A screenshot of CIMB Group chairman Datuk Seri Nazir Razak's Instagram post, showing an old photo of him (centre) and his CIMB colleagues in London in 1992. – Nazir Razak Instagram pic, November 4, 2015.Promoting Malaysia on the world stage has never been tougher, and this is because of the controversies surrounding 1Malaysia Development Berhad (1MDB), and other issues, Datuk Seri Nazir Razak said today.
On his Instagram profile, the CIMB Group chairman posted a picture from 1992, showing him with his colleagues in London, where he attended his first investor roadshow.
"I have been promoting Malaysia for a long time & it has never been tougher than now due to 1MDB and related issues," he said, adding that he would be sharing the stage with Professor Danny Quah at the annual CIMB London Investor Conference in London on Monday.
Nazir, who is the youngest brother of embattled Prime Minister Datuk Seri Najib Razak, has spoken up several times before against state-owned 1MDB, which has racked up a RM42 billion debt in just six years since its inception.
1MDB is Najib's brainchild and the prime minister is the chairman of its advisory board.
Najib is also under scrutiny over a RM2.6 billion "political donation", allegedly from a Middle Eastern donor, that was deposited into his personal bank accounts in early 2013.
Critics, including former prime minister Tun Dr Mahathir Mohamad have called for his resignation while the opposition recently tabled a motion of no confidence against the prime minister in the Dewan Rakyat.
Last Saturday, Nazir told Reuters that political uncertainty facing the government led by his brother is the biggest concern for foreign investors looking at the once-stable Southeast Asian country.
He said the "central issue for Malaysia" was restoring its reputation for political stability.
"The sooner we deal with the 1MDB overhang, the better," he was quoted as saying.
Although he has never made any mention of Najib, Nazir had repeatedly called for a more transparent and speedy investigation into the controversial investment vehicle.
He has also spoken about the plunging value of the ringgit and the economic slowdown that has hit Malaysia, urging the government to explain the issues. – November 4, 2015.
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