There’s nothing much to elaborate here. The title of this article is self-explanatory. The Wall Street Journal’s latest bombshell is to tell all and sundry two things. First, someone from the Bank Negara Malaysia (Malaysia Central Bank) is super pissed that a “wolf” is about to be appointed as the most powerful person in the country’s financial institution.
Second, if this news is proven true next week, it simply means that whatever the Wall Street Journal has been exposing about Prime Minister Najib’s involvement in the 1MDB scandal is the truth, the whole truth and nothing but the truth. So, will Najib Razak deliberately appoint someone else just to prove the WSJ lies (*grin*)?
It’s safe to bet that outgoing Bank Negara Governor Zeti Akhtar Aziz, out of frustration, might be the person who leaked the information to the WSJ. And she’s mad because to appoint Mr. Irwan Serigar Abdullah is like puttinga wolf in charge of the hen house. The jokes – “Serigar” really sound like “Serigala (wolf in Malay language)” hence there could be more scandals.
But what’s so bad about sending Mr. Irwan Serigar, presently the secretary-general of Ministry of Finance, to the hen house? That’s because this guy is one of Najib Razak’s greatest followers. Regardless whether it’s GST, 1MDB scandal, Ringgit depreciation or bailing out of 1MDB using Tabung Haji’s fund,his fingerprints are all over the place.
Irwan Serigar sits on the board of 1MDB as an advisor. That alone is sufficient to tell you why Zeti is freaking disappointed. If you still couldn’t see why his appointment is such a big deal, consider this. Apparently, he also sits on the board of directors of at least 25 other companies (as end of 2014). That surely screams “conflict of interest”, do they not?
His interest includes Malaysian Airline System Berhad, Cyberview Sdn Bhd, Padiberas Nasional Bhd, Islamic Development Bank, Malaysia Deposit Insurance Corporation (PIDM), AmanahRaya Real Estate Investment Trust, Felda Global Venture Holdings Berhad (FGV), Petronas, FELDA, MRT Corp, Khazanah and Razak School of Government, among others.
He is also the Chairman of Lembaga Hasil Dalam Negeri (LHDN) or Inland Revenue Board (IRD). This might explain why Najib Razak was laughing his head off when former premier Mahathir repeatedly asked why the income tax department hadn’t take any action against the prime minister’s RM2.6 billion in donation. Now, we know it’s non-taxable after all (*grin*).