Irwan Serigar and the Wanda deal

Irwan Serigar leaked confidential information regarding the Bandar Malaysia-TRX deal to anti-government portal The Malaysian Insight to burnish his diabolical plot. Irwan also lied to the Prime Minister by saying that IWH-CREC violated the terms of the agreement, which is why their agreement must be terminated. Irwan purposely did not pre-warn the Prime Minister about the anticipated reaction of the Chinese government regarding the abortion of the deal with IWH-CREC because he was was positioning Dalian Wanda-Malton to take over.


Raja Petra Kamarudin

On 8th May 2017, The Malaysian Insight said, “MoF removes Arul Kanda from Bandar Malaysia, TRX boards in deal fallout.” How did Jahabar Sadiq get this story? Simple, the Treasury Secretary-General, Dr Mohd Irwan Serigar Abdullah, leaked this to The Malaysian Insight because he wanted to remove Arul Kanda Kandasamy as the Chairman of Bandar Malaysia and board member of TRX City.

To most this came as a surprise because Arul had done a good job over the last two years in turning around 1MDB and bringing it back to profitability and viability. But then Irwan wanted to do an under-the-table deal and Arul was in his way. Therefore Irwan had to get rid of Arul so that there are no obstacles to his deal.

To answer the question as to why Arul had to be removed, Irwan planted this story in The Malaysian Insight:

Putrajaya has removed Arul Kanda Kandasamy from the Bandar Malaysia and Tun Razak Exchange company boards, citing ‘potential conflicts of interest’ in the fallout from the aborted Bandar Malaysia deal with the IWH-CREC consortium.

However, he remains president of 1Malaysia Development Bhd (1MDB), the scandal-hit state investor taken over by the Ministry of Finance (MoF) last year. Arul Kanda was Bandar Malaysia Sdn Bhd board chairman and TRX City board member.

Sources told The Malaysian Insight that the decision was made by Finance Minister Najib Razak and Treasury secretary-general Irwan Serigar Abdullah, who also heads the 1MDB board of directors.

“There are potential conflicts of interest,” a source told The Malaysian Insight.


Did Irwan go to Beijing to link up with Dalian Wanda?

That ‘source’ who leaked this story to The Malaysian Insight, as mentioned in that last paragraph, is actually Irwan himself. And what was Arul’s so-called ‘potential conflicts of interest’? The fact that ‘potential conflicts of interest’ is in inverted commas shows that it is a farce. And note the part where The Malaysian Insight said, “1Malaysia Development Bhd (1MDB), the scandal-hit state investor.”

It almost sounds like something Clare Rewcastle Brown of Sarawak Report would say. Why the need to emphasis ‘scandal-hit’?

‘Potential conflicts of interest’ is actually a lame excuse and a farce. The truth is, Irwan wanted to torpedo the deal with IWH-CREC so that he could give it to the Dalian Wanda-Malton group instead. And he needed an excuse to do that plus he needed Arul out of the way.

According to what Irwan told Prime Minister Najib Tun Razak, and as reported by The Malaysian Insight, “The MoF terminated a 2015 share sale agreement between TRX City and IWH-CREC Sdn Bhd on May 3, saying the deal had lapsed as the joint venture had not fully completed the RM7.41 billion purchase of 60% equity after 12 extensions.”

The fact that Irwan rushed to terminate the deal with IWH-CREC smells very fishy. The 1st of May was a holiday and within a day later Irwan made his move and announced it the following day on grounds that IWH-CREC had defaulted. But then Irwan met up with Dalian Wanda-Malton in April to negotiate them taking over even before the date of the so-called default. There seems to be more than meets the eye here and it stinks to high heaven.

This so-called violation is actually a lie and a story fabricated not only to justify the cancellation of the deal but to mislead Najib. And Najib did not find out the truth until he made his recent visit to China and the Chinese Premier, Li Keqiang, told him what was going on. By then it was too late because it was already a fait accompli. Irwan had taken the Prime Minister for a ride and Najib had to find this out from his Chinese counterpart.

“Bandar Malaysia may see more changes to its equity structure – which may include the return of its original master developer IWH-CREC – after Prime Minister Datuk Seri Najib Tun Razak met with Chinese leaders in Beijing, reported The Star on 15th May 2007 in its story, Glimmer of hope for IWH-CREC.

The Star also said:

“Chinese Prime Minister Li Keqiang told Najib that China hopes the deal on Bandar Malaysia stays unchanged. Najib may have to take the Chinese wishes into consideration,” said a government source in Beijing. (READ MORE HERE)

It must have been a very embarrassing moment for Najib. This Irwan chap had sold him a donkey and called it a thoroughbred Arabian stallion. Najib must have wondered why it was braying instead of neighing. And now Najib knows.

On 3rd May 2017, the Finance Ministry announced that it had called off a deal to sell a 60% equity stake in Bandar Malaysia to a consortium comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China state-owned China Railway Engineering Corporation (CREC). And the Chinese government was not too pleased with this, especially with the lame excuse that Irwan had given. It looks like Irwan has just triggered a diplomatic disaster between Malaysia and Chinese, all because he had his own deal on the side and wants to torpedo the deal with the Chinese national company.

Fast bikes and fast women is Irwan’s favourite pastime

Not many may have heard of this Irwan chap but he is actually very popular with the girls. He has more than 7,000 young girls on his Instagram and he spends many hours a day communicating with them. One wonders where he has the time to run the more than ten companies he is on the board of, six of them where he holds the Chairmanship. On top of that he has his job in the Finance Ministry plus his Chairmanship in Bandar Malaysia and TRX City and the Chairmanship of the Income Tax Department or LHDN.

In fact, his LHDN story is most amusing. Irwan wanted a certain very beautiful woman named Liyana to be appointed as his liaison officer but then she was not qualified enough so it could not be done. Irwan was pissed big time so he had the LHDN boss removed for not giving him the woman he wanted.

Nur Fazura has a special place in Irwan’s heart and on his office desk

On Irwan’s office desk is a framed picture of an actress, Nur Fazura. Visitors to his office find it strange that someone would put a picture of an actress on his desk instead of a picture of his wife or family.

Irwan needs to impress the world that he is a lady’s man so these trimmings and trappings are very important to him. Bankers who make appointments to meet him have said that if it is a male making that appointment then he would not be given an appointment. However, Irwan would never turn down requests for appointments from women. In fact, not only will he meet them but he will suggest that they meet outside the office for a drink.

What is Soraya’s link with Irwan?

The hot talk in town is regarding Soraya Munday, who Irwan introduced for a corporate finance job in a GLC. The word is if you are a sexy young woman and you need help, all you have to do is call Irwan and consider it done. It makes one wonder how many sweet young things Dalian Wanda sent to meet Irwan to be able to sabotage the IWH-CREC deal. And at the drop of a panty IWH-CREC was replaced with Dalian Wanda-Malton group.

Najib should be very careful about giving important jobs to someone who can’t keep his pecker in his pants. And if Najib is not careful this Bandar Malaysia-TRX matter might turn into a second disaster after 1MDB in 2014. Just as Arul finished cleaning up 1MDB and turned it back to profitability and viability, we are beginning to see another disaster looming over the horizon.