THE government held a Royal Commission of Inquiry into Bank Negara Malaysia’s forex losses in the 1990s because of calls for it from politicians like Lim Kit Siang, said Prime Minister Najib Razak.

He said the government answered the call because it did not want to allow past mistakes to go unaddressed.

Najib, who the Wall Street Journal alleged had received RM2.6 billion from state investment arm 1Malaysia Development Bhd, said 2017 was a milestone year, wherein the government had “redoubled its efforts to ensure good governance”.

Najib had said that the money in his personal account was a donation from Saudi Arabian royalty and had denied any wrongdoing.

“Some politicians, such as Lim Kit Siang, had long called for a Royal Commission of Inquiry into the forex losses between 1992 and 1994. Last year, we answered that call by forming an eminent panel to investigate,” Najib said today in his New Year’s message on his website. 

Najib, who has ignored calls for 1MDB to be investigated by an RCI following the government’s classification of Malaysian Anti-Corruption Commission, police, Bank Negara Malaysia and Public Accounts Committee reports on the scandal under the Official Secrets Act, said Malaysians had the right to know what had happened during his political rival Dr Mahathir Mohamad’s administration.

“They (RCI) concluded that Bank Negara incurred losses of RM31.5 billion during that time, which they said had ‘a significant negative impact on the economy of the country, whereby it deprived the country of development opportunities’.”

“The Malaysian people had a right to know what had happened in the past, just as it is right that a newly reinvigorated MACC has shown wrongdoers that they will be rooted out, and just as it was right for me to announce last July that the government is cracking down on the crony capitalism culture created by a former leader. 

“The Malaysian people have paid a heavy price so that a few friends of this former leader could make enormous profits, no matter what the cost to the people,” said Najib, who headed 1MDB.

The prime minister, whose administration also saw the listing of Felda Global Ventures Bhd, said lapses of governance in the private and public sector could not be tolerated.

“They must be investigated and rectified – not just because this is necessary for Malaysia to continue on its path to high-income status, but because the people deserve nothing less.

“The Malaysian people also deserve more from their politicians. There is an honourable role for opposition parties to scrutinise legislation and hold governments to account. Driven by principles and ethical behaviour, they can and should play a responsible part in nation-building,” said Najib, who has yet to account for the losses suffered by 1MDB.

Najib said it was neither honourable nor responsible for the opposition to attempt to sabotage the economy by making wild and false claims that could undermine the people’s welfare and livelihoods. 

“Lying about your country for personal political gain is morally wrong – such people are betraying Malaysia.”

Pointing a finger at the opposition, which is now being led by Dr Mahathir, Najib said it was unacceptable “for a former leader to attempt to overthrow a democratically elected government in the hope that his ambitions for his son may be realised”. 

“In a democracy, all that should matter are the wishes of the people as expressed at the ballot box, not the selfish dynastic desires of one man.

“Nor is it responsible for politicians to oppose for the sake of opposing – even when they secretly agree that the measures being put forward by the government are right. We have seen too much of this, whether it be over GST (goods and services tax) – which almost every reputable economist around the world has praised, and which is a reform that most other countries including India and Saudi Arabia are also implementing – or over 1Malaysia. 

“Opposition figures concede privately that they are in favour of this concept to promote national unity – as all patriotic Malaysians should be – but they have opposed it for deceitful, personal political ends. This is shameful,” said Najib, who has had not given any interviews to non-government related media since 2013. 

Praising PAS

The prime minister also said PAS president Abdul Hadi Awang was more decent than other opposition leaders. 

“A better way has also been shown by PAS under the leadership of Hadi. We are in different parties, but we surmount those divisions when it comes to matters of common interest, such as supporting the causes of the Rohingya and the Palestinians. 

“This is a more mature politics, which helps build our country, not attempt to burn it down; it helps unite us, not divide us; and it concentrates on what we have in common, rather than make a weakness of our diversity – which, as far as the government is concerned, is our strength, and we will never cease to defend it.”

Najib said Malaysians will have to make their choice next year in the 14th general election.

“(Choose) a government that has continued to work for their betterment, with a clear direction and policies to move Malaysia forward in the short, medium and long term – or parties that can only campaign negatively, hoping to cause public anger and unhappiness to win votes, because they have nothing to offer Malaysians but division and populist illusions that would damage the country. 

“Electing a government is a serious business, and we are confident in the wisdom of the people. We are confident that they will see through the false promises of certain parties, knowing who is working for the true interests of all Malaysians, and recognising who has the proven track record that has delivered and is continuing to deliver,” said Najib.

The New Year’s Day message also highlighted Malaysia’s achievements in 2017, such as the stronger gross domestic product (GDP), Malaysia’s record medal haul at the Kuala Lumpur SEA Games and various new investments in the country. – December 31, 2017.