Archive for category Financial Scandals
Call on Najib to convene special Parliament meeting before National Day on August 31 to debate the country’s burning issues, including Najib’s twin global scandals, the NSC Act and worsening racial/religious polarisation highlighted by Pahang mufti’s incendiary “kafir harbi” statement
I call on the Prime Minister, Datuk Seri Najib Razak to convene a special Parliament meeting before National Day on August 31 to debate the burning issues in the country, including Najib’s RM55 billion 1MDB and RM4.2 billion “donation” twin global scandals, the National Security Council (NSC) Act and the worsening racial/religious polarisation in the country highlighted by the Pahang mufti’s incendiary “kafir harbi” statement.
Parliament adjourned on May 26 and is next scheduled to reconvene on Oct. 17 – a recess of some five months.
In an era of fast-changing developments, especially with many burning national issues crying out for answers and solutions, it is the height of irresponsibility for Parliament to adjourn for as long as some five months and this is why Najib should convene a special meeting of Parliament before National Day on August 31, where the two newly-elected MPs from Sungai Besar and Kuala Kangsar can officially take their oath of office.
There are many national burning issues awaiting answers or resolutions, and I will touch on three of them. Read the rest of this entry »
When a Wall Street star left under a cloud, the ‘smoking gun’ was a letter destined for our bad bank
A senior ex-Goldman Sachs banker who quit the Wall Street firm after being investigated over a falsified assurance letter – which, it is believed, he had sent to a European bank to assist a Malaysian tycoon’s bid to purchase property from Nama – has become embroiled in a $6bn global embezzlement probe.
Tim Leissner, who had close ties to the Malaysian sovereign wealth fund 1MDB and was considered Goldman Sach’s point man in Singapore dealing with the fund, was interviewed on January 19 this year in relation to “inaccurate and unauthorised statements” made by him in a June 2015 reference letter.
According to filings with the Financial Industry Regulatory Authority, the US securities industry’s self-regulating body, the letter was written without Goldman Sach’s knowledge or approval.
Sources close to the case said Leissner’s letter had included details about the finances of his client, who is believed to be well-known Malaysian tycoon Jho Low, while overstating the extent to which Goldman Sachs had done due diligence on him.
The letter, which vouched for Low and his finances to a financial institution in Europe, was to be used to help Low reach a deal to buy real estate from the National Asset Management Agency, it is believed. Read the rest of this entry »
by John Letzing
Wall Street Journal
June 23, 2016
BSI says Finma actions are “unlawful” and “disproportionate”
ZURICH—BSI SA, a Swiss bank embroiled in the legal controversy surrounding Malaysian state investment fund 1Malaysia Development Bhd., said on Thursday that it is appealing “flawed” actions taken against it by Switzerland’s financial regulator.
The Swiss regulator, Finma, issued a sternly worded statement in May, saying that BSI had committed “serious” breaches of money-laundering regulations in its dealings with the Malaysian fund, 1MDB, and had executed a number of large transactions for the fund “despite clearly suspicious indications.” Finma ordered BSI to pay 95 million Swiss francs ($99 million) in profits tied to its business with 1MDB to Switzerland’s public coffers.
Finma also said it was starting enforcement proceedings against two unidentified former managers at the Lugano-based bank.
On Thursday, BSI said Finma’s communication about actions taken against the bank “has severely harmed the reputation of the bank and its employees.” BSI added that it “challenges Finma’s assessment of the facts, and holds that the measures [Finma] ordered are unlawful and disproportionate.”
BSI said it has lodged its appeal with the Swiss Federal Administrative Court. A BSI spokesman declined to comment further on what remedies the bank is seeking.
A Finma spokesman said that its decisions can be challenged and are subject to judicial review, and declined to comment further. Read the rest of this entry »
The 1MDB Colloquium held in Sungai Besar and Kuala Kangsar on 11th and 12th June 2016 respectively, which was graced by many distinguished speakers have raised many pertinent issues with regards to the Government’s complete lack of accountability with 1MDB.
The recent global developments over 1MDB made it even more imperative for Dato’ Seri Najib Razak to explain what he has refused to explain for more than a year.
