Category: Najib Razak

By John Berthelsen
Asia Sentinel
October 7, 2015

A long list of Malaysia’s most prominent and influential figures have reportedly gone to Prime Minister Najib Razak in recent weeks to appeal to him to step aside as his scandal-plagued administration brings serious harm to the economy and image of the country.

These include all three of Najib’s brothers, especially Nazir Razak, the chairman of the CIMB banking group. Others who have both publicly and privately appealed for him to at least step aside until investigations into the unexplained US$681 million in his AmBank personal account and the long-running 1MDB scandal are completed include Musa Hitam, the onetime deputy premier under Mahathir Mohamad; political veteran Tengku Razaleigh Hamzah; and Mahathir himself, who has almost daily called Najib a thief and criminal.

Insiders say Najib has agreed to hear their appeals, which have included offers of immunity from prosecution, but that his influential wife, Rosmah Mansor, has insisted he remain in office. Those trying to fix the problem are hampered by their own rivalries and past jealousies, betrayals and maneuverings. Continue reading “Malaysia’s Najib Rebuffs Elite Pleas to Step Down”

Guardian
Wednesday 7 October 2015

Malaysia’s royal rulers have called for a quick, transparent investigation into troubled state-fund 1Malaysia Development Berhad (1MDB), in rare comments from the monarchy that presents a new challenge to the prime minister, Najib Razak, as he fends off corruption allegations.

The fund, whose advisory board is chaired by the prime minister, has amassed debt of more than $11bn and is at the centre of a political storm after allegations of graft and mismanagement.

1MDB has denied wrongdoing. Investigations being conducted by Malaysia’s anti-graft agency and other organisations have dragged on with no conclusion in sight. Continue reading “Malaysia’s royals make unprecedented call for action on corruption”

by Thomas Fuller
New York Times
OCT. 7, 2015

KUALA LUMPUR, Malaysia — In a rare and explicit intervention in politics, the sultans of nine of Malaysia’s states have called for a swift and transparent investigation into a political scandal involving Prime Minister Najib Razak, saying his failure to resolve allegations of corruption had created a “crisis of confidence” in the country.

Malaysia’s central bank and anticorruption officials are investigating whether millions of dollars transferred into Mr. Najib’s accounts came from companies linked to a government fund that Mr. Najib oversees.

The statement by the sultans, who have a largely ceremonial role, was their most direct intervention in politics in recent history. Analysts said it was likely to provide support for the embattled officials who are investigating the scandal and buttress the position of the growing ranks of Mr. Najib’s political opponents. Continue reading “State Rulers in Malaysia Press for Inquiry Into Premier, Najib Razak”

Michael Peel in Bangkok
Financial Times
October 1, 2015

The Malaysian state investment fund at the centre of an international corruption scandal has failed to file its accounts on time.
1 Malaysia Development Berhad blamed the delay on a lack of access to documents held by investigators.

The fund said it was given permission by the companies regulator to miss the September 30 deadline, adding that two of its subsidiaries also wanted to submit their accounts late.

Critics said the delay was the latest example of a lack of transparency in the face of a large debt burden and allegations of misappropriation of funds that have also engulfed Najib Razak, Malaysia’s prime minister. Both 1MDB and Mr Najib have denied wrongdoing.

“Such complete disregard for timely regulatory compliance demonstrates 1MDB’s contempt for good corporate governance and financial accountability,” said Tony Pua, an opposition MP who was barred from travelling outside Malaysia after he raised questions about the fund. Continue reading “Scandal-hit Malaysia investment fund files accounts late”