Anwar at UNGA

This article has been edited for  scoop.my

Heading: Anwar Ibrahim’s much-awaited UN General Assembly debut

Sub: Between his address to over 100 world leaders and a rare khutbah at New York’s oldest mosque, the PM will attempt to make Malaysia’s “rightful claim” as global middle power

By ROCKY BRU

New York: Malaysia’s flamboyant ambassador to the US Mohamed Nazri Abdul Aziz describes his job as “an easy one”. “I’m lucky. My job is made easy and it’s because of who the Prime Minister (of Malaysia) is and how he is perceived.”

I had just asked him if he had managed to change how the Americans view Malaysia after taking up the job in February.We were at Malaysia’s Permanent Mission in New York after a briefing for Malaysian journalists by Foreign Minister Zambry Kadir, who is in New York ahead of PM Anwar Ibrahim’s maiden address to the 78th UN General Assembly. 

Nazri, 69, has a long Cabinet career, having served several PMs, notably as the de facto Minister of Law when in Dr Mahathir Mohamad’s Cabinet. But since Anwar became PM in November last year, Nazri said the perception of Malaysia, especially in the US, has changed and changed for the better.

“Largely, Anwar is perceived by the Americans as a leader who upholds democracy, the rule of law and transparency,” he added.

Anwar, who arrives in New York today, will not only be addressing (over 100) world leaders attending the UNGA (Friday 10 pm Msian time). He is also being accorded the singular honour as the first world leader to deliver a Friday sermon at the Islamic Cultural Centre here.

Zambry, underscoring the importance of the khutbah Jumaat the PM is delivering this Friday, said the growing divide between the global South and developed North and the rise of Islamophobia mean there was a need to bridge the various gaps of priorities and principles.

The former Perak Menteri Besar has been busier than usual in the weeks leading to the General Assembly, traveling from one time zone to another to spread the word on Malaysia’s new foreign policies under Anwar’s madani. 

Last week, for example, he was in Havana, Cuba attending the G77+China Summit where he urged the South to stop indulging in self-pity and blaming others. Before that, in Jakarta for the ASEAN leaders’ meeting, he articulated a rare, strongly-worded warning against Myanmar. And last month when in Tehran to re-establish ties with Iran, Zambry condemned the US for prolonged sanctions on the Muslim country.

Zambry has assimilated quite a team to support Anwar at UN, which include four Members of Parliament, the deputy chief ministers of Sabah and Sarawak. Bursa Malaysia CEO Umar Swift and Khazanah Nasional Berhad managing director Amirul Feisal Wan Zahir are also in the delegation to lay the groundwork for the PM in matters related to investment and business.

MITI Minister Tengku Zafrul Abdul Aziz got in late yesterday and, following a blitzkrieg of meetings with CEOs, quickly announced foreign direct investments into Malaysia involving American interests valued at some RM2 billion. 

“My job has also been made easier. It’s easy to ‘sell’ the (Anwar) brand to these investors. Of course, we have to work hard and act quickly as the windows of oppotunity don’t stay open for long periods of time, but we’re on it,” Zafrul said at a meeting with Malaysian journalists at Conrad Hotel on West 54th, where the PM and official delegation are staying. 

Interestingly, in trade as with politics, Malaysia finds itself in the middle. Zafrul spoke of a “trade war’ involving the US and China and how American corporate entities, notably in the semiconductor, are leaving China for Malaysia. Asked by the Group Editor-in-Chief of The Scoop, Terence Fernandez, if he was not worried of getting in the way of the two feuding powers, Zafrul said both the US and China are Malaysia’s largest trading partners. 

“Sometimes we have to behave like opportunists, but the windows (of opportunity) don’t stay open forever. Moreover, we still have to compete with others in the region, especially Vietnam,” he said.

Zambry, meanwhile, said Anwar has agreed to be interviewed by CNN and Bloomberg in between his meetings with chief execs from Fortune 500 Companies and closed-door meetings with heads of governments, among others, President Erdogan of Turkiye, a key Malaysian ally in combating Islamophobia and in fighting for the rights of Palestine.

Howard Lee Chuan How, the MP for Ipoh Timur, who is one of the young politcians Zambry has selected to be in Team Malaysia, said Anwar should be leaving a huge impact on the US with his UNGA, the New York khutbah Jumaat and everything else in between.

“Anwar’s commitment in New York and the UNGA as well as the size of the delegation that Wisma Putra has sent here is indicative of Malaysia’s seriousness in assuming our rightful place in the world as a global middle power,” he said.

