1MDB: Salleh appeals for patience, not irrationality
He says criticism against 1MDB will achieve nothing since the full extent of losses will only be known once official reports are released.
(Free Malaysia Today) – The comments and criticism levelled at 1Malaysia Development Berhad (1MDB) is getting increasingly irrational, prompting the Sabah State Speaker to appeal to all and sundry to wait until official investigative reports are released.
In his latest blog entry, Salleh Said Keruak made his case for patience over irrationality by explaining the similarities of the Forex losses of 1992-1994 although the general sentiment was that he was “not comparing apples to apples”.
He explained that the main argument was that the Forex’s losses of RM30 billion was not a mystery where as the RM42 billion allegedly lost by 1MDB was.
“First of all, it is yet to be determined as to what the 1MDB losses are, if in the first place there are indeed any losses,” Salleh countered, adding that only the Public Accounts Committee’s (PAC) report and that of the auditor’s could clear the air on that issue.
He further argued that there was a difference between “exposure” and “losses”, something not many were paying attention to when criticising the financial predicament of 1MDB.
“We must remember that RM42 billion is 1MDB’s exposure, not losses, just like in the Forex matter the exposure was RM270 billion and the losses RM30 billion.”
