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Malaysia’s Many Scandals

By AMBIGA SREENEVASAN
New York Times
AUG. 20, 2015

KUALA LUMPUR, Malaysia — Malaysia’s ruling party is facing its greatest crisis of legitimacy yet. Long seen as a modern and moderate Muslim democracy, Malaysia has been riding on its economic growth and good diplomacy for years, and the United Malays National Organization (UMNO), which has led coalition governments for nearly six decades, has been claiming the credit.

But rampant corruption, curbs on freedom of expression, a slowing economy and a currency in free fall have eroded public trust in the government’s stewardship. It hasn’t helped that Prime Minister Najib Razak recently reshuffled the cabinet, and sacked the deputy prime minister and the attorney general for asking uncomfortable questions. Or that once again the ruling coalition, Barisan Nasional (BN), is using its influence over government agencies to bypass or manipulate electoral rules to its advantage, most recently through gerrymandering in the eastern state of Sarawak. Continue reading “Malaysia’s Many Scandals”

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Did the new Attorney-General start off his tenure making a public statement which is far from the truth when he said that the purported corruption charge sheet against the Prime Minister was a fake?

The 2015 Sabah earthquake which struck Ranau with a magnitude of Richter 6.0 on 5th June lasted for 30 seconds, but it killed 18 people on Mount Kinabalu and caused some 90 aftershocks for the following next three weeks.

Similarly, the convulsions in the very sanctum of Federal government in Putrajaya in the last days of July, which saw the sacking of the Attorney-General and Deputy Prime Minister on 28th July and the arrests and harassment of top government officers in key institutions are still having their aftershocks – like yesterday’s sudden and abrupt transfer out of the Special Branch (SB) of the deputy director of the police intelligence agency, Datuk Abdul Hamid Bador to the Prime Minister’s Department reporting directly to the Prime Minister, Datuk Seri Najib Razak!

Abdul Hamid, who had been with the Police force for 37 years, was completely in the dark on the reasons for his abrupt transfer to the Prime Minister’s Office, reminiscent of the sudden transfer of two Malaysian Anti-Corruption Commission (MACC) directors, Bahri Mohd Zin (special operations division) and Rohaizad Yaakob (strategic communications) at the height of the recent stand-off between the Police and MACC over investigations into 1MDB and the RM2.6 billion Najib personal accounts, which also saw the most extraordinary solat hajat (special prayers) by MACC officers seeking divine intervention to allow MACC officers to carry out their anti-corruption duties.

Although the immediate and punitive transfer of Bahri and Rohaizad out of MACC to the Prime Minister’s Department had been cancelled because of adverse public reactions, penalties are being considered to punish the two MACC directors – which the powers-that-be should know could not be kept secret but would have to be fully explained and accounted for when Parliament reconvenes on October 19 for the 2015 Budget meeting.

And what of Abdul Hamid? Continue reading “Did the new Attorney-General start off his tenure making a public statement which is far from the truth when he said that the purported corruption charge sheet against the Prime Minister was a fake?”

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Sustaining strong institutions for clean gov’t

By Group of 25
Malaysiakini
Aug 19, 2015

COMMENT The success of the transformation and development of the Malaysian economy and its financial system has been primarily due to an empowering legal framework and sound institutions that operate on structured processes and with strong accountabilities, underpinned by a good governance framework.

Malaysia is indebted to visionary leaders whose dedicated focus and emphasis on building strong institutions have provided the foundation to support the development of the Malaysian economy.

These institutions continue to be led by strong leaders with a vision, a culture of integrity and competence which is imbued with values and virtues of hard work and prudence. This institutional framework has been the most important aspect of the growth and resilience of the economy today.

The ‘invisible hand’ does not work, by itself: it requires help from the rules of the game which govern how the market and its participants interact with each other. Institutional quality not only has a significantly positive impact upon income per capita, but it is also positively auto-correlated with the level of economic integration and trade (Rodrik & Subramanian 2003).

