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Tuan Ibrahim: DPM sacking not helping ringgit
Published:  Aug 7, 2015 11:48 AM
Updated: 4:59 AM

The sacking of former deputy prime minister Muhyiddin Yassin has not brought any good news, with the ringgit still having fallen another 2.5 percent, said a PAS leader.

“If the ringgit’s value is a yardstick (of the government’s performance), then the sacking of Muhyiddin has really not boosted anyone’s confidence.

The ringgit’s value has fallen 2.5 percent, from RM3.814 (to the US dollar) on July 28 to RM3.913 on the day Muhyiddin was sacked on Aug 6,” said PAS deputy president Tuan Ibrahim Tuan Man.

“For certain, the only good news is for the prime minister himself.

“It feels as though he is the only one who is able to continue his work as though nothing has happened.

“(And) he has not sued Wall Street Journal (WSJ),” quipped Tuan Ibrahim in a statement today.

He was referring to Najib’s earlier threat to sue WSJ over allegations that funds from 1MDB had been transferred to his personal accounts.

Today Bernama reported the ringgit breached the 3.90 per dollar for the first time since the Asian financial crisis 17 years ago.

Critics including the PM’s brother and CIMB boss Nazir Razak has blamed the 1MDB scandal as one of the contributing factors to the ringgit’s continued decline.

1MDB probe 'crippled'

Tuan Ibrahim lamented the loss of momentum in the 1MDB probe following the replacement of Muhyiddin as Najib’s deputy.


The attorney-general was also sacked, the audit report into 1MDB “kept secret” from the public until “who knows when”, and the Public Accounts Committee (PAC) has been “crippled”.


“And so, the probe against the big bosses of 1MDB cannot be carried out,” he said.


“The report from the special task force has also suddenly vanished from sight,” he added.


In addition, he rued, those involved in investigating the scandal are being detained.


“Bank Negara has also lost its voice. And we are not sure what’s happened to Bank Negara governor Zeti Akhtar Aziz ?


“The people are sure to suffer as the value of their assets continue to diminish because the ringgit is shrinking.


“So what’s happening to Malaysia? Is there still a Vision 2020?” he asked sarcastically of the ruling party’s plan to achieve a developed nation status in five years’ time.

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