Like it or not, Najib wins this round
Despite ongoing international probes into 1MDB, it is likely that the Opposition has been outplayed
Scott Ng, Free Malaysia Today
The release of the Public Accounts Committee report on the 1MDB scandal has been trumpeted as sweet vindication for our Prime Minister.
For the better part of the past 12 months, Najib Razak has been judged in the court of public opinion as a dictator, a perpetrator of grand corruption, an accessory to murder and even a coward. There have been videos of football fans belting out songs that call for his resignation, art works depicting him as a clown and even a case of someone screaming a profanity at him as he made his way through a crowd.
These have all instilled a belligerent mood amongst the rakyat, and the PAC report is not likely to silence his most ardent detractors. However, even with the investigations in Hong Kong, Switzerland, the United States and Singapore continuing, it is likely that the PM has won this round.
The latest news has been nothing but positive not only for Putrajaya, but ordinary citizens as well. 1MDB has put out statements acknowledging its failures and saying that the repayment of its huge debts is well under way. The ringgit has rallied, buoyed by stronger oil prices and returning investment that had been spooked by the perceived instability of the political situation here. Several mega projects that may prove a boon to the economy – like the High Speed Rail – are on the cards, Sarawak will receive unprecedented levels of development expenditure upon BN’s expected win, and Johor seems to be coming into its own.
There is not much other than the sweltering weather for the layman to complain about. For Najib’s opponents, it must seem like throwing oneself against a steel wall endlessly. No matter how bad it gets, nothing seems to get him.
The fact is that the iron has cooled, and the release of the PAC report assures Najib and his supporters that he is unassailable, at least in Malaysia. He is cleared in the eyes of the law here, and an investigation is merely an investigation unless something concrete is found and brought to court. The Opposition will surely fight against the notion that the PAC’s final report is the last word on the 1MDB issue, but unless a smoking gun is turned up, the PM has no reason to believe his unified front will crumble.