Ah, Wong Chun Wai!

Wong Chun Wai, the former editor-in-chief of The Star, will be made this afternoon the new chairman of Bernama, the national  news agency, sources said. If I’m not mistaken, he’ll the first non-Malay to be appointed to the post. Wong has never served Bernama as a reporter but that has never been a pre-requisite; his predecessor Ras Adibah Radzi, who joined the Opposition a little too hastily (I thought) after the end of her tenure as Bernama chairman (and senator) earlier this year, was also never a Bernama employee. Chun Wai has been a journalist for about 40 years and the circumstances surrounding his appointment to Bernama had been much talked about. With his vast experience as editor and non-editorial executive of one of the most profitable newspapers in the country, Chun Wai is expected to turn Bernama into a financially self-sustainable entity, for once. 

The 62-year old was not the first choice, apparently. The post had been offered to Meor Kamarulbaid Mior Shahid, the former Berita Harian editor, but they discovered that Meor was past 70 and, therefore, overaged. 

The best analysis on the 3:3 outcome of the State Elections goes to …

Damansara, 14 Aug (a public holiday in Selangor): Of all the analyses on the outcome of the six-state elections, I like one dished out by Liyana Marzuki the most. The Scoop has the story: Mereka bukan menang besar, mereka hanya sembang besar [They didn’t win big, they only talked big]. 

The self-confessed Unity Government advocate didn’t mince her words in her analysis, reminding the people of how cocky Muhyiddin Yasin and Dr Mahathir Mohamad were in their prophecy of a landslide defeat for Anwar Ibrahim’s UG (the Bersatu president said Perikatan Nasional could win all 6 states if Malay voter turnout exceeded 90% while Dr M predicted a 1-5 defeat for Anwar). 

She even made fun of Muhyiddin’s call for Anwar to step down after the state elections results were announced. (Read her FB at the end of this posting)

Pakatan Harapan retained Selangor, Penang and Negri Sembilan in the state elections while Perikatan Nasional got to keep Kedah, Kelantan and Terengganu. The outcome of the elections, one analyst told Bernama, “… will help clear up uncertainties in the local political scene, and will attract more foreign investors to the Malaysian stock market.” 

Additionally, we can expect the overall outlook in the midterm to be positive buoyed by improving economic conditions, the same analyst said. 

The outlook would have been grim if Mahathir or Muhyiddin’s prophecies had come true: the KLSE index and the Ringgit would have plumetted today and FDI would just go elsewhere (and not Kelantan, Kedah or Terengganu, for sure).

Liyana Marzuki’s analysis taken from her Facebook: 

MENANG BESAR?

TSMY punya bongkak sebelum PRN ini. Katanya dia cukup yakin PN akan tawan semua 6 negeri.

Tun M jangkakan mereka akan dapat skor 5-1. Selangor dan Negeri Sembilan akan jatuh.

TGHH juga kata, kalau ini berlaku mereka akan buat gerakan menebuk atap sekali lagi. Tiada siapa termasuk pihak Istana, boleh menghalang.

Hakikatnya, mereka jauh tersasar. Mereka bukan menang besar, mereka hanya SEMBANG BESAR.

Negeri Sembilan kononnya PN boleh rampas, kecundang pula. PHBN siap dapat 2/3.

Selangor lagi kan pula, siap PN kata boleh dapat 2/3, kalah juga! Walaupun pelbagai janji ditabur dan bulan bintang hendak diberi. Orang Selangor cerdik lagi.

Saya jangkakan Kelantan akan beri telur ayam. Still UMNO menang di sana. Dan di Kedah DAP dan PKR boleh menang kerusi.

Mana cerita MENANG BESAR itu tadi?

Sebenarnya Presiden PN ni sudah terciduk. Terkantoi over confident pada mulanya.

Tu sebab jangan bongkak dan sembang deras mula2.

Sembang deras itu hanya boleh makan Taksuber.

Untuk GAP dan fence sitters, we can see through you, your true colours.

Sekarang, dia buat statement, PMX kena resign dan retire. Sebab PN sudah “menang besar”. Yang saya nampak “sembang besar” saja.

Masa PH 1.0 22 bulan dan zaman 33 bulan, setiap PRK dan PRN , PPBM kalah. Ingat PRN Johor dan Melaka? Patut masa tu TSMY pun retire! Gagal banyak benda. Kalau bukan sebab PAS, PRU15 pun terciduk juga.

