3 questions for new Cabinet
Posted by Kit in Financial Scandals, Good Governance, Najib Razak on Thursday, 9 July 2015, 9:32 am
Rama Ramanathan
The Malaysian Insider
9 July 2015
Because of 1Malayisa Development Bhd (1MDB), Prime Minister Datuk Seri Najib Razak must soon vacate his position. His successor will replace the Cabinet. What should we look for in the new Cabinet?
Of the many facts about 1MDB, I consider three to be especially pertinent: (1) the only money 1MDB ever had was borrowed – mainly from banks and partly from government agencies; (2) most of 1MDB’s profit is from revaluation of assets; (3) 1MDB overpaid for some assets.
I’ll consider each in turn. Read the rest of this entry »
Time for all progressive and patriotic political leaders to come together on a common programme to save Malaysia from becoming a failed state as a result of rampant corruption, abuses of power, socio-economic injustices and the collapse of good governance
Posted by Kit in Malaysian Dream, Najib Razak on Thursday, 9 July 2015, 8:32 am
Malaysia is undergoing rapid and even lightning political developments and changes.
Issues and concerns which were never thought of by Malaysians for years or even decades have overnight become popular concerns.
This is best highlighted by the headlines in online media and foreign news media in the past few days like:
• Malaysia’s Najib Razak fights for political life amid 1MDB claims
• A broken prime minister?
• Is it ‘Game Over’ for Najib?
• Can Najib Razak Survive 1MDB Scandal
• Malaysian Leader Faces Risk of Criminal Charges Over Fund
• Najib Appears Out But The Kleptocrats May Win
• MP urges AG to prosecute Najib, if proof found
• No surprise if Najib hauled to court, says veteran journalist
• Can the Agong act to depose a sitting PM?
In the past few days, I myself had posed questions which I had never done before:
• Whether the Attorney-General can charge and prosecute the Prime Minister although the Attorney-General is clearly empowered by the Constitution to do so; and
• Whether the Prime Minister will sack the Attorney-General first, if there is any inkling of such a possibility?
It is most unfortunate that at this pivotal period of national development to ensure that Malaysia does not become a failed state, drowned in the morass of rampant corruption, abuses of power, socio-economic justices and collapse of good governance, the two top leaders in PAS are giving the Prime Minister, Datuk Seri Najib Razak the strongest defence and support. Read the rest of this entry »
Has the MACC thrown even ethics out the window?
Posted by Kit in Corruption, Elections on Thursday, 9 July 2015, 6:12 am
By JD Lovrenciear
Malaysiakini
Jul 7, 2015
The Malaysiakini latest news report (Pre-polls goodies not graft, says MACC official, July 7, 2015) on how the Malaysian Anti-Corruption Commission (MACC) interprets corruption probably best sums up why this nation is all tangled up in a web of political turmoil laced with allegations of billions of ringgit gone missing. And in all likelihood then we may never get out of this sinking hole of corrupt practices.
According to the deputy chief in charge of prevention at MACC, pre-election promises and handouts by the government is not to be regarded as bribery.
For Mustafar Ali of MACC, a case of graft applies only when gratification is ‘given for the purpose of inducing the recipient to do something, or refrain from doing something’.
In other words, when the government gives out goodies in kind or cash close to or during election campaigns there is no inducement whatsoever. It is charity? It is some kind of goody-boy Santa at work? It is a reward to the citizens for being poor and deprived these past five years since the last voting exercise? Read the rest of this entry »
Najib, your time is up sir, Game Over!
Posted by Kit in Financial Scandals, Najib Razak on Thursday, 9 July 2015, 5:57 am
Dzulkefly Ahmad
The Malaysian Insider
6 July 2015
1. Granted, that the damning expose by both Wall Street Journal (WSJ) and Sarawak Report of the transfer of some US$700 million to Prime Minister Datuk Seri Najib Razak’s personal account heralded Najib’s Waterloo, is a fait accompli and foregone.
2. Perusing the sensational exposition, one couldn’t help thinking that it is neither concocted nor a decoy personally contrived by Najib to divert media attention. Purporting it as a political sabotage, by political nemesis, doesn’t reduce its grave consequences on Najib.