We, the undersigned, are citizens of Malaysia demanding clear and direct answers by the Prime Minister, Dato’ Seri Najib Razak and his Cabinet on the following pressing questions on 1Malaysia Development Bhd (1MDB) and Najib’s US$1 billion deposits into his personal bank account:
1. Who will pay if 1MDB loses the arbitration case with Abu Dhabi’s International Petroleum Investment Corporation (IPIC)?
On 14 June 2016, IPIC has filed its US$6.5 billion worth of claims against 1MDB in London’s Arbitration Court. IPIC is seeking US$3.5 billion bond plus interest that amounts to US$4.8 billion, the US$1.2 billion loan plus interest, and about US$481 million owed to its subsidiary, Aabar Investment PJS.
The above claims followed the discovery that 1MDB has made as much as US$3.5 billion of payments to a fraudulent British Virgin Island incorporated entity, Aabar Investment PJS Limited, which IPIC has denied ownership. Read the rest of this entry »
Five “atomic bomb” issues for the AMANAH candidates to hurl at Najib in Parliament if they are elected as MPs on Saturday
PKR Secretary-General and MP for Pandan Rafizi Ramli created quite a stir when at a Kuala Kangsar by-election ceramah, he said that if the AMANAH candidate, Ahmad Termizi Ramli, who is a nuclear physicist, is elected, he would be asked to hurl an “atomic bomb” at the Prime Minister, Datuk Seri Najib Razak in Parliament.
Everybody had a good laugh as they knew that it was a figure of speech, meaning that Ahmad Termizi would be raising in Parliament mega Najib scandals and wrongdoings, as it would be physically impossible for any human being to “hurl” any atomic bomb at anyone in Parliament – as an atomic bomb will be too heavy for any human being to hurl it around as if Termizi is a superhuman weight-lifter. For example, the two atomic bombs, “Little Boy” and “Fat Man” dropped on Hiroshima and Nagasaki which ended the Second World War in Asia-Pacific in 1945, weighed more than 10,000 pounds each!
But there are cretins who took Rafizi literally as even to lodge police reports as if
Rafizi was issuing a grave threat threatenning the life and limb of the Prime Minister (if so, even DAP leaders will be the first to deplore Rafizi’s speech) and what is even more shocking, the Police took the police reports of the cretins so seriously that Rafizi had been questioned by the police and there is even a possibility that Rafizi may be charged in court for an action which would be the first in the world – for issuing a threat through use of figurative language.
We will wait to see what the Police and the Attorney-General will do in this case, but there is no doubt that if Azhar Shukor and Ahmad Termizi Ramli are elected as MPs in Sungai Besar and Kuala Kangsar respectively, they will be expected to raise issues and scandals of “atomic-bomb proportions” in Parliament. Read the rest of this entry »
The SOPA awards for WSJ and Tom Wright for their investigative reports on the 1MDB scandal is “a slap in the face” and as good as an international vote of no confidence in Najib as Prime Minister
Another world recognition for Wall Street Journal’s (WSJ) reporting on the 1MDB global scandal in Malaysia is another nail in the coffin of Malaysia as the new kleptocracy in global society.
In fact, the Society of Publishers in Asia (Sopa) awards for WSJ and its Asian edition economics editor Tom Wright for their investigative reports on the 1MDB scandal is “a slap in the face” and as good as an international vote of no confidence in Najib as Prime Minister.
Unless the Prime Minister himself can conduct town-hall meetings in Sungai Besar and Kuala Kangsar these two days and give full and satisfactory accounting on the nations’ first global financial scandals – the RM55 billion 1MDB and RM4.2 billion “donation” twin scandals – and why there had been a string of adverse international developments and censures for Malaysia over the 1MDB’s global embezzlement, money-laundering and corruption, the voters of Sungai Besar and Kuala Kangsar by-elections on Saturday should stand up and speak with one voice on behalf of 30 million Malaysians to reject the UMNO candidates to send a clear and unmistakable message, viz:
“Enough is Enough. Malaysians have enough of the endless adverse international developments over the 1MDB scandal and want Najib to bring a closure to all the allegations of 1MDB embezzlement, money-laundering and corruption before the 59th National Day on August 31, 2016 or he should step down as Prime Minister on the 59th National Day!” Read the rest of this entry »
Arul Kanda’s unprecedented appearance in Sungai Besar a triple admission of the impact of the Colloquium on 1MDB scandal in Sekinchan, the lack and loss of credibility of government explanation on 1MDB scandal as well as 1MDB impact on Saturday’s by-elections
The unprecedented appearance of the 1MDB president and executive director Arul Kanda in Sungai Besar is a triple admission – the impact of the Colloquium on 1MDB scandak in Sekinchan last Saturday which was opened by former Prime Minister Tun Dr. Mahathir Mohamad, the lack and loss of credibility of government explanation on the 1MDB global scandal as well as the 1MDB impact on Saturday’s by-elections.
