh/ the power plants would have LONG BEEN SOLD to foreigners already.
"The sovereign wealth fund beat a host of international bidders, including Saudi Arabia’s Saudi Water & Electric Co, to take control of Tanjong Energy Holdings in a deal signed late last Friday, financial executives involved in the deal told the daily." 

Do you want 1MDB to sell lower and lose RM2 billion so you can whack 1MDB for losing money? And if 1MDB sells to Tenaga, you will say that Tenaga is bailing out 1MDB.

Countries such as Indonesia, Singapore, India, Australia and Thailand allows up to 100% foreign ownership in their electricity generation industry. In fact Thailand currently imports 7% of their power from neighboring countries such as Myanmar and Laos and this is scheduled to go up to 20% in the next two years.

In fact, Malaysia's YTL is the largest private owner of Singapore's Independent Power Plants. In fact, 80% of power generation in Singapore are owned by foreigners.

Power plants are not like other industries such as shipping or airlines and you can simply pack-up the power plants and send it overseas via DHL or Poslaju. As long as the appropriate legislation and protections are all put in place, there is nothing to fear. 

Even having said this, TNB is still the monopoly holder of the most important part of the business - the transmission and sale of power to consumers, thus Malaysia is still firmly in control of the power business in Malaysia.

And if TNB buys Edra, their market share for electricity generating increases form 50% to 65%. On one hand, Pakatan wants an end to monopolies and less involvement by GLC in business saying it is crowding out the private sector but on the other hand, Pakatan is insisting on the exact opposite.

National security is simply not an issue at all anymore and a very lame excuse from Rafizi Ramli.

As you can see from the list above, out of the dozen or so power plants owned by 1MDB's Edra Energy, the majority are foreign power plants.

If other countries are not afraid of foreign ownership of their power plants, why should Malaysia be?

Rafizi: Power purchase agreements (PPA) of the IPPS in Edra would be up for renegotiation in 2016 and 2022, and the firms might use the opportunity to negotiate for higher tariff rates to make up for the higher price they would pay. "They can negotiate favourable terms for themselves and no one will know because the negotiations are secret," Rafizi told reporters at the Parliament lobby.

Rafizi is hopelessly out of touch on this. In fact, his accusation that PPA rates are direct secret negotiation is an outright lie.

Since the year 2012, all PPAs are based on open competitive bidding tender. Here is the announcement by Suruhanjaya Tenaga calling for the tender.

And here is a news story of the results of that open tender.
He noted that the bidding exercise was done in a transparent and open manner with eight parties initially selected with six coming up with final offers for evaluation. 
The first-generation IPPs' PPAs, which will expire between 2016 and 2017, are not being renegotiated and the competitive tender exercise will replace these as the country plans for future energy demand.
Here is the Maybank analysis of the outcome of the open bidding in 2012 that showed that the open competitive bidding for the PPAs have significantly slashed power rates - ending the sweetheart deals of the Mahathri-era lop-sided IPPs,' 

In fact, YTL's two power plants just expired on Sept 30th 2015 and only plant was renewed on a short term 2 1/2 years basis while the other plant was not renewed at all.

This being the age of competitive open bidding, it can be argued that foreign players of substantial size, access to cheaper cost of funds and expertise could even lower the price of electricity instead of raising it - to the benefit of all Malaysians.

Under PM Najib, it is clear that the days of direct negotiation with well-connected private cronies and lop-sided power agreements that hurts ordinary Malaysians for decades are well and truly over.

Rafizi: The China and Qatar consortium is paying RM2 billion above market value to buy Edra - above Tenaga's offer.

Dear YB Rafizi, market value is simply what others believe the business is worth and willing to put their money where their mouth is and pay that amount for it. 

The sale of Edra was done via an open tender where interest was high and 1MDB had to even kick out some bidders and finally came to a final shortlist of 4 winners - and among all these bids, Tenaga was always at the bottom of the bid price.

And open tender is the best way to determine the market price and whatever price was bid IS the market price.

