Malaysian Government pretends 1 MDB does not exist.Budget 2016 a worthless document for the exclusion

by Ganesh Sahathevan



The extract at the link below from the Economic Report 2015-2016 details the position of the Malaysian Government's Non-Financial Public Corporations (NFPC,formerly NFPE). The financial position of the NFPCs are incorporated in full  into the national accounts,and comprise a major chunk of the total public sector debt, asset and income position.

By its own definition the Malaysian Government ought to have included  1 MDB in the public accounts but did not.It is as if the company does not exist. 

Given the magnitude of that entity's  borrowing, debt defaults,and likely contingent liabilities, the 2016 Budget announced on Friday is a worthless document..

http://www.treasury.gov.my/pdf/economy/er/1415/jp6_13.pdf




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