Apparently, there is a strong rumour to the twist of the story that RM30 million channeled meant for Prime Minister Dato’ Sri Mohd. Najib Tun Razak’s political purposes which went through his youngest brother, then CIMB Group CEO Dato’ Sri Nazir Razak.
It was reliably informed that during the ASEAN Summit in Phnom Penh in 2012, entrepreneur duo who made it meteoric big with their fancy marketing gimmicks and creativity of the industry on top of quick insults, had met up Prime Minister Najib with Nazir.
However, after the Neo-Con Jewish controlled media broke the story about Nazir was involved in political donations precursor to the 13GE, he was quick to show remorse.
The Straits Times story:
Nazir expresses regret over disbursing funds
PUBLISHEDAPR 2, 2016, 5:00 AM SGT
KUALA LUMPUR • Malaysian banker Nazir Razak said he wished he had not passed on funds from the account of his brother, Malaysian Prime Minister Najib Razak, to Umno politicians ahead of the 2013 general election.
The Wall Street Journal (WSJ) reported on Thursday that Datuk Seri Nazir received US$7 million (S$9.4 million) transferred into his account from his older brother’s, and the money was then disbursed to party politicians ahead of the polls.
In a posting on Instagram late on Thursday, Mr Nazir clarified that he had been asked by Datuk Seri Najib “to urgently help pass on cash to party machinery”, and that he “assumed and believed, in good faith, that the funds came from legit political fund-raising”.
The youngest brother of PM Najib said that he understood the furore over the revelations and “in hindsight” wished he hadn’t done it. He assured netizens that not a cent of the money was retained by him.
Mr Nazir has been critical of the state of Malaysia’s institutions and politics, and has slammed sovereign wealth fund 1Malaysia Development Berhad (1MDB) and called for its board to resign. Thus, his involvement in the disbursement of political funds has drawn surprise.
CLARIFYING THE ISSUE
Earlier, the WSJ said that Mr Nazir, who was chief executive of CIMB at the time, confirmed in a statement that the money was distributed in accordance with instructions from party leaders.
He also said he believed the money was from donations he helped to raise from Malaysian companies and individuals for the election.
“I had no knowledge whatsoever that these funds may have originated from any other source,” he said in the statement. “The entire amount was paid out in cash to various recipients according to the instructions of the party president, and the account was closed with a zero balance.”
The duo who became talk-of-the-town not only around the region but in the industry, were said to have pledged “To help for political purposes”.
Hence, it is believed that the RM30 million came from them and channeled through Nazir.
It is also believed that during the pledge were made, it was at the tail end of a ‘share-swap’ deal of a ‘backdoor hostile take over of a GLC’. It is also believed then that cash was in abundance with them and their business group.
If so, the said monies were “Legit” and most probably Nazir need not worry about the source of the said monies.
Nazir on Instagram:
In run-up to GE13 I was asked by my brother/party president to urgently help pass on cash to party machinery. I assumed and believed, in good faith, that the funds came from legit political fund-raising. Entire amount was distributed, not a sen retained by me.
MR NAZIR RAZAK, on his Instagram.
There is also a high probability that the said monies never went through Prime Minister Najib’s personal account, unlike the alleged but very popular notion with regards to the USD 681 million received from donors in Saudi.
The entrepreneur duo have a very skewed way of getting noticed. Taken that one is almost elusive but the alpha character is very loud and often his insulting quick remarks belittled and demeaned any parties in obstacle of his entrepreneurism greed.
Even the parties which provided them the opportunity, space and slack for their business to growth, amidst the challenges, are not spared.
What is baffling is the slack that the Government had given them, to have their meteoric growth around the region. Many times, circumventing the strict industry practices and convention.
This is a good opportunity for Nazir and/or the entrepreneur duo to come out and explain for or against these rumours. After all, one of them sits in a media BoD.
It is baffling how Nazir could make statements such as “Terrifies ” when he was part of the machinery which so many is passing negative judgment about the Malaysian political system.
Malaysian Banker Nazir Razak Concerned about Country’s Financial Future
February 2, 2016 — 10:08 AM HKT Updated on February 2, 2016 — 4:58 PM HKT
Malaysia’s Market Integrity Is Intact: Minister Wahid
As Malaysia’s government seeks to shut the door on one funding furor, another opens.
Rolling scandals that have hit the country for seven months have the premier’s brother, a senior banker, likening the climate to HBO’s “Game of Thrones”.
The future for Malaysia “terrifies” him, Nazir Razak wrote in an Instagram post on Saturday.
That was a day after the Swiss Attorney General’s office said a probe of debt-ridden government investment fund 1Malaysia Development Bhd. revealed “serious indications” that about $4 billion may have been misappropriated from state companies in the Southeast Asian nation.
Just last week, Malaysia’s attorney general cleared Nazir’s elder brother, Prime Minister Najib Razak, of wrongdoing in receiving a $681 million personal donation from the Saudi royal family in 2013, as well as funds from a company linked to 1MDB. Of the Saudi funds, $620 million was later returned.