Instead of saying that the China and Qatar consortium is over-paying, perhaps you should say that Tenaga may have underbid for Edra?
Sell low, you will complain. Sell high, you will also complain.  Sell to locals, you will complain, sell to foreigners, you will also complain.

If I didn't know any better, the attempt by PKR to stop the sale of Edra to the highest bidder in a competitive international tender sounds like yet another deliberate sabotage by Pakatan of 1MDB's rationalization plans.

This is not the first time, of course and probably won't be the last.

In July 2015, PKR's ally DAP has already done this by stopping the legitimate sale of 1MDB's RM1.1 billion worth of land in Penang, which DAP controls - thus trying to scupper 1MDB';s efforts to dispose of assets that is no longer needed to raise cash and pay off debts.

Pakatan is dead-scared of 1MDB being fully resolved.

Recently, 1MDB boss Arul Kanda has stated:
"With RM16 billion from Edra Energy asset sale, at least RM11 billion from Bandar Malaysia bids and RM16 billion debt sale to Abu Dhabi’s International Petroleum Investment Company (IPIC), the existing 1Malaysia Development Berhad (1MDB) debt of RM42 billion is about to be wiped out."

In fact, not only will the debt be fully wiped out but when the rationalization is complete, 1MDB will hold between RM10 billion to RM12 billion in net assets.

So much for 1MDB heavily in debt or billions of dollars stolen by a fat Chinese man or  by Prime Ministers.

Pakatan seems desperate to drag the 1MDB issue out and continue to make it a political issue against BN and Najib

It is not in Pakatan's interest to allow 1MDB to be resolved and be seen as successful - even though a resolved and debt-free 1MDB is to the betterment and the interest of Malaysia.

Pakatan's own selfish political interest seems to over-ride the interest of the country itself.


The question I get asked a lot is:

Why buy the IPP (Independent Power Plants) when they can get it cheap by waiting for it to expire.

1. Out of 15 power plants bought by 1MDB in 2012-2013, only two were close to expiring - the Genting plant in 2016 and the 440MW Powertek plant bought from Tanjing, also in 2016.

So, we wait four years for two plants to expire (out of 15 plants) and wait four years to help restructure the IPP industry and also miss out on the bidding for the additional 3 new plants, is it?

2. The Genting plant got renewed for for another ten years in 2012 - mere months after 1MDB bought it. Everybody knows it will get renewed as it was a relatively new plant. Genting would probably be unhappy that the extension was for so long and gotten so soon after they sold it.

3. The other major purchase was Jimah Energy, the second largest IPP in Malaysia. It was bought by 1MDB in 2013. It started production in 2009 and has a 25 year concession period - expiring in 2034 - not anywhere near to expiry.

4. The 440MW Powertek plant is part of  13 power plants with a capacity of 3,951MW that 1MDB bought from Ananda. Ananda was selling it as an entire package and not piece by piece.

5. The sale of Tanjong's ppwer assets was by international tender. 1MDB was not the highest bidder for Tanjong. A Saudi Arabia company was the highest bidder.

6. 1MDB may have paid RM8.5billion for Tanjong's power assets but it had RM1,58b cash in it - hence a net cash outflow of RM6.9b

7. It is not unusual to pay a premium when you take over a company. Nobody sells to you at net asset value - but based on market price, which was set in the international tender. 

For example, a most recent example is this: Dubai's Emirates National Oil Company (Enoc) has made a potential offer to take over Dragon oil at 735p per share - a premium over the share price of 509p at that time.

So, what do you mean over-paid for the assets?

Sunday, 15 November 2015


Terjemah dari:

Satu setengah tahun lepas, PAS merupakan penyokong kuat Pakatan Rakyat yang sudah berkubur sekarang.

PAS sentiasa memenuhi janji mereka untuk berpakat dengan PKR dan DAP dan sentiasa menggerakkan jentera mereka yang besar untuk menyokong perhimpunan dan acara anjuran Pakatan.

Terima hakikat PAS mungkin bukan yang genius dalam hal berkaitan polisi pembangunan ekonomi tetapi sebagai sebuah parti berlandaskan agama, mereka dilihat sentiasa cuba untuk berpegang dengan prinsip mereka.

