25 May 2016

BSI shut down, Najib's 1MDB causes pain to the international financial fraternity.

Ravi Menon, the Managing Director of Singapore Monetary Authority (MAS) is taking tough actions against BSI the Lugano based private banking in Singapore and ordered the branch to be shut down for serious breaches on money-laundering rules in its dealings with our Malaysian sovereign wealth fund, 1MDB the brainchild of our PM Najib Razak. Swiss financial regulators announced on Tuesday that they have agreed to take over the desolation of Singapore BSI Bank which has been encroaching severely on money-laundering acts. Prime Minister Najib Razak has been in the heart of the 1MDB financial scandals which was rated to be the biggest in the history of the world.

The Swiss financial regulators have approved the takeover of the merchant bank by EFG International on one condition that BSI is integrated and dissolved within twelve months from now on. The Singapore and Swiss authorities are working together and have decided to seize the 95 million Swiss francs on illegal profits and now probing on at least on 2 former top managers of the bank.

The office of Switzerland Attorney General  had early  yesterday opened the criminal proceedings against BSI based on the information revealed by the criminal proceedings on 1MDB.  Ravi Menon the MD of Singapore Monetary Authority the wrong doings of BSI in dealing with 1MDB as the worst case of control lapses and gross misconduct that we have ever seen in the history of Singapore financial sector.

BSI CEO Stelano Coduri resigned abruptly yesterday as the dealings on the troubled 1MDB reverberate throughout the banks (BSI) international operations. It’s now obvious that 1MDB has brought down the international financial sector seriously and the infections that 1MDB is contracting is too contagious to the extent that any bank or party that deals with the Malaysian State sovereign funds will eventually faces predicaments and distress.  

The question now is why Najib is keeping mum on the issue swirling 1MDB and the serious consequences faced by many individuals in the banking system internationally when dealing with 1MDB? Doesn’t one agree that Najib’s 1MDB has been seriously putting the international banking system in jeopardy? In most cases it spins around the money that was transferred in his personal account which in the end was transferred to Singapore bank.

Najib has been denying that he has done no wrongdoing while everyone that put the 1MDB deals through are now under serious investigation and many have even been fired from the banks and referred to the investigation authorities in five advanced nation. The heinous 1MDB issue has gone global and why Najib is still loitering in power without shame and embarrassment?   Najib’s 1MDB dealings have been putting the nation to shame and it’s very important that Najib quits his job immediately.

Sooner or later Najib is going to face the litigations at global courts and we cannot afford to stomach a leader who is perceived like criminal to the international community especially within the financial fraternity. Najib is seen as an orphanage leader among the leaders of the world and he still acts with his poker face to the world leaders, even though all leaders that he meets have such low impressions and regards towards him. Najib is truly the man of the world but for negative imageries and we just don’t understand how the Cabinet members can withstand with their positions in the Cabinet without qualms and guilt.

Najib is not a deserving leader for us and he should instead find ways and means to leave with some reasonable face saving devices and leave the nation to be managed by someone who is in the capacity to institute structural and institutional changes and that kind of aptitude is not in the leaders of the current line of Najib’s Cabinet lineup.

As I have said it umpteen of times changing the leadership from within the Cabinet lineup is not a change. To change it through alternating it with political parties is also not a change. The nation needs a leader who has the experience and with high magnanimity to take on the mantle. Usually with the current bad culture of the ruling and the oppositions a true leader of that attribute stays outside the Cabinet and the party lineup.

The ordinary Malaysians are just too impatient to wait for the moment of change, a real change.  

11 May 2016

Stop resting your laurels on Sarawak Elections victory, Najib should leave

It has been two months that I have not touched this writing machine for reason personal to me. There were lots of happenings politically that need to be mitigated with full accountability and assurances; some need true sacrifices by those people in power to get the nation back on proper and appropriate track of democratic nation. We are in slaking and in thirst of living in a nation that is decorously managed like we used to experience in the seventies.

