When Najib Razak was removed from power by Mahathir Mohamad using Anwar Ibrahim's Pakatan Harapan, Mahathir promised to put a halt to decades of crony capitalism which culminated in the scandal of 1Malaysia Development Berhad. Najib misappropriated US$4.5 Billion through 1MDB fund. During the election period Mahathir promised to establish proper governance of Malaysia's many government-linked companies, or GLCs to create absolute transparency.
However after coming to power, instead of correcting the system, Mahathir reneged his promise and made sovereign wealth fund Khazanah Nasional Berhad and state fund Permodalan Nasional Berhad to report to him rather than, to the Ministry of Finance under Lim Guan Eng. Promises to stop political appointments to the boards of GLCs were forgotten. Mahathir appointed himself as chairman of Khazanah and appointed his party members to the boards of statutory bodies.
The finance ministry's traditional influence over the corporate sector has been diminished in favor of Mahathir and his political allies, thereby consolidating his power of the tenuous Pakatan coalition. Do you think such a man will empower you? After the treachery by Muhyiddin Yassin and Azmin Ali that Mahathir allowed to happen, do you want to make him your PM again? Ask yourself before it is too late and act wisely…
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