The 1MDB president and executive director’s programme in Sungai Besar showed that Arul Kanda’s job is more a PR one than to really solve the global financial scandal, especially as it is the Prime Minister, Datuk Seri Najib Razak himself who is sitting on top of the mountain of 1MDB debts and problems since the very start of the so-called national sovereign fund some seven years ago.
Why is Arul Kanda acting like “a thief in the night” refusing to comment when asked by the press whether he was campaigning for UMNO/Barisan Nasional in the Sungai Besar by-election, when his job should be to resolve Malaysia’s greatest global financial scandal in the nation’s history?
As 1MDB is a 100% government company, Arul Kanda is finally paid from the taxpayers’ monies and no more than a public servant.
As such, he should owe his loyalty to the 30 million Malaysians and not just to his formal employers – the 1MDB, the Ministry of Finance or the Prime Minister himself.
Can we expect Arul to give the 30 million Malaysians, who are his final employers, a full and unvarnished account of the woes of 1MDB, and how a “strategic” national sovereign fund should end up in such pathetic straits, threatening to drag the country to precedented debts and economic woes and liabilities? Read the rest of this entry »
June 14, 2016
Malaysian Prime Minister Najib Razak said he hasn’t abused his leadership positions, according to court documents filed as part of his defense againsgraft allegations made by his biggest critic, former premier Mahathir Mohamad.
Najib is seeking to dismiss a lawsuit filed by Mahathir and two others in March accusing him of misuse of power and interference in investigations into a troubled state investment company, said the statement filed on Monday and distributed by his lawyers on Tuesday.
The premier has battled corruption accusations and fended off efforts by Mahathir over the past year to have him removed him from office. Najib has denied wrongdoing and was cleared by the attorney general this year over revelations that $681 million appeared in his accounts before the 2013 election. The Barisan Nasional coalition won that vote by its slimmest margin yet and lost the popular vote for the first time.
Najib “actively and deliberately” sought to derail probes by local agencies into 1Malaysia Development Bhd. as well as the money that ended up in his private accounts, Mahathir’s lawyers said in a statement in March. Mahathir and two former officials of Najib’s party, the United Malays National Organisation, are seeking damages of at least 2.6 billion ringgit ($634 million) plus interest to be paid to the government. Read the rest of this entry »
by Shamim Adam
June 14, 2016
Abu Dhabi’s sovereign wealth fund, embroiled in a debt payment dispute with 1Malaysia Development Bhd., is seeking $6.5 billion from the troubled Malaysian state investment company as it moves the spat into arbitration.
1MDB and its sole shareholder — Malaysia’s Ministry of Finance — haven’t perform their obligations toward International Petroleum Investment Co. PJSC, the Abu Dhabi fund said in a London stock exchange filing on Tuesday. IPIC and unit Aabar Investments PJS submitted the request to the London Court of International Arbitration, it said.
The Malaysian investment fund and IPIC are locked in a tussle that spilled over to repayments on bonds issued by 1MDB. That led to a default in April, adding to the financial scandals for the Malaysian company that’s already a target of global probes into alleged money laundering and embezzlement. 1MDB has denied wrongdoing. Read the rest of this entry »
Call for a “1MDB Giant Octopus Tribunal” as the RM55 billion 1MDB global financial scandal is like a giant octopus with its eight tentacles wrapped so tightly around the country’s personalities and institutions that Malaysia can only free and save itself if it could escape the strangling embrace of the giant octopus
The RM55 billion 1MDB global financial scandal, which included Najib’s RM4.2 billion “donation” scandal, is like a giant octopus with its eight tentacles wrapped so tightly around the country’s key personalities and institutions that Malaysia can only free and save itself if it could escape the strangling embrace of the giant octopus.
