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Clamour over 1Malaysia Development Berhad falls on deaf ears

Michael Peel in Kuala Lumpur
Financial Times
10th July 2015

Malaysia is gripped by the biggest financial scandal in its modern history—although you might not know it from the reaction of Najib Razak’s
government.

Claims of large-scale misappropriation at a state investment fund now embroil the prime minister — but he and his administration are trying to shrug it all off by dismissing it as a political plot. That curt response to the ever-widening 1MalaysiaDevelopment Berhad affair tells of the grip on power enjoyed by the ruling United Malays National Organisation since independence in 1957.

“If there is no one shouting ‘I have been robbed’ why would anyone think there has been a robbery?” says Tony Pua, an opposition legislator, explaining the lack of official outrage over how a fund setup with the Malaysian people’s money came to be drowning in more than$11bn of debt. “That’s the problem at the moment.” Continue reading “Clamour over 1Malaysia Development Berhad falls on deaf ears”

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Apology that Pakatan Rakyat is dead but vow that PR Common Policy Framework aspirations for an united, inclusive, progressive, just and prosperous Malaysia will live on and continue to be basis of DAP struggle for a new Malaysia until there is a new government in Putrajaya

I want to apologise to the people of Malaysia that after seven years, Pakatan Rakyat is dead but we vow that the Pakatan Rakyat Common Policy Framework aspirations for an united, inclusive, progressive, just and prosperous Malaysia will live on and continue to be the basis of DAP struggle for a new Malaysia until there is a new government in Putrajaya.

We in the DAP recognize the political reality that under the present circumstances, no single race or even single political party can rule multi-racial, multi-religious and multi-cultural Malaysia and that the Federal Government from Putrajaya and the various state governments will have to be formed from a coalition of political parties.

DAP is prepared to be a partner of coalition governments, but it must be a coalition of common political principles and objectives and not a coalition of self-interests and political opportunism just to cling to political offices and position.

This is why the DAP Central Executive Committee at its meeting on June 15 took two decisions:

• Recognition that the PAS top leadership had killed Pakatan Rakyat after the PAS Muktamar resolution to sever ties with DAP and repeated violation by the top PAS leadership of the PR Common Policy Framework and the PR consensus operational principle in the past one year;

• Full support to the Selangor Mentri Besar Azmin Ali to reframe the Selangor state government with a new functioning coalition based on the PR Common Policy Framework and the Selangor Pakatan Rakyat general election manifesto.

Continue reading “Apology that Pakatan Rakyat is dead but vow that PR Common Policy Framework aspirations for an united, inclusive, progressive, just and prosperous Malaysia will live on and continue to be basis of DAP struggle for a new Malaysia until there is a new government in Putrajaya”

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Fissures appear in Umno as crisis deepens

By Bridget Welsh
Malaysiakini
Jul 10, 2015

COMMENT As Prime Minister and Finance Minister Najib Razak faces explosive allegations of embezzlement, corruption and electoral manipulation that go to the very core of his leadership and the legitimacy of his government, the country is plunged into yet another crisis.

Sadly crises have become common developments of the Najib government, whose responses to 1MDB even before the revelations by The Wall Street Journal (WSJ) brought to the fore questions of economic mismanagement which has undermined the reputation of the Malaysia’s financial institutions.

For many, the issue at hand is what Najib will do – he has already done serious damage to the country and unfortunately every day he stays in office, his leadership negatively affects the country’s reputation. Not only is Malaysia’s international credibility is on the line, its currency, access to foreign capital and future economic prosperity are at risk.

Unlike his father, Malaysia’s second premier Abdul Razak Hussien, Najib has apparently chosen to put himself first rather than the country. During his tenure, Najib has distinguished himself from Dr Mahathir Mohamad in his effectiveness in using the country’s political institutions to strengthen his personal position. He has indeed taken the office of the prime minister to a new low.

Najib deserves a fair and impartial investigation of the allegations made by WSJ. This can be done if he opts to go on leave during the investigation period and appoints respected impartial individuals to lead the investigation. Neither of these have been done so far, as the approach has been to issue denials, thus raising suspicions of a potential cover-up, and this sends conflicting signals about the investigation.

