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Published: Tue, May 15, 2018
Global Media | By Abel Hampton

Ex-Malaysian PM Razak banned from leaving country

Ex-Malaysian PM Razak banned from leaving country

A day before officially starting work as the new Prime Minister, Tun Dr Mahathir Mohamad has announced sweeping measures to clean up corruption in the country and restore the people's trust in government.

At the weekend, Mahathir slapped Najib and his unpopular wife Rosmah Mansor with a travel ban as speculation mounted they were about to flee the country.

"There are a lot of complaints against him, all of which have to be investigated", Mahathir said at a news conference.

Malaysia's biggest funds are headed by executives mostly appointed during the almost decade-long tenure of ousted Prime Minister Najib Razak.

Also Saturday, Mahathir appointed Lim Guan Eng, an ethnic Chinese, as finance minister, the first member of an ethnic minority group to be appointed to the powerful post in 44 years.

Mr Anwar was once Mr Mahathir's deputy, but was jailed on widely criticised charges of sodomy and corruption amid bitter tensions between the two men.

He said a special team of eminent persons, called the "council of elders", has been formed to advise the government on economic and financial matters during the transitional period.

Mahathir has been prime minister of the Muslim Malay-majority nation earlier, for 22 years, governing in a tough, direct style.

Among his first steps was to place Attorney-General (AG) Apandi Ali on leave.

Royal pardon for future PM?

Malaysia's new finance minister is seen as a safe pair of hands as he takes on the huge task of bringing down debt while scrapping a consumption tax that was key to Prime Minister Mahathir Mohamad's unexpected election win last week.

He said that while Malaysia welcomed local and foreign direct investments (FDI), the FDI would be limited to bringing in capital and technology into the country and setting up of factories to produce goods for the local and export markets.

"This will have an impact on prices and they will have to correct to reflect this higher level of uncertainty.I think the markets have been wrong-footed", she said, though adding, that the economy, especially with oil prices rising, was well placed to absorb the shock.

The statement came after a flight schedule had shown that Najib and his wife were due to take a private jet to Jakarta at 10am from on Saturday morning.

Najib lost the election at least partly because of popular disgust over the 1MDB scandal. Datuk Seri Najib was implicated in the money laundering allegations at the state fund after RM2.6 billion (S$880 million) was found in his personal accounts.

Mr Najib and 1MDB deny any wrongdoing.

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