The Second Colloquium on 1MDB scandal is to explore how to bring a closure to the nation’s first global scandal, which had been hounding and haunting the country for the past six years.
I can envision the eight victims which are caught in the suffocating embrace of the eight tentacles of the giant 1MDB octopus, viz:
1. the Prime Minister, Datuk Seri Najib Razak;
2. UMNO whose leadership at the national, state and even divisional levels have been co-opted or compromised;
3. MCA, Gerakan, MIC and other Barisan Nasional component parties which is why no MCA, Gerakan or MIC Minister or leader dare to have a confrontation with the UMNO leadership over the Minister in the Prime Minister’s Department, Datuk Seri Azalina Othman Said’s Ministerial motion in Parliament on May 26 to fast-track Hadi’s hudud motion or to requisition an emergency meeting of Barisan Nasional Supreme Council with the dual objective to firstly, restore the status quo ante by reaffirming the Barisan Nasional’s 43-year consensus that hudud is against the Malaysian Constitution and not suitable for multi-religious Malaysia and secondly, to repudiate and sack Azalina for her Ministerial motion which violated BN spirit and consensus.
4. PAS President Datuk Seri Hadi Awang, the only opposition leader to come to the defence of Najib over the RM55 billion 1MDB scandal. As a result, Hadi has moved closer to Hadi, resulting in the Najib-Hadi plot of Hadi’s hudud bill in Parliament on May 26. Read the rest of this entry »
If Najib is given the same MACC treatment as Guan Eng in connection with corruption allegation for RM2.8 million bungalow, the Prime Minister would be questioned for 12.3 years for his RM4.2 billion “donation” scandal
When DAP PJ Utara Member of Parliament and Public Accounts Committee, Tony Pua, spoke just now about the failures of the various national institutions in the 1MDB scandal, whether Malaysian Anti-Corruption Commission (MACC), Bank Negara, the Police, Attorney-General’s Chambers or even the Public Accounts Committee (PAC), I thought about the three-day interrogation spanning some 23 hours of the Penang Chief Minister and DAP Secretary-General Lim Guan Eng by MACC officers in connection with the corruption allegations about his RM2.8 million bungalow.
If Najib is given the same MACC treatment as Guan Eng in connection with the corruption allegation for his RM2.8 million bungalow, the Prime Minister would be questioned 12.3 years for his RM4.2 billion “donation” scandal.
This is because Najib’s RM4.2 billion “donation” scandal is 1,500 times bigger than Guan Eng’s RM2.8 million bungalow allegation, and if Najib is given the same MACC treatment as Guan Eng where the Penang Chief Minister was questioned for three days, Najib will have to be questioned 1,500 x 3 days, yielding 4,500 days. This works out to 12.3 years – imagine Najib going in and out of MACC office to be questioned for 12 years and four months, from wake up in the morning to retirement for sleep at night, and doing nothing else!
Another panelist, journalist P. Gunasegaram spoke about the 1MDB embezzlement, money-laundering and corruption offences being instituted in foreign countries, and how it is most surreal that in Malaysia, we continue the pretense that these almost daily 1MDB developments all over the world do not exist.
This seems to be the success of the global cover-up of the 1MDB global financial scandal, but it is something which is not sustainable and cannot last. Read the rest of this entry »
The DNA of the present MCA leadership is not only different from the DNA of DAP leadership, but have mutated and degenerated as compared to the DNA of the early MCA leadership
The MCA President, Datuk Seri Liow Tiong Lai made a very immature and uninformed statement in Jerlun in the Kuala Kangsar by-election campaign when he said that PAS and AMANAH “share the same DNA”, and asked the voters not be duped by DAP once again.
Liow said that liberal factions do not exist within AMANAH or PAS, claiming that “there are only two factions in PAS and AMANAH – extreme or more extreme”.
It is sad that we have national leaders in government in a plural society who do not understand the struggle that is ongoing, not only in Malaysia but world-wide, between an open, broad-minded and inclusive understanding of Islamic politics and a closed, narrow-minded and exclusive exposition of Islamic politics.
In Tunisia, the Ennahda or Renaissance Party, a moderate Islamist political party which is the largest in the Tunisian Parliament, just held a historic national congress under its President Rached Ghannouchi pioneering the development of Islamic politics by separating its religious activities from political ones. Ghannouchi described Ennahda as a “political, democratic and civil party” although its point of reference remain rooted in the values of ancient and modern Islam.
