Najib
The Chinese rejected him totally despite his declaring himself to be their brother.
Dr Mahathir Mohamad
1. I had worked hard to make Najib the Prime Minister of Malaysia.
2. But now I want him to be removed, to step down from being Prime Minister.
3. It is nothing personal.
4. It is because he has failed terribly as Prime Minister.
5. Very early I noted the wrong things he was doing.
6. We have been independent since 1957. We should be able to run our own country by ourself. Indeed we had been doing so for decades before Najib, and we did very well.
7. But Najib appointed several British officers as his advisers.
8. Najib appointed many foreign consultants to advise him on running the country.
9. These people cost billions of Ringgits but their advise were generally not good for the country. They knew nothing about the politics, economics and sensitivities of Malaysia. As a result the development of Malaysia has slowed down and the races are at each others throats.
10. Najib’s Government became extremely unpopular. Despite giving lots of money to the people, they rejected him in the elections of 2013. He performed worse than Abdullah, who was also rejected by the people. The Chinese rejected him totally despite his declaring himself to be their brother.
11. He antagonised the civil servants by setting up Pemandu to take over the job of the EPU. Pemandu non-Government personnel were paid very high salaries, far above the Government Salary Scheme. So annoyed were the Civil servants that a few, upon retirement joined the opposition party and stood as opposition candidates, something which never happened before.
12. The growth of the economy fell below those of the Philippines and Indonesia.
13. The currency depreciated and share prices went down badly creating problems for businesses, importers and exporters. The cost of living went up especially after the GST.
14. Then came the 1MDB scandal. A totally unnecessary fund was created which was to be financed by huge borrowings. The Government gave one million Ringgit as capital but 1MDB (1 Malaysia Development Berhad) borrowed 42 billion Ringgit from the market. It paid high interest of 5.9% and gave 10% commission to Goldman Sachs. Government never borrowed so much or paid such high rates.
15. 1MDB bought electric power plants at higher than market price. It also bought the debts of the power companies. Total cost was 18 billion Ringgit. 1 MDB lost so much money that it cannot pay the interest on the loans.
16. 1MDB bought Government land at 60 Ringgit per square foot when the real price is over RM3000 psf. Revaluing the land by 50 times, it claims its asset is bigger than its debts. This is like selling Approved Permits obtained free from the Government.
17. Then 1MDB entered into shady business with Petro Saudi as JV partner. It paid USD 1 Billion for its 40% share. Six months, later the JV was dissolved. But the USD 1 Billion together with another 700 million USD were converted to a loan to Petro Saudi. The money has now disappeared.
18. The only assets that 1MDB has are the power plants and the land in Kuala Lumpur. More than RM20 Billion of the 42 billion Ringgit cannot be traced or accounted for.
19. Then suddenly the Wall Street Journal reported that Najib had in his private account at the Arab Malaysian Bank USD700 million (amounting to RM2.6 billion at that time)
20. No PM of Malaysia or UMNO President can have that much money. All donations to UMNO are normally received and banked by the UMNO Treasurer. All assets are placed under the name of three trustees.
21. Never in the history of UMNO had there been more than RM250 million in cash. All other assets are in the form of shares, land and buildings. The President is duty-bound to hand over all donations to the treasurer for banking. The President never had UMNO money or money donated to UMNO for elections for example in his private account. There is no provision for UMNO accounts to be operated by the President.
22. Najib and his wife are well-known for a lavish life-style. Obviously millions were spent on the betrothal and numerous wedding ceremonies in Malaysia and Kazakhstan. Najib’s step-son spent hundreds of millions of dollars buying property in London, New York and California. He also financed the production of a Hollywood movie, “The Wolf of Wall Street” with over 100 million US Dollars.
23. On Najib’s salary as Prime Minister, it is impossible for him to spend millions on all these. A statement by the PMO claimed that the money for the foreign properties and film was inherited. It is impossible for Tun Razak, or Haji Noah or Rosmah’s father to have and leave hundreds of millions of Ringgit. They were not even known as millionaires. Najib’s brothers refuted the claim.
24. So where did the money come from. Najib claims the 2.6 billion Ringgit was donated to him by an Arab. This is ridiculous. Nobody ever gives that amount of money to anyone. And Najib cannot prove that the Arab had given the money.
25. And so a special task force consisting of the A.G, the Anti Corruption
Commissioner, the Governor of Bank Negara and the Inspector-General of Police was set up to investigate the source of the RM 2.6 billion in Najib’s private account at The Arab Malaysian Bank.
26. The Public Accounts Committee of the Dewan Rakyat was also investigating what happened to the RM42 billion Ringgit borrowed by 1MDB. So was the Auditor General.
27. Suddenly Najib sacked the Attorney-General claiming he was sick. The A.G denied he was sick. There was no certificate by doctors to prove he was sick. Najib had no right to claim that the A.G was sick.
28. At the same time the head of the Anti-Corruption Commission was said to have gone on leave. The Governor of Bank Negara was silent. Later she stated she was afraid of being arrested.
29. Two of the Government members of the PAC were made deputy ministers and another two given other jobs. They could not carry on their work as PAC members. The PAC was without a Chairman and its investigation of 1MDB has stopped.
30. Two members of the Anti-Corruption Commission were arrested, released and transferred to the PM’s office. After complaints were made they were transferred back to the Commission.