Not my kinda of PM. Kalau PN nak berjaya, elok lah ditukar lain pula. Ni dah level dinosaur. Tambah Kluster Mahkamah Jana Wibawa. Sudah basi jua.

Salam hormat,

Liyana Marzuki. 

 

 

Chief Tyrant Officer rules EPF and that’s not OK, say workers

Amir Hamzah

AMIR Hamzah Azizan has helmed nearly a dozen companies, including GLC giant Tenaga Nasional, and in all those years at the top has probably never been called a “tyrant” before. 

But now the generally timid trade unions of the Employee Provident Fund, where he has been CEO since March 2021 (when Muhyiddin Yasin was PM), are calling Amir Hamzah’s management zalim, which is Malay for tyrannical, a title accorded to Firaun in biblical times and, in more recent times, to Dr Mahathir. Surely, something any CEO can do without especially if he or she harbours any ambition to climb to the highest rung of the GLC ladder. 

The trade unions are sore with Amir’s administration for allowing a pay gap cancer to permeate and give birth to a “caste system” between EPF’s top managers earning fat pay checks and ordinary workers who take home crumbs. 

Worse, the workers seem to have closed the door for discussions with the management, tired of being ignored time and again by the management, they claimed. They are now demanding that the Prime Minister steps in to help resolve the dispute.

I don’t know how big the salary disparity in the EPF is or how much Amir Hamzah takes home compared with the salary he pays, say, Ahmad Hamzah the trade union leader. I’m sure Malaysians in general are not bothered how much Amir is paid or how generous he is with his top managers or how much the Minister of Finance (who is also the PMX) allows the directors of EPF to reward themselves. But so often we see low-income workers in this country getting poorer and poorer compared with their bosses and that is something we (ie the employers) need to consciously address if we truly aspire for a more just and equitable society. 

The EPF, which was the 4th largest pensions fund in Asia in 2020 and 7th in the world before the pandemic (its income in the first quarter of 2023 was RM16 billion, 3 per cent more than the corresponding quarter of 2022), is the body entrusted to safeguard the interests of 15 million workers in the private sector who mandatorily contribute 12 per cent of their income to it. 

As I see it, the EPF can’t be doing a great job (for the millions of contributing workers) if it can’t even rein in - or please - its own 5,700 workers.  

 

The truth behind Halim Saad’s lawsuit against Dr Mahathir & his “Top Cat”

Bukit Kiara, 11 Aug: Just when I thought I had covered all the lawsuits that are keeping our lawyers and judges busy these days, here comes a big one: Halim Saad vs Nor Mohamed Yakcop aka the Top Cat and Dr Mahathir Mohamad himself! 

Halim, we all know, was once Mahathir’s the poster boy of Mahathir’s privatization policy (and, to some, Umno’s capital cronyism). So far and wide was Halim’s corporate reach back in the day he even helmed the New Straits Times Press and TV3 during Nineties when whoever controlled the media controlled the hearts and minds of the voters. His reign in that media conglomerate was brief and stormy, though, and preceded a management buy out by the Empat Budak Melayu, which was seen as a proxy war between the powerful Daim and the then Finance Minister and Umno deputy president Anwar Ibrahim. 

The SCOOP’s Aug 9 scoop puts Halim’s lawsuit in the following context:

KUALA LUMPUR – The true story behind the controversial RM2.3 billion Renong-UEM deal is expected to be unravelled in court following a suit by Tan Sri Halim Saad against former prime minister Tun Dr Mahathir Mohamad, former finance minister Tan Sri Nor Mohamed Yakcop, and the government of Malaysia.

Halim, in his suit filed today in the high court here, claimed that the then Mahathir-led government and Umno – some 26 years ago – had forced the acquisition of the company, which eventually led to its collapse.

Halim is seeking a declaration that he was the beneficial and legal owner of Renong shares and not Umno Baru; a declaration that the government compulsorily acquired his vested right to effect a general offer on UEM; and a declaration that, with respect to the said acquisition of his vested right, the government had acted through Mahathir and Nor Yakcop.

He is also seeking a declaration that, in acquiring his vested right, the government was obliged to provide him with adequate compensation.

Halim was Renong’s executive chairman. 

In a statement today, Halim said the then-government’s plan to take over UEM and eventually privatise it would not have been possible without his support, which he was obliged to provide. 