Jadi, bagaimana kerjasama ini boleh gagal begitu pantas dan mengapa PAS begitu keras dengan DAP sekarang? ... JOM TERJAH!!!


Seperti yang disebutkan banyak kali oleh pemimpin DAP dan PKR, Pakatan berfungsi pada asas keputusan secara konsensus - bermakna kesemua 3 parti mesti bersetuju sebelum keputusan penting dibuat.

Ianya tidak beroperasi dengan asas keputusan majoriti 2/3. Ketiga-tiga mesti bersetuju.

PAS membantah keras Langkah Kajang ini tetapi ianya masih dilaksanakan tanpa persetujuan PAS - sesuatu yang pastinya melanggar perjanjian konsensus Pakatan.

Malah, ianya dilihat sebagai tindakan satu pihak iaitu PKR - sebagai satu strategi oleh Pengarah Strategi nya ketika itu, Rafizi Ramli.

Malah Setiausaha Agung Lim Guan Eng pun tidak mengetahuinya. Melainkan Lim Guan Eng menipu pada ketika itu, apabila Adun Kajang meletak jawatan untuk membenarkan Anwar bertanding di situ, maka hal ini bukan satu keputusan bersama.

Petikan akhbar - Setiausaha Agung DAP Lim Guan Eng telah menafikan mengetahui apa yang berlaku di Selangor berikutan peletakan jawatan Adun Kajang Lee Chin Cheh semalam.

Beliau berkata beliau tidak dimaklumkan dengan perkara itu oleh ketua de facto PKR dan Ketua Pembangkang Datuk Seri Anwar Ibrahim, yang akan bertanding di pilihanraya kecil Kajang. Lim juga berkata beliau baru mengetahuinya. 
“Saya tidak diberitahu mengenai apa yang terjadi di Selangor berkenaan peletakan jawatan itu atau jawatan Menteri Besar Selangor. 
“Adalah lebih baik sekiranya Anwar yang jawab. Saya tidak berhak menjawab atau memberikan pandangan. Pandangan saya terhadap hal ini tidak penting,” - Jan 28, 2014.

Sebagai seorang yang suka mengambil kesempatan, DAP kemudiannya turut serta dalam rancangan PKR dan Rafizi ini - Tetapi PAS tetap enggan untuk turut serta kerana prinsip keputusan konsensus Pakatan telah dilanggar.


Melihatkan kerjasama yang baik dengan Tan Sri Khalid, PAS percaya Tan Sri Khalid telah dijadikan mangsa. Dan ianya tidak adil melihat seseorang seperti itu difitnah dan dimalukan - sesuatu yang bertentangan dengan ajaran Islam.

Ketika kempen memaksa Khalid meletak jawatan, PKR dan DAP mengeluarkan kenyataan 91 muka surat yang mengandungi tuduhan terhadap Khalid berkenaan segala macam tuduhan salah laku dan rasuah.

Tuduhan ini banyak kali diulang di dalam ceramah oleh pemimpin PKR dan DAP di seluruh negeri.

Khalid sudah semestinya marah dan telah menyaman malu PKR pada Ogos 2014.

Ketika itu, Khalid turut mengarahkan pembantunya untuk menyerahkan laporan PKR berkenaan kaitan pemimpin PKR dengan urusniaga yang meragukan kepada Suruhanjaya Pencegahan Rasuah Malaysia, yang memohon badan tersebut untuk menyiasat dakwaan parti - lalu menjadi orang pertama (dan masih satu-satunya) orang di Malaysia yang meminta diri beliau disiasat untuk kes rasuah.

Penilaian awal PAS yang Khalid difitnah terbukti benar apabila setahun kemudian, selepas Khalid diturunkan dari jawatan MB Selangor, Khalid menang saman malunya terhadap PKR apabila bekas Setiausaha Agung PKR membacakan permohonan maaf secara terbuka di dalam mahkamah.

Permohonan maaf itu adalah tanpa syarat dan PKR mengakui setiap tuduhan dan dakwaan terhadap Khalid adalah tidak benar dan berniat memfitnah.

