This was one of those rare occasions when Mahathir is talking some sense. But of course, we know this wily politician invariably has something up his sleeve.
It doesn’t need Mahathir to tell us that it is game (almost) over for the PM. Najib is in extra time now as the pressure mounts on all sides. Across the length and breadth of the nation, people are murmuring and texting and WhatsApp-ing about 1MDB, Jho Low, Najib and Rosmah, and Sirul. That’s when they are not grumbling about the rising cost of living and soaring home prices – this, even before GST is imposed.
It would appear to be a suppressed uproar – suppressed by the fear of the Sedition Act and an array of other laws. But there’s no need for big ceramahs or rallies or loud speeches to open the eyes of Malaysians to what is going on. The real outpouring of unhappiness and anger is taking place in the comment sections of news portals, blogs, social media and WhatsApp.
It is an eerie silence that should worry the Najib administration. The coming days will be crucial: What is Sirul going to say? What happens now after the Finance Ministry deferred approval of RM3bn for 1MDB, especially as 1MDB has more loan repayments coming up? What will happen at the opposition rally on 7 March and the Umno divisional chiefs gathering on 8 March?
The irony is that it was Mahathir who put in place a system in Umno that entrenched the power of the Umno president (and hence the PM), making it almost impossible for any challenges for the top positions in party elections. That makes it awfully difficult for an increasingly sectarian Umno to remove the incumbent, even if he has lost the confidence of the party faithful.
But that suits Mahathir fine: even in his retirement, he can still play the role of ‘kingmaker’, nudging the incumbent towards the door when it suits him and nodding his approval for a successor, just like he did when Abdullah Badawi was shown the exit and Najib was brought in.
My sense is, it is just a matter of time before Najib, whose public ratings have dropped, is shown the door. But who else is there in Umno who is credible enough to take over? Muhyiddin? Hishammuddin? But are they credible? Or would a compromise candidate from the fringes such as Razaleigh be more acceptable to the Umno factions?
Whoever takes over will have his or her work cut out for him/her and will be in an unenviable position.
How do you deal with a black hole like 1MDB? How many other smaller 1MDBs are there out there that we don’t know of?
What do you do with gentlemen like Jho Low and Taib Mahmud?
How do you restore the credibility of government institutions?
How do you restructure the economy and move away from the neoliberal and speculative property-led, FDI-driven, unsustainable development model, which has opened up a huge chasm between the rich and the poor?
What do you do to promote food security and sustainable agriculture and make basic food items more affordable?
How do you dismantle the cronyism (including monopolies) that has concentrated wealth in the hands of a few while draining the nation’s – and our personal – coffers, leaving many Malaysians indebted?
How can you improve the quality of public health care and government schools, colleges and universities?
How do you deal with the religious and racial bigots who are trying their level best to wrench this country apart?
Where do you even start?
This is going to be a long year. But we must believe that Justice, Freedom and Solidarity – rather than indifference, hatred and corruption – will prevail in the end.
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Rafizi Ramli today said the party would apply for a court injunction to prevent state agencies, such as the Employees Provident Fund (EPF), from taking up shares in 1MDB soon-to-be-listed power assets. He told a forum on 1MDB in Petaling Jaya that the party would not allow any more public funds to go into the controversial state investment company, which has debts of over RM42 billion.
Second Finance Minister Ahmad Husni said the debt-ridden 1MDB has “cash flow problems” and is an ongoing concern to the government. He termed the the injected RM950 million from Ministry of Fiannce as “standing credit” for the fund. Rafizi Ramli said this statement was as good as confirming a bailout – something DPM Muhyiddin had called on the government not to do in a statement last week. “Why on earth would you give a revolving credit without any collateral, without any exchange, without any commitment on its part?” questioned Mr Rafizi, saying the government should have “run away” from 1MDB… Read more »
Najib says 1MDB’s funds are kept in a Swiss bank branch in Singapore to facilitate easier withdrawals. Why not in Labuan? Strange, right?
Veteran journalist Datuk A. Kadir Jasin has questioned Najib’s decision to park US$1.103 billion of 1MDB funds in Singapore, asking if Bank Negara was “stupid” enough to make it difficult to bring the money back directly from the Cayman Islands.
Also reported on Singapore’s Business Times yesterday that Ministry of Finance ‘injected’ RM1 billion to ‘bail out’ 1MDB. What has happened to the opinion of our DPM?
