Lowyat.NET: Latest topics by simonblowais

Rexy say LZJ = Messi / C Ronaldo

simonblowais — Tue, 20 Feb 2024 10:50:38 +0800

https://www.thestar.com.my/sport/badminton/...omas-cup-finals

The team did their best under the circumstances. If we had been at full strength, we would have stood a better chance,” said Rexy.

“Losing Zii Jia was similar to losing Lionel Messi or Cristiano Ronaldo in football.

In the tie against China, world No. 38 Leong Jun Hao was promoted to the first singles but he went down fighting 19-21, 17-21 to 2023 Denmark Open champion Weng Hongyang.

It went south after that as former world champions Aaron Chia-Soh Wooi Yik went down to world No. 90 Xie Haonan-Zeng Weihan while the inexperienced 19-year-old Eogene Ewe slumped 10-21, 14-21 to world No. 35 Lei Lanxi.

Full article go link above. Can anyone tell me what high grade stuff he is on, i wanna try too

Air selangor raise min amount?

simonblowais — Sat, 18 Dec 2021 15:29:21 +0800

Is it just me or did air selangor raise the min amount for water bills to rm6.80? If raise why no announcement?

Bomba did not approve putting barbed wire on PPR

simonblowais — Sun, 04 Jul 2021 11:43:31 +0800

Fire and Rescue Services Department director-general Hamdan Wahid has denied that clearance was given for barbed and razor wires to be set up along a public housing staircase at Block C, PPR Kampung Baru Air Panas, Kuala Lumpur.

"Who gave an approval? Bomba never gave any approval.

"Blocking any means of escape for the purposes of an emergency in any premises is against fire safety regulations and the Uniform Building By-Laws," said Hamdan when contacted yesterday.

https://m.malaysiakini.com/news/581609

Arul says 1MDB maybe default...

simonblowais — Sun, 24 Apr 2016 19:50:11 +0800

1MDB's US$1b default could trigger cross default on its other debts, says Arul

KUALA LUMPUR: If troubled 1Malaysia Development Bhd (1MDB) defaults on its US$1 billion loan from Abu Dhabi's IPIC, that could trigger cross defaults on the fund's other debts, including some bonds, according to the fund's president and group executive director Arul Kanda Kandasamy.

Though 1MDB has declared just four days ago that it is free of all its bank and short-term debts, it still has a RM5 billion sukuk with a government guarantee, another RM2.4 billion Bandar Malaysia sukuk, a RM800 million loan from the Social Security Organisation or Socso in short, and in his words, "the one that everyone is worried about", a US$3 billion bond the fund issued in 2013 to fund the Tun Razak Exchange development.

In an exclusive interview with The Edge Malaysia, published in the weekly's cover story for the week of April 25-May 1, a clearly frustrated Arul told the publication's Executive Editor Kathy Fong and Associate Editor Jose Barrock what had derailed the asset for debt settlement with IPIC, which he thought was a done deal and the final piece of the jigsaw to rescue 1MDB from its massive debt woes -- and what could happen next now with IPIC's declaration of default against 1MDB.

The binding term sheet 1MDB signed with IPIC in June 2015 got the cash-strapped 1MDB then the US$1 billion it needed to settle some immediate obligations, including a US$975 million syndicated loan led by Deutsche Bank AG.

There is one crucial item on the term sheet, which is that 1MDB has to transfer the amount that IPIC paid, the cash plus the interests — US$1.15 billion — by Dec 31, 2015, according to Arul. As such, he said: "actually, we were in default since December". But he questioned why IPIC waited until now to make the announcement.

"It should have been made immediately after the default as it’s a large amount. Why wait until April to say you don’t own Aabar BVI?"

As to the US$3.5 billion worth of payments that 1MDB made to Aabar BVI (Aabar Investments PJS Ltd), the company with the near identical name to IPIC's subsidiary Aabar Investments PJS, Arul said: "What we cannot discount is there could actually be fraud...a massive fraud...and maybe there was collaboration from our side".

He also spoke about wanting to quit 1MDB, and how the issues at the fund was not his and "not what I signed up for". "I'm very tired. I'm doing over and above what I had signed up to do."

Pick up a copy of The Edge Malaysia today from newsstands near you to find out what could have caused the IPIC-1MDB deal to turn sour, why 1MDB thinks that IPIC holds corporate responsibility too for the US$3.5 billion that was diverted into Aabar BVI for not calling foul earlier if it hadn't received the monies, and more.

Also, read about what the publication has to say about whether 1MDB was cheated or if it was a party to the fraud.

http://www.theedgemarkets.com/my/article/1...debts-says-arul

1MDB "SEMUA WANG SUDAH HABIS GUNA"

simonblowais — Fri, 09 Oct 2015 23:41:05 +0800

1MDB has indicated that it would be unable to repatriate US$1.68 billion in funds as demanded by Bank Negara.

This is because the funds have either been spent or earmarked for a debt transfer.

"The overseas investments of US$1.83 billion relates to historic equity and murabaha loan investments in a joint venture with PetroSaudi in 2009 – 2011, that was eventually converted in September 2012 into fund units valued at US$2.318 billion.

"As previously explained by 1MDB to Bank Negara, this sum of US$2.318 billion has been redeemed in 2014 and 2015, with proceeds being substantially utilised.

"The remaining US$940 million of fund units, are guaranteed by Aabar and have been ear-marked for a 'debt for asset swap' with its 'AA' rated parent, IPIC, as part of the 1MDB rationalisation plan," it said in a statement tonight.

http://m.malaysiakini.com/news/315238