Malaysian election

Blame all around as Najib arrested, charged

SINGAPORE (July 9): Some of my so-called friends have been giving me a hard time over the last couple of months for not voting at Malaysia’s general election on May 9. The way they see it, by doing nothing to help boot out Barisan Nasional (BN) and elect Pakatan Harapan (PH), I have let down my more civic-minded countrymen who helped create a new and better Malaysia.

Malaysia boleh if brain drain can be reversed, says Schroders

SINGAPORE (June 27): History was made in Malaysia on May 9 when the opposition caolition, Pakatan Harapan (PH), won the 14th general election for the very first time, ending the six-decade rule of Barisan Nasional (BN).

Tun Dr Mahathir, Malaysia’s prime minister from 1981 to 2003 with BN, represented PH in this election and is now serving his second term as prime minister once again. He is also the world’s oldest elected leader.

Insolvent 1MDB unable to repay debt as director warns of scam

(May 24): Troubles at Malaysia’s state investment company 1MDB deepened as its officials told the government the fund is insolvent and unable to repay debts that could amount to almost US$7 billion ($9.40 billion) over the next five years.

Guan Eng slams Arul Kanda for being 'dishonest and untrustworthy'

KUALA LUMPUR (May 24): Finance Minister Lim Guan Eng has slammed scandal-ridden 1Malaysia Development Bhd’s (1MDB) president and chief executive officer Arul Kanda Kandasamy for being “utterly dishonest and untrustworthy”, and instructed the ministry’s legal advisers to review his position in 1MDB.

The strong statement came after Guan Eng had a meeting with Arul Kanda yesterday, together with former 1MDB chief financial officer (CFO) Azmi Tahir and former general counsel Ivan Chen.

Malaysia to dismiss thousands of state workers to cut spending

(May 23): Thousands of government workers in Malaysia will lose their jobs and state agencies will be dissolved as Prime Minister Mahathir Mohamad moves to curb spending and debt.

The government will dismiss 17,000 contractual employees and reduce ministers’ salaries by 10%, Mahathir said in a press briefing after his first cabinet meeting in Putrajaya on Wednesday. Contracts, including those for the search of aircraft MH370 and for the Singapore-Kuala Lumpur rail, will be reviewed, he said without giving a timeline.

Robert Kuok to return

KUALA LUMPUR (May 21): Tycoon Robert Kuok will return to Malaysia this week to attend a government advisory council meeting, several media reported yesterday.

In an exclusive interview with Nanyang Siang Pau, Team of Eminent Persons head Tun Daim Zainuddin confirmed that Kuok will return to Malaysia this week to attend a government advisory council meeting.

Daim said he had spoken to Hong Kong-based Kuok over the telephone.

Justo meets Dr Mahathir

PETALING JAYA (May 21): Former PetroSaudi International executive Xavier Andre Justo, who released hundreds of thousands of emails which led to worldwide investigations involving 1MDB and its business partners, yesterday met Prime Minister Tun Dr Mahathir Mohamad in Kuala Lumpur.

The Swiss national posted a photo of himself with Dr Mahathir on Facebook with the caption “What a great privilege and what an incredible moment”.

Will review of mega projects harm or help Singapore?

SINGAPORE (May 21): Malaysia’s new government has pledged to review all the mega projects that the previous government undertook. Cancellations or delays could affect both the Singapore economy and local companies.  

Meet Malaysia's finance minister-designate

SINGAPORE (May 21): Steven Sim, a member of Malaysia’s Democratic Action Party (DAP), recalls a meeting he organised some time ago in the Malaysian state of Penang for Lim Guan Eng and a group of Singaporean businessmen. “By the end of the chat, the Singaporeans said [Lim] reminded them of Lee Kuan Yew,” Sim tells The Edge Singapore. Lim, 58, is the leader of DAP and served as Chief Minister of Penang from 2008 to 2018, during which time the state’s economy grew steadily while the state government’s financial position improved significantly.

Auditor-General's 1MDB report made public

SINGAPORE (May 21): On May 15, Malaysia’s national audit department announced that a formerly classified report on 1Malaysia Development Bhd had been reclassified as an open document. The audit department commenced its audit of 1MDB on March 10, 2015 using available financial statements from FY2010 ended March 31 to FY2014. The audit department says it was unable to obtain management accounts for FY2015, as well as bank statements from foreign financial institutions.  

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