It is worth noting that Tunisia, whose population is 99.8 per cent Muslims, does not have hudud.
One of the leaders of Ennahda, Said Ferjani, in a dialogue with DAP leaders during his visit to Malaysia last August, said ensuring peace and freedom of religion should be the priority in politics, especially among Islamists, even more than implementing hudud.
He refuted assertions that the Islamic penal code should be a prerequisite of faith, relating that even Prophet Muhammad did not implement hudud during his time as a state ruler.
What do we have in Malaysia? A revival of the hudud debate following the success of the Najib-Hadi plot in Parliament on May 26 to distract national attention from Malaysia’s first twin global financial scandals – the RM55 billion 1MDB scandal and the RM4.2 billion “donation” scandal of Prime Minister Datuk Seri Najib Razak. Read the rest of this entry »
What has Najib or PMO got to say on WSJ’s correction to say that the US$3 billion bond fund raised by Goldman Sachs went to BSI Bank in Switzerland and not Singapore, and part of it eventually landed in Najib’s personal bank accounts?
What has the Prime Minister, Datuk Seri Najib Raak or the Prime Minister’s Office got to say on Wall Street Journal’s correction to say that the US$3 billion bond fund raised by Goldman Sachs went to BSI Bank in Switzerland and not Singapore, and part of it eventually landed in Najib’s personal bank accounts?
The Wall Street Journal (WSJ) has issued a correction, stating that the US$3 billion bond fund Goldman Sachs raised for 1MDB went to BSI Bank in Switzerland and not Singapore as initially reported.
In its correction, WSJ said its article earlier had “incorrectly stated the money was sent to 1MDB’s account at the private bank’s Singapore branch”.
The WSJ stood by the allegation that part of the US$3 billion sent to Switzerland (and not Singapore) ended up in offshore accounts that eventually landed in Prime Minister Najib Abdul Razak’s personal bank accounts. Read the rest of this entry »
If AMANAH/Pakatan Harapan candidates can win in Sungai Besar and Kuala Kangsar, it will be an important signal that Malaysia is ready to become a normal democratic country where voters can change government through the ballot box like other developed countries
Sungai Besar is the most marginal and most unsafe parliamentary seat in the Peninsular Malaysia won by UMNO in the 13th General Election while Kuala Kangsar is eighth on the list of UMNO’s most marginal and unsafe seats in Peninsular Malaysia.
If the AMANAH/Pakatan Harapan candidates can win in Sungai Besar and Kuala Kangsar parliamentary by-elections, it will be a major signal that Malaysia is ready to become a normal democratic country where voters can change the government through the ballot box like other developed countries.
It will also mean that the AMANAH or Pakatan Harapan candidates stand a good chance to win the 10 most marginal and most unsafe parliamentary seats won by UMNO in Peninsular Malaysia, namely:
1. Sungai Besar
2. Kuala Selangor
3. Pasir Gudang
4. Bagan Serai
8. Kuala Kangsar
Many people look at this list and conclude that these seats are not winnable, but I belong to those who look at the list and think of the ways Pakatan Amanah can win in these ten seats. Read the rest of this entry »
By WILLIAM PESEK
June 8, 2016
Goldman Sachs finds itself ensnared in the 1MDB scandal which threatens to squeeze the nation’s credit rating.
Goldman Sachs is sharing its giant vampire squid with Najib Razak’s government in Malaysia.
The investment colossus has found itself at the scene of many a scandal – a financial Forrest Gump, if you will. From U.S. Treasury bidding probes to Greece’s debt crisis to the subprime meltdown, Goldman’s bankers were there reaping fortunes behind the scenes. In a 2009 Rolling Stone piece, Matt Tiabbi famously branded it “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”
Make that Malaysia, too. As the Wall Street Journal reports, U.S. officials are probing whether Goldman broke the law by not alerting authorities about dodgy dealings at state investment fund 1Malaysia Development Bhd.