“I was instructed by (Mahathir) in his capacity as the then prime minister and (Nor Yakcop) in his capacity as the special economic adviser to (Mahathir) not to proceed with the acquisition of 32.69% of Renong from UEM pursuant to a put option exercised on me by UEM in December 2000. 

“I was also instructed by (Mahathir) and (Nor Yakcop) not to proceed to undertake a take-over of UEM, which I was about to undertake with Renong jointly. 

“Instead, I was required by (Mahathir) and (Nor Yakcop) to support the government’s initiative and or plan, through Khazanah Nasional Bhd’s wholly-owned subsidiary company Danasaham Sdn Bhd, to undertake the take-over of UEM via a general offer,” Halim said. 

He added that the collective and concerted actions of the defendants resulted in his loss of control of Renong, which also meant the indirect loss of control of UEM and its “highly valuable assets”. 

The assets he named include the North-South Expressway (PLUS) project, the Elite Expressway, the Malaysia-Singapore Second Link Expressway (LINKEDUA), Pharmaniaga Bhd, Intria Bina Sdn Bhd, Ho Hup Construction Sdn Bhd, and Kualiti Alam Sdn Bhd. 

He said he had suffered financial losses as a direct result of the defendants’ action, which constituted a breach of his constitutional rights under the federal constitution.

Halim’s suit filed today comes after he unsuccessfully sued the government, Khazanah, and Nor Yakcop in 2013 for RM1.8 billion.  

In November 1997, the nation’s biggest infrastructure firm, UEM, purchased a 33% stake in its heavily-in-debt parent, Renong, for RM2.3 billion, leading to Renong’s value plummeting as investors dumped shares in both firms.

Following public uproar over the deal, which was said to be in opposition to stock exchange reporting rules, the Securities Commission urged Halim, as the controlling shareholder of Renong, to buy back the stake from UEM, with payments to be made between February 2001 and April 2002. 

However, in July 2001, the government determined that Khazanah Nasional would take over the entire Renong group – including a RM12 billion debt – for RM4 billion. – August 9, 2023

In May, Dr Mahathir’s filed a defamation suit against Anwar Ibrahim over the PMX’s purported claim that the former Prime Minister had used his position to enrich himself and his family members.That’s the other context Halim’s lawsuit, if you like.

Halim’s court action against the former PM won’t be the last, I’m hearing. Tajudin Ramli, the founder of Celcom and former owner of Malaysia Airlines, may follow suit, pardon the pun.

Wee threat to sue MCMC

Bangsar, 1 Aug: Another potential lawsuit, which may well lead to a counter-suit, involves the beleaguered (although some prefer belligerent) Tourism Malaysia former chairman Wee Choo Keong, 70, whose blog has been taken down by the MCMC, the authority in charge of regulating and promoting the telecommunications and multimedia industry. 

In a strongly-worded letter to the MCMC Wee, a lawyer and former MP, has given the authority an ultimatum to “unblock my blog or see you in coourt”. 

Excerpts from the news  report:

"Kindly take notice that if our client's blog continues to be blocked and remains inaccessible for service of this letter, our instructions are to file proceedings against you and/or your minister and/or the government of Malaysia, without prejudice to a claim for compensation or damages.

"Our client hopes that it will not be necessary for him to resort to legal action if you act with due dispatch within the above time frame to comply with his demands."

I’ve always been amazed, when not perplexed, by Wee’s combative nature. The blocking of his blog, therefore, did not come as a surprise. I’m not privy to why exactly the MCMC has blocked his blog but fellow bloggers have suggested it may have something to do with his incessant attacks on a former Tourism Malaysia chairman and people associated with the individual. 

The MCMC is not obliged to inform anyone prior to blocking a site or a blog deemed “undesirable” or to have flouted the law. In fact they could, if they so decide, invite themselves (in the company of the police) to your home or office and confiscate your equipment which they believed have been used to post stuff considered defamatory or seditious or undesirable. You can challenge them, of course, this is a free country. I did in 2010, when they took my Ferrari but I didn’t sue them. I guess that’s because I’m a journalist.

Wee did not stop at the ultimatum. In the sane letter to the MCMC, his lawyers reportedly accuse the MCMC of acting like a “secret society” even though Malaysia is a “civil society”. I think that’s where things will go sideways and where Wee can expect to get a letter of demand from Cyberjaya soon. 

