cakap cakap : About 1 MDB and the Banks, Clinton and Lewinsky, Rosmah and World Peace.

Deputy minister says loan extension shows banks’ confidence in 1MDB

Published: 29 January 2015 6:09 PM

Deputy Finance Minister Datuk Chua Tee Yong said for banks to allow 1Malaysia Development Bhd (1MDB) a third extension for its loan repayment showed their confidence in the company. – The Malaysian Insider file pic, January 29, 2015.

Deputy Finance Minister Datuk Chua Tee Yong appeared to defend 1Malaysia Development Bhd (1MDB) today, saying "some" companies also required an extension for their loan repayments.

Asked to comment on reports that the 100%-owned sovereign wealth fund of the Finance Ministry was seeking a third extension to repay its RM2 billion loan, he said if banks were to grant the extension, it would reflect their confidence in 1MDB.

“For banks to allow (an) extension, this also shows that they have a certain confidence in the company,” he told reporters after opening the Malaysian Business Student Summit 2015 at Universiti Malaya’s Faculty of Business and Accountancy.

 steadyaku47 comment:

Loan extension shows bank's confidence in1MDB. Really Chua? You can say that with a straight face? Are you a retard? Mentally challenged or just plain stupid? The Malaysian public believe what you said as much as the Americans believed Clinton when he said "I did not have sexual relations with that women".    

Barisan Nasional knows the value of a little humor when all else fails but If this Chua is the best they can come up with to bring some comic relief into the 1MDB debacle then we have to laugh not with him but at him!

His approach? 

The old tried and tested routine : Wag the Dog...political spin.....tipu...call it  what you want.

It would have the same effect of some one declaring to who ever is listening (not many lah!)  that Rosmah's contribution to world peace far outweighs her body mass! 

Your first reaction upon seeing "World Peace" and "Rosmah" in one sentence is to equate the two together in a positive way. Hmmmm Rosmah is working towards world peace  - hooray for her! That is until you come to the latter part of the story...."far outweighs her body mass"..and immedeitly you conjure up a fat lady on one side of the scale and world peace on the other...who wins? The fat lady of course! But at least for a Rosmah desperate for accolades of any sort, that few seconds of being connected to world peace is better than nothing at all. 

This Chua guy from Labis is doing the same thing with the 1MDB situation.

What this Chua is telling us is that if you owe the bank money and you go to the bank on Friday and tell them you will not be paying the scheduled repayments due that coming Monday the bank manager will react in this way: Yes sir yes sir...three bags full Sir...shake your hand, pat you on your back and walk you to the door and hold it open until you get in. Then he stands there waving goodbye until you turn the corner!

You and I know that the truth is far from that! 

First of all you, the bank manager, his secretary, the office boy and even the guard at the bank entrance knows that you are not paying the scheduled payment on Monday because you do not have the money to do so. 

Now if you are doing it for the third time....this is what will happen:  

• Bank calls in the Mafia to do the negotiation for them because by now the banks know you obviously have no assets the bank can sita.
• No point in threatening to downgrade your credit rating because it is already gone South of the border to Mexico.
• Posters of you will now be plastered on the walls to alert guards to not allow you into the bank anymore.

Chua is trying to take our attention away from the fact that 1MDB is asking for the third extension of a payment long overdue. He tells us that the Banks trust 1MDB enough to give another extension. 

This is another way of saying that 1MDB is too big to fail lah! Of course it is too big to fail because when it fails it drags the banking system down with it. So the banks are wetting their trousers just thinking of what will happen if 1MDB fail. 1MDB has got the banking system by the balls and when you have anyone or anything by their balls you know their hearts and minds will follow!

Remember Clinton trying to deflect the Americans attention on his infamous relationship with Monica Lewinsky by declaring Operations Infinte Reach  - ordering missles strikes against suspect terrorists target in Sudan and Afghanistan three days after he admitted in a nationally televised address that he had indeed had an inappropriate relationship with Lewinsky? 

So now this BN government is doing the same thing. 

Do not worry what the impending failure 1MDB will do to the nation's economy. 
Do not worry about the abuse of those tasked with managing the funds.   
Be proud of the fact that the banks have, for the third time, extended the period for 1MDB to pay what is due to these Malaysian banks. 
So focus on the bank's thumbs up to 1MDB request for yet another extension to their loan repayment   not 1MDB's performance to date.

I say BULL! Aiyah Chua you got no standard ma.....Nang boti nang. Kui boti kui!