Quo vadis Malaysia? – Pascal Najadi

Published: 4 July 2015 9:17 AM

Who could have thought that the crisp news on US$700 million that went missing in Prime Minister Datuk Seri Najib Razak’s private bank accounts could present itself as a real chance for Malaysia and all Malaysians?

More precisely, according to the Sarawak Report and Wall Street Journal, US$681,999,976 (RM2.6 billion) was separately wire-transferred from the Singapore branch of the private bank owned by the Abu Dhabi fund Aabar into the prime minister’s private AmBank account in Kuala Lumpur, on March 2013, just in advance of the calling of the general election.

This is a tall order of an alleged now made public super heist well worth a few questions to be raised.

Where we leave now Justice to do a thorough diligent forensic on the US$700 million which allegedly, according to reports from the Wall Street Journal, were literally stolen from Malaysian coffers, one can or should take a broader look at the Malaysian state of affairs of today.
A chance for necessary renewal and multi-layered cleansing out of a 58 years Umno-grown corruption presents itself uniquely and perhaps most timely on July 3, 2015.

Malaysia today is no longer a champion of natural resources. Petronas is no longer a bulge bracket global oil company, it never really was.

Education standards in Malaysia are nearing those of established Third World countries and Vision 2020 is not an agenda but a pipe dream that will never come through.

Malaysia never offered equality to all of her citizens. My late father Hussain Najadi, the founder of AM Bank Group, Malaysia’s fifth largest bank, was brutally assassinated on July 29, 2013 in Kuala Lumpur in broad daylight, the investigation and police work on finding the masterminds stopped long time ago back in 2013.

We, as a family in fear of our wellbeing, left Malaysia early 2014 for good, sold all our assets and now feel safe in Switzerland and the Russian Federation. And so on and so forth.

The list of shortcomings of Malaysia or better of a failed state, an inherently corrupt Umno and unresolved assassinations in Malaysia is far too long for this short op-ed here.

We take a look in to the core and history of Malaysian politics. The dominating Umno is exclusively run by Malays and has never allowed all Malaysians, with the Chinese Malaysians and the Indian Malaysians, to part take.

Consequently, since independence, each of Malaysia’s six prime ministers have been Malay Umno members, starting with the late Tunku Abdul Rahman becoming the first chief minister of Malaya on August 1, 1955 under Queen Elizabeth II and later becoming the first prime minister on August 31, 1957, the day of independence from British rule.

Today, Najib assumes the office of the prime minister, like his good late father Tun Abdul Razak Hussein did brilliantly so as the second prime minister from 1970 to 1976.

Razak is regarded widely as been a thorough honest man, died not rich and my late father dealt with him when helping to develop post-British ruled Malaysia back then by founding the Arab-Malaysian Development Bank in 1974 – today’s fifth largest bank, AmBank Group.

Ironic, epic, is the fact that my late father founded that bank with the blessings of Tun Razak in 1974. Bank Negara then being the majority shareholder with my father bringing it in the early 1980s to the public via the Kuala Lumpur stock exchange and today, the corruption money of Najib being uncovered in the media on private accounts held by him with AmBank. Karma was at heavy duty work.

This seriously corrupt Umno system has morphed from preferring the Malay race to the most unfortunate of all capital mistakes that one can do, to playing the religious card.

To get religion out of a system of government, history has taught us plenty of examples over the past centuries, blood was the ink used to protocol barbaric events now printed with black ink in our history books.

Those religion-based government system-reset-events were cataclysm spiked epic battles and armed conflicts with human casualties accounted for in large numbers.

All Malaysians are now tested not to let this happen and the government, if serious about being a responsible government, must now use this latest headline of a massive corruption as a unique chance to readjust its course.

Political systems and institutions in history never went a step backwards, they only moved and move forward. The question is the heading, more to the left, centre or to the right.

But when the carriage is in full speed and inertia races it forward too close and 90 degrees towards a concrete wall, a crash can no longer be prevented, the crash will occur. Simple laws of physics can be translated on many occasions into systemic government risks.

Risk is omnipresent for humans. We have to understand and manage risks 24 hours 7 days a week 365 days year on year, permanently perpetually.

Risk management was never in the book of the Malay-ruled Umno-dominated landscape, corruption took care of not exposing those risks, no one cared and now this risk has bitten Malaysians with a vengeance.

Too late to avert but not too late to manage, although the time is running out faster than Malaysia will be able to cope with.

Malaysia and all Malaysian passport holders of all walks of life, all religions now have the last call, the last remaining chance to take charge, to peacefully unite and to reset Malaysia, to manage the risks that become more and more visible as a serious threat to its raison d’etre its credibility its existence.

To make the system better, to learn from all the decades of mistakes and corruption that now bring Malaysia to her knees, certified now a failed state by my personal opinion. It will take many future generations to mend, to rebuild but a start is a start even when starting from the rubbles of corruption.

The US$700 million fraud allegations, theft of Najib presented to the world via Wall Street Journal, CNBC et al based on bank accounts and documents surfaced to see the light of the day by the Sarawak Report present perhaps for the first time since 1957 a serious question that is worth more than US$700 million. Can Malaysia survive this?

The answer is, maybe just, but only if it can clean the out itself from the rot that has been fermenting since the day independence. Umno must refurbish drastically, change its charter, must allow all Malaysians to participate.

One Malaysian citizen being one vote to count, regardless of race and religion. The simple answer to this most complicated question relates to common sense.

Malaysians time to lead their nation has come and it will be at a hefty cost of the Malays, them losing their preferred status through race, handouts, pocket linings, their posh London mansions, their Ferraris, Bentleys, private jets, Hermes bags and what not. This is the cost to avert a perhaps much more serious conflict. It probably is a cost well worth every penny of it.

Quo vadis Malaysia?

History will tell and the winners will write history. Peace is the preferred winner over all other candidates. – July 4, 2015.

* Pascal Najadi is the founder president of the international private Swiss merchant banking advisory firm A.S. Najadi & Partners.

* This is the personal opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insider.

– See more at: http://www.themalaysianinsider.com/sideviews/article/quo-vadis-malaysia-pascal-najadi#sthash.WgWapVhT.dpuf

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