10
Aug
15

Going Rogue: Malaysia and the 1MDB Scandal


A Malaysia of Cronies

All this is background. The practice continues to worsen in a Malaysia of cronies undermining good intentions and exploiting for self interest the very instruments designed to help others. The latest most visible instance of this is 1Malaysia Development Berhad, or 1MDB, an investment fund set up to steward the nation’s resources. Elsewhere in the world, international scrutiny of sovereign wealth management vehicles has led to their applying the highest possible standards of financial probity; indeed, among the world’s most respected, successful, and scrupulously managed of those is Malaysia’s own Khazanah Nasional. By contrast, 1MDB has seen billions of dollars of public money moved around the world in suspicious circumstances, with allegations that hundreds of millions of dollars were funneled into the prime minister’s personal bank accounts. (Malaysia’s anti-corruption agency has ruled that the money came from legitimate “donations,” without specifying who the donor was.) All of this has dragged down in the world’s eyes Malaysia’s otherwise globally esteemed financial infrastructure.

And the egregious actions continue: shutting down the press has become the next step in that escalation. In July 2015 Malaysian authorities blocked a website that had become a significant and honest whistleblower on high-level developments in Malaysia. That same month Malaysian authorities suspended The Edge newspaper for its reports on 1MDB. Criminal defamation litigation threatened by the prime minister against the Wall Street Journal on its 1MDB reporting turned into a fiasco of the most basic legal ineptitude. Towards the end of July Najib removed from Cabinet his own deputy prime minister, the government’s most significant and prominent voice to raise questions on 1MDB. While four different official Malaysian government investigations are underway, there has now been a sudden replacement of the attorney-general and chief prosecutor. The deputy public prosecutor and others involved in the Malaysian Anti-Corruption Commission have been arrested. The prime minister moved four members of the 1MDB parliamentary committee into his cabinet, thereby shutting down all further proceedings even as the committee’s official report comes due. Opposition MPs have been prevented from leaving the country on their way to discussing 1MDB and the political crisis in Malaysia.

In all this turmoil, many of Malaysia’s most remarkable leaders and numerous ordinary people have spoken out on the need for the country to get back to its roots. The country again needs to have a government that runs for the well-being of its people. Malaysia’s current political leadership no longer articulates a vision that serves Malaysia’s people. Malaysia’s leadership is no longer one admired by and hopeful for others around the world.

One of Britain’s greatest friends – a former colony that admired and reflected the grand British ideals of democracy, rule of law, free speech, and egalitarianism – has gone rogue.

It does not take authoritarian autocracy to run a country into the ground. Regardless of the system of government, it takes only political elites out of touch with their people, a co-opted judiciary, an electoral process that even while open fails to surface progressive leadership, and a system that keeps to the law but fails to protect those speaking truth to power. Malaysia now has all of these sorry attributes.

…more
Going Rogue: Malaysia and the 1MDB Scandal
By Danny Quah
August 05, 2015 – thediplomat.com

Advertisements

0 Responses to “Going Rogue: Malaysia and the 1MDB Scandal”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


Nuclear lessons for Malaysia (Part 1) (Part 2)
BN govt is directing attention to distant past and distant future, in order to distract people from present misdeeds and poor governance
Felda - A picture is worth a thousand words
How the 1MDB Scandal Spread Across the World (WSJ)
We cannot afford ridiculously expensive RM55 Billion ECRL!
All that is necessary
for the triumph of evil
is for good men
to do nothing.

- Edmund Burke
When the people
fears their government,
there is TYRANNY;
when the government
fears the people,
there is LIBERTY.

- Thomas Jefferson
Do you hear the people sing?

Archives


%d bloggers like this: