In a statement, Wanita MCA vice-chairperson Ong Chong Swen said there was a vast discrepancy between the figures touted by Mahathir and Bank Negara Malaysia.
Explaining that the Pakatan Harapan government's method of calculation was important, she said Malaysia's credit rating would be affected by national debt figures and this, in turn, would affect investor confidence.
"As of May 22, this year, Bank Negara stated the government’s debt to be RM705.104 billion in its report.
"But the prime minister recently claimed that our national debt has exceeded RM1 trillion. I urge the government to clarify these figures, due to the stunning difference in both.
"The national debt figures will affect the country’s credit ratings. If there is confusion, foreign investors will lose confidence and further affect the country’s economic stability," she said.
Not so fast. Yes, the gullible guppies may believe every sh*t Mahathir peddles, but he has been known to mudah lupa. Not everything he did was successful (in fact many were monumental disasters) nor can we say every of his calculations has been accurate.
Even the new highly popular and much adored PM must be accountable. Show proof of your figure stated, a declaration where details were NOT provided.
Meanwhile, NST reported:
Meanwhile, Najib reminded those in power that they must remember that the country and Malaysians come first.
"While you may want to slander and put all the blame on me to give a perception of a dire financial position to justify why you cannot deliver on your manifesto promises and to massively cut the civil service, you must remember that the country and our people comes first.
"You can also issue misleading statements on 1MDB or tell half the story about it to blame me but the time to play politics is over.
"Words spoken while in such positions of power result in actual losses to the country and the people, as was proven today in the stock market. It is no longer just about votes anymore," he said.
Meanwhile, NST reported:
Meanwhile, Najib reminded those in power that they must remember that the country and Malaysians come first.
"While you may want to slander and put all the blame on me to give a perception of a dire financial position to justify why you cannot deliver on your manifesto promises and to massively cut the civil service, you must remember that the country and our people comes first.
"You can also issue misleading statements on 1MDB or tell half the story about it to blame me but the time to play politics is over.
"Words spoken while in such positions of power result in actual losses to the country and the people, as was proven today in the stock market. It is no longer just about votes anymore," he said.
How about cheebye kaytee to show us the proof that he is really from air itam? Documents? Photos? Ic? Credentials?
ReplyDeleteLim Guan Eng has already stated the existence of Secret Black Accounts (he termed them Red Files) which are real liabilities but not included in the Malaysian Government's official balance sheet.
ReplyDeleteOnly 1 person could have ordered this - the previous Finance Minister.
Bank Negara was either in the dark or complicit in this.
The Bank Negara Governor will definitely face grilling from Lim Guan Eng at some other time.
If you want to know the mechanism....this is what Enron did.
Liabilities moved to special undeclared accounts. As long as the Government (the company in the case of Enron) has the cash flow to continue paying the debt instalments, the creditors and shareholders have no idea something is amiss.
That is why GST was so important..... to avoid a financial meltdown.
Old folks wisely said ...Its not just how much you earn, its how much you spend, and how much you owe.
lge oso a liar?
ReplyDeleteLim Guan Eng is very smart.
ReplyDeleteCorporate Finance people call it "Kitchen Sinking" When a new management takes over a company, especially if its a hostile takeover, they disclose All the bad news at one go. Get it out of the way. The share price will collapse, for a few months, then as your resolve the problems, they will rise again.
Smart he may be, but I wouldn't put too much faith onto someone who has a poor grasp of calculations in an Excel spreadsheet.
DeleteThe difference could be in them Red Files in the MoF. Not to worry we have Tony P and Ong KM, both Oxbridge graduates working FOC to unearth and consolidate the actual debt and report the true figure.
ReplyDeleteThe Crook and Traitor of Langgak Duta croaks....
ReplyDeleteI would advice him to focus on his legal defence...he needs to.
People around him , arguably guilty of abetment , are desperately trying to save their skin by pointing the finger at him.
Najib is in Deep Shit.
Does anyone know whether she has ever asked about the 1MDB scandal and the amount missing during BN glorious days?
ReplyDeleteMCA was a businessman and businesswoman club all along and when stockmarket goes down, panic comes in searching for answers to why their share prices are tumbling. All these cloak under questions of accuracy of National debt.
That goes the same to corporate UMNO where rich businessman and businesswoman has taken over.
TDM knows where it hurts momentarily to keep them busy rather than hindering his work and might perhaps answer next with a 2 trillion debt figure.
After his work is done and if the same questions come about again, perhaps he will ask to refer these questions to the MOF or BNM for the actual figures.
Wakakakakaka
Out of a blue suddenly u have one Wanita MCA vice-chairperson Ong Chong Swen calling for Dr Mahathir Mohamad's administration to clarify how they calculated the country's national debt to be at RM1 trillion.
DeleteGood!
Bad!
What happened ALL these yrs that this Wanita MCA vice-chairperson has been unheard-of?
About foreign investors reaction maybe she SHOULD read:
http://malaysiafinance.blogspot.my/2018/05/inflows-and-outflows-talking-points.html?m=1
Just for curiosity, what's her professional qualifications to add her 2cent worth on investor confidence?
Kitchen arithmetic coming out of past?
PH never needed proof when they were in Opposition, therefore they assumed that proof is not needed when in Government. But when they take this mantra to the British court, the honourable judge wasn't impressed.
ReplyDeleteLagi teruk, the gullible loopies r going round town, quoting every cats & mouses about the pending econ failure!
ReplyDeletelge lying again in response to najib statement. let us hear the true n fact from najib.
ReplyDelete