Michael Peel and Jeevan Vasagar
Financial Times
February 15, 2016

The chief executive of BSI, the Swiss private bank, was jubilant about its foray into Asia. So much so that he wrote to a star employee in Singapore who had helped lead the effort. “I wanted to personally thank you for your immense contribution not only to the growth of our new Asia business, but to BSI Group as a whole,” enthused the December 2011 letter from Alfredo Gysi, who is now BSI’s honorary chairman.

What a difference four years makes. Today that same bank official in Singapore, Yak Yew Chee, is battling a criminal investigation by the city-state’s authorities on suspicion that he benefited “from criminal conduct”. Read the rest of this entry »

The most important messages Johore Pakatan Harapan wants to send out from tonight’s Chinese New Year Open House in Muar is firstly, the three constituent Pakatan Harapan political parties of DAP, PKR and AMANAH are determined to ensure that Johor will be the front-line state in the battle for political change culminating in the 14th General Election by 2018.

Until the 12th General Election in 2008, UMNO and Barisan Nasional were so cocky and arrogant about their political stranglehold in Johor that they campaigned for a “Zero-Opposition” Johor in the election campaign.

But the political tables have been turned and there has been such a sea-change in politics in Johor that in the 14th General Election, the great challenge in Johor is whether Pakatan Harapan can succeed in toppling the UMNO-BN government in Johor.

The second message is that if UMNO/BN falls in Johor in the 14th General Election, there is no way UMNO/BN can continue to have the parliamentary majority to form the Federal Government in Putrajaya.

The road to Putrajaya in the 14th General Election must be traversed therefore through the road to victory in Johor!

Thirdly, the message we want to send out to Johorians and Malaysians is that the greatest objective in the 14th General Election is not whether Pakatan Harapan can replace UMNO/BN in Johore State and Putrajaya Federal Governments, but whether Malaysians, regardless of race, religion, region and even politics are capable of uniting on a common national platform to “Save Malaysia” from becoming a failed state because of rampant corruption and widespread socio-economic justices and a “rogue state” where there is no Rule of Law and those in power can abuse their powers with impunity.

“Save Malaysia” from becoming a failed and rogue state must now be the rallying cry for all Malaysians, starting from Johor, and I am glad that more and more Malaysians are taking up this patriotic call before it is too late. Read the rest of this entry »

Oleh Yunus Tasim
Free Malaysia Today
February 10, 2016

Harapkan pegar, padi dimakan semua. Bila bapak borek, rakyat kan rintik melata!

Apa dah jadi dengan Negara kita?
Bila wang berbillion di katakan derma
Masuk akaun peribadi bukan satu tapi dua
Setelah sekian lama mengarang cerita
Semuanya serba tak kena
Apa lagi untuk diterima dan dipercaya
Tiba-tiba wang dipulang semula
Kepada penderma yang tak tahusiapa
Katanya Arab yang dah kaya raya
Kan lebih baik diberi kepada rakyat yang melara Read the rest of this entry »

Malaysians are aghast at the reaction of the Deputy Prime Minister, Datuk Seri Zahid Hamid who seemed to side with the Attorney-General Tan Sri Mohamad Apandi Ali who wants to amend the Official Secrets Act (OSA) to impose heavier punishments on whistleblowers and journalists to deter them from leaks to combat corruption, particularly grand corruption in Malaysia.

Zahid even slammed those who opposed and criticized Apandi for gunning for whistleblowers and journalists, accusing them of “trying to politicize” the Attorney-General’s interview with Sin Chew Daily where he announced proposals to increase penalties under the OSA 1972 to include life imprisonment and 10 strokes of the rotan to deter whistleblowers and journalists for leaking and publishing information about corruption.

Zahid said the Attorney-General’s decision should be respected, adding:

“The AG’s agenda is to enforce the law and not to politicise an issue and be inundated with the politicised interpretation of the issue, and this should not be seen as a political issue by anyone, including the opposition.”

Zahid cannot be more wrong.

Apandi’s proposals should be pilloried and castigated to the maximum extent possible by all national stakeholders as they signal a dangerous lurch towards dictatorial rule in the country and go against everything that the Prime Minister, Datuk Seri Najib Razak, had promised when he became the sixth Prime Minister some seven years ago.

Is Zahid unaware of Najib’s pledge to make Malaysia “the best democracy in the world” and in particular, the Prime Minister’s statement in September 2011 about the “political transformation” his government was undertaking from the aspects of human rights because of “the increasing maturity of the people”.

Now that Zahid is the Deputy Prime Minister, it may be useful for him to read up on Najib’s various pledges and promises of reform he made in his first six years as Prime Minister. Read the rest of this entry »

Far from having been resolved and ceasing to be issues, thanks to the Prime Minister, Datuk Seri Najib Razak, the focus of Malaysians before, during and after the Chinese New Year of Monkey 2016 is firmly and solidly on Najib’s world-class twin mega scandals on the RM2.6 billion “donation” and RM55 billion 1MDB.

There are not only no signs that Najib’s twin mega scandals will end as the premier issues any time soon, all indications point to the reverse – that the twin mega scandals would bulk ever bigger in magnitude and impact to haunt and hound the future of Malaysia as the fulcrum of the country’s multitude of political, economic, good governance and nation building crises.

Almost every day, new angles are surfacing to decry the dismal failure to give full and satisfactory accountability so as to put to rest Najib’s twin mega scandals, which only serve to highlight the great gulf between the profession and reality of Najib’s National Transformation Programme objective of “1Malaysia. People First. Performance Now”.