In a ‘fox guarding the hen house dynamic,’ members of the task force assigned to investigate are neither impartial nor distant from developments. In some cases, their job was to review these bank transactions and as such should also be subject to an independent investigation in their failure to act before the WSJ report. The lack on impartiality of the task force does not build credibility, especially in international markets.

Najib’s decision to hold onto power and stay in office compromises any investigation due to the inherent conflict of interests involved and this assures that any departure will be an even harder landing for himself, his family, his political party, Umno, and worst of all, the country. Continue reading “Fissures appear in Umno as crisis deepens”

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The Peninsula dominoes

— Liew Chin Tong
The Malay Mail Online
July 10, 2015

JULY 10 — Let’s be clear, elections are won or lost in marginal seats.

For the new Opposition coalition to form the next government which is stable and with a strong legitimacy, defeating Umno in the Peninsula has to be the priority.

But to cause Umno to fall like dominoes, we should not set our sights on its strongholds but work on where it is weakest: the marginal seats.

Umno won 88 seats nationally, of which 14 are in Sabah and one in Labuan. The rest of the 73 seats are in the Peninsula.

Of these 73 Peninsula seats, Umno would win at least 30 rural seats, which were “tailored-made” for Umno in the first place anyway, with the “built-in” Felda votes, postal votes and government machineries assisting Umno in campaign. The Opposition should forget about these 30 seats.

But the rest of the seats, which are mostly multi-ethnic, are ready to fall on the back of antipathy against Umno since 2008 among non-Malay voters and a Malay tsunami against the economic hardships imposed by the Umno government.

Of the 38 marginal seats which Barisan Nasional won with less than 10 percent margin in the last election, 32 are Umno seats.

This is the battleground where the next election will be fought.

Focusing on the middle ground with strong leadership, clarity in policy and a convincing message to unite all ethnic groups while riding on the wave of a brewing Malay revolt could just tilt the balance. Continue reading “The Peninsula dominoes”

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Survival, not politics or race, our concern, law grad tells DPM

by Anisah Shukry
The Malaysian Insider
10 July 2015

A video clip of a young Malaysian speaking of the financial struggles she and her generation face to an audience who included Tan Sri Muhyiddin Yassin is making its rounds on social media.
In the video by the Malay Economic Action Council (MTEM), the 23-year-old law graduate, who only identified herself as Zahra, told the deputy prime minister how she had grown increasingly disappointed and angry that the life she is living was not what she had envisioned as a student.

“The reality of the working world is not as beautiful as people expect it to be – on the contrary, it is torturous. Yes, I drive to the office, but the car is not mine. I am borrowing it and pay RM500 each month to my father for it.

“Usually, by the end of the month, I take the LRT to the office because my pockets are empty by that time. It has become a routine, and I am ashamed to face my parents. I should be taking care of them, not the other way around,” said Zahra, at an event organised by MTEM on June 17.

But she said she had no other choice, as her salary was not high despite years of toiling for a law degree.

Buying a house would remain a dream for years to come, she said, as even paying the RM500 monthly rent to stay in a house with seven others was a struggle.

“I know I’m not alone. Many of my friends are suffering. We don’t see a way out. My future and that of millions of other Malay youth is bleak.

“Honestly, we Malay youth don’t care about political or racial issues, because what matters to us is the issue of survival,” said Zahra. Continue reading “Survival, not politics or race, our concern, law grad tells DPM”

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“Be Very Afraid!” when “ignoramus” Ministers give empty assurances about special task force investigation when they may not even be qualified to comment because of conflict of interest


“Fear not, ministers will ensure task force does its job” is one headline for the assurance by the Youth and Sports Minister, Khairy Jamaluddin that the special task force probing allegations concerning 1MDB will do its job without fear or favour.

I say, “Be Very Afraid!” when “ignoramus” Ministers give empty assurances about the special task force investigation when they may not even be qualified to comment because of conflict of interest.

Khairy said the task force would have to report to Cabinet and that “we the ministers will be there to ensure that the investigation is done without fear or favour”.

What nonsense is Khairy talking about. How can the Cabinet Ministers ensure that the investigation is done “without fear or favour” when the Cabinet Ministers cannot ensure that the establishment of the task force is done “without fear or favour”?

