14 Jul '15, 11pm

Overcoming the legacy of patronage politics - by Bloomberg editors

By Bloomberg editors 10th July 2015 Malaysian Prime Minister Najib Abdul Razak may very well be, as he insists, innocent of charges that nearly US$700 million (RM2.65 billion) in government-linked funds ended up in his personal accounts. But his handling of the scandal thus far has only underscored weaknesses in the Malaysian political system. The accusations against Najib revolve around the finances of 1MDB – a debt-ridden state investment company whose advisory board he chairs. In early July, the Wall Street Journal reported that hundreds of millions of dollars may have moved through agencies linked to 1MDB and landed in accounts controlled by the prime minister. Najib has alleged a political conspiracy to undermine him and vowed not to resign. He’s threatened to sue the Journal, while Malaysian police have launched a probe into how reporters obtained the evidence for it...

Full article: http://blog.limkitsiang.com/2015/07/15/overcoming-the-leg...

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