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Showing posts with label Corruptions. Show all posts
Showing posts with label Corruptions. Show all posts

Sunday, February 25, 2024

Poor ringgit performance due to a lack of competitiveness in Malaysia, a 28-year-old problem as a result of 1MDB financial scandal and the subsequent corruptions.

 

The ringgit's poor performance can be attributed to a lack of competitiveness in Malaysia over the past 28 years, says a World Bank economist. Apurva Sanghi said this was partly a consequence of the 1Malaysia Development Bhd (1MDB) financial scandal.

 

PETALING JAYA: The ringgit’s poor performance can be attributed to a lack of competitiveness in Malaysia over the past 28 years, says a World Bank economist.

Apurva Sanghi said this was partly a consequence of the 1Malaysia Development Bhd (1MDB) financial scandal.

“Weak ringgit is ultimately a symptom of long-term decline in Malaysia’s competitiveness,” Apurva said on X.

The economist said while many Asian countries also slid following the 1998 financial crisis, Malaysia’s lack of reforms had affected its economy in the long run.

He added that Malaysia opted for short-term solutions to boost the ringgit in the immediate aftermath of the financial crisis.

Apurva said it consequently hurt the currency in the long run, adding that the government’s measures resulted in its GDP and exports falling.

He said the Thai baht and South Korean won outperformed the ringgit as both countries arguably reformed the most after the financial crisis.

Separately, Perikatan Nasional chairman Tan Sri Muhyiddin Yassin said the government should own up to its own failures instead of pointing fingers at others.

Muhyiddin said it is unreasonable for the government to blame the Opposition for the fall of the ringgit when they are the ones in power.

“They are the government of the day and have the responsibility, role and power to manage the country,” he said during his Pagoh constituency Chinese New Year celebration at a temple in Bukit Pasir yesterday.

The Pagoh MP was responding to former Sabah chief minister Datuk Seri Salleh Said Keruak, who said the Opposition’s constant claims about trying to topple the government mean they should shoulder some of the blame for the weak ringgit.

 

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Soul-searching for ringgit solutions





Tuesday, October 10, 2023

Former Goldman Sachs Malaysia banker Roger Ng returned to help in 1MDB PROBE





KUALA LUMPUR: Former Goldman Sachs banker Roger Ng (pic) has arrived in Malaysia to assist investigations on the 1Malaysia Development Bhd (1MDB) scandal.Inspector-General of Police Tan Sri Razarudin Husain confirmed that Ng arrived in Malaysia at about midnight.

“He has already arrived in Malaysia and is under police custody. However, I cannot divulge more details on the matter for security reasons,” he said when contacted yesterday.

The IGP also did not indicate when Ng would be brought to court to face charges.

The Attorney General’s Chambers have yet to respond to queries regarding Ng’s return to Malaysia.

  
Officials from the Malaysian Anti-Corruption Commission said the former banker’s return was a matter handled by the police.

Home Minister Datuk Seri Saifuddin Nasution Ismail previously said the government’s priority with Ng’s return was to ensure the return of all assets linked to the case.

Saifuddin said Ng was allowed to attend trial in the United States, where he had been convicted but had not yet started serving his jail term.

Last Thursday, Chief US district judge Margo Brodie in Brooklyn had ordered Ng’s surrender to the US Marshals Service by Friday so that he could be turned over to Malaysian law enforcement, who then transported him home.

Ng is facing 10 years in jail in the US after being convicted in New York of helping to loot billions of dollars from 1MDB and would be required to begin his prison term upon his return to that country.

On Sept 5, Singapore’s central bank had banned Ng, also known as Ng Chong Hwa, for life, saying that his “severe misconduct” made it “contrary to public interest to allow him to carry on business as a representative”.

Brodie sentenced Ng in March, 11 months after jurors found him guilty of helping former Goldman boss Tim Leissner embezzle money from 1MDB, launder the proceeds and bribe government officials to win business.

Ng was arrested in Malaysia in November 2018 and agreed to be extradited to the United States.


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Friday, November 11, 2022

Liberate the MALAY MIND



This is the strongest criticism yet, written by a Malay about the contemptible Malay power elites.

Apa Malu!