The 35 Cabinet Ministers cannot be unaware that Malaysians have no confidence in the special task force because its four “Tan Sri” heads of the quartet of enforcement/investigating agencies, namely Bank Negara, Royal Malaysian Police, the Malaysian Anti-Corruption Commission and the Attorney-General Chambers are all junior, subordinate and beholden to Najib, whether as Finance Minister or Prime Minister, when Najib is in fact the “accused” in the investigations.

This is why Malaysians want independent and reputable Malaysians to investigate the Wall Street Journal allegation that US$700 million (RM2.6 billion) was deposited into Najib’s personal bank accounts in AnBank within two weeks of dissolution of Parliament on April 3, 2013. Continue reading ““Be Very Afraid!” when “ignoramus” Ministers give empty assurances about special task force investigation when they may not even be qualified to comment because of conflict of interest”

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Door for PAS still open, says Kit Siang

By Kow Gah Chie and Adrian Wong | 8:31AM Jul 7, 2015
Malaysiakini

INTERVIEW While DAP may have repeatedly proclaimed that Pakatan Rakyat is “dead”, the party does not rule out the possibility of teaming up with PAS in the future.

Asked whether DAP and PAS would form an alliance, for their fourth time, in the next general election, veteran DAP leader Lim Kit Siang said it was a possibility.
Continue reading “Door for PAS still open, says Kit Siang”

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Malaysia Premier Najib Under Fire: What You Need to Know

by Niluksi Koswanage Shamim Adam
Bloomberg
July 9, 2015

As Malaysian Prime Minister Najib Razak fights claims aired in a Wall Street Journal report that about $700 million in funds connected to a state investment company allegedly ended up in his personal bank accounts, here’s a guide on the key players in the furor and what to watch for.

Q: What is 1Malaysia Development Bhd. or 1MDB?

Najib chairs the advisory board of the debt-ridden state investment company. The Wall Street Journal reported July 3 that money may have moved through government agencies and companies linked to 1MDB before apparently appearing in Najib’s personal accounts. A task force investigating the claims visited 1MDB’s Kuala Lumpur headquarters on Wednesday and left with documents.

1MDB had its origins in the Terengganu Investment Authority, which was created in 2009 to invest oil royalties from the state of Terengganu. When Najib became prime minister that year it was renamed 1MDB, became a national entity and its funding source was changed to government-backed debt.

The company has courted controversy, accumulating $11 billion of debt in less than five years, paying a premium in the acquisition of energy assets, and criticized for overpaying Goldman Sachs Group Inc. to manage its bond sales.

1MDB flirted with default when it missed a loan repayment late last year and eventually settled it in February. It announced plans the same month to wind down, with asset sales or an initial public offering of its energy unit, and the spinning off of its property businesses. Its purpose was to serve as a catalyst for projects of strategic importance, it said Feb. 18, and it’s “achieved this.”

The auditor-general has been probing 1MDB’s finances since March. It is set to hand its interim report on Thursday to a parliamentary committee. Continue reading “Malaysia Premier Najib Under Fire: What You Need to Know”

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Najib should heed Musa Hitam’s advice and immediately go on leave as Prime Minister pending investigation by an independent commission of inquiry

Datuk Seri Najib Razak should heed the advice of his former mentor, former Deputy Prime Minister, Tun Musa Hitam that he should go on leave as Prime Minister pending investigation into the Wall Street Journal report and allegation of US$700 million (RM2.6 billion) deposited into his personal accounts in AmBank within to weeks of the dissolution of Parliament on 3rd April 2013 and his role and involvement in the RM42 billion 1MDB scandal.

Najib had accused former Prime Minister Tun Mahathir of “working hand in glove with foreign nationals” in “a concerted campaign of political sabotage to topple a democratically-elected Prime Minister”, but Najib cannot make such an accusation against Musa.

In an exclusive interview with The Malaysian Insider, Musa said Najib has three options: (I) to remain in office and fight the allegations; (ii) resign as Prime Minister; and (iii) go on leave pending investigations by a special government task force.

