malaysia
For stability’s sake, businesses may not want Najib out, says think tank head
Investors are just looking for stability, even if it means keeping Datuk Seri Najib Razak in power, says an analyst. – The Malaysian Insider file pic, March 10, 2016.Pressure may be building up against Datuk Seri Najib Razak to step down, but the business community may not be keen for a change in prime minister, head of think tank Institute for Democracy and Economic Affairs (IDEAS), Wan Saiful Wan Jan, told CNBC.
He said businesses were looking for stability and they feared that Najib's replacement could make the situation more unstable for them to operate, he told an interview with the business news channel.
"When you talk about the economy, foreign investment and even domestic investment, what businesses are looking for is stability.
"And I'm sorry to say this, they are not necessarily looking for good governance, they are looking for stability, and that's the key.
"Many people are saying that whoever takes over from Najib will turn the situation to be more unstable and maybe that is not a good thing," Wan Saiful said in a video clip accompanying CNBC's report, "Why Malaysia PM Najib may cling to power despite 1MDB scandal".
He added that while the move by former prime minister Tun Dr Mahathir Mahathir to team up with opposition leaders was "unprecedented", it would ultimately depend on Umno to pressure Najib to resign.
"If Umno does not put pressure from the inside for Najib to resign and if he himself does not want to resign, he does not have to resign.
"So whether or not the movement will have an impact is something left to be seen.
"No one significant from Umno has joined Dr Mahathir's camp yet," said Wan Saiful (pic, left).
Najib is being pressured to leave office over allegations linked to the RM2.6 billion donation in his personal bank accounts and alleged wrongdoing involving 1MDB, of which he is advisory board chairman.
Attorney-General, Tan Sri Mohamed Apandi Ali, in January said there was insufficient evidence to charge Najib, while the Umno elite and its leadership remain united behind Najib, now that critics from within the party have been set aside.
Dr Mahathir late last month said he had quit Umno in protest against Najib, while former deputy prime minister Tan Sri Muhyiddin Yassin has been suspended from his party post as deputy president. – March 10, 2016.
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