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Saturday, July 11, 2015

Salleh: Why anti-PM plots will damage nation

First the anti-Mahathir movement brought down the judiciary, now a loss of banking privacy
salleh,anti-najib
KOTA KINABALU: Sabah Umno leader Salleh Said Keruak has pointed to the potential damage to the country’s institutions as a result of movements to oust sitting prime ministers.
Previously, the movement to oust Mahathir Mohamad in the 1980s had resulted in damage to trust in Malaysia’s judiciary, he said today in a blog article.
“About 30 years ago Malaysia’s judiciary came under attack from the political masters at that time and until today the Malaysian judiciary has never fully recovered,” he said. Foreign companies no longer wanted disputes to be settled in Malaysian courts and preferred to have matters heard in an overseas court or through international arbitration.
Now the movement to oust Najib Razak as prime minister was causing damage to trust in the banking system.
“The trust in the Malaysian judiciary has been damaged. And now they are damaging the reputation of Malaysia’s banking system. And in both these cases this was because of attempts to remove the Prime Minister,” Salleh said.
He took issue with a recent Financial Times report that implied a loss of confidence in Malaysia among foreign investors because of many financial scandals.
Salleh, who is a staunch supporter of Najib, said: “What foreign investors are more worried about is that there is no banking secrecy in Malaysia and all your financial details can be freely distributed and posted on the Internet. That, the investors find even more frightening.”
News reports have carried details of private banking accounts purportedly held by Najib, into which about US$700 million had been deposited in 2013.
Latest reports have revealed details of accounts at Affin Bank held by Najib’s wife Rosmah Mansor, into which various sums of cash totalling RM2 million had been deposited. The reports revealed the account numbers and her name, address and phone numbers.
Private citizens have also revealed that they made test deposits of RM1 to find out if the accounts were real. Rosmah’s lawyers have confirmed that the accounts belong to Rosmah and were opened with the Perwira Habib Bank branch at Hotel Equatorial, when she was employed by property developers Island & Peninsular Bhd. The bank was later taken over and became Affin Bank.
Salleh pointed out the Financial Times had described as a “bailout” various matters concerning 1Malaysia Development Bhd and the Malay Mail (sic) had also implied that Najib must confess to having stolen RM2.6 billion 1MDB money.
“In other words, it is an open-and-shut case and no longer a matter that needs to be investigated. In that case why ask for an investigation to be done if the conclusion has already been decided?” he said.

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