3. Going by its incriminating details conducted by investigators for the Malaysian authorities as reported, Najib has truly met his Waterloo. Yes, he has finally been nuked by 1Malaysia Development Berhad (1MDB), a monster or more appropriately a “trojan horse” he personally helped to create to “embezzle funds” for his “do-or-die” election mission of the 13th general election in 2013. Read the rest of this entry »
Investigate 1MDB disclosures comprehensively and with integrity
Posted by Kit in Financial Scandals, Najib Razak on Thursday, 9 July 2015, 5:24 am
– Steven Thiru
The Malaysian Insider
8 July 2015
The Malaysian Bar is extremely concerned over recent disclosures made by The Wall Street Journal (WSJ) and Sarawak Report (SR) of information contained in government investigation documents allegedly revealing that funds of about US$700 million (RM2.7 billion) were transferred between government agencies, banks and companies linked to 1Malaysia Development Berhad (1MDB), and then deposited into the personal accounts of the Prime Minister in AmIslamic Bank Berhad in March 2013.
It has also been reported that the original source of the funds is unclear and the subsequent use of the funds is unknown.
The prime minister said today, “… saya ingin menegaskan sekali lagi bahawa saya tidak pernah mengambil dana 1MDB untuk kepentingan diri sendiri” (I would like to stress again that I had never taken 1MDB’s funds for my personal interest).
However, it appears that the prime minister has not expressly denied that funds were deposited into his personal bank accounts. Read the rest of this entry »
Siapa untung jika Najib berundur?
Posted by Kit in Anwar Ibrahim, Mahathir, Muhyiddin Yassin, Najib Razak, Razaleigh Hamzah, Zahid on Wednesday, 8 July 2015, 3:33 pm
ANALISIS OLEH ZULKIFLI SULONG, PENGARANG ANALISIS DAN RENCANA
The Malaysian Insider
8 July 2015
Siapakah yang bakal mendapat manfaat daripada krisis dihadapi Perdana Menteri Datuk Seri Najib Razak sekarang?
Siapakah bakal dilantik perdana menteri sekiranya Najib terpaksa melepaskan jawatan ekoran skandal syarikat sarat hutang 1Malaysia Development Berhad (1MDB) yang sudah menjadi perhatian antarabangsa.
The Malaysian Insider cuba menyenaraikan tokoh yang mungkin mendapat manfaat sekiranya anak kepada perdana menteri kedua, Tun Abdul Razak Hussein berundur. Read the rest of this entry »
Najib has notched up another precedent, sending lawyers’ letter which is ambivalent whether it paves the way for the Prime Minister to sue or not to sue Wall Street Journal
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Wednesday, 8 July 2015, 1:20 pm
The Prime Minister, Datuk Seri Najib Razak has notched up another precedent, sending lawyers’ letter which is ambivalent whether it paves the way for the Prime Minister to sue or not to sue Wall Street Journal (WSJ) for publication of report that Malaysian government investigators have found almost US$700 million (RM2.6 billion) of 1MDB’s funds deposited into Najib’s personal accounts at AmBank.
According to Malaysiakini, Najib’s lawyers, the legal firm Hafarizam Wan & Aisha Mubarak has asked Dow Jones, the owner of WSJ, to respond with 14 days “whether it is your position, as taken in the articles, that our client misappropriated nearly US$700 million from 1MDB”.
Najib’s lawyers’ letter to Dow Jones said: “You will no doubt appreciate the seriousness of the allegation made against our client in the said articles and confirmation is sought to enable us to advise our client the appropriate legal recourse he can take to seek redress in relation to the publication of these articles.”
If UMNO Supreme Council member and Deputy Agriculture Agro-based Industries Minister Datuk Tajuddin Abdul Rahman is right that WSJ never implicated Najib, but only 1MDB, such a letter should not have been sent.
