Datuk Seri Najib Razak could see the end of his days as prime minister soon amid reports that money from state-owned funds were credited into his personal accounts, analysts say, adding that this issue could also severely damage his party, Umno.
They said the expose by the Wall Street Journal (WSJ) and Sarawak Report would lead to losses for the Malay-based party in the next general election.
In fact, the report was so damaging that Umno and Barisan Nasional can only win the next elections only if they teamed up with PAS, said Professor James Chin, director of Asia Institute in University of Tasmania.
“Because, if this was true, even the Malays will lose trust in Umno. The amount is too big, billions. Stealing a million here and there, there will still be a chance to get away but not billions.
“Umno will be really damaged and can only hold on to power in the next GE if it gets support from PAS, should the report be true,” he told The Malaysian Insider.
Chin was referring to the rumoured unity government between Umno and PAS following the death of seven-year-old Pakatan Rakyat after the Islamist party severed ties with DAP.
Merdeka Center director Ibrahim Suffian said the ruling party’s popularity had already suffered since the introduction of the goods and services tax.
“This just means the process of recovery is going to be a long and arduous one,” he added.
Ibrahim was also in the opinion that even if the allegations were proven to be untrue, the damage was already done.
“It’s quite bad even if it’s not true. It does cast him and the government in a very negative light.
“For one thing, Najib’s opponents are not taking half-measures but they are going for the kill. This also will make it difficult for some kind of negotiated resolution to his problems,” he added.
WSJ and Sarawak Report claimed yesterday investigations into the debt-ridden 1Malaysia Development Berhad (1MDB) had allegedly uncovered billions of ringgit pumped into Najib’s personal accounts.
Both quoted from documents from the 1MDB probe carried out by the Malaysian government, with Sarawak Report claiming that the Attorney-General was also aware of the information.
WSJ said the documents showed that US$700 million (RM2.67 billion) had been moved among government agencies, banks and entities linked to 1MDB before finally ending up in the prime minister’s personal accounts in five separate deposits.
“If this is true, it will be the end of Najib. He will not only be forced to resign but will be charged as well as the amount is too big,” said Chin.
He said Najib was in trouble even if he could prove that the money was used for the people during the 13th GE as it had been deposited into his personal account.
“He has to show conclusively that the money was not his. There was already talk that the money was used for GE13 so it’s not personal money.
“But this will not wash with the rakyat or even Umno warlords. As long as they can prove the money was credited into his personal account, his political career is finished.”
1MDB is currently the subject of inquiries by a number of authorities, including the auditor-general, Bank Negara, the police and the bipartisan Public Accounts Committee.
Najib, who is also finance minister and chairs 1MDB’s advisory board, has come under severe criticism in recent months over a number of issues, including 1MDB which has amassed RM42 billion in debts after just six years of operation. – July 4, 2015.
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