YOURSAY ‘One simple question - did RM700 million go into Jho Low’s account?’

1MDB reveals all on 'missing' billions

Daniel: Note that all the other spending by 1MDB outstrips the cost of the land purchases, which is supposed to be worth many more billions, and is probably already revalued many times its original value to be used as collateral for more loans.

Why would you want to spend RM12 billion to buy assets which is saddled with debts half its value? These power plants are also supposed to have concessions which are already running out.

And what kind of investments is vested in companies such as Brazen Sky (a wholly-owned 1MDB unit registered in Cayman Islands)? Why would you borrow money to invest in funds? Wouldn't you do this with surplus funds? And at almost 11 percent cost of finance?

All these spells stupidity and I don't need to be an accountant to tell you that.

Dont Just Talk: What is the core business of Brazen Sky that a sum of RM6.1 billion was given to the company - which is no chicken feed - and what is the return of equity like?

What is the gearing of 1MDB to its paid-up capital and how is 1MDB going to repay the interest and debt of RM6.1 billion? Who are the directors of Brazen Sky and was there any conflict of interest involved?

What assets does Brazen Sky own and what is the profit guaranteed by the company director? Is the dividend earned sufficient to repay the bank interest and the short-term loan?

Even before 1MDB open its door for business, the company is already drowning in debts, which does not include its high operating expenditure of RM5.8 billion.

DPM Muhyuddin Yassin is right, just sack all the board of directors and have a royal commission of inquiry to look into the financial scandal of 1MDB.

Indeed, giving a full breakdown is easy but justifying the investment over RM6.1 billion into Brazen Sky is difficult.

Meh: Just answer one simple question - did RM700 million go into tycoon Jho Low’s account?

Sali Tambap: I should say that it is a good thing that 1MDB finally reveals where the RM42 billions debt gone to. It should have done that earlier but it is better late than never.

Now that 1MDB has shown where the money has gone, perhaps we can look into each item to see what is really going on. If the money is spent, then where are the goods?

If it has been invested, then is the value still there and what are the expected returns? Most important is whether the money is still where it is supposed to be. Hopefully it is not just paper money without much value, which is as good as lost.

For starters, the RM5.8 billion that was incurred as financial expenditure is perhaps rather astronomical and the revelation that monies were found to be in Jho Low's Brazen Sky probably need further scrutiny.

Now the experts can look into each expenditure for wastage and criminal breach of trust.

James TCLow: These figures are for MPs Tony Pua and Rafizi Ramli to decipher . I suspect the impairment losses are huge and that may point to the stupidity of the 1MDB board of directors.

Whether there is any hanky-panky, it is for all concerned to peruse and scrutinise.

Anonymous #44199885: The figure for working capital and finance cost is phenomenal for an investment holding company.

The sum of approximately RM15 billion for investments is shocking. Why did the government borrow to make the investments? Why did it not use surplus funds held by Khazanah Nasional?

Details of the investments and their value are not given. How was value of IPPs (independent power producers) arrived at almost RM12 billion given that some of the plants are nearing end of life and the IPPs have a carry liability of RM6 billion?

The rationale to support the investments and purchases are unclear and this should be investigated. The investigation should also be made on the decision-making process of the investment decisions and whether criteria for making the decisions were sound given the sums involved.

Beneficiaries of the monies must disclose to determine whether wrongdoing exists.

Headhunter: Why buy the IPP if it is so heavily in debt? Doesn't that ring the alarm bell? It sounds like a bailout, doesn't it? 

Spirit of Malaya: What kind of reporting did you expect from the 1MDB CEO? You think he is going to give you the ‘notes to the account’ for each and every transaction? Dream on.

He was cornered, so he did the next best thing - just provide some nice statistics.

You see, for most of the folks who depend on the Bantuan Rakyat 1Malaysia (BR1M), any explanation shall do but it will start to stink once independent auditors are allowed to dissect it. Remember Enron and Lehman brothers?

Saphire: After six years, still no income? What type of business is this?

Retnam: And what about the ‘units’ in BSI Bank Singapore?

Swipenter: The devil is in the details. 1MDB president and group executive director Arul Kanda, please furnish us the details and notes accompanying your figures.

For now, your revelation tells us nothing much.

Unanswered questions in 1MDB’s ‘bare all’

The above is a selection of comments posted by Malaysiakini subscribers. Only paying subscribers can post comments. Over the past one year, Malaysiakinians have posted over 100,000 comments. Join the Malaysiakini community and help set the news agenda. Subscribe now .

These comments are compiled to reflect the views of Malaysiakini subscribers on matters of public interest. Malaysiakini does not intend to represent these views as fact.