However, this letter was not what Malaysians had been led to expect with the various threats of legal action against WSJ for its report and allegation, especially as conspicuously absent is any forthright demand to WSJ to apologise for the defamation of the Prime Minister and withdrawal of WSJ report concerned with the undertaking not to repeat such defamation. Read the rest of this entry »
An evening with Zairil
Farouk A. Peru
The Malaysian Insider
8 July 2015
London has a thriving scene of Malaysian political activism. I began taking notice of it a few years ago when Datuk Seri Anwar Ibrahim to win over the London crowd.
Since then, much has changed. The Pakatan Rakyat (PR) which was just a newborn back has now met a timely demise.
However, I have to express admiration for DAP which is still going strong. They retained Penang in the 13th general election and have now weathered the breakup of PR.
Last Sunday, I steeled myself for a ride on the London underground to attend a talk by Zairil Khir Johari.
For those of you who don’t know, riding on the tube during hot London summers is like almost like a taking shower! Read the rest of this entry »
Six options for Ministers to prove that they are a Cabinet of model Malaysian patriots and leaders and not just a coterie of self-seeking politicians who cannot put national interests above personal and/or party interests
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Wednesday, 8 July 2015, 8:09 am
All eyes are on the first Cabinet meeting today after the Wall Street Journal report making unprecedented and ground-shaking allegation of embezzlement against the Prime Minister, Datuk Seri Najib Razak when it reported last Friday that Malaysian government investigators have found almost US$700 million (RM2.6 billion) of 1MDB’s funds had been deposited into Najib’s personal accounts.
Today’s Cabinet meeting is a test for all the Ministers, whether they are model Malaysian patriots and leaders who will always put national interests above party and/or personal interests or whether they are just a coterie of self-seeking politicians who are not prepared to take a public and patriotic stand on the great issues of the day.
And the greatest issue of the day is undoubtedly the RM42 billion 1MDB scandal, the WSJ allegation of embezzlement and Prime Ministerial misconduct and Najib’s failure after five long days, in an information age of 24/7 communication of information, to categorically clear himself of impropriety by declaring two simple things: (I) that it is untrue that some US$700 million (RM2.6 bilion) had been deposited into his personal bank accounts; and (ii) that he has no personal bank accounts in AmBank.
Yesterday’s announcement that the special task force of the quartet of investigating agencies (Bank Negara Malaysia, Malaysian Anti-Corruption Commission, Royal Malaysian Police and Attorney-General’s Chambers) into 1MDB and the allegation that RM2.6 billion of 1MDB funds had been transferred into Najib’s personal accounts, had frozen six bank accounts, three of them believed to belong to the Prime Minister, has cast a completely new complexion on the biggest Prime Ministerial crisis in the nation’s history.
Is the noose which the Wall Street Journal report had thrown around Najib’s neck getting tighter? Read the rest of this entry »
Parti baharu sangat dinantikan
Posted by Kit in PAS, Political Islam, Politics on Wednesday, 8 July 2015, 6:05 am
A Shukur Harun
The Malaysian Insider
7 July 2015
Pelbagai pihak, khususnya generasi muda, sedang menunggu-nunggu akan kelahiran parti baharu – Gerakan Harapan Baharu – yang dirancang diumumkan selepas hari raya ini.
Ini menunjukkan sebuah parti baharu yang mampu memberikan harapan masa depan kepada rakyat Malaysia sangat diharapkan. Iaitu ketika rakyat melihat dengan sangat bimbang pelbagai krisis yang menimpa negara yang tidak dapat diselesaikan oleh parti pemerintah, di tengah-tengah Pakatan Rakyat (PR) sendiri juga tidak habis-habisnya berkrisis.
Parti Gerakan Harapan Baharu ini dirancang penubuhannya oleh golongan progresif dan sederhana yang disingkirkan dengan penuh hina dalam muktamar PAS bulan Jun lalu.
Penubuhan parti ini juga untuk meneruskan legasi perjuangan Allahyarham Datuk Fadzil Mohd Noor dan Allahyarham Tuan Guru Nik Abd Aziz Nik Mat yang sangat terbuka dan demokratik serta berpandangan jauh ke depan. Read the rest of this entry »
Inquiry Into Malaysian Fund Also Puts Spotlight on Prime Minister
Posted by Kit in Corruption, Mahathir, Najib Razak on Wednesday, 8 July 2015, 5:44 am
by Austin Ramzy
New York Times
July 7, 2015
HONG KONG — Officials in Malaysia said on Tuesday that they had frozen bank accounts as part of an investigation into the country’s troubled development investment fund and accusations that hundreds of millions of dollars from the fund had been transferred to Prime Minister Najib Razak.
