Credit Suisse Malaysia’s Managing Director and Head of Equities Stephen Hagger said that Malaysia will suffer if corrupt political leaders and figures continue to walk free from corruption charges.
Commenting on Malaysia’s recent dowgrade by Fitch Ratings from A minus to BBB plus, the head of the multinational banck said that the downgrade was an example of what could happen if the current situation continues to unfold.
“The country will pay the price for this.”
He added that the recent discharge not ammounting to an acquittal of former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor in his RM1 million corryptuon trial should not have happened.
“The case appeared clear cut, with the property developer who allegedly bribed the former minister pleading guilty and is fined by the courts.”
Hagger also cited two similar cases where Datuk Seri Najib Tun Razak’s stepson Riza Shahriz Abdul Aziz was released on 14th May from five counts of money laundering and UMNO’s Tan Sri Musa Aman’s full acquittal of nearly four dozen charges of corruption and money laundering on 9th June.
“It is impossible to prove that a phone call has been made, but it is no secret that any fragile coalition government will have to keep doing backroom deals to stay in power.”
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