Some three weeks ago, the Malay Rulers issued an unprecedented statement urging the government to complete the 1MDB investigations “as soon as possible” and to take “the appropriate stern action” against all found to be implicated.
Such crisis of confidence, among other things, have caused “the plunge in the value of the Malaysian Ringgit, impacting the country’s financial market and economic climate negatively and at the same time adversely affecting the world’s view of Malaysia” – and if not “wisely handled”, could “jeopardize the country’s economy and the livelihood of the people”.
The Malay Rulers wanted the findings of the investigations to be reported “comprehensively and in a transparent manner” so that the people will be convinced of the government’s sincerity not to conceal “facts and truth”, as such failure to give “convincing clarifications and answers…is feared to have resulted in a crisis of confidence”.
Although the language is somewhat convoluted, it is the result of trying to diplomatically convey the messages (i) that the Malay Rulers were very concerned at the worsening crisis of confidence caused by the two mega scandals in the nation’s history, the RM50 billion 1MDB and RM2.6 billion “donation” in Najib’s personal banking accounts, which had brought together a conjunction of political, economic, good governance and nation-building crises which threaten to produce the first “perfect storm” to hit Malaysia for six decades; and (ii) that the government had not conducted itself in a frank and transparent matter it should have done in these two mega-scandals.
What has the Najib government done in the 24 days since the Oct. 6 statement of the Malay Rulers, or in the past fortnight of parliamentary meetings, to address the concern of Malay Rulers and Malaysian citizenry that IMBD investigations be completed “as soon as possible”?