Malays-and-muslim-two-of-a-kind-corrupt-arrogant/

aloq staq awez khan ali Selamat Pagi Malaysia

The Malays are a broken people. Broken by our own leaders. Broken by the antics, greed, and hubris of Malay political leaders lost in a world where self-interest and nothing else, matters. It is a world where these political pariahs take every advantage of any opportunity to make themselves some money.

Whether these political pariahs are stealing money from Tabung Haji where Malays have saved their hard-earned cash in order to do their holy pilgrimage to Mecca, or getting commission and kickbacks in the purchase of Covid 19 vaccines which are critical to the saving of Malaysian lives – especially the most vulnerable Malaysians – the old and those in the front lines fighting the pandemic by putting their own lives in danger.

Whether it is playing Russian roulette with the lives of our Armed Forces by purchasing submarines and weapons not fit for purpose that could result in the death of our Armed forces or not providing them with Helicopters and weapons that they need to defend our nation and our people against any encroachments from without.

Our children’s education is disadvantaged by the hundreds of millions siphoned from the Ministry of Education budget. Money allocated to buy solar panels, laptop, text books and the construction of schools to anything else that our children would need for their education – the contracts to supply these items are grossly inflated to pay off politicians and even the ex PM’s wife, Rosmah Mansor.

They even take money from suppliers of food and drinks for our students. There is simply no limit to what these political pariahs will do to make money.

And as if the education of our children is not sacred enough for them to leave alone, the Islamic religion is also a source of funds for these political pariahs. They have no shame, they have no sense of fairness and certainly, there are without morals and ethics in their greed for anything they consider of value for themselves.

And the most despicable of things they do is for PAS to use Islam to benefit their political pariahs. And as if it is not enough that these political pariahs steal, their wives, children, and extended family are also into the thieving.

I spit upon these political pariahs.

These political pariahs are still today free to roam and plunder our nation at will. All of them Malays. Most of them are old. All of them must be discarded and punished for what they have done in plundering our national coffers. What they have plundered from our coffers must be taken back from them and put to good use to help our nation get back on its feet and prosper.

The narrative spun over and over again: that the Christians will destroy Islam, that the Chinese and DAP will take over the country, and that the Malays must have the political power to survive in their own Tanah Air is stale and are no longer relevant in the world the Malays live in today.

Let us get rid of these Malay political pariahs and banish them where they can no longer shame the Malays by what they do. 

We know who they are, and it is time that these political pariahs be held to account for what they have done to the Malays.

Whether they are Prime Ministers, Ministers, Menteri Besar, all those loathsome and despicable Yang Berhormats or those little Napoleons who think that being a Malay gives them license to behave in an obnoxious manner to other Malays, and anybody else that question their plundering of our nation’s resources.

Let us start by making sure the Father of all Plunderers, Najib Razak, is in incarcerated immediately, to be followed by his wife, Rosmah Mansor and anyone else who has been the cause of the fall and fall of the Malays.

Today I am ashamed to call myself a Malay. Being a Malay means you have to take responsibility for what these Malay Political Pariahs have done. 

Today being a Muslim in Malaysia is nothing to be proud of because all these plunderers, thieves, and scammers are Muslim. The non-Malays do not have to tell us these things.

There are many Malays today who can think, and we know what Malays have done to our country. You do not have to tell us how much the non-Malays have contributed to the development of Malaysia. We Malays know. You do not have to tell us that Malaysia is also your home. That too, we know. And we know that the Malays have been left behind by the others because it is all there for the Malays to see.

The best politicians are not Malays. The least corrupted politicians are not Malays. The most hard-working politicians who deliver on their promise to their electorates are not Malays. But this much we Malays know. The most corrupted politicians in Malaysia are Muslims. The most arrogant politicians are Muslims. And the politicians who do not deliver on their election promise are also Muslims.

So there you have it, this nation of ours has been brought to its knees by corruption and the political shenanigans and devious duplicity of these Malays and Muslims. And you and I know that it will also have to be the Malays and Muslims who will have to work to get these political pariahs into the dock, to be tried, convicted, and incarcerated if there is to be any hope for our nation to survive past 2020.

Enough said. 

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Apa Malu ! Apakah Orang Melayu Makin Sedar Siapa Musuh ...

 

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