An improvement in institutional quality raises GDP directly, as well as promotes closer integration into the global economy, hence, enabling the economy to benefit from international trade and foreign investment flows. The auto-correlation also implies that higher national income and exposure to developed markets tend to lead to demand for improved institutions, thus enforcing a benign cycle. Continue reading “Sustaining strong institutions for clean gov’t”

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Why is Anifah Aman the only one out of 69 Ministers and Deputy Ministers who dare to declare that he has not received any funding from Najib’s RM2.6 billion personal accounts?

I commend the Foreign Minister Anifah Aman for declaring publicly that he has not received any funding from Prime Minister, Datuk Seri Najib Razak’s RM2.6 billion personal accounts in AmBank in 2013 for 13GE campaign.

Malaysians are intrigued why Anifah is the only one out of 69 Ministers and Deputy Ministers (Senators will have to be excluded) who dare to declare that the has not received any funding from Najib’s RM2.6 billion personal accounts for 13GE campaign.

Although my 96-hour notice to all Cabinet members to demonstrate that the Najib administration is serious when it proposed the National Consultative Council on Political Funding by individually declaring whether they had received any funding from Najib’s RM2.6 billion personal accounts for the 13 GE campaign, and if so, how much they received and spent, Cabinet Ministers could still declare whether they had been connected in any way to Najib’s RM2.6 billion personal accounts.

Since the DAP forum “Ke Mana Halatuju Malaysia” at Tropical Inn, Johor Baru on Monday night, I had named 18 Ministers and two deputy ministers and asked them to declare whether they had received funds from Najib’s RM2.6 billion personal accounts for the 13th General Election campaigning, and if so, to state the amounts.

Anifah is the only Cabinet Minister to respond and in the negative. Continue reading “Why is Anifah Aman the only one out of 69 Ministers and Deputy Ministers who dare to declare that he has not received any funding from Najib’s RM2.6 billion personal accounts?”

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Najib Razak has too much power for Malaysia’s good

David Pilling
Financial Times
August 19, 2015

Once a model of development, the country’s reputation is sinking and so is that of the PM

The story is that in March 2013 one or more unnamed Middle Eastern donors transferred a total of nearly $700m into the personal account of Najib Razak, prime minister of Malaysia. The generous amount was a donation to be lavished on that year’s election campaign of the ruling United Malays National Organisation as Mr Najib saw fit. So sordid are the goings-on in Malaysia these days that, astonishingly, this is not the case being mounted against the prime minister. This is the case for Mr Najib’s defence. Malaysia’s widely lampooned prime minister is in such a deep, dark and money-stuffed hole that this is the version of events being promoted by his allies.

It was also the finding this month of the Malaysian Anti-Corruption Commission. It turns out that an anonymous donation from a foreign benefactor is the least damaging explanation of how 2.6bn ringgit found its way into Mr Najib’s account. The prime minister has denied committing any wrongdoing or accepting money for personal gain.

If this is the positive take, the negative version is worse. Continue reading “Najib Razak has too much power for Malaysia’s good”

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Escaping Najib’s Malaysia, Investors Also Flee Currency and Stock Market

Y-Sing Liau and Lilian Karunungan
Bloomberg
August 19, 2015

While Malaysian Prime Minister Najib Razak’s cabinet overhaul may have achieved the “unified team” he was seeking in the face of probes into his bank accounts, global funds have been voting with their feet.

The ringgit has slumped 6 percent, the benchmark stock index lost 8 percent and sovereign bond risk jumped to a four-year high since the Malaysian Anti-Corruption Commission on Aug. 3 said Najib had received 2.6 billion ringgit ($634 million) from donors and not state investment company 1Malaysia Development Bhd. The conclusion failed to help 1MDB’s bonds, which are trading at 82 cents on the dollar.

PineBridge Investments LLC has cut Malaysian sovereign bond holdings, while Schroder Investment Management Ltd. says it’s too early to buy Asia’s worst-performing currency, as political uncertainty clouds the outlook for an economy rocked by plunging oil prices and an emerging-market selloff. Najib denies taking money for personal gain and has counterattacked against what he described as a campaign to oust him, by reshuffling his cabinet, suspending a leading newspaper and seeking the arrest of a newsletter’s founder. Continue reading “Escaping Najib’s Malaysia, Investors Also Flee Currency and Stock Market”

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Amid economic uncertainty, G25 warns against undermining BNM’s Zeti

The Malay Mail Online
August 19, 2015

KUALA LUMPUR, Aug 19 — Bank Negara Malaysia (BNM) must remain free of political influence and be allowed to execute its duties professionally, a group of Malay ex-civil servants said amid rumours of pressure on the central bank’s governor.