It’s the latest reminder of how Prime Minister Najib’s 1MDB mess is wrapping its tentacles around an entire nation. The unpredictable ways in which it threatens to drag Southeast Asia’s third-biggest economy under, like some massive vampire squid, can be seen in Putrajaya’s balance sheet. Could it even lead to a credit downgrade? Read the rest of this entry »
Sungai Besar is the third most marginal and unsafe UMNO seat won in the 13GE and a miraculous Amanah victory in the Sungai Besar by-election will send out four messages affecting the political future of Malaysia
I was drinking coffee at the AMG Cafe opposite just now, and suddenly, I got to thinking what I was doing in Sekinchan after 50 years in Malaysian politics, fighting a by-election which everybody says will be won by the UMNO/BN candidate – and even the MCA President, Datuk Seri Liow Tiong Lai is boasting about a “flow-back” of support of Chinese voters for UMNO/Barisan Nasional in Sungai Besar and Peninsular Malaysia, just like what happened in the recent Sarawak state general election last month.
Am I wasting my time in Sekinchan and Sungai Besar and should I just call it a day after 50 years in politics? After all, I am not getting any younger – already past 75 years old!
It will be very difficult and uphill battle – in fact a political “miracle” – for the Amanah and Pakatan Harapan candidate, Azhar Shukor, to win in the Sungai Besar by-election on June 18, and among the reasons are:
1. Sungai Besar parliamentary seat had always been an UMNO/BN stronghold, and UMNO/BN candidates had never lost in a parliamentary contest in this area for the past six decades since Merdeka in 1957.
2. Even at the height of the Opposition power in the 2013 General Election in May 2013, when there was Pakatan Rakyat, UMNO/BN won the Sungai Besar parliamentary seat although by a wafer-thin majority of 399 votes.
3. Now, Pakatan Rakyat (PR) is no more – thanks to the refusal by the PAS President, Datuk Seri Hadi Awang to be true and faithful to the Pakatan Rakyat Common Policy Framework agreed by the three component parties of PR, DAP, PKR and PAS and his unilateral insistence to push for the implementation of hudud law.
4. Although a new opposition coalition, Pakatan Harapan (PH) had been formed to replace PR with the establishment of Parti Amanah Negara, AMANAH is the youngest political party in the country started less than nine months ago. Both Pakatan Harapan and AMANAH are untested political entities in Malaysia. Could they do better than PAS and PR in the 2013 General Election?
5. Although the Opposition candidate who lost by a wafer-thin majority of 399 votes in Sungai Besar in the 13th General Election came from PAS, the 18,296 votes secured by the PAS candidate or 48.6% of the votes cast against the 18,695 votes won by the UMNO candidate, the 13th General Election score was the highest ever achieved by PAS candidates who had been contesting in the area in past elections because in the 2013 General Election, the PAS candidate was standing as a Pakatan Rakyat candidate with support from DAP and PKR as well. Read the rest of this entry »
Call on Sungai Besar and Kuala Kangsar voters to speak and vote on behalf of all Malaysians to demand Najib give full and satisfactory accounting for his RM55 billion 1MDB and RM4.2 billion “donation” twin global scandals or to step down as Prime Minister of Malaysia
The Sungai Besar and Kuala Kangsar voters should speak and vote on behalf of all Malaysians in the two by-elections on June 18 to demand that the Prime Minister, Datuk Seri Najib Razak give full and satisfactory accounting for his RM55 billion 1MDB and RM4.2 billion “donation” twin global scandals or step down as Prime Minister of Malaysia.
In both by-elections, the battle is between the Amanah and Barisan Nasional candidates as far as the 1MDB and “donation” twin global scandals are concerned, as the two topmost PAS leaders have not only become the “advisors” but the “defenders” of Najib in these two mega scandals!
I do not know whether Najib deserves the credit as he has achieved world-class notice for Malaysia which none of the five previous Prime Ministers, including his father Tun Razak, had ever done in five decades – international notoriety as one of world’s top countries infamous for global corruption.
Wherever one goes in the world, Malaysia is now equated with the notorious and infamous RM55 billion 1MDB and RM4.2 billion donation scandals – which have been described by the international financial news agency, Bloomberg, as one of the “world’s biggest financial scandals”.
Everybody knows that the RM55 billion 1MDB scandal is huge, but how huge is it? Read the rest of this entry »
After resignation of Mustapha Kamil as NST group editor over 1MDB global scandal, who is the next journalist of mainstream media who will take a stand for integrity, truth, transparency and good governance?