We have been living in a wrongly cultured nation in almost every turf and arena and that has become the norms of the day. Corruptions have been the culture in our multiracial society and this practice seems to be accepted as part of live in the country for more than two long decades. Any attempt by like minded and leaders to address this dangerous culture will be deemed as anti-national. Saying a right thing is forbidden and those who were openly in support of the struggle for change were apprehended and not a small number have been unfairly be brought to courts of justice.

Some have been sacked and fired from their jobs and taken over by the hunger sycophants around the leadership for their personal monetary and social prominence. This situation is very normal for any distraught and distress of government and leadership. Najib has destroyed all democratic institutions and to rebuild all these institutions is needed as instantaneously as possible.  

Today will be another day that is interesting to observe. We want to see whether there will be a second default of payment of the coupon on the $ 1.7 billion bonds on 1MDB. This is a very crucial observation and if it’s going for another default any logical mind will conclude that we are on the fast track to devastation. 1MDB is the brainchild of Najib the PM, an investment arm for the Ministry of Finance that Najib leads with initial paid-up capital of RM1 million with initial amount RM42 billion loans and debts of various forms.

Now the amount has climbed up to RM52 billion with 5.99 percent coupon rate for today’s scheduled repayment. We were made to believe that the amount will be no less than $52.24 million as the bond is traded with higher yield these days. Whether IPIC will pay as agreed in the back to back agreement with 1MDB is yet to be seen today and by next week all of us will be able to know the whole story line on this issue.

Somehow by the end of the day the government is put at a great risk of bailing out the whole loan and debts in various forms that we have in hands. While Najib is resting his laurels on the Sarawak State election victory everyone knows that he was just riding on the popularity of the Chief Minister Adnan Satem. It was Adnan Satem’s marvelous presentation that it has very little contribution from Najib for the big win.

Najib must own up the fact that he has done too much debauchery compared to all mistakes and misadventures of all previous PMs lumped together. He has to quit without delay as he is able to untie all his misadventures that will ultimately bring Malaysians to disaster.

We have to be conclusive in our opinion that Najib has proven to be too undeserving to lead the nation any longer. He has momentously failed as a leader of our grand nation noticeably. He has been destroying the country to an unimaginable magnitude to an extend that his misappropriation of public funds is now under global investigations.   

27 March 2016

Najib still have the chance to do good for the country

Everyone wants life in solace especially towards the end of one’s life.  What are the essentials to have that kind of life? If one was once a leader he wants life with free from any negative outstanding and guilt to the society and the nation. A retired leader wants no part of the society and the people he used to lead to come out cursing for mistakes and gaffes he committed while in power.  

One wants to be respected and be given due regards for the services he used to contribute to the society he used to lead. This is what life we regard as ‘peace and security’. If possible we want good prayers from everyone especially our neighborhood and that will be a real life of ‘peace and security’ I just mentioned. Having achieved this life we are certain of living with full self-actualization, a life that prepares us to leave the world without having outstanding to the people and more so with our creator.

A good and spiritually insulated leader will never forget the aftermath of his tenure of leadership. He will have to resign and retires. This part of life is the actual period whether he has done respectable deeds to the nation while holding the fort of power. This is a very critical part of one’s life especially for a longtime politician. There have been cases when great leaders in the end went on hiding and on the run till the end of their lives. Marcos went on exile till his death in 1989. Iddi Amin went on exile in Saudi Arabia until the end of his life and there were scores other leaders known to the world who ended their lives in heinous.

To me we are now facing a leader who is somewhat similar to at least one of these leaders who end their life in this atrocious manner as there were repenting too a bit too late. Najib will still have the time to repent and just do one good thing that is to leave before he is listed in the list of these despised leaders of the world. The best that Najib can do now is to leave the country’s leadership to person or persons who can save the country from his plunders, pranks and shenanigans. He is not able and can never be able to do the restoration job for the country himself. We hope Najib will take lessons from the experiences by hated leaders of who end up their lives in shame and disgrace.

