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Failure of 1MDB: More than economic consequences.

Friday, July 31, 2015

With the leaked video, it seems like the money did get transferred into Najib's personal account.

This explains why he has not denied the allegations and it explains why he is fighting so hard to stay in power. If he stepped down, he would be in danger of having the law come after him. A term in prison would almost be certain then.

Muhyiddin alleges Najib admitted to misapropriating funds

"Leaders are vulnerable to making big mistakes, such as violating the law or putting their organizations' existence at risk. Their distortions convince them they are doing nothing wrong, or they rationalize that their deviations are acceptable to achieve a greater good." Bill George

In ancient China, the people believed that if the Emperor was immoral or unethical, the country would suffer. It might be superstition but since Najib took power, Malaysia has had so many problems and disasters.

Being Malaysia's neighbour, Singapore should naturally be concerned.

Yes, if 1MDB should go kaput, there could be economic consequences which would affect Singapore. For example, the High Speed Rail project could be put on hold.

However, the Malaysian people's feelings against Najib could be so strong that the current tension could escalate and lead to civil unrest. The scary bit? It looks like it could actually happen.

I hope the unrest does not spill over into Singapore if it does happen.


Sanye ◎ 三页 said...

I pray hard that this whole saga will be resolved in a peaceful manner. Being so close geographically and economically, any civil unrest in Malaysia will definitely have great impact on us. Looking back into history, the minority communities there will suffer the most in any civil unrest.

AK71 said...

Aiyoh, listen to your brother, Najib.

The Prime Minister’s brother Nazir Razak wondered if Mr Najib was getting a full and unvarnished picture of the economy.

“If you going around saying that its economic sabotage, people will get scared about telling the truth,” said Mr Nazir. Mr Najib's government has previously blamed former Prime Minister Mahathir Mohamad of conspiring with foreign parties to sabotage the economy.

"When people hear of what's going on in Malaysia now, they will take the view that they'd rather not get involved and that it's better to go to another country," said Mr Nazir. "So you get an exodus of funds that can cause the ringgit to overshoot in terms of undervaluation."


AK71 said...

An Umno Wanita member who filed a suit against the ruling party president Datuk Seri Najib Razak and party executive secretary Datuk Ab Rauf Yusoh says she has the support of other Umno members.

Langkawi Umno Wanita leader Anina Saaduddin who filed a suit against Najib to account for the chronology of events involving the RM2.6 billion channelled into his personal bank accounts said she was doing it for party members.

Anina who created a stir when she attacked Najib at her Langkawi Wanita division meeting earlier this month said she was disappointed that Najib had not heeded her grievances against him.

"It is unfortunate that Datuk Seri Najib disregarded my criticism of him.

"As such, I have also lodged a complaint with the Umno disciplinary board to summon him to explain the matter of the RM2.6 billion in his personal account," she told reporters at the Jalan Duta High Court lobby today.

"I believe he has committed breach of trust and gone against the party constitution by accepting and spending the RM2.6 billion," she added.

Anina also expressed concern that despite the fact that Najib had tainted Umno's image, interested persons in the party would not take action against him given his powerful position as president and prime minister.

She said it was this and her loyalty to Umno that had prompted her to file the suit against her party chief.

"I am doing this because I love Umno, and I believe all party members love Umno.

"I feel this is my responsibility in the interest of the three million Umno members.

"As such, I appeal to Datuk Seri Najib Razak as president of the party to be honest and fair to party members," she added.

When told that an Umno lawyer had said she could be expelled for initiating the action, Anina said she was "not afraid".

Anina's outburst at the Langkawi division annual general meeting was caught on video and went viral.

In the video, Anina was recorded saying Najib had "lied" to Umno members by claiming all of them supported him. – August 28, 2015.


AK71 said...

Protesters marching towards Dataran Merdeka could also be heard shouting “Bersih”.

Four police trucks were spotted at Dataran Merdeka, with more heading towards the historic square.

Polls reform group Bersih 2.0 has said demonstrators will gather around the historic square that is being used for rehearsals for Merdeka Day celebrations on Monday.

The police have prohibited the Bersih 4 rally, which is calling for institutional reforms and for Prime Minister Datuk Seri Najib Razak’s resignation over the 1Malaysia Development Berhad (1MDB) controversy.


AK71 said...

"Mr Najib’s officials have said that the payment of nearly £450m, made through an Arab bank, came from a Middle East benefactor for political party use purposes before the last election. But the contribution of such a large sum – nearly as much as the £470m raised by Barack Obama to fight the 2012 US presidential campaign in the most expensive election in history – has only fuelled controversies."


AK71 said...

"In July he sacked his deputy, who had begun to question his handling of the affair, and promoted to the cabinet several members of a committee which had been arranging hearings into alleged mismanagement at 1MDB. In short order the attorney-general was replaced (supposedly on health grounds), a pesky police chief was retired and several members of the country’s anti-corruption commission pushed aside.

"A government agency has suspended the printing licences of two troublesome newspapers, while ministers say they are mulling new rules to curb speculation on social media..."


AK71 said...

You want to watch these videos if you are concerned about the 1MDB issue and possible corruption at the highest level of government:

World anti-corruption head slams Najib on home ground
Published on 02 September 2015

Cover-up won't work, Najib told.
Published on 03 September 2015

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