Why does a “golden goose” need another loan?
Next election, posters of Jho Low and 1MDB should be used. People need to be reminded why they are paying GST and why subsidies have gone away.The poor folks in the kampungs need to be reminded why they are poor.
The question of whether the current opposition can run the government will be irrelevant. Instead, people need to ask whether the current government should be allowed to continue.
Last time NFC ‘invested’ the money given to buy condo in Singapore.
Now 1MDB deposited the money supposedly returned from Cayman Islands onto Singapore banks for ‘easy withdrawals’.
Perkasa and Ridhuan Tee should ask why Umno folks like to do business with the ‘ultra-kiasu’ nation of Singapore.
The leaked PetroSaudi email correspondence was enough evidence for Malaysian businessman Low Taek Jho, or Jho Low and ex-1MDB CEO Datuk Shahrol Halmi to be charged under two laws: the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
But we know laws are only used selectively to prosecute the opposition.
Why BN is in such hurry to dismantle or dissolve 1MDB to sell its assets if it is financially sound?
March 7 event is now banned by PDRM, while March 8 will see solidarity behind Najib?
March 8 is the one year anniversary of the mysterious disappearance of MH370.
We know Mukhriz and Muhyiddin did not openly show their support to Najib by not attending g the meeting. More to come from this Umno infighting.
Someone has been lying to the rakyat again. Cabinet did not approve the RM3 billion loan, DPM says no bailout using public funds. Yet now we hear that 1MDB has managed to get RM970 million loan from Putrajaya. Did the Finance Minister approve this loan?
So who is lying? PM or DPM?
Also, why foreigners (Singaporeans) know better about our financial obligation/status than Malaysians? What has happened to transparency and the ‘above the board’ practices in our Finance Ministry?
This should prove once and for all that all allegations against the PM wrong by Rafiz and Tony on 1MDB are false and that 1MDB has been cleared of any wrong doing. DAP PKR Rafizi and Tony and their sycophants must shut up their mouth and not use foreign media that is not substantiated and without proof.
Najib asks Auditor-General to verify 1MDB accounts
http://www.freemalaysiatoday.com/category/nation/2015/03/04/najib-relents-asks-ag-to-verify-1mdb-accounts/
Cabinet clears 1MDB of wrongdoings
http://www.malaysiakini.com/news/290973
AG and Cabinet report to who?
gk ong. I have said many times that DAP sycophants will always rebut back that they are BN UMNO people whether they are the judges, Auditor general or cabinet. Do you know that there are 4 international auditors for 1MDB and Deloitte has given the explanation to the cabinet & the Cabinet also consist of 89 Pakatan MP. Now what more do you people especially Pua and Rafizi want. Just trying to cari pasal. Just get the proof and sue 1MDB or you Pakatan DAP can put all the proof to the press. Don`t use 1 or 2 articles from… Read more »
Yang please explain then why that Umno guy was dismissed for questioning 1MDB? Like that only yes men will show solidarity on Mar 8?
Aiyoh yoh Jericho, Its all over the news and I have said so many times. This Khairuddin is a BANKRUPT so he was dismissed from his post as in according to the bankruptcy act
AG and MACC would not dare to touch their Umno paymaster and Najib. So it is another Sandown range from Umno.
All 35 ministers are now individually and collectively responsible for problems with debt-ridden 1MDB after they cleared the troubled fund of wrongdoing.
YB Tony Pua 1MDB Press Conference in February 2015:
https://www.youtube.com/watch?v=xreKmQGF9Mo
Muhyiddin has taken matters further in asking for experts to assist the Auditor-General in conducting the audit in the shortest time possible for a complete and comprehensive report about 1MDB’s finances, adding that a forensic audit must be done to ensure there was no financial irregularities in 1MDB’s transactions.
Was Muhyiddin channelling the requests of Pakatan Rakyat in asking for a thorough investigation? Is this a covert defiance on Najib?
Muhyiddin has practically shattered Umno’s facade of unity by insisting on scrutiny and no government bailout for troubled 1MDB, ahead of the March 8 meeting?
Ahli Parlimen DAP Gobind Singh Deo dan Tony Pua hari ini membuat laporan polis mendesak supaya siasatan dijalankan ke atas ketulenan dokumen 1Malaysia Development Berhad (1MDB) yang dibocorkan oleh portal Sarawak Report.
https://www.youtube.com/watch?v=CfNruaHt3A4
What is Sirul going to say.
