What is Brewing at Finance Ministry?

A Kadir Jasin

WHEN a UK-based Malaysia blogger known for his keen support of the Prime Minister, (Datuk Seri I Mappadulung Daeng Mattimung Karaeng Sandrobone Sultan Abdul Jalil) Mohd Najib Abdul Razak, viciously attacked Finance Ministry Secretary-General, (Tan Sri) Irwan Serigar Abdullah, some days ago, I refrained from commenting.

The blogger accused Irwan Serigar of leaking confidential information regarding the aborted sales of Bandar Malaysia shares to the Malaysia-China IWH-CREC Consortium.

I thought it was nothing more than the pro-Najib operators being at each other’s throat as they often do. The quarrels among Najib’s cybertroopers were so bad that back in 2014 he dubbed them “bangang” (stupid). Furthermore, the said blogger is known for being outrageous.

Back in 2008 he penned a statutory declarationclaiming that Najib’s wife, (Datin Paduka Seri Puan Puti Reno) Rosmah Mansor, was one of three individuals who were present when Mongolian model, Altantuya Shaariibuu, was murdered on 19 October 2006. He later retracted the accusation.

It is believed that he was later recruited by Najib’s propaganda machine to write favourably about his former nemesis and to attack Najib’s opponents. That’s what he has been doing thus far.

I must say that his attack on Irwan Serigar was a pretty enjoyable reading. It has all the elements of a good an X-rated movie – power, women, money and, in place of the old videotape, the Instagram application.

Irwan Serigar Abdullah

But his allegations against Irwan Serigar took a dramatic turn when Najib was reported to have ordered an investigation into “potential conflicts of interest” in the sales of the Bandar Malaysia shares by a government committee called Budiman.

The newly launched news portal, The Malaysian Insight quoted as source as saying that Najib wants the deal investigated after meeting representatives of the Malaysian Anti-Corruption Commission (MACC), the police and the Internal Revenue Board (IRB).

It quoted the source as saying: “The PM met with Malaysian Anti-Corruption Commission (MACC), police and Internal Revenue Board (IRB) and instructed them to look into the matter of potential conflicts of interest and others areas which could be an issue with respect to these decisions and any interested parties.”

Among key members of Budiman were Finance Minister II (Datuk) Johari Abdul Ghani and 1Malaysia Development Berhad president Arul Azrul Kanda Kandasamy. The committee was formed last year to manage 1MDB’s debt rationalisation plan.

Arul Azrul Kanda Kandasamy

The Malaysian Insight said, Najib who is also Finance Minister (and 1MDB’s Malaysian Official 1) announced that Budiman had been disbanded although the 1MDB debt rationalisation plan is incomplete until Bandar Malaysia issues are settled.

Has the power struggle in the Ministry of Finance boiled over?

And are we seeing the Johari-led team is being overwhelmed by the Irwan Serigar’s group?

It appears to be so. Najib said Arul Kanda remains 1MDB president but is no longer on the boards of Bandar Malaysia Sdn Bhd and TRX City Sdn Bhd.

On the other hand, Irwan Serigar is now in charge of all matters concerning 1MDB land assets, which had been transferred to the Ministry of Finance (MoF).

More interestingly what is going to happen to Johari?

Is Johari being squeezed?

 Losing to Irwan Serigar – a civil servant - is not very honourable for this up and coming politician. But the prospects of being abandoned by Najib is worse.

Is he the scapegoat that would be slaughtered to appease the gods in Beijing who are unlikely to be amused with cancellation of the share sales to CREC?

Or is this yet another attempt to pull the wool over the people’s eye when the actual game plan is to revalue Bandar Malaysia in an attempt to raise more political funds for the coming general elections?

Wallahuaklam.