Government investigators have been looking into the finances of the heavily indebted 1Malaysia Development Berhad, also known as 1MDB. News reports have said that some of its funds have been routed to accounts controlled by Mr. Najib. Read the rest of this entry »
Yes, Prime Minister, you must sue!
Posted by Kit in Corruption, Financial Scandals, Media, Najib Razak on Wednesday, 8 July 2015, 5:37 am
— P Ramakrishnan
The Malay Mail Online
July 7, 2015
JULY 7 — Mere denials do not establish one’s innocence. Evidence must be established to dispel and nail false accusations and unfair allegations.
Unfortunately, denials are the only form of defence resorted to by people who are put on the spot whenever they are accused of corruption. They fail to understand that mere denials do not clear their name or safeguard their reputation.
This is something the Prime Minister must be mindful of. So must his coterie of supporters who mindlessly come to his rescue by denying and condemning others without any solid evidence to convince Malaysians that there is no shred of truth in what was claimed. Read the rest of this entry »
Call on IGP to re-open investigations into the murder of AmBank founder Hussein Najadi in broad daylight in centre of Kuala Lumpur on 29th July 2013 to ascertain whether it had any links with 1MDB scandal
Posted by Kit in Crime, Financial Scandals, Najib Razak on Tuesday, 7 July 2015, 5:30 pm
The situation faced by the Prime Minister Datuk Seri Najib Razak and his government today is best described by the Chinese expression “草木皆兵” – which literally means “every bush and tree looks like an enemy soldier” where the Najib Government is so nervous, suspicious, insecure and panicky about its position that it is virtually “jumping at shadows”.
This is the reason for the Najib government’s foolish and myopic decision to sabotage and frustrate the holding of a meeting of progressive MPs and NGO representatives on the grave Wall Street Journal (WSJ) allegation against Najib for Prime Ministerial misconduct and the criminal offence of embezzlement, by refusing MPs the use of Bilik Taklimat and reneging on the Parliamentary administration’s earlier agreement for the use of the meeting room for the occasion.
As a result, progressive MPs and NGO representatives have to hold their meeting at the Parliament square, sitting on the ground – unheard of for the Malaysian Parliament as well as commonwealth and global Parliaments.
Why is the Najib administration so jumpy and panicky about the meeting of progressive MPs and NGO representatives on the WSJ allegation and Najib’s future that MPs have been locked out of Parliament Bilik Taklimat and forced to meet in the open at the Parliament square? What has the Najib government got to hide and to be so panicky about!
This is the fifth day of the grave WSJ allegation of Prime Ministerial misconduct in committing the criminal offence of embezzlement in its report last Friday that Malaysian investigators have found almost US$700 million (RM2.6 billion) of 1MDB’s funds deposited into Najib’s personal bank accounts, and Najib’s failure to categorically deny the WSJ allegation.
Malaysians are all asking why Najib finds it so coy or difficult to put to rest once and for all the WSJ allegation of Prime Ministerial misconduct and the grave offence of embezzlement, when all he needs to do is to categorically deny that he ever had personal accounts in his name in AmBank or that some US$700 million (RM2.6 billion) had been deposited into his bank accounts in 2013. Read the rest of this entry »
Malaysia’s Najib Razak fights for political life amid 1MDB claims
Posted by Kit in Financial Scandals, Mahathir, Najib Razak on Tuesday, 7 July 2015, 8:29 am
by Michael Peel in Kuala Lumpur
Financial Times
July 6, 2015
Malaysia’s Prime Minister Najib Razak faces a struggle for survival amid growing fallout from allegations that hundreds of millions of dollars were channeled from a state development fund into his personal bank accounts.
Investigators of the escalating scandal at 1Malaysia Development Berhad have passed the country’s Attorney-General evidence relating to transfers totaling almost $700m shortly before the last elections.