What Najib is in need now is to find all avenues to live in solace while he approaches the end of his live. The money and wealth he accumulates can’t give him life in comfort in retirement. How could one’s life be in the ‘peace and security’ if he is cursed by the people he used to lead unless he enjoys living in a long haul run till his death.

Najib must remember that history will write about him and historians will uncover all his blunders that he commits by himself and that will be read by our generations. We hope Najib does not waste any more time for his own good.

Conclusively Najib has failed but that does not deter him to do good for now. He should leave and just don’t commit another mistake by leaving the leadership to anyone who is within the same culture that UMNO and BN has been practicing. By leaving the leadership to anyone who can do the repair job and restoration of this damaged nation. The people will take you differently from then on.

After all Najib must realize that his own Cabinet who shout aloud in support of him are plotting to topple him quite instantaneously. Apparently the support from his own Cabinet is a faked support.

26 March 2016

Najib has to be dismounted from all his positions now

We can’t afford to allow one person to ruin the country and we can’t give in to a leader who plunders the country to an unrecognizable level like we are going through under Najib now.  We are not able to stomach the image of a PM who is looked upon like a criminal printed by international media houses as it damages the image of the nation to the world community very seriously.

We want a system where political leaders in the government just oversee the running of the country is done by the system appropriately and disallow any misappropriation by the implementers especially the civil servants who are paid handsomely to run and implement the system formulated by the politicians. It’s not ethically right to allow the political leads entrusted to oversee the running of the government themselves involved in the implementation as that is entirely wrong way of administrating the democratic system. The system should stay perpetually whichever party is mandated to rule the country even though there can be changes in policy when another party is mandated to govern.

This is the basic change that we need to see if there is another leader who takes over the current rotten government that is led by the globally badly perceived PM that we have at the moment. We used to get very near to that system of government but things changed since thirty years ago when the legislative have been encroaching the functions of the government and since then we have had not been able to correction to the spoilt and damaged system of running the government.

Consequently we are having been rotting the system where the legislative centralize the power in their hands. The chief of the Legislative, i.e. the PM has full power and all the democratic system and institutions are all totally impaired as if there is no more government that suits to the attribute of a democratic government that we falsely claim to have. It’s not wrong to say that the system that Najib runs the country is not much different than the system run by the communist.

Worse than the communist, Najib is taking charged on every movement and decision made by the government agencies and the implementer remain as the conduits of the crooked PM that we have ever had since independence. No system is running the country any longer and that contributes to far deviations of manners of ruling a government. Decisions are made on adhoc basis and we are oblivious of having a good and well implemented government.

These problems need to be mitigated as early and the only way is to oust the sitting PM and the whole Cabinet that rule the nation currently. Changing of a PM is very normal process in the democratic system of government. As I have mentioned time and again that Japan used to have her PM changed three times in one year not long ago but the government still stays. All the Japanese PMs ousted from office were all done by the fellow ruling party legislative but the system that runs the country makes the country and the government exists and remains one of the biggest economic powers of the world.

Now all the legislative members of the country are duty bound to save this country from the plundering done by the sitting PM and there is nothing wrong of doing it. Najib and the rest of the members are equal in parliament except that Najib is the first among equals. Every member of the legislative now has the moral obligations to oust Najib from his office or else they will be deemed to be acting in consort with Najib in ruining the country. Historian will read and write on them that way.

We want a true leader and not a pest to rule us. After all Najib was not elected by the people, but instead elected to the premiership by the members of the coalition of BN. Claiming that Najib was elected by the people is truly despicable and contemptible.

Najib may be in the situation of riding on the back of a tiger that makes him hard to dismount. But the grave situation that we face now warrants him to be dismounted instantaneously to save the country that we love.