Malaysia will cooperate with Swiss authorities and review the findings before determining a course of action, Attorney General Mohamed Apandi Ali said on the weekend. 1MDB said it hasn’t been contacted by any foreign legal authorities.
Najib is “not one of the public officials under accusation,” Andre Marty, a spokesman for the Swiss attorney general’s office, said Monday in a statement.
The premier’s office declined to comment on the matter or on Nazir’s comments. The prime minister said after his exoneration by Apandi that the Saudi donations probe was an “unnecessary distraction” for Malaysia.
As some overseas probes continue into 1MDB — whose advisory board Najib chairs — questions have been raised by opposition lawmakers and Najib’s critics over the robustness of agencies overseeing Malaysia’s governance.
The imbroglios have led to calls for Najib’s ouster from the opposition and former premier Mahathir Mohamad, and recalled Malaysia’s decades-long struggle with corruption and money politics.
“The parallels with Game of Thrones continue,” wrote Nazir, chairman of CIMB Group, one of the country’s biggest lenders.
“I just can’t see how our institutions can recover, how our political atmosphere can become less toxic, how our international reputation can be repaired.”
On Monday Nazir said he did not wish to comment further. Nazir and Najib have been seen interacting at public events and Nazir posts some of those pictures on his Instagram account.
The scandals come at a time growth and investment are slowing. Investments in manufacturing, services and primary sectors fell 15 percent in the first nine months of 2015 compared with the year before. The government last week trimmed its growth expectations for 2016.
“With the economy flagging, inflation rising and markets losing ground, the policy challenges are growing, exacerbated by the latest falls in the oil price,” Christine Shields, lead economist at Oxford Economics, said in a January report.
“Despite strong policy discipline and good technocratic management, strains are emerging.”
Perched on the lower end of peninsular Southeast Asia, Malaysia is a conduit for trade between Europe and Asian economic powers like Japan and China. Bigger in area than all but four U.S. states, Malaysia is a net oil and gas exporter and the world’s second-largest producer of palm oil.
Malaysia’s score worsened in Transparency International’s Corruption Perceptions Index for 2015 released last week, putting it on a ranking near Slovakia, Kuwait and Cuba. Issues related to 1MDB contributed to the nation’s fall on the global list to 54th from 50th in 2014, according to the Malaysian head of Transparency International.
In November, Nazir posted a picture on Instagram of his first investor roadshow in London in 1992, saying he had “been promoting Malaysia for a long time and it has never been tougher than now due to 1MDB and related issues.”
Foreign investors pulled 30.6 billion ringgit ($7.3 billion) from stocks and bonds in 2015 and helped send the currency to a 17-year low.
Najib has faced challenges before, including the campaign by Mahathir to get him out. In power since 2009, Najib has removed detractors including his deputy premier and an attorney general who was part of a team investigating the funds that went into his personal accounts.
He silenced critics at a meeting of the ruling party in December and is wooing the ethnic Malay majority by bringing his United Malays National Organisation closer to the main opposition Islamic party.
“It’s not uncommon to see changes in top positions in Malaysia,” said Samsul Adabi Mamat, a political science lecturer at the National University of Malaysia.
“It’s a smart move for any leader to strengthen his leadership machinery, and when that is done, policy implementation will all be in the same direction.”
1MDB has consistently denied wrongdoing, or transfers of funds to Najib. It agreed in November to sell its power assets to a Chinese company in what many see as moving it a step closer to winding down operations.
Malaysian authorities have been waiting to hear from Swiss prosecutors for many months on 1MDB, Communications Minister Salleh Said Keruak said Tuesday in a statement. The “premature” statements from the Swiss Attorney General’s office appear to have been made without the full facts, Keruak said.
In response to queries on 1MDB, Singapore said Monday it had seized a “large number” of bank accounts in connection with possible money-laundering carried out in the country.
“Malaysia could come to be misunderstood despite its potential” as 1MDB pops up on international news headlines time and again, said Wellian Wiranto, an economist at Oversea-Chinese Banking Corp. in Singapore.
Najib, who has the support of the bulk of UMNO divisional chiefs, has time to regain the trust of voters. But it’s crucial for him to revive the economy, said Norshahril Saat, a fellow at the ISEAS-Yusof Ishak Institute in Singapore who has studied Malaysian politics for a decade.
“This is a test of how the government can communicate with the public effectively,” he said. “Society constantly wants answers.”
It is known that the three of them are very close. Coincidentally, were the key personalities which saw one of the GLCs being ‘share-swapped’ in a lopsided deal almost five years ago.
This is the best for the three of them to explain themselves. Not just this but other stories about them before this. Especially seemingly habitual Nazir, who was quick to ‘bastardise’ (faux pas) with his tendency of send-button-happy traits.
After all, the demand for disclosure has never all time been this high as the preferred flavour, throughout the past one year.