Nothing because he knew that Pakatan is trying to influence and use him for their political mileage. He knew they are there not to help him as Pakatan will use anything including him to create a web of deception to sway the mind of the people. The truth is the court of law has already made a decision just like the defacto case. Look like he is more interested in his sambal ikan bilis than Pakatan nonsense.
http://www.freemalaysiatoday.com/category/nation/2015/03/04/mahfuz-meet-with-altantuya-killer-sirul-an-anti-climax/
Who or is it Pakatan that finance Sirul mother trip to Australia and what is the motive ??
Day in day out we have been hearing lots of blah blah from Tuny and Lafizi that 1MDB has so much debts that the country would be bankrupt soon. We hear so much that this or that fellow has siphoned of so many billions but they could not give out a dime of proof. Its just hearsay or is it just their imagination to create a web of deception to deceive the people just like in the last election when they tell the people there is so much bangla voting. It dawned on us finally that it is all a… Read more »
Where did you get the figure of RM55bn in assets?
Some cashflow problems? That’s an understatement.
Its liabilities are long term debts and with the evaluating of current properties in Penang and elsewhere its asset could go up substantially as land prices are now going higher. With the new IPO, there should not be any cash flow problem.
http://www.freemalaysiatoday.com/category/nation/2015/01/22/pm-defends-1mdb-says-assets-more-than-liabilities/
http://www.thestar.com.my/Business/Business-News/2015/02/19/1MDB-puts-a-halt-to-debts/?style=biz
I believe the properties have already been revalued to reflect the market price.
Sarawak Report had exposed that the joint venture was started with 1MDB having to pay US$700 million (RM 2.536 billion) of the initial cash injection into Petrosaudi’s parent company, Petrosaudi International, in order to repay a loan PSI had given to its subsidiary. The US$700 million was actually transferredto a company controlled by Jho Low, who is said to have engineered the whole deal after getting Petrosaudi International to agree to being a “front” for his benefit. The expose was published in cooperation with the British newspaper Sunday Times. While Jho Low’s team is yet to respond to the allegations… Read more »
Yes, but was that money and so-called profit ever brought back home?
Everything about 1MDB is OK if you read NST and Utusan. But Najib dare not be open about the transactions of 1MDB.
See my above comment. Najib has given the go ahead to the auditor general to verify the account. This show that he has nothing to hide. Moreover Parliament has cleared the management of 1MDB of any wrong doing
The Economist said the furore surrounding the fund was “unhelpful” for Putrajaya, noting that Najib’ standing at home and abroad relied partly on a reputation as a reliable guardian of Malaysia’s money, as he also serves as finance minister. Analysts have express concerns over 1MDB weighing down the country’s credit rating and ringgit.
Najib should have demonstrated impartiality to all Malaysians based on the noble principles of the NTP and not lead and encourage the other Umno leaders to keep ranting pro-Malay and anti non-Malay proclamations. Otherwise we will soon witness the end of 1Malaysia era before GE14.
Jho Low will be credited in Sejarah Malaysia as the chinese guy who fulfills the RAHMAN prophecy, besides bringing Psy to Penang.
gk ong ; You still believe in these nonsense. This is the 21st century
You still believe the nonsense that 1 Malaysia Dah Bankrap keep repeating.
gk ong. Maybe the likes of Jho Low and Paul Phua will replace Yap Ah Loy and Low Yat as great Chinese Malaysians in our Sejarah school syllabus in the near future.
Nonsense only from Yang the kaki bode of Umno.
Dr M vs Najib in extra time now, and if still even there will be penalty shootouts. Man in better be wise don’t get Rosie and Jho Low take the kicks..
Najib can still survive (but for how long?) in this cyber age of free info flow probably because the rakyat are forgiving?
Penangites should ask more freebies from Jho Low next GE should the alleged RM700 million easy money he acquire is indeed true?
Najib is now evoking the memories of his father and grandfather in a desperate bid to appeal to the sentiments of malay grassroots on top of his 7 mandates for malays. But could he be around as PM when GST kick off? 1MDB could be the knockout blow?
Tun Razak is portrayed as a frugal person, but the daughter-in-law does not seem to demonstrate such characteristic as evident in her expensive in-house hair treatment.
Good point Don!