Mr Najib has denied taking money for personal gain and has denounced the accusations as “a concerted campaign of political sabotage to topple a democratically elected Prime Minister”.
The Financial Times has not been able to independently verify the allegations. They have added to turmoil in Malaysian politics at a time when Mr Najib’s United Malays National Organisation faces a grave challenge to its near six-decade hegemony.
Analysts say the claims, reported on Friday by the Wall Street Journal and the Sarawak Report website, are potentially fatal for Mr Najib’s career. They appear to make the first direct link between the premier and the long-running scandal over how 1MDB racked up debts of more than $11bn. Read the rest of this entry »
Malaysia’s PM Extends Feud to Mahathir’s Son
Posted by Kit in Mahathir, Najib Razak, UMNO on Tuesday, 7 July 2015, 8:16 am
Asia Sentinel
July 2, 2015
Sources say government is delaying funds and slowing proposals in state Mukhriz controls.
The scorched-earth war between Malaysian Prime Minister Najib Tun Razak and his one-time mentor, former Premier Mahathir Mohamad, has extended to the northern state of Kedah, where Mahathir’s son, Mukhriz, rules as chief minister.
The federal government in Putrajaya reportedly has cut budget allocations to the state, one of the country’s poorest, and is dragging its heels on a proposal by Mukhriz to build an airport in the city of Kulim which Mukhriz deems crucial to boosting the local economy. Reportedly other economic initiatives have been blocked through the federal government’s refusal to pay full land premium for land that Mukhriz is attempting to convert to industrial uses. He is also encountering sniping from Najib forces in the state over his performance as chief minister
It was his father, Mahathir, who paved the way for Najib to become prime minister, first grooming him as defense minister, and then, in 2009 playing an instrumental role in driving his successor, Abdullah Ahmad Badawi from power. Anointed by Mahathir, Najib became prime minister only to lead the Barisan in 2013 to the first loss of the popular vote since 1969, although it retained its majority in parliament through gerrymandering. Read the rest of this entry »
Malaysian Leader Faces Risk of Criminal Charges Over Fund
Posted by Kit in Crime, Financial Scandals, Najib Razak on Tuesday, 7 July 2015, 8:03 am
by The New York Times,
Associated Press
July 5, 2015
KUALA LUMPUR, Malaysia — Malaysia’s prime minister is facing the risk of criminal charges over allegations that hundreds of millions of dollars were funneled from an indebted state fund to his personal bank accounts, the first time a Malaysian leader has faced criminal allegations.
The country’s attorney general confirmed late Saturday that he had received documents from an official investigation that made the link between Prime Minister Najib Razak and the investment fund 1MDB. The existence of the documents was first reported by The Wall Street Journal’s Asia edition on Friday, showing some $700 million were wired from entities linked to the fund into Najib’s accounts.
The documents sent to the attorney general pave the way for possible criminal charges.
It is one of the worst political crises for Najib, who has come under increasing criticism over his leadership.
Najib, who has denied taking any money for personal gains, said Sunday that he would consult with his lawyers to decide his next course of action on the “malicious accusations” against him. Read the rest of this entry »
Scandal in Malaysia
Posted by Kit in Corruption, Financial Scandals, Najib Razak, UMNO on Tuesday, 7 July 2015, 7:53 am
Wall Street Journal
July 5, 2015
Evidence that a state-owned fund diverted money to the Prime Minister.
The Journal broke the news Friday that Malaysian government investigators have discovered evidence of potential corruption involving Prime Minister Najib Razak. Almost $700 million linked to the state-owned investment fund 1Malaysia Development Bhd., or 1MDB, was allegedly transferred into his personal accounts. Neither the original source or ultimate destination of the money is clear.
Mr. Najib’s office put out a statement that “there have been concerted efforts by certain individuals to undermine confidence in our economy, tarnish the government and remove a democratically-elected prime minister.” It called the Journal article a “continuation of this political sabotage.”