Citing economic uncertainty fuelled by the declining ringgit as well as the 1Malaysia Development Berhad (1MDB) scandal, the so-called G25 urged the federal government not to cast aspersions on BNM officials as well as those among the country’s vital institutions.

The group pointed out that confidence in BNM’s ability to carry out its duties has been the most important factor contributing to investor confidence and economic development for Malaysia, as speculation remains that Tan Sri Zeti Akhtar Aziz may be forced to leave over an alleged leak of information from an investigation into 1MDB.

“While there were doubts on the independence of the judiciary and capacity of other institutions, the confidence in the strength and capability of Bank Negara Malaysia in steering the financial sector to support economic growth has always been sustained and has been the single most important factor contributing to investor confidence and favourable economic prospects for Malaysia,” the statement read. Continue reading “Amid economic uncertainty, G25 warns against undermining BNM’s Zeti”

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PAS “supports” no-confidence vote against Najib – I’ll believe it when I see it

(Scroll down for English text)

“Sokongan” PAS kepada undi tidak percaya terhadap Najib – Saya akan percaya hanya apabila ia benar-benar berlaku

Timbalan Presiden PAS Tuan Ibrahim Tuan Man dan pengarah pilihanraya PAS Mustafa Ali telah menyatakan bahawa PAS akan menyokong undi tidak percaya terhadap Perdana Menteri Datuk Seri Najib Razak.

Tuan Ibrahim dan Mustafa Ali bukan Ahli Parlimen, dan kenyataan mereka bahawa PAS akan menyokong undi tidak percaya terhadap Najib di Parlimen itu hanya saya akan percaya setelah mereka benar-benar melakukannya.

Pakatan Rakyat berkubur setelah tujuh tahun memikul harapan dan keyakinan rakyat tidak mengira kaum, agama, atau daerah, ke arah perubahan politik kerana PAS di bawah pimpinan Presiden-nya, Datuk Seri Hadi Awang, tidak boleh dipercayai dan kata-katanya tidak boleh dipegang sebagai janji.

Berkali-kali PAS di bawah Hadi melanggar komitmen dan janji mereka, sama ada janji untuk setia terhadap Dasar Bersama Pakatan Rakyat mahupun prinsip muafakat yang bermakna tidak ada satu parti atau seorang pemimpin mana-mana parti boleh membatalkan atau melanggar keputusan yang dicapai menerusi Majlis Pimpinan Pakatan Rakyat, sama ada berkenaan ketetapan untuk bertanding satu lawan satu di semua kerusi Parlimen dan Dewan Undangan Negeri pada pilihanraya umum ke-13, keputusan untuk melantik Datuk Seri Dr. Wan Azizah Wan Ismail sebagai Menteri Besar Selangor atau keputusan sebulat suara bahawa rang undang-undang hudud atau sebarang usul persendirian PAS berkenaan hudud akan dibawa ke Majlis Pimpinan Pakatan Rakyat sebelum dikemukakan di Parlimen. Continue reading “PAS “supports” no-confidence vote against Najib – I’ll believe it when I see it”

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Call for Commission of Inquiry by Malaysian Elders on whether there was an attempted “coup” to topple Najib as Prime Minister, the sacking of Gani Patail as AG and Muhyiddin as DPM, the arrest and harassment of top government officials and whether they are related to the twin scandals of 1MDB and RM2.6 billion in Najib’s personal accounts

The best response to Barisan Nasional’s (BN) strategic communications director Datuk Abdul Rahman Dahlan’s denial that he had confirmed in his Star Online interview that there was a draft of a corruption charge sheet against Prime Minister Datuk Seri Najib Razak is Abdul Rahman’s own words: “Excuse me. I was not born yesterday.”

