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7th Rangers: Explaining the facts behind liabilities of RM1 trillion by Lim Guan Eng
 
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Just roll to your rifle

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" “We are not retreating. We are advancing in another direction.”

“It is fatal to enter any war without the will to win it.”
“Old soldiers never die; they just fade away.
“The soldier, above all other people, prays for peace,
for he must suffer and be the deepest wounds and scars of war.”
“May God have mercy upon my enemies, because I won't .”
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“Nobody ever defended, there is only attack and attack and attack some more.
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Rather we should thank God that such men lived.
The Soldier stood and faced God
Which must always come to pass
He hoped his shoes were shining
Just as bright as his brass
"Step forward you Soldier,
How shall I deal with you?
Have you always turned the other cheek?
To My Church have you been true?"
"No, Lord, I guess I ain't
Because those of us who carry guns
Can't always be a saint."
I've had to work on Sundays
And at times my talk was tough,
And sometimes I've been violent,
Because the world is awfully rough.
But, I never took a penny
That wasn't mine to keep.
Though I worked a lot of overtime
When the bills got just too steep,
The Soldier squared his shoulders and said
And I never passed a cry for help
Though at times I shook with fear,
And sometimes, God forgive me,
I've wept unmanly tears.
I know I don't deserve a place
Among the people here.
They never wanted me around
Except to calm their fears.
If you've a place for me here,
Lord, It needn't be so grand,
I never expected or had too much,
But if you don't, I'll understand."
There was silence all around the throne
Where the saints had often trod
As the Soldier waited quietly,
For the judgment of his God.
"Step forward now, you Soldier,
You've borne your burden well.
Walk peacefully on Heaven's streets,
You've done your time in Hell."

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Explaining the facts behind liabilities of RM1 trillion by Lim Guan Eng
Friday, May 25, 2018
Malaysiakini : COMMENT | The former prime minister Najib Abdul Razak has issued a statement criticising the present government’s announcement that our debt is now RM1 trillion.
He said it “will just unsettle the financial markets, alarm the credit rating agencies and investors' confidence in our institutions, such as our Bank Negara Malaysia”. We would like to explain that the new government will carry out our administration based on the principles of competency, accountability and transparency (CAT). We want to establish the true baseline on the state of financial affairs, diagnose the problems and then prescribe all necessary remedies. Let me take this opportunity to explain the RM1 trillion worth of liabilities as of Dec 31, 2017, as previously announced.
1. The official federal government debt is RM686.8 billion (50.8 percent of the gross domestic product, or GDP).
2. In addition, the government is already committed to paying for government guarantees for various entities that are unable to service their debts. This amounts to RM199.1 billion (14.6 percent of GDP). The committed government guarantees would include entities such Danainfra Nasional Bhd (RM42.2 billion), Govco Holdings Bhd (RM8.8 billion), Prasarana Malaysia Bhd (RM26.6 billion), Malaysia Rail Link Sdn Bhd (RM14.5 billion) as well as an estimated RM38 billion for 1MDB. Based on the two items above, the federal government debt would amount to RM885.9 billion. This represents the 65.4 percent of the GDP as highlighted by Prime Minister Dr Mahathir Mohamad yesterday.
3. However, in addition to the above, the federal government is also committed and obligated to make lease payments (including rental, maintenance and other charges), for a whole list of “Public-Private Partnership” (PPP) projects such as the construction of schools, hostels, roads, police stations, hospitals, et cetera. The lease commitments which were designed specifically to circumvent the federal government guarantee and debt limits amount to RM201.4 billion (14.9 percent of GDP). Hence, the federal government debt and liabilities amount to a total of RM1,087.3 billion or 80.3 percent of the GDP as of Dec 31, 2017.
Read it all here, subscription required................
posted by Major D Swami (Retired) @ 10:21 AM  
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