Archive for June 4th, 2015

MALAYSIA: AS THE ECONOMY WEAKENS, AUTHORITARIANISM CREEPS IN

Posted by Kit in Anwar Ibrahim, Elections, Human Rights, Judiciary, Media, Najib Razak on Thursday, 4 June 2015

by Nithin Coca
Equal Times
2 June 2015

First, it was the opposition leader Anwar Ibrahim. Then, senior journalists and editors at the country’s top independent media website.

Bloggers followed, even a political cartoonist.

Over several months, Malaysia’s leaders have, piece-by-piece, used colonial-era laws to turn the country, long considered one of the shining lights of south-east Asia, firmly towards authoritarianism.

“Over the past year, the government has harassed, targeted and even imprisoned a wide range of individuals considered possible ‘threats’ – including opposition politicians, human rights defenders, lawyers and journalists,” said Josef Benedict, Asia-Pacific Campaigner for Amnesty International, based in Malaysia’s capital city of Kuala Lumpur.

Behind this unprecedented crackdown are signs of a ruling party losing grip on power, as its rule, built on an economy dependent on natural resource exports and a fragile racial and religious balance, threatens to unravel. Read the rest of this entry »

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Now that the government has finally admitted that the PM is the final approving authority for 1MDB transactions, are Cabinet meetings in March and May on 1MDB chaired by Najib valid, proper and legal because of conflict of interest?

Posted by Kit in Financial Scandals, Najib Razak, Parliament on Thursday, 4 June 2015

For the first time in six years, the government, through the Second Finance Minister, Datuk Seri Husni Hanadzlah in his TV1 interview on “1MDB: Di mana wangnya?” last night, has finally admitted that Datuk Seri Najib Razak as the Prime Minister is the final approving authority for 1MDB deals, investments and transactions.

Husni said the Prime Minister represents the Government, which is why his written approval is needed for any financial deal undertaken by the 1Malaysian Development Bhd (1MDB).

This is a very lame and poor excuse, for by this reasoning, there must be umpteenth government companies which have the same provision as 1MBD which provides under Clause 117 of its Memorandum and Articles of Association (M&A) that the Prime Minister must give his written approval for any 1MHD deals, including the firm’s investments or any bid for restructuring.

If the Prime Minister has to give his “written approval” for the deals of umpteenth government companies, he would have little time to be Prime Minister proper.

As far as I know, 1MDP is the first case where the Prime Minister’s “written authority” is needed for any financial deal undertaken by a government company. I understand there is a second such case of a government company with such a provision which also happened under Najib’s tenure as Prime Minister.

I am prepared to stand corrected, but can Husni, who seems to be relishing his role in a new bout of transparency of the Najib government, clarify this matter and if I am right, explain this phenomenon as well as identify the second company which has this 1MDB Clause 117 provision requiring the Prime Minister’s “written consent” before any deal or restructuring before the country is landed with another major financial scandal. Read the rest of this entry »

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