Abdul Rahman has asked me to re-read his Star Online interview, and I have done so, and I reiterate that anyone reading it will come away with the ineluctable conclusion that there was an attempted coup against the Prime Minister, Datuk Seri Najib Razak by criminalising him and toppling him from office; and “given that scenario”, a “flurry of action” was taken by the Prime Minister, including drastic action to “take these people out first, so that things will get back to normalcy and see what happened next”.

Those who were “not born yesterday” would realise that Abdul Rahman was giving a very graphic account of the atmosphere of great distrust, suspicion and division in the corridors of power and the “cloak-and-dagger” power play in Putrajaya in the last days of July 2015, where he was undoubtedly one of the main backroom players.
Continue reading “Call for Commission of Inquiry by Malaysian Elders on whether there was an attempted “coup” to topple Najib as Prime Minister, the sacking of Gani Patail as AG and Muhyiddin as DPM, the arrest and harassment of top government officials and whether they are related to the twin scandals of 1MDB and RM2.6 billion in Najib’s personal accounts”

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Will Cabinet today resolve that all Ministers and Deputy Minister should seal their lips on the amounts of funds they received from Najib’s RM2.6 billion personal accounts for 13GE campaigning?

I have given the Prime Minister, Datuk Seri Najib Razak and the expanded Cabinet of 37 Ministers 96 hours to prove that they are sincere in political funding – and this 96-hour challenge expires at the Cabinet meeting later in the morning.

Will there be any surprises from Najib and the Ministers in announcing steps and measures to demonstrate that they are sincere in political funding as a follow-up to the Prime Minister’s recent proposal for a national consultative committee of political parties, NGOS, civil societies and youths to formulate guidelines on political funding with the aim of ensuring that funds are sourced with integrity?

Malaysians do not expect any surprises, and will in fact be shocked if the Cabinet could produce a rabbit from the hat and come up with initiatives to demonstrate that it is sincere about regulating the baneful effects of money politics in Malaysia.

Najib suffers from a grave case of trust-deficit in the country, but he is making a grave error if he thinks Malaysians suffer from an equally serious case of judgment-deficit.

All Malaysians can see through what Najib is up to when he proposed a National Consultative Council on Political Funding which will be given a year to come up with proposals and guidelines in place in time for the next general election.

Najib wants to buy time for up to one whole year to be able to continue stonewall from giving a full and satisfactory account of the RM2.6 billion deposited into his personal accounts in AmBank in March 2013 before the 13th General Election – where the money had come from, who had received handouts from Najib’s accounts, what is the remainder in the accounts after the 13th General Election, and whether there is any truth in last Saturday posting on Sarawak Report website that over US$650 million (RM2 billion) was transferred from Najib’s AmPrivate Bank account in Kuala Lumpur to an account in Singapore after the 13th general election. Continue reading “Will Cabinet today resolve that all Ministers and Deputy Minister should seal their lips on the amounts of funds they received from Najib’s RM2.6 billion personal accounts for 13GE campaigning?”

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From trust deficit to moral and ethical bankruptcy

– K. Haridas
The Malaysian Insider
18 August 2015

Who gives a donation amounting to RM2.6 billion? All that Malaysians would like to know are details about this amazing donor. Is such a person alive? We would like to know what motivated him or even a brotherly nation to give such a sizeable amount to Datuk Seri Najib Razak. Was it really for Umno or was it a personal donation or as also claimed for supporting anti-Isis positions?

This is the biggest lie that has been floated on Malaysian citizens. Believe me, the way money has entered into Najib’s accounts stinks of misuse of 1Malaysia Development Bhd (1MDB) funds. If this is revealed, it is a crime of great magnitude. So, present it as a donation and the kampong and Umno folk will then buy it.