In the past 24 hours, the questions that surfaced include: Read the rest of this entry »

Lindsay Murdoch
Sydney Morning Herald
February 7, 2016

Bangkok: Mystery has deepened over the circumstances in which almost $US700 million ($990 million) was secretly deposited in the personal bank account of Malaysian Prime Minister Najib Razak.

The country’s attorney-general, Mohamad Apanda Ali, has declared the money was a donation from one of the nine sons of the late Saudi king Abdullah, but insists the motive is nobody else’s business.

“Why are people asking for the reason for the donation? You have to ask the donor. He has billions in his coffers … if he wanted to give the money, what’s the problem?” Mr Apandi told the Sin Chew Daily newspaper.

Saudi Arabian Foreign Minister Adel al-Jubeir says he does not think the money came from the Saudi government or that it was a political donation.

“It is a private Saudi citizen, I believe, and the funds went into an investment in Malaysia,” Mr Jubeir told The New York Times. Read the rest of this entry »

By: Simon Wilson
Money Week
06/02/2016

A state fund transferring a $681m donation to the PM’s account, dissenting ministers sacked and $4bn misappropriated – Malaysian democracy is under threat, says Simon Wilson.

What’s going on in Malaysia?

The government of Prime Minister Najib Razak has been rocked by a huge corruption scandal that gets more bizarre with every new twist, threatening to blow a hole in Malaysia’s credibility with international markets. At its heart is a state investment fund known as 1MDB, set up at Razak’s behest shortly after he came to power in 2009, and whose advisory board he chairs. Its purpose
was to borrow money so that it could attract foreign investment to stimulate Malaysia’s economy.

But according to The Wall Street Journal, which has been at the forefront of investigating and reporting the scandal, while 1MDB was good at borrowing money, it has been less adept at actually investing it. In early 2015, it defaulted on payments on the roughly $11bn it had raised from international investors, setting off alarm bells and sparking investigations into the fund. Read the rest of this entry »

By AUSTIN RAMZY
New York Times
FEB. 5, 2016

KUALA LUMPUR, Malaysia — After Malaysia’s attorney general cleared Prime Minister Najib Razak of corruption charges involving hundreds of millions of dollars that ended up in his bank accounts, Mr. Najib issued a statement of his own.

“The matter has been comprehensively put to rest,” he said last week. “It is time for us to unite and move on.”

That has not happened.

Instead of answering the questions about the money and its possible links to a heavily indebted Malaysian sovereign wealth fund, the attorney general’s announcement has only sharpened them. Read the rest of this entry »

Geraldine Amiel and Pooi Koon Chong
Bloomberg
February 5, 2016

French financial prosecutors said they have started a formal probe into whether bribes were paid by Thales SA officials to secure the sale in 2002 of two submarines to Malaysia for more than $1.2 billion.

Prosecutors placed former Thales International Asia President Bernard Baiocco under investigation for “active corruption of foreign governmental officials” and are seeking to determine if “kickbacks” were used to win the contract, a spokesman for the French national prosecutor’s office said Friday, asking to remain anonymous in line with office policy.

Malaysian Prime Minister Najib Razak, who was defense minister in 2002, is a suspect in the case, a French official said, asking not to be named because of the sensitivity of the investigation. The Financial Times reported earlier that Najib is suspected of receiving one of the bribes, along with his associate Abdul Razak Baginda.

Najib’s office said the allegations were “baseless smears for political gain.”
Read the rest of this entry »

Andrea Tan and Pooi Koon Chong
Bloomberg
February 5, 2016

Bank accounts frozen. Bankers quizzed. As offshore authorities seek to track money flows involving Malaysia’s troubled government investment fund, fresh questions are rising about doing business in the country.

Crisscrossing countries from Switzerland to the U.S., Middle East and Singapore, investigators are chasing a trail of transactions linked to 1Malaysia Development Bhd. With the probes potentially running for years, investors and analysts say it may damage the perception that Malaysia is trying to become a more transparent place.

The risk is political, economic and commercial. Debt-ridden 1MDB, which is in the process of being broken up, was touted as the vehicle for the government to spur growth, investing mainly in property and power generation. Prime Minister Najib Razak — who has faced a separate furor over a $681 million personal donation from the Saudi royal family — sits on its advisory board.

The premier was cleared of any graft, and $620 million of the funds were returned. He and 1MDB have consistently denied any wrongdoing.

“The scandal has thrown Malaysia’s governance failings – both political and economic – into sharp relief,” said Nicholas Spiro, a partner at London-based Lauressa Advisory Ltd. “The 1MDB scandal raises the stakes significantly.” Read the rest of this entry »

Iain Marlow
The Globe and Mail
Feb. 04, 2016

Singaporean authorities this week seized a number of bank accounts linked to Malaysia’s beleaguered state investment fund, 1Malaysia Development Bhd., as part of an ongoing international investigation into alleged corruption that has ensnared Malaysian Prime Minister Najib Razak.

The move is the latest twist in a global investigation centred on an unusual payment of $681-million (U.S.) from accounts and companies linked to 1MDB into the private accounts of Mr. Najib, who founded and chairs 1MDB. As the investigations continue, Malaysia’s government has undertaken a widespread crackdown on dissidents and dismissed critical politicians – outraging human-rights groups. The eventual conclusion of a domestic investigation by the country’s Attorney-General – that the cash was a donation from Saudi Arabia’s royal family, and has since mostly been returned – has not stopped other investigations by U.S. and Swiss authorities. Read the rest of this entry »