The size of the alleged diversion is shocking, but the abuse of public entities for private gain is politics as usual in Malaysia. The scandal is a case study in the effects of one-party rule by the United Malays National Organization (UMNO) on the country’s institutions. Read the rest of this entry »
With demand for Najib to go on leave as Prime Minister pending investigations becoming increasingly more urgent and insistent, it is Najib’s loss if he does not use the ideal platform of the meeting of progressive MPs in Parliament tomorrow to categorically clear himself WSJ allegation of embezzlement
Posted by Kit in Financial Scandals, Najib Razak on Monday, 6 July 2015, 5:57 pm
The demand for Datuk Seri Najib Razak to go on leave as Prime Minister, and even to be prosecuted for criminal offences under the law have grown more urgent and insistent.
Divisions and relations in UMNO ranks are also becoming increasingly brittle, confrontational and even hostile.
Yesterday, another UMNO Minister who is also UMNO Vice President had broken ranks with Najib, joining the Deputy Prime Minister and Deputy UMNO President, Tan Sri Muhyiddin Yassin in expressing concern and calling for investigations into the Wall Street Journal allegations that US$700 million (RM2.6 billion) were routed to the prime minister’s personal bank accounts.
Datuk Shafie Apdal, the Minister for Rural and Regional Development, agreed that the WSJ allegations must be given “serious attention” as it involved Najib’s “image and credibility as prime minister”.
He even joined the Home Minister, another UMNO Vice President, in urging Najib to take legal action if the accusation and claim is untrue to clear the government of negative perception not only among the rakyat but also the international community.
Yesterday, even former Malacca Chief Minister, Tan Sri Rahim Tamby Chik called on Najib to temporarily vacate the Prime Minister’s post while the authorities investigate the WSJ allegations – until he is cleared in the investigations.
But the most serious development is the call by Universiti Islam Antarabangsa Malaysia (UIA) students in rallying behind Muhyiddin, urging him to take temporary control of the government. Read the rest of this entry »
Can Najib Razak Survive 1MDB Scandal?
Posted by Kit in Financial Scandals, Najib Razak on Monday, 6 July 2015, 11:45 am
Chris Wright | Contributor
7/05/2015 @ 5:28PM
Forbes
Najib Razak, Malaysia’s Prime Minister since 2009, is facing the greatest challenge of his leadership – and even the risk of criminal charges.
As we reported last week, Najib has been embroiled in the scandal surrounding the state investment fund 1MDB. The fund was already an embarrassment to him – not only has it run up $US11.6 billion in debts and attracted inquiries by four different institutions, from the auditor-general to the police, but Najib himself chairs the fund’s advisory board. But on top of that, last week he was alleged by the Wall Street Journal to have received almost $700 million of transfers from the fund into his personal bank accounts, much of it during an election campaign.
Read the rest of this entry »
Ten consequences of Greek referendum’s ‘No’
Posted by Kit in Finance, International on Monday, 6 July 2015, 11:11 am
— Mohamed A. El-Erian
Bloomberg
July 6, 2015
JULY 6 — By heeding their government’s advice and voting “No” in the referendum on Sunday, Greek citizens sent an unambiguous message. Much like the fictional Americans portrayed in the movie “Network” who threw open their windows and shouted out, “I’m as mad as hell and I’m not going to take this anymore,” the Greeks are demanding that the rest of Europe acknowledge their distress.
At this stage, however, only a handful of European leaders seem willing to listen; and even fewer appear willing to deliver the sort of relief that Greece desperately needs. The implications will be felt primarily in Greece, but also in Europe and beyond.
Here are 10 consequences of the vote that could unfold in the next few days:
1. The victory of the “No” camp—with more than 60 per cent of the vote, according to preliminary returns—will initially lead to a general selloff in global equities, along with price pressures on the bonds issued by Greece, other peripheral euro zone economies and emerging markets. German and US government bonds will benefit from a flight to quality.
2. Having been caught off guard, European politicians will urgently seek to regain the initiative: Chancellor Angela Merkel of Germany and President Francois Hollande of France will meet in Paris on Monday to work on a response. In a perfect world, these leaders would move quickly and effectively with the Greek government to get past the conflict and acrimony that preceded the referendum. This is likely to be difficult, given the mistrust, bad blood and damaging accusations that have poisoned the relationship. Read the rest of this entry »