Defamation suit over Stadium project: Party Hijau’s Razak Ismail has no cause to whine, unless …

Amirudin is trying to silence (me) with the lawsuits - Razak Ismail, Green Party sec-gen 

Damansara, 30 July: I don’t quite understand why Razak Ismail, the sacked PKR leader who is now Green Party secretary general, is whining about being sued by MRCB for the things he had accused the conglomerate of. If his claims can be backed by facts, he should see it as a great opportunity to promote his integrity. The court is where Razak will prove to all and sundry that he speaks the truth and nothing but the truth, that he didn’t make up any of it. Berani kerana benar. 

So now, the whining, could  it be that Razak knows he won’t be able to back up his allegations and will lose to MRCB in court?

If that is so, you asked for it! Kerana mulut badan binasa. But even if that is the case, Razak, it is an opportunity: you can instruct your lawyers to approach MRCB, the party that is suing you to protect its own integrity, and negotiate some kind of agreement that is acceptable to both sides. Usually, that would be you making a public apology to MRCB for defaming them and you giving an undertaking not to repeat your defamatory remarks.. (You may have to pay some legal costs but usually the amount won’t be as crippling as the damages you would have to pay when you lose the case().

Either way, here’s what we all need to constantly remember: we are accountable for what we say, whether it is in the real world or in cyberspace. The law is blind in this country where even former prime ministers know they can be hauled up to court for alleged indiscretions. Even the sitting PM Anwar Ibrahim is going to court to answer allegations he made against Tun Dr Mahathir Mohamad. Heck, the mighty Royalty of this country too are no longer spared; the only difference is, perhaps,  their court is called  “special”. In short, nobody is above the law.

The social media, my friends, is not a place where you can slander, defame and get away without having to account for whatever you Facebook, tweet or tiktok. I speak from experience. I was sued by a conglomerate in 2006, a case that lasted 5 years against  plaintiffs who were powerful individuals close to the government of the day. Did I whine?

And remember this, too: Nobody can silence you with a letter of demand. Unless what you have written or said was utter rubbish in the first place. 

READ the article

Stadium Project: Okay to crtiticise, not slander, warns MB

by the SCOOP for context:

Amirudin to Razak: We have lawyers and you have your lawyer, so let’s settle it (in court) 

SHAH ALAM – The right to criticise should not be abused by issuing slanderous statements. 

Selangor caretaker Menteri Besar Datuk Seri Amirudin Shari said while criticism helps keep administrators on their toes, slander and spreading misinformation is a different story.

“If we (the state administration) don’t initiate legal action against false claims, then the public will assume that we are in the wrong (since) we are keeping quiet,” Amirudin told a town hall session organised by Sinar Harian at the Karangkraf Media Complex here last night.

“It’s fine if you want to criticise us, but don’t make false accusations.”

The Gombak MP was responding to heated inquiries from Green Party pro-tem secretary-general Abdul Razak Ismail.

Razak accused Amirudin of misusing government linked corporations (GLCs) to “silence” critics by filing suits.

Razak, who was sacked from PKR in January, pointed out he and four media sites were being sued by Menteri Besar Selangor Inc (MBI), the state government’s major investment vehicle.

The suit was initiated after Razak issued several statements questioning terms of a deal regarding the Shah Alam Stadium redevelopment project, alleging that the project was awarded without an open tender. In response, Amirudin highlighted how he has consistently maintained that the state government undertook the necessary governance procedures prior to the project’s implementation.

“This was a process that goes back to 2008. The proper process has been followed. Tenders were called and tens of companies put in their bids,” he told the audience of 500 which included viewers following the dialogue on Facebook.

“GLCs have their dignity and credibility at stake (when accused of wrongdoing).

“Your (Razak’s) claims (against MBI) were false allegations, so they have to take action to protect their interests.”

Amirudin added that Razak had defamed him before but the former decided not to pursue legal action.

“I don’t simply sue for anything that is trivial. Last time you accused me of misappropriating football club money. I thought the allegations were frivolous so I didn’t take legal action,” he said.

“But these claims (on the stadium project) are not criticism but false allegations so the GLC has to take action as they need to protect their interests.”

Amirudin said far from silencing critics, the courts are the best place to get to the truth.

“We have lawyers and you have your lawyer, so let’s go and settle it there.”

In July last year, MBI handed over a non-binding letter of intent to engineering and construction firm Malaysian Resources Corporation Bhd (MRCB) to conduct and deliver a proposal on how to redevelop the stadium.

Amirudin had previously said that the cost of repairing and renovating the current outdoor stadium, which is home to Selangor FC, as well as the indoor Malawati Stadium next door, is in the range of RM787 million.

