PETER SONDAKH DIDN’T CON NAJIB RAZAK ON SALE OF 37% OF EAGLE HIGH PLANTATIONS TO FELDA; THEY BOTH CONNED FELDA TOGETHER?
If you believe that the proceeds by FGV for the overpriced sale of 37% of EHP, went to Peter Sondakh alone, then you believe that pigs fly.
To pay in cash USD505 million at a 95% premium of the market price, against professional advice, simply means that part of the gross ‘profits’ is meant for the ‘sellers’.
You can call it ‘kickback’ or whatever. Felda’s hard-earned and borrowed money is now partly someone else’s. But it’s a typical way of corruption by people in positions of trust, and we did not even bother to mention it. Just send the bastards to prison.
But his latest Facebook posting, which we will not bother to reprint, somehow compels us to highlight that this man is severely delusional or has really gone bonkers, as if we are all idiots, blur like his believers.
He keeps referring to a Put Option that enables Felda to reverse the transaction and still make a profit of a few percent. It’s one of the oldest tricks in the book. A Put Option that is not worth the paper it is printed on!
Now that EHP is back to be not worth a pittance of its sale value, of what use is a Put Option? Wouldn’t the new management’s lawyers have gone through the S&P agreement with a fine tooth comb and started talking to Peter’s people wanting to exercise the Option? It had been to no avail.
In fact, Felda has done that in January and cited that certain Option conditions were not met. Peter turned around and said that he will challenge the Put Option in court. Would he have done that to a dear friend who assisted in the sale, unless that was part of the plan!
And what’s this about EHP really blooming now? Where in the world did he get that idea? Is he playing dumb or what? Maybe he was playing dumb to the fact that at the time of purchase, Felda was in severe debt of more than half a billion ringgit and could not afford the purchase?
But he may have twisted the arms of many at Felda and the ministry of finance, even to the point of arranging a Malaysian government loan for Felda’s purchase of his friend’s overpriced piece of shit.
Peter knew the way to Najib’s heart is to make the PM’s wife ecstatic. So, a 6-star St. Regis hotel in Langkawi with hidden proxies were built. Complete with access roads through the hills, built at government expense!
That’s after a RM300 million ringgit loan from Bank Pembangunan which Peter got for building the Langkawi International Convention Centre. Wonder if the loan is serviced at all. The collateral was not EHP shares, it is hoped.
The gall of it all. Najib writing all that bullshit in his posting, and then asking for it to be viralled. It must have been hoped by him that the Put Option is indeed proof that he never intended to cheat. What does he take us for?
Or is there a bossku sucker born every minute?