Musa personally would prefer if Najib takes the third option to allow for an open and transparent investigation, as he holds dear to the legal maxim that one is innocent until proven guilty and this applies to Najib. Continue reading “Najib should heed Musa Hitam’s advice and immediately go on leave as Prime Minister pending investigation by an independent commission of inquiry”

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Going on leave best of 3 options for Najib, says Musa Hitam

by V. Anbalagan
The Malaysian Insider
10 July 2015

Embattled Prime Minister Datuk Seri Najib Razak has three options to consider for his immediate future as he wards off allegations that US$700 million (RM2.67 billion) was transferred into his personal bank accounts, Tun Musa Hitam told The Malaysian Insider.

The former deputy prime minister said Najib could: 1) remain in office and fight the allegations, 2) resign as prime minister and, 3) go on leave pending the investigations by a special government task force.

On a personal note, Musa said he would prefer it if Najib took the third option to allow for an open and transparent investigation.

Speaking exclusively to The Malaysian Insider yesterday, the 81-year Musa said he could no longer sit quietly as the issue gripped the nation. Continue reading “Going on leave best of 3 options for Najib, says Musa Hitam”

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Najib, Misappropriation is Not the Main Issue

By Kee Thuan Chye
Malaysiakini
Jul 9, 2015

COMMENT A few things related to the Wall Street Journal’s expose of 1MDB funds having been deposited into Prime Minister Najib Razak’s private AmBank accounts are becoming clearer.

Najib has not denied that he received the US$700 million (RM2.66 billion). And that is very telling. Instead, he is constantly harping that he did not use the money for his personal interest.

He could be telling the truth there because the bulk of the money might have been used to finance Barisan Nasional’s campaign during the 13th general election (GE13) in May 2013.

But even so, it is wrong for him to receive the public funds – if he did receive them. It constitutes a crime. That is the main issue of the case. But he has not addressed it.

That is the issue that the special task force set up to investigate the scandal should focus on. But Najib has announced that the scope of the investigation is only to determine whether he misappropriated the funds for his own use. And this is the same line he is taking with WSJ. Continue reading “Najib, Misappropriation is Not the Main Issue”

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Excerpt 7: Culture Is Internally Consistent

by Bakri Musa
[email protected]
Jul 79, 2015

Every group of humans whether dwelling in the same cave or working for the same corporation must share some common goals, values, and worldview, as well as everyday routine practices. This is what culture means; it is the social glue that binds the members together and differentiates them from others. Far from being society’s oppressor, culture is its savior.

The human baby is not born a carnivorous hunter or a vegetarian ascetic anymore than it is born an Aryan or Chinese. The baby may have Aryan characteristics (sharp nose, blond hair, and blue eyes) or that of a Chinese (moon face, jet black hair, and epicanthic folds) but those features do not make what it will be. Whether that baby will turn out to be a proud bearer of a swastika or marches the streets waving Mao’s Little Red Book depends upon the culture in which it has been raised.

Tune to BBC News. If you close your eyes you would assume the announcer to be a lithe English lassie. Look at the screen and your preconceived images would be shattered for behind that flawless British voice might be a lady of African descent or a Semitic-looking Arab woman, minus the purdah of course. Continue reading “Excerpt 7: Culture Is Internally Consistent”

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Bekas setiausaha agung PKR dedah Anwar dihina ketika krisis Selangor

Thd Malaysian Insider
9 July 2015

Bekas setiausaha agung PKR Datuk Saifuddin Nasution Ismail mendedahkan Datuk Seri Anwar Ibrahim dikasari individu dipercayai presiden PAS Datuk Seri Abdul Hadi Awang ketika mahu membincangkan kemelut menteri besar Selangor tahun lalu.

Walaupun tidak menyatakan identiti Hadi secara langsung, Saifuddin mengimbas peristiwa ketika dirinya menemani ketua umum PKR berjumpa dengan individu terbabit untuk mengadakan perbincangan.

“Masih ingat saat aku menemani Datuk Seri Anwar berjumpa dengannya. Bagaimana Datuk Seri Anwar diaibkan dengan bahasa yang cukup kasar,” katanya dalam status Facebook hari ini.‎

Perbincangan itu dipercayai merujuk kepada ‎pertemuan singkat Anwar dengan Hadi di Terengganu untuk menukar jawatan menteri besar Selangor yang ketika itu disandang Tan Sri Abdul Khalid Ibrahim. Continue reading “Bekas setiausaha agung PKR dedah Anwar dihina ketika krisis Selangor”

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FAQ on WSJ’s money trail exposé

By Malaysiakini Team
Jul 9, 2015

On July 3, The Wall Street Journal (WSJ) dropped a bombshell on Malaysians by claiming that nearly US$700 million (RM2.6 billion) somehow made its way to bank accounts allegedly owned by our prime minister.