So, the state government needed to decide if it was more prudent to build an entire new facility with supporting features such as a people’s park and areas for small businesses; or simply refurbish the current 30-year-old arena.

Amirudin had also revealed then that MRCB was invited to put in its proposal out of 15 other companies due to its strong financials and track record, having redeveloped the Bukit Jalil National Sports Complex in 2017.

 A public display to gain feedback was also held with the final decision on the scope of the project and cost yet to be decided by the state government. – July 25, 2023

Sequerah’s disclosure on his relationship with Jasmime Loo: Did the Judge leave it too late now?

When quizzed why I wasn’t blogging as often as I used to, I’d quip: “Writer’s block, lah.” To be perfectly honest, it’s just an excuse, really. I procrastinate, as people in my profession generally do. But you’d be happy to know that in between the countless of drafts I had started but couldn’t finish,, I was actually busy helping start what will be Malaysia’s most influential news portal in the near future called SCOOP. Now that The News You Can Use is up and running, I can go back to blogging, scribing, posting, writing as regularly as I used to … and as I should. A reporter, after all, is only as good as his or her last byline. No more excuses! (I’m running out of them, anyway!) 

So here’s the latest byline: 

… At this juncture, Judge Sequerah interjected and said: "since the issue has been raised, I would just disclose to parties that the same individual (Jasmine Loo) and myself were partners formerly in a legal firm many years back, maybe 10 to 15 years ago. I thought I would just disclose (this) since her name has surfaced in the trial." - 1MDB: TRIAL JUDGE REVEALS HE ONCE WORKED WITH JASMINE LOO IN THE SAME FIRM

KL, 27 July: Judge Collin Sequerah’s admission that he and Jasmine Loo, the long-missing trusted aide of the long-gone fugitive Jho Lo, were once partners in a legal firm has raised fresh questions about the soundness of the 1MDB trial and our justice system. Or our (my) own understanding of what is just.

Nonetheless, lawyers representing the former Prime Minister Najib Razak say they may get Judge Sequerh to recuse himself. Political analyst Lim Sian See demands more. Sian See sees a mistrial.

 “The judge only revealed his conflict of interest today after the 1MDB-Tanore case trial last five years. Jasmine Loo is the most important character in the 1MDB case and her name and role have been mentioned many times in this trial but the Judge has never disclosed his relationship with her. 

“The Judge should be recused and release Najib from this case now with a mistrial decision because it is not fair for Najib to go through another 5 years of trial under another judge.” - Najib patut dilepaskan susulan pengakuan Hakim Sequerah - Sian Se 

Maybe it’s not a conflict of interest. Maybe it’s ok for the Judge and the former fugitive to be partners because it took place many years ago, 10 or 15 years ago to be exact. Surely a trial Judge gets to set the rules, change the rules, use his discretion and impart his wisdom no matter how questionable they may seem? 

I hope somebody will tell us. But one thing I can tell you is, whether you agree with him or not, Judge Sequerah’s style has provided some really good headlines. I thought I would just share this 2021 article about him getting his knickers in a knot at the same 1MDB trial, except this episode also involved the YDPA, ie our King. 

ANGRY AT NAJIB’S NO-SHOW, JUDGE ORDERS HIM TO RETURN FOR TRIAL AFTER MEETING WITH AGONG

KUALA LUMPUR (Aug 19): Former prime minister Datuk Seri Najib Razak angered High Court Judge Collin Lawrence Sequerah this morning after he did not show up for the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.

Najib’s counsel Rahmat Hazlan told the judge that his client had been summoned to the palace this morning, but Justice Sequerah was not happy to hear about Najib's absence.

“He and 114 other MPs have been summoned to the Palace to confirm their support for Datuk Seri Ismail Sabri. We are not sure what time my client is scheduled to meet the King, but he is leaving PWTC at 10.30am," said the lawyer.

An infuriated Justice Sequerah then replied that Najib should have come to court to inform the judge of his need to see the Yang di-Pertuan Agong.

“He should have had the courtesy to come here first. From the news report I have read, it said the meeting with the King would be in batches.

“This case is ongoing. I will be back in 10 minutes and I want to know exactly what time he will be meeting the King. After he's done with that, he has to be back here for the trial to continue. I may not even stop at 4pm today," Sequerah told the lawyer before standing down for a short break.

As per Covid-19 standard operating procedures (SOPs), the trial is supposed to end at 4pm.