The way the money was moved from account to account and then disappeared raises questions regarding deceptions. Umno diehards who are loyal to Najib are not interested in these questions. The scale of the amount and the manner in which money was brought into the country smells of dishonesty, intrigue and exploitation. Continue reading “From trust deficit to moral and ethical bankruptcy”

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IGP should ensure that police single-mindedly focus on fighting crime to make Malaysians safe instead of playing the game of their political masters like probing Zahid’s ridiculous claim of a campaign to topple the government

The Inspector-General of Police, Tan Sri Khalid Abu Bakar should ensure that the police focus single-mindedly on fighting crime to make Malaysians safe in their homes, offices and public places instead of playing the game of their political masters like probing the Deputy Prime Minister-cum-Home Minister, Datuk Seri Zahid Hamidi’s ridiculous claim of a campaign to topple the government, when no offence has been disclosed.

Khalid was very proud to say yesterday that the police had received three reports in relation to Zahid’s calim that there is a campaign to topple the government and that the reports will be investigated under Section 124B of the Penal Code on “activities detrimental to parliamentary democracy” which carries maximum penalty of 20 years in jail.

Did Khalid sense the nation-wide gasp of disgust and disbelief that the police under his leadership are continuing to squander scarce police resources and precious police time to play the game of their political masters and go on a wild goose chase when the police priority should be an unerring agenda to slash the crime rate to make Malaysia a safe country for citizens and investors?

Firstly, can Khalid explain what offence had been disclosed by the so-called three police reports based on Zahid’s claim that there is a campaign to topple the government? Continue reading “IGP should ensure that police single-mindedly focus on fighting crime to make Malaysians safe instead of playing the game of their political masters like probing Zahid’s ridiculous claim of a campaign to topple the government”

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Eight Ministers and two Deputy Ministers asked to declare the amounts of funds received from the infamous Najib RM2.6 billion personal accounts for the 13th General Election campaigning

Former Minister and Barisan Nasional Backbenchers’ Club (BNBBC) Chairman Tan Sri Shahrir Samad is the first to confirm the posting on the Sarawak Report website on Saturday which named him as one of those who had received funds from Prime Minister Datuk Seri Najib Razak’s infamous RM2.6 billion personal accounts for the 13th General Election campaigning.

In the past two days, I had asked the two individuals whom Sarawak Report had revealed as having received RM1 million and RM2 million respectively to publicly confirm or deny, that they cannot keep silent as they are bound to be questioned on the matter when Parliament reconvenes on Oct. 19, as both of them are Members of Parliament.

Now that Shahrir has admitted receiving RM1 million from Najib’s RM2.6 billion personal accounts for the 13th General Election campaigning, it is now the turn of the Deputy Minister for International Trade and Industry, Datuk Ahmad Maslan to confirm whether he has received RM2 million from Najib’s RM2.6 billion personal accounts for the 13th General Election campaigning. Continue reading “Eight Ministers and two Deputy Ministers asked to declare the amounts of funds received from the infamous Najib RM2.6 billion personal accounts for the 13th General Election campaigning”

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Call on the IGP to arrest Housing Minister Abdul Rahman Dahlan for publishing “false news” under the PPPA for his Star Online Interview unless Abdul Rahman can prove that there was actually a plot to criminalise the Prime Minister and topple him from office

In his Star Online interview, which is not available on the printed edition of The Star today, the Barisan Nasional Strategic Communications Director, Datuk Abdul Rahman Dahlan who is also Minister for Housing and Local Government, is guilty of publishing two false news unless he could prove their truth and veracity, viz:

Firstly, that there was an attempted coup against the Prime Minister, Datuk Seri Najib Razak by criminalising him and topple him from office; and

Secondly, that there was already a coup and unconstitutional grap for power by the then Attorney-General, Tan Sri Gani Patail when illegally and arbitrarily, the Special Task force headed by him investigating into the 1MDB and the RM2.6 billion deposit in Najib’s personal accounts in AmBank investigated the Prime Minister in order to “criminalise” the Prime Minister.

These are serious assertions by a Minister of the country, and must be considered as “false news” falling under the Printing Presses and Publications Act 1984 unless Rahman could prove their truth and veracity.

I call on the Inspector-General of Police, Tan Sri Khalid Abu Bakar to arrest Housing Minister Abdul Rahman Dahlan for publishing “false news” under the Printing Presses and Publications Act for his Star Online Interview on a plot to criminalise the Prime Minister and topple him from office unless Rahman can prove the veracity or truth of these serious allegations.

