Former CIMB chief executive and chairman Nazir Razak hopes his brother, Malaysia’s former premier Najib Razak, can prove his innocence in the 1MDB scandal, a theft of billions of taxpayer dollars which the banker says was due to abuses of the system left behind by their father Razak Hussein who led the country in the 1970s.
In his autobiography released yesterday, Datuk Seri Nazir echoes critics who say the system of proBumiputera quotas in awarding contracts, licenses and senior positions is now riddled by corruption.
The over-centralization of power has allowed those in key positions to influence, and even dictate how government funds are channeled to allies in both business and politics, he said.
Mr. Nazir writes that 1Malaysia Development Berhad – the state-owned firm which prosecutors say had US$4.5 billion (S$6.07 billion) siphoned from it – was “the clearest evidence yet that the system of politics, government and business, which could trace its roots back to my father, was now deeply flawed”.
“As his brother, I pray that Najib is able to clear his name,” said Mr Nazir, who is now chairman of Bank Pembangunan.
Najib, the eldest of Tun Razak’s children, is appealing against a conviction and facing dozens of further charges in relation to 1MDB.
هذه القصة مأخوذة من طبعة November 09, 2021 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 09, 2021 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
‘Go on dates, parents’ student care centre takes care of kids till late
A student care centre is encouraging the parents of the children in its care to go on date nights.
Ong sets three freediving national marks in Camotes
It was the hunt for a sea turtle that took Patricia Ong into the world of freediving.
WE'VE DONE IT BEFORE: FODEN
Midfielder, who broke 50-goal barrier, says City's past will help nerves in '6 more finals'
Liverpool's title hopes suffer Hammer blow with draw
Liverpool manager Jurgen Klopp could not hide his disappointment as his side's slim English Premier League title hopes faded further on April 27, when Michail Antonio's late header earned West Ham United a deserved point with a 2-2 home draw.
HALIBURTON FLOATER SINKS BUCKS IN OT
Point guard overcomes poor shooting to hit winner in the Pacers' 121-118 Game 3 victory
Nadal eyes dream doubles pairing with Alcaraz
Rafael Nadal said it would be exciting to partner fellow Spaniard Carlos Alcaraz at the Paris Olympics and the 22-time Grand Slam champion hoped they can enter some doubles tournaments in the build-up to the Games.
Buddies Mcllroy and Lowry still among the leaders
Rory McIlroy and Shane Lowry are good friends, former Ryder Cup teammates and they have also enjoyed a dinner together with more to come according to the PGA Tour - since they touched down earlier this week for the Zurich Classic of New Orleans team event.
BATTLE OF LIM'S BIGHORN A CLASSIC
Team Meagher-Lerner-Lim show their Midas touch again in the 1400m leg of 3YO features
Why the markets have turned rocky now
Behind the turmoil are familiar culprits: inflation and interest rates, amid geopolitical tensions
The reality of being targeted by scammers daily
You open your eyes and grope for your phone. You check your inbox and discover dozens of spam email that made it past the filter.