Archive for October 9th, 2015

Zeti should be brutally honest on what ails Malaysia, says global financial mag

The Malaysian Insider
9 October 2015

Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz should be brutally honest about the issues plaguing the country, said Euromoney in its October edition, as the ringgit continues its freefall and the economy begins to stutter.

The business and finance magazine said all this while, Zeti had been using words like “domestic factors” to describe the problems besetting the country, instead of saying that the predicament lies with debt-laden state owned firm 1Malaysia Development Fund (1MDB) and the RM2.6 billion donation in Prime Minister Datuk Seri Najib Razak’s personal accounts.

“Zeti has demonstrated through 15 matchless years of service that she is not one to pull her punches under political pressure.

“Now is not the time for her to start doing so. It would effectively mean that the BNM she tirelessly champions has not advanced at all.

“Zeti could go harder on what really ails the country. As Malaysia’s most trusted public official, she possesses something that the political class are in dire supply of – respect and moral authority,” the magazine said. Read the rest of this entry »


Great misfortune if instead of being a national wake-up call to Malaysians to rise above personal and party interests and unite to resolve the national confidence crisis, the historic Rulers’ Statement on Oct. 6 becomes a new source of national discord and division

It will be a great misfortune for Malaysia if instead of being a national wake-up call to all Malaysians to rise above personal and party interersts and to unite as Malaysians to resolve the national crisis of confidence, the historic Rulers’ Statement of Oct. 6 becomes a new source of national discord and division.

The government has taken more than 48 hours to craft an official response in the form of the statement by the Deputy Prime Minister, Datuk Seri Zahid Hamidi, who said that the probe on 1MDB must follow due process, and should not be hastened or delayed.

He said that any decree by the Conference of Rulers was viewed positively and the government had taken proactive steps to address it.

Such a statement actually says nothing, as it is the classic strategy of adopting a form of language which seems to agree with the concerns expressed by the Rulers while continuing with the directions and approaches which had given rise to the Rulers’ concerns in the first place.

The danger of the Rulers’ statement becoming a subject of national discord and division could be seen from the response of the UMNO Vice President and Defence Minister, Datuk Seri Hishammuddin Hussein who said it was presumptuous to say the Malay Rulers have lost trust in Prime Minister Datuk Seri Najib Razak’s leadership when they called for transparency in investigations into 1MDB and for wrongdoers to be punished. Read the rest of this entry »


Malaysia Arrests Another Critic of Prime Minister

Wall Street Journal
Oct. 8, 2015

KUALA LUMPUR—A prominent lawyer was arrested Thursday on charges of sabotage, his attorney said, after earlier planning to travel to the U.S. to help urge authorities there to investigate money transfers into Prime Minister Najib Razak’s alleged personal accounts.

The lawyer, Matthias Chang, was arrested after visiting a police lockup facility to see Khairuddin Abu Hassan, who was arrested and detained last month on the same charge. The two men had planned to fly together to the U.S., where Mr. Chang previously said Mr. Khairuddin aimed to try to persuade U.S. authorities to investigate transfers into Mr. Najib’s alleged accounts. Mr. Chang was acting as Mr. Khairuddin’s personal lawyer to make sure he complied with legal processes and laws oversees, Mr. Chang’s attorney Zainur Zakaria said.

Both men are being held under Malaysia’s sweeping Security Offenses (Special Measures) Act, which allows for them to be detained for 28 days, another lawyer acting for Mr. Chang said. Read the rest of this entry »

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