Three important strands of police investigations into Abdul Rahman’s Star Online interview should be:

(1) Whether there was a plot in the last days of July to stage a coup against Najib as Prime Minister by criminalizing him and toppling him from office;

(2) Whether there had been illegal and unconstitutional acts to overawe and frustrate the Attorney-General from exercising his discretionary powers under Article 145(3) of the Constitution to “institute, conduct or discontinue any proceedings for an offence”;

(3) Whether there was any basis for charging the Prime Minister for the offence of corruption. Continue reading “Call on the IGP to arrest Housing Minister Abdul Rahman Dahlan for publishing “false news” under the PPPA for his Star Online Interview unless Abdul Rahman can prove that there was actually a plot to criminalise the Prime Minister and topple him from office”

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Najib should come clean about the RM2.6 billion in his personal accounts and stop spawning lies like the latest one that ‘PM’s RM2.6 billion was thanks for fighting IS’

It has been said that once you tell a lie, you need to tell ten more lies to cover the first lie.

This is what is happening almost every day, to cover up the multiple and monstrous lies that are being told about the twin scandals of RM42 billion 1MDB and the RM2.6 billion in Prime Minister Datuk Seri Najib Razak’s personal bank accounts before the 13th General Election.

In a way, it is quite entertaining the manner that the Prime Minister and his media communication strategists are busy spinning stories about these twin scandals, and if not for the vital fact that national interests and the people’s future are at stake, one could sit back to enjoy the burlesque and the clumsy attempts to get the Prime Minister to get out of a very sticky and nasty situation.

But the latest spin that the RM2.6 billion deposited into Najib’s personal bank accounts originated from Saudi Arabia as an appreciation to Malaysia for championing Islam, fighting Islamic State (IS) and for practicing Sunni Islam (Ahli Sunnah Wal Jamaah) really takes the cake for being the most ludicrous and outrageous explanation so far. Continue reading “Najib should come clean about the RM2.6 billion in his personal accounts and stop spawning lies like the latest one that ‘PM’s RM2.6 billion was thanks for fighting IS’”

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Was there an attempted coup against Najib involving charging him for corruption in last week of July which was pre-empted by the sudden sacking of the then Attorney-General Gani Patail?

Was there an attempted coup against the Prime Minister, Datuk Seri Najib Razak involving charging him for corruption in the last week of July which was pre-empted by the sudden sacking of the then Attorney-General Tan Sri Gani Patail?

In fact, was there already a coup and unconstitutional grab for power when Gani illegally and arbitrarily set up the four-agency Special Task Force comprising Bank Negara Malaysia (BNM), Malaysian Anti-Corruption Commission (MACC), the Royal Malaysian Police (RMP) and the Attorney-General’s Chambers (AGC) to investigate the 1MDB scandal and RM2.6 billion deposit in Najib’s personal bank accounts by foreign sources just before the 13th General Election?

These are among the questions buzzing the everybody’s mind from the interview in Star Online by the Barisan Nasional Strategic Communications Director, Datuk Abdul Rahman Dahlan who is also Minister for Housing and Local Government. Continue reading “Was there an attempted coup against Najib involving charging him for corruption in last week of July which was pre-empted by the sudden sacking of the then Attorney-General Gani Patail?”

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Najib badly served by the world’s worst but probably most expensive media communications strategists as witnessed by the “dud” of the National Consultative Committee on Political Funding

Malaysian Prime Minister Datuk Seri Najib Razak is badly served by the world’s worst but probably most expensive media communications strategists as witnessed by the “dud” of the National Consultative Committee on Political Funding.

Those responsible for mooting the idea of National Consultative Committee on Political Funding at this stage deserve to be sacked immediately, as only the naïve and the dim-witted could believe that this is the best timing for the Prime Minister to surface such a proposal.