"...dokumen tersebut telah menyatakan dan memberi gambaran bahawa Tan Sri Khalid Ibrahim (TSKI) adalah seorang yg korup, zalim, tidak boleh dipercayai, tidak bersikap telus, tidak jujur, tidak beretika, tidak beramanah, tidak berintegriti, telah terlibat dengan perlakuan rasuah dan salahlaku dan tidak layak menjadi MB Selangor.

"Bagi pihak PKR dan saya secara peribadi, kami melahirkan rasa amat kesal dan dengan ikhlas dan suci hati serta TANPA SYARAT memohon maaf kpd TSKI. "

"Bagi pihak PKR dan secara peribadi, kami juga memberi akujanji kpd TSKI dan mahkamah yg mulia ini bhw kenyataan2 tersebut tidak seharusnya dikatakan dan kami akan memberhentikan dpd menyadatakan dan tidak akan mengulangi kandungan dan tuduhan2 dlm dokumen tersebut dan apa2 kenyataan yg berkaitan dgn dokumen tersebut."
Dengan sifat tidak malu dan bermuka tebal, Rafizi Ramli dan PKR telah mengeluarkan satu siri tweet mengatakan yang Khalid Ibrahim dan PKR telah memohon maaf terhadap satu sama lain dan Khalid telah menarik balik saman malu tersebut!!

Khalid tidak menarik balik saman tetapi menerima permohonan maaf tanpa syarat itu sebagai penyelesaian.

Dan kononnya terdapat satu permohonan maaf Khalid terhadap PKR, ini dia. Sila baca dan ketawa. 

Bagaimana PKR dan Rafizi boleh menyalah anggap ‘maaf zahir dan batin’ sempena hari raya sebagai permohonan maaf, saya tak tahu. Putarbelit yang sungguh memalukan.

Walaubagaimanapun, PAS telah membuktikan kewajaran menegakkan keadilan dan mempertahan Khalid dari fitnah.

If you want to see the full apology judgement straight from Khalid's lawyers, Bon Advocates, you can click here.

Lihat pembohongan DAP ini yang mengagongkan kebersihan mantan MB Khalid Ibrahim hanya sebulan sebelum DAP mula memfitnah beliau dengan segala tomahan-tomahan.


2 orang ADUN PAS telah mengabaikan arahan parti dan berpihak kepada DAP dan PKR untuk menandatangani akuan bersumpah menyokong Wan Azizah sebagai Menteri Besar.

Presiden PAS Hadi Awang begitu marah yang ahli partinya bertindak melanggar arahannya dan berbuat demikian terhadap partinya. Anda boleh dengar kemarahannya disini:
(Hadi bidas PKR 'curi' dua barua PAS sokong Azizah)

Saya fikir tidak ada parti politik di dunia ini yang akan bertolak ansur dengan parti yang ‘mencuri’ wakilnya.

Jika anda hormat rakan kerjasama anda, anda pastinya tidak akan menerima akuan sumpah dari wakil rakan kerjasama anda dan membelakangi keputusan parti mereka sendiri.

Itu tikam belakang. Yang teruk.


Perlu diingat, kewujudan PAS adalah untuk menegakkan ISLAM di Malaysia dan sangat mustahil PAS akan berhenti memperjuangkan hukum syariah dan hudud.

Sebab itulah, isu Hudud sentiasa menjadi duri dalam daging di dalam hubungan Pakatan yang menyebabkan beberapa perbalahan ketika tahun-tahun awal Pakatan Rakyat selepas 2008.

Ini telah menyebabkan berlakunya satu mesyuarat sulit pada September 2011 di antara mereka yang pada awalnya dilaporkan (tetapi dengan cepat dipadam oleh Malaysia Chronicle tetapi sempat disalin oleh beberapa blog):
"Selepas marathon mesyuarat dimana meja dihempas dan pengerusi DAP Karpal Singh ditengking oleh ahli parti sendiri supaya menyedari masalah yang sedang melanda Pakatan Harapan, satu persetujuan telah dicapai dan semua orang memperolehi apa yang diinginkan."

