There’s nothing much to elaborate here. The title of this article is self-explanatory. The Wall Street Journal’s latest bombshell is to tell all and sundry two things. First, someone from the Bank Negara Malaysia (Malaysia Central Bank) is super pissed that a “wolf” is about to be appointed as the most powerful person in the country’s financial institution.
Second, if this news is proven true next week, it simply means that whatever the Wall Street Journal has been exposing about Prime Minister Najib’s involvement in the 1MDB scandal is the truth, the whole truth and nothing but the truth. So, will Najib Razak deliberately appoint someone else just to prove the WSJ lies (*grin*)?
It’s safe to bet that outgoing Bank Negara Governor Zeti Akhtar Aziz, out of frustration, might be the person who leaked the information to the WSJ. And she’s mad because to appoint Mr. Irwan Serigar Abdullah is like putting a wolf in charge of the hen house. The jokes – “Serigar” really sound like “Serigala (wolf in Malay language)” hence there could be more scandals.
But what’s so bad about sending Mr. Irwan Serigar, presently the secretary-general of Ministry of Finance, to the hen house? That’s because this guy is one of Najib Razak’s greatest followers. Regardless whether it’s GST, 1MDB scandal, Ringgit depreciation or bailing out of 1MDB using Tabung Haji’s fund, his fingerprints are all over the place.
Irwan Serigar sits on the board of 1MDB as an advisor. That alone is sufficient to tell you why Zeti is freaking disappointed. If you still couldn’t see why his appointment is such a big deal, consider this. Apparently, he also sits on the board of directors of at least 25 other companies (as end of 2014). That surely screams “conflict of interest”, do they not?
His interest includes Malaysian Airline System Berhad, Cyberview Sdn Bhd, Padiberas Nasional Bhd, Islamic Development Bank, Malaysia Deposit Insurance Corporation (PIDM), AmanahRaya Real Estate Investment Trust, Felda Global Venture Holdings Berhad (FGV), Petronas, FELDA, MRT Corp, Khazanah and Razak School of Government, among others.
He is also the Chairman of Lembaga Hasil Dalam Negeri (LHDN) or Inland Revenue Board (IRD). This might explain why Najib Razak was laughing his head off when former premier Mahathir repeatedly asked why the income tax department hadn’t take any action against the prime minister’s RM2.6 billion in donation. Now, we know it’s non-taxable after all (*grin*).
Serigar was reappointed as Chairman of Retirement Fund Inc.’s (KWAP) Board and Investment Panel on 1 March 2013. Amazingly, he serves as a Board of Director of Employees Provident Fund (EPF) too. Does this ring a bell? Well, coincidently, both KWAP and EPF have invested more than RM3 billion in 1MDB and subsidiaries.
Together with Lembaga Tabung Haji Chairman Abdul Azeez Abdul Rahim, Mr Irwan Serigar (a director) was equally controversial, if not guilty, in the decision of subscribing RM920.8 million of the sukuk raised by 1MDB. Can you guess who else are on the board of Tabung Haji? Well, Mr. Apandi Ali, the attorney general cherry picked by PM Najib Razak, of course.
There’s also Mr. Ismee Ismail who sits on both the board of Tabung Haji and 1MDB. Now, do you understand why Tabung Haji had easily parted away RM188.5 million of Malaysian Muslims’ hard earned money in the purchase of a plot of land at Tun Razak Exchange last year? And these directors have the cheek to declare there wasn’t any conflict of interest.
Clearly, Mr. Irwan Serigar Abdullah is the best candidate to replace Zeti Akhtar Aziz, as far as PM Najib Razak is concerned. Serigar sits on so many boards of directors that he is guaranteed to lose everything if he doesn’t do everything in his power to protect big boss Najib – salaries, perks and even insider information by virtue of him sitting on the board of Securities Commission.
Therefore, if Apandi Ali was deliberately picked as Attorney General to clear Najib of money laundering, corruption and misappropriation of funds from the legal perspective, Irwan Serigar is to be appointed in order to clear the prime minister from any financial irregularities. Prepare yourself for the announcement – that all of 1MDB’s financial transactions were approved by Bank Negara.
Other Articles That May Interest You …
- Losing Social Media War – After 86,000 Angry Emojis, It’s “#SuspectMyPM”
- Sorry Najib, Saudi King Salman Can’t Help – These People Are Watching!!
- FB Angry Emoji – CY Leung Gets 170K, Najib Razak Most Hated In ASEAN
- Apandi, Thanks For Making 1MDB “Alive” & “Scandalous”, Again
- Najib’s Twin Scandals – It’s Not Over Yet, It’s Just The Beginning
- WSJ’s Last Bombshell For The Year – Najib’s $700 Million Came From 1MDB
- Thanks, “Taichi Queen” Zeti – Now Everyone Can Do Money Laundering
- Here’re 14 Crazy Facts How Huge (1MDB) RM42 Billion Debt Is
- PM Najib’s Exit – Here’re His Cronies & Stocks You Should Avoid
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March 13th, 2016 by financetwitter
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Comments
Calm down layman,
Legally here means the country’s top lawyer – Attorney General – had decided not to prosecute PM Najib, and there’s nothing even Barack Obama can do about it because A.G. Apandi was appointed & endorsed legally – by Agong (King).
Whether the process / method of the clearance carried out was correct or otherwise is another matter. Heck, there could be elements of corruption or conflict of interest on the matter but Apandi doesn’t care.
Like it or not, A.G. decides who to prosecute and who to be let go free. In the world of technology, this is called SPOF (single point of failure) – if this guy fails to do his job, problems start happening.
So, after the top lawyer cleared Najib, a new Bank Negara Governor (assuming Serigar would get the job) is about to clear the prime minister of irregularities, of which the present Zeti refuses to do.
Of course, everybody knows why the country’s No.1 prosecutor and (soon) No.1 bank governor clear the prime minister.
Cheers …
Absolutely terrible.
That being said, would you care to provide references and reliable sources for information surrounding the membership of Apandi and Serigar in the aforementioned corporate and governmental investment bodies?
Apandi did not clear Najib ‘legally’. Why not call a spade a spade.
Apandi cleared Najib illegally and unlawfully. As AG/PP, he hasn’t got the power to clear anybody of criminal charges or allegations.
That fella is a nincompoop, a dimwit and a stupid ex Fed court judge.