After the break, Rahmat informed the judge that Najib was currently at PWTC with other UMNO MPs and would be leaving at 10.30am to see the King.

Cutting an irate figure, Sequerah had no choice but to adjourn the trial to 2.30pm and told the lawyer that he hoped his client would show up for the trial.

"I have to carry on with the case, come what may. We have lost too much time," said Justice Sequerah.

"I understand that he has to be there when the King summons him. But he does not have to be there the whole day," the judge added.

It was reported that the King had summoned some 114 MPs to the palace this morning to interview them on their choice for the next prime minister.

The trial continues at 2.30pm.

Anwar’s de-dollarisation: Will it hurt Malaysia?

Dedollarisation is a process of substituting US dollar as the currency used for (i) trading oil and/or other commodities, (ii) buying US dollars for the forex reserves, (iii) bilateral trade agreements, and (iv) dollar-denominated assets.

Mont Kiara, April 12: The RM170 b worth of MOU Malaysia signed with China during Anwar Ibrahim’s state visit recently is “historic” not just because of the potential investment involved but also for marking the start of Anwar Ibrahim’s dedollarisation policy for Malaysia. 

The Prime Minister made his pursuit for dedollarisation quite clear when he told Parliament on April 4, a few days after his return from Beijing, that There is no need to continue depending on US dollar for investment.

The problem with many Malaysians, even the smarter ones, is that we are so obsessed with disputing our own Prime Minister’s claim that, just four months into his premiership, the country could actually attract that much investment potential. “Ah, those are just MOU” was the detractor’s favourite comeback line. (For context, read my first posting on the China visit here). 

The “bigger story”, as one analyst who resides in the US told me, is that China is pushing its own currency as Asia’s “reserves”. And that with the RM170 b trade deal with China, Anwar has started to steer Malaysia away from the US-D!

 Elsewhere, Anwar’s dedollarisation has not escaped notice. Because eslewehere in the world, dedollarisatio is taking shape. In its report Countries worldwide are dropping the US dollar: De-dollarsisation in CHina, Russia, Brazil and Asean the independent geopolitialeconomy.com noted how Malaysia is “publicly advocating dedollarisation”.

Malaysia’s Prime Minister Anwar Ibrahim met with Chinese President Xi in Beijing on March 31, where the two leaders discussed plans to weaken US dollar hegemony and even create an “Asian Monetary Fund”.

This is a frontal challenge to the US-dominated International Monetary Fund (IMF), which emerged from the 1944 Bretton Woods Conference that established the dollar as the global reserve currency.

Anwar proposed the Asian Monetary Fund at the Boao Forum in China’s Hainan province.

“There is no reason for Malaysia to continue depending on the dollar”, Anwar said, in comments reported by Bloomberg.

The media outlet added that Malaysia’s central bank is developing a payment mechanism so the Southeast Asian country can trade with China using its own currency, the ringgit.

ASEAN has also been talking about their predicament in relations to the US dollar. While Anwar was in China, the grouping’s finance ministers met in Bali and they talked about dumping the greenback. “We must remember the sanctions imposed by the US on Russia,” President Jokowi of Indonesia was quoted as saying. (Read Asean countries take steps to reduce reliance on US dollar),

However, an ASEAN consensus is not quite guarantee. As in the past (for example, when Tun Dr Mahathir Mohamad was advocating the East Asia Economic Group, later Caucus, idea), Singapore could be the dissenting voice. Understandably so, as Singapore is the only economy in the region that could be adversely affected by this policy, the analyst added.

“Singapore’s status as the financial centre of Southeast Asia has historically been closely tied to its connections with the West and their capital, technology and values. However, as China’s influence in the region grows and its currency gains prominence, Singapore could face significant challenges in maintaining its position,” he said.

But how is that good for Malaysia? 

How dedollarisation will benefit us is a national conversation that the Anwar Administration needs to initiate in haste. Right now, information is at best trickling out of the government’s communication apparatus. Wisma Putra is quiet on the matter; in the past, it would be its responsibility to take the lead. MITI has been rather shy, too, except for its Minister Tengku Zafrul Aziz’s commitment to ensure that the RM170 b MOU will be converted into contracts and jobs.

So far, Anwar is walking the talk. What is the rest of his Cabinet doing?

