Tabung Haji Buys 1MDB Land

The same with me, I am not in business of defending 1MDB or Tabung Haji.

However, in my view, the inability to address the questions made when it matters has caused any party that have business with 1MDB in serious risk.

Yes, as I mentioned in my tweets, what is the point of 1MDB having assets more than liabilities, when the assets can’t be monetized and generate income.

Sooner or later, the liabilities will catch up, but if assets can’t generate income as planned (especially when people view any dealings with 1MDB as high risk), “assets is more than liabilities” will be no more!

SeaDemon Says

I look at the above issue from a layman’s point of view. A slightly different layman that is. When I saw the headlines that discussed this issue I asked myself, “What the heck? Tabung Haji has lots of investments and has invested in many things other than the 1MDB land at the Tun Razak Exchange (TRX).  How the 1MDB acquired the land, at what price whatsoever to me should be left aside as that is not the crux of the matter.  The question now is of Tabung Haji’s decision to acquire the land.

Firstly it was reported that Tabung Haji, or TH, had acquired two pieces of land at the TRX for a hefty sum of RM772 million.  Initially, the Chairman of TH, Abdul Azeez Abdul Rahim denied such a deal was made.  A day later the CEO of TH, Johan Abdullah, admitted that only one parcel was purchased at RM188.5…

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One thought on “Tabung Haji Buys 1MDB Land

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