"Pertama, Mursyidul Am PAS Nik Aziz Nik Mat telah diberikan kebenaran untuk melaksanakan agenda hukum hudud di Kelantan, di mana pada tahun 1993, lama sebelum Pakatan dibentuk, beliau telah mengusulkan hudud di Dewan Undangan Negeri."

"Ini adalah satu persetujuan dari DAP dan sebagai penghargaan sumbangan Nik Aziz kepada negara dan pakatan pembangkang. Penghargaan yang sama diberikan kepada Terengganu, di mana Presiden PAS Hadi Awang telah menggazetkan hukum hudud pada 2003 tetapi tidak berupaya melaksanakannya."

"Sebagai balasan, DAP telah mendapat pengiktirafan dari PAS yang manifesto bersama Pakatan dan Buku Jingga akan kekal, tanpa perlu melibatkan hudud."

Kebenaran untuk Kelantan melaksanakan hudud di Kelantan tidak pernah didedahkan di dalam ceramah dan ucapan Pakatan selepas itu kerana mereka memilih untuk menyebut “Hudud tidak termasuk di dalam Polisi Bersama Pakatan Rakyat”.

Akhirnya selepas PRU-13, PAS cuba menegakkan Hudud di Kelantan sekali lagi dan DAP membantah keras dan mula memperkecilkan PAS.

Kemudian segalanya mula meletup!

Pada April 2014, seorang pemimpin kanan wanita PAS berkata, “DAP pernah bersetuju PAS perjuang konsep Negara Islam.”

Sehari kemudian pada April 2014, Naib Presiden PKR Tian Chua telah memberitahu media yang DAP dan PKR sememangnya telah bersetuju untuk Hudud di Kelantan - yang menyebabkan Lim Guan Eng memanggil Tian Chua sebagai ‘tidak bertanggungjawab dan penipu yang tidak beretika”.

Beberapa hari kemudian, Presiden PAS Abdul Hadi Awang JUGA berkata DAP telah bersetuju untuk PAS melaksanakan hudud. Tetapi Lim Guan Eng menafikannya dan menuntut Hadi memberikan bukti.

Akhirnya, satu salinan surat yang ditandatangani bersama-sama oleh Abdul Hadi Awang dan Lim Guan Eng sebelum PRU-13 mula timbul.

Di dalam surat tersebut, jelas ianya menyebut “PAS berhak memperjuangkan aqidah dan konsep Negara Islam secara sendiri.”

Sekarang, melainkan Lim Guan Eng jahil yang Negara Islam juga melibatkan hukum syariah dan hudud, ianya jelas yang DAP membenarkan PAS melaksanakan hudud kerana Lim Guan Eng menandatanganinya!

Surat itu juga disiarkan di laman Facebook rasmi Abdul Hadi Awang.

Dan jika anda percaya surat itu palsu atau Hadi Awang telah berbohong, anda boleh menonton videonya di sini dan lihat siapa yang ada di dalam video apabila mereka membacakan surat ini beberapa ketika sebelum PRU-13 di hadapan sekumpulan ahli PAS.

Maka, di dalam fikiran mereka, PAS marah dengan DAP kerana DAP telah melanggar janji dan surat persetujuan yang telah ditandatangani. Dan tidak hanya itu, PAS marah yang pemimpin DAP telah menyerang pemimpin PAS dengan teruk dan kurang ajar - memanggil Abdul Hadi dengan pelbagai gelaran buruk.

Ini telah melanggar persetujuan bertulis serta keputusan konsensus dan penafian terbuka terang-terangan oleh DAP yang masih ada hati untuk menyerang semula PAS dan melabel PAS sebagai penipu membuat mereka hilang sabar.

Melihatkan semua peristiwa di atas, hubungan antara PAS dan DAP nampaknya tidak boleh dipulihkan.

Siapa yang menipu, siapa yang berkata benar, parti mana yang memegang prinsip dan parti mana yang tidak boleh dipercayai adalah jelas....