Given the complexity of the issue, Malaysiakini has compiled a series of questions sourced from our readers as well as our newsroom, and attempts to answer them.

1. What exactly was the WSJ report about?

The report claims that an ongoing probe by Malaysian investigators have traced nearly RM2.6 billion being transferred into what they believe to be Prime Minister Najib Abdul Razak’s personal bank accounts.

2. Are the accounts really owned by Najib?

The WSJ report does not say this with certainty. They note that remittance documents show account numbers, but does not name Najib.

However, they are in possession of flow charts, purportedly obtained from Malaysian investigators, which attributed the accounts to Najib.

Whistleblower website Sarawak Report, which published a similar report on the same day as the WSJ, claimed that the accounts – bearing the name AmPrivate Banking-1MY, AmPrivate Banking-MY and AmPrivate Banking-MR – indeed belonged to Najib.

3. Has Najib explicitly denied owning the accounts?

No.

4. Has Najib explicitly denied that the transactions took place?

No. Continue reading “FAQ on WSJ’s money trail exposé”

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Cabinet Ministers guilty of abysmal dereliction of duty by giving solid backing to the Prime Minister without knowing whether RM2.6 billion were deposited into Najib’s personal accounts in AmBank, where the monies came from and were they went to

One should thank the lawyers of the Prime Minister, Datuk Seri Najib Razak, for providing some relief to the long drawn-out (six years?), sordid, dreary and astronomical 1MDB scandal which is claiming more and more casualties in its wake, destroying reputations for integrity and even political and professional lives and futures.

The highly-publicised letter from Najib’s lawyers to Dow Jones, the owner of Wall Street Journal (WSJ), has become not only the toast of lawyers but of the international civil society as well.

There was no categorical demand for retraction of the WSJ report last Friday that Malaysian government investigators have found almost US$700 million (RM2.6 billion) deposited into Najib’s personal accounts at AmBank, unconditional apology for the defamation of the Prime Minister, undertaking of no repetition of the defamation and payment of damages, but a most extraordinary (Eric Paulsen of Lawyers for Liberty described it as “bizarre”) letter seeking clarification!

No one can describe the situation better than lawyer Azhar Harun (better known as Art Harun) who commented on Facebook this was the first time he found lawyers asking their potential opponent the meaning of what they had published. Almost every sentence made him cringe.

He said: “If I were acting for Dow Jones, I would advise them to reply as follows : Dear lawyers, inability to grasp and/or understand what we had published is not a known or established ground for defamation suits. Thank you.”

If more “relief” is needed, there is the top banker, CIMB Islamic Bank chief executive officer Badlisyah Abdul Ghani for everybody to joke about as Badlisyah joined the long queue of 1MDB casualties when in a matter of hours, he had to eat his own words for accusing WSJ of falling for false documents with regard to its report claiming that RM2.6 billion were deposited into Najib’s personal accounts in AmBank.

As if Fate has pity on Malaysia in having to suffer from the 1MDB scandal, Malaysians were presented with another “manna” today – the announcement that Najib is scheduled to speak at a high-profile international anti-corruption conference themed: “Ending Impunity: People. Integrity. Action” in Putrajaya from Sept. 2 amid allegations that he embezzled US$700 million in state funds! Continue reading “Cabinet Ministers guilty of abysmal dereliction of duty by giving solid backing to the Prime Minister without knowing whether RM2.6 billion were deposited into Najib’s personal accounts in AmBank, where the monies came from and were they went to”

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3 questions for new Cabinet

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. Continue reading “3 questions for new Cabinet”

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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

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. Continue reading “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”

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Has the MACC thrown even ethics out the window?

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? Continue reading “Has the MACC thrown even ethics out the window?”

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Najib, your time is up sir, Game Over!

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. Continue reading “Najib, your time is up sir, Game Over!”