AUGUST 10 — Five years ago in May 2017, about a year before the 14th General Election, the Monetary Authority of Singapore (MAS) announced that it had completed its two-year review of banks involved in 1MDB-related transactions known to-date.
In the latest of its regulatory actions then, MAS had imposed financial penalties on Credit Suisse and United Overseas Bank (UOB), as well as issued Prohibition Orders (POs) against three individuals and served notice of its intention to impose the same regulatory action on three others.
While actions were being taken elsewhere across the globe in at least six countries yet none in Malaysia — where it all began — PAS Deputy President Tuan Ibrahim Tuan Man wondered why investigations had not commenced in the country.
“Are we not ashamed?” he said in a statement published by the party’s newsletter Harakahdaily.
Tuan Ibrahim — now a minister — therefore urged for a Royal Commission of Inquiry (RCI) to be set up. “Hopefully all parties will lobby for an RCI to be set up as soon as possible,” he said.
The RM9 billion procurement of six littoral combat ships (LCS) is now as scandalous as the 1MDB systematic embezzlement of assets diverted globally.
It is not surprising that political parties across the divide have called on the Cabinet to set up an RCI to investigate the LCS scandal.
As rightly pointed out by veteran lawmaker and Iskandar Puteri MP Lim Kit Siang, the Cabinet has 12 Umno ministers, four from Sarawak-based Parti Pesaka Bumiputera Bersatu, three from PAS, and one each from MCA, MIC, and Parti Bangsa Malaysia.
Tuan Ibrahim is one of the three from PAS. He is within earshot of the prime minister. Will he whisper, if not say, it?
Will there be an RCI?
* This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