After the resignation of Mustapha Kamil as New Straits Times group editor over the 1MDB global scandal at the end of last month, who is the next journalist of the mainstream media, whether print or electronic, who will take a stand for integrity, truth, transparency and good governance?
In his Facebook posting on May 31, Mustapha said he had received numerous private messages enquiring why he opted to leave New Straits Times early, and he related “the final moments” before he tendered my resignation “from a place I had until then treated as my second home”.
“On the morning of April 25th I walked into the CEO’s room with my resignation letter in hand. We sat and talked about my wish for a good one hour where naturally, the CEO enquired why I had wanted to do so.
“The CEO is a chartered accountant, a man who took his job very seriously, one who is adept with numbers and besides heading the company, someone whom I also considered a friend…
“There were two things I related to him that morning. First, just as he, a chartered accountant, would not hesitate to qualify a set of flawed accounts, signing each of them not only by his name, but also by the ethics enshrined within the professional body in which he was a member, I too take journalism ethics seriously.
“In my line of work, there is this element called the ‘truth discipline’. It is one that requires a journalist to be correct, right from the spelling of names of persons or places, to all the reports he must file. His responsibility is first to the truth, by which he must then guide society in navigating the path they had chosen.
“Second, I told him that I had weighed the situation for as long as I could but when an American newspaper, headquartered somewhere in Lower Manhattan in New York, wrote a story that got nominated for the coveted Pullitzer Prize, about an issue that happened right under my nose, I began to seriously search my conscience and asked myself why was I in journalism in the first place. Read the rest of this entry »
Najib’s denial syndrome worst of all six Malaysian Prime Ministers when he could regard Singapore and Swiss crackdowns on multibillion ringgit 1MDB embezzlement, money-laundering and corruption as “a problem of noise”
Prime Minister Datuk Seri Najib Razak’s denial syndrome is the worst of all six Malaysian Prime Ministers when he could regard Singapore and Swiss crackdown on multibillion ringgit 1MDB embezzlement, money-laundering and corruption as “a problem of noise”.
Replying to a question on what his government was doing to re-establish the trust of investors at a panel discussion at a World Economic Forum meeting in Kuala Lumpur yesterday, Najib said the overall trajectory for Malaysia and the rest of Southeast Asia was positive, and he pointed to the long-term trend of rising foreign investment in his country as an expression of confidence.
He said: “The problem is a problem of perception, the problem is a problem of noise. The noise level is rather high, I admit it. But it belies the strong fundamentals and commitment [of] the Malaysian government to continued reforms.”
The Prime Minister cannot be more wrong, and he must be told in no uncertain terms that his premiership is now a liability and no more an asset to foreign investors weighing their options about their investments in Malaysia – unless he can come clean on the various financial and mismanagement scandals haunting and hounding the country for over a year. Read the rest of this entry »
A Colloquium on the RM55 billion 1MDB scandal should be held separately in Sungai Besar and Kuala Kangsar for Malaysians to understand how Malaysia had been catapulted to be among the world’s top nations notorious for global corruption
If Prime Minister, Datuk Seri Najib Razak is granted the proverbial “three wishes”, one of them will be to wish that the RM55 billion 1MDB global scandal which includes his RM4.2 billion “donation” scandal would be buried long and deep and would not continue to hound and haunt him almost on a daily basis.
There is hardly a day where there is no news on one aspect or other on the 1MDB scandal.
Yesterday for instance, there were at least three news items on the 1MDB scandal, starting early in the morning with the Bloomberg report that “1MDB scandal taking toll on Malaysian stock market as foreigners sell”, followed up by the Finance Ministry announcement of the replacement of the 1MDB Board of Directors to pave the way for the dissolution of the national sovereign fund and thirdly, the opening of the Official Secrets Act trial of the PKR MP for Pandan, Rafizi Ramli.
The triple items served as yesterday’s daily reminder to Malaysians that despite all Najib’s greatest efforts to sweep the issue under the carpet, the 1MDB scandal, which has catapulted Malaysia to the top of the world as one of the leading nations notorious for global corruption, will not go away – whether inside the country or in the world as illustrated by the recent world-wide crackdowns against IMDB embezzlement, money-laundering and corruption in Singapore and Switzerland. Read the rest of this entry »