The media need to have a solid grasp on the matter in order to argue the idea of dedollarisation and the setting up of the Asian Monetary Fund. The financial and economic experts must help break down  the mechanics of this policy so that enterprises are aware of the opportunities that they may seize. The ordinary folk also want to know how this will improve their purchasing power and quality of life.

MOU: Their bastardisation by Malaysian cronies and what they mean in China

Wed, 5 April: Some Malaysians don’t think much of memoranda of understanding and that’s quite, er, understandable. For there was a time when corporate Malaysia would sign MOU after MOU with foreign parties without any intention of turning them into real business contracts that would bring the nation wealth and jobs. 

The 1980s and 90s were notorious for this: the PM presided over scores of MOU churned out by cronies who were just interested in making headlines in the business pages and boost their share prices. These Malaysian businessmen were the ones who had bastardized the concept and principles of MOU,

As a result, some of us pooh-poohed PM Anwar Ibrahim when he recently announced the “historic” RM170 b worth of MOU signed during his visit to China.

What many Malaysians don’t understand is that the Chinese treat their MOU seriously. An article in the Forbes (In China, treat a memorandum like a binding contract). 

In common law countries like Australia, Canada, the United Kingdom and the United States, MOUs typically mean little. Only the signed final contract really counts. This is not typically true in civil law countries like China which hold to a much stronger concept of good faith negotiation. Under that concept, it is not acceptable to simply walk away from an MOU if that would constitute “bad faith.” 

That’s right. When dealing with China, it is important foreign companies treat an MOU with a Chinese companyu just as it wold a binding contract. 

The challenge for the Government now is to cut the red-tape that would bog down efforts to realise the inflow of investments resulting from the China MOU. Former Finance Minister Johari Ghani, who is MP for Titiwangsa and lord of this country’s media industry, has proposed the setting up of a special panel to monitor the realisation of these MOU, which is not a bad idea. 

More importantly, as one Twitter buddy rightly pointed out, “Get rid of the little Napoleons first”. These little Napoleons, I take it, are those who would make it difficult for anyone to do business in this country unless they have been paid their commission. Anwar obviously understood this, which was why he had stressed the need to stop this “commission culture among civil servants” days before he announced the RM170mb MOU with China.

The commission culture is, of course, not limited to civil servants. Politicians are probably the bigger culprits.

Several top executives of public listed firms the target for Malaysia’s “corporate Mafia”

Friday 31 March: A reliable source told me the other day that the Malaysian Anti-Corruption Commission was aware of activities where outside elements, with the help of unscrupulous enforcement officers in our enforcement agencies, had been working hand in hand  to “fix” certain targets in the corporate sector. 

The rise of the Malaysian Corporate Mafia, as some blogs call it. 

The modus operandi is simple enough: 

- a whistle blower (sometimes an officer of the enforcement agency himself) would lodge a complaint against these targets, who are typically major shareholders in public listed companies

- these targets would then be hauled in for interrogation, they may be detained for a day or ten by the enforcement agency if necessary,

- they would be pressured to such an extent that they would be so happy to surrender their shares in the company (the value of which would have dropped exponentially because of the bad publicity arising from the scandal) to this Mafia, or else …

- they would be charged in court. 

Or something to that effect. 

I’m sure the MO is more complicated than how I’ve made it sound to be, or how I was made to understand. But, bottomline, this unholy alliance existed!

MACC chief commissioner Azam Baki, who made reference to this alliance a week ago, is said to be aware that officers from the anti-graft commission may be involved. 

“The boss knows, We could see some fireworks in the days to come,” the source said. 

And like Prime Minister Anwar Ibrahim, who said leaders in his own government are being investigated for corruption, the source believed Azam would have no qualms about investigating his own officers for wrongdoing.

Many suspect this unholy partnership is not confined to the ongoing scandal that has consumed Revenue Berhad, the gateway payment provider for none other than the Bank Negara. The money trail and “dead” bodies lead to several public listed companies and corporate people linked to some of our young politicians. Read the blogs.

For context, another reliable source in an enforcement agency sent me this article by the FMT for my Readers’ pleasure:

PETALING JAYA: The belief that they will escape punishment is a major reason law enforcement officers engage in corrupt practices, according to former Suhakam commissioner Jerald Joseph.

He was commenting on Malaysian Anti-Corruption Commission (MACC) deputy chief commissioner Ahmad Khusairi Yahaya’s statement that unscrupulous enforcement officers were using their position to secure bribes from foreigners and that the situation had become “increasingly chronic and worrying .. 

Read more, What Keeps Corrupt Officers Going?