Those who convinced Najib to go public on this idea at this stage must have sold the Prime Minister with the argument that this was a panacea for Najib’s recent woes, pushing to the backstage the twin scandals of 1MDB and RM2.6 billion deposit into Najib’s personal bank accounts, which had haunted the Prime Minister for months, but even more tempting, allow Najib to go from the defensive to the offensive against opposition parties – by taking a moral ground vis-à-vis his critics and dissenters.

But only the naïve and the nincompoop could fail to see that this is the worst possible timing to surface the proposal of a National Consultative Council on Political Funding, and in fact, may even be inviting a death certificate for the idea.

This is because with Najib’s failure to uphold accountability and transparency in the two biggest scandals in the nation’s history, the RM42 billion 1MDB and the RM2.6 billion deposited in Najib’s personal accounts in AmBank in March 2013 just before dissolution of Parliament and holding of 13th General Election, the Prime Minister has lost all moral authority to talk about transparency and integrity in political funding. Continue reading “Najib badly served by the world’s worst but probably most expensive media communications strategists as witnessed by the “dud” of the National Consultative Committee on Political Funding”

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Malaysia’s Ringgit in a Tailspin

By ANJANI TRIVEDI and EWEN CHEW
Wall Street Journal
Aug. 14, 2015

Currency falls more than 3% Friday to a fresh 17-year low

Malaysia’s ringgit suffered its largest one-day loss in almost two decades, with investors pulling cash out of stocks and bonds, as the nation’s list of challenges appears to be getting longer.

The ringgit shed more than 3% against the U.S. dollar Friday, leading the losses in global currency markets and falling to a fresh 17-year low.

Malaysia’s benchmark index was down 5.4% for the week, the region’s worst-performing stock market. Yields, which move inversely to prices, on five-year Malaysian government bonds rose 0.20 percentage point this week to their highest level since the global financial crisis. Continue reading “Malaysia’s Ringgit in a Tailspin”

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Is Zahid referring to Muhyiddin as the UMNO leader plotting to topple the Najib government?

I am intrigued by the latest news reports online quoting the Deputy Prime Minister and Home Minister, Datuk Seri Zahid Hamidi as saying that an Umno leader is leading an attempt to topple the Najib government “using the backdoor”.

Citing “trusted sources”, Zahid said there is an attempt to obtain statutory declarations (SD) of opposition and Barisan Nasional MPs to claim that they have the voice of the majority.

Is Zahid referring to former Deputy Prime Minister, Tan Sri Muhyiddin Yassin who though sacked at DPM is still the UMNO Deputy President or some other UMNO leader?

Be that as it may, “toppling” Najib as Prime Minister is no crime and cannot fall under the ambit of Section 124B of the Penal Code on “activities detrimental to parliamentary democracy” as this is part and parcel of parliamentary democracy, unless the proposed “toppling” of the Prime Minister and the government is by “violent and unconstitutional” means. Continue reading “Is Zahid referring to Muhyiddin as the UMNO leader plotting to topple the Najib government?”

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72 hours to Najib and Cabinet to prove that they are sincere in political funding proposals

The Prime Minister, Datuk Seri Najib Razak yesterday proposed a national consultative committee of political parties, NGOS, civil societies and youths to formulate guidelines on political funding with the aim of ensuring that funds are sourced with integrity.

The Prime Minister could not have made such a proposal in worse circumstances, for though the concept that funds for political parties are sourced with integrity and in a transparent manner is right, proper and deserves support, Najib’s timing of such a proposal could only ensure its rejection or reception with great skepticism.

I fully support the idea that funding for political parties and elections should be transparent with regard to its source and expenditure, but this is clearly secondary for Najib as the largest concern about him is his continued stonewalling from giving a full and satisfactory accounting of the RM2.6 billion deposited into his personal accounts in AmBank in March 2013 before the 13th General Election remains – and the main question for Malaysians and the world remains: where the RM2.6 billion came from and where they have gone to.

It is a blot on Najib’s record of transparency and integrity that for over a month he could not say a simple “yes” or “no” as to whether RM2.6 billion was deposited into his personal bank accounts, and where the money came from and where they have gone to. The question uppermost in everybody’s mind is what had Najib got to hide? Continue reading “72 hours to Najib and Cabinet to prove that they are sincere in political funding proposals”