Typical vengeful, egocentric BN-Umno (Update 1)

Typical vengeful, egocentric BN-Umno

By Chua Jui Meng

THE anticipated disciplinary action against a Bank Islam (BIMB) chief economist for predicting that Pakatan Rakyat (PR) is likely to notch a slim win in the coming 13^th General Election exposes the Umno-led Barisan Nasional (BN)’s intolerance to the honest views and performance of professionals.

It is to PR’s advantage that BN-Umno continues with its 55 years of arrogance and intolerance to any view that is not pleasing to their ear.

It shows BN-Umno is living in a world of its own, unable to change and adapt to a new era that is greatly influenced by the digital world or Information Communications Technology (ICT).

My advice to all civil servants, those who serve in government-linked companies (GCs) and other corporate organisations controlled by Umno, is to safeguard their job and themselves by giving their masters only what they want to hear. The erroneous feedback that pleases them will ensure their downfall.

By not wanting to face reality and to reform, BN-Umno is actually alienating itself politically in the 21^st century society, thereby becoming irrelevant.

BIMB’s Azrul Azwar Ahmad Tajuddin told a Regional Outlook Forum in Singapore that BN may win only between 97 and 107 seats in the coming polls, not enough to form the next government.

His views were reported by the Straits Times on Jan 11, 2013, and BIMB managing director Zukri Samat immediately wrote a disclaimer to the daily, saying it had nothing to do with Azrul’s views.

Zukri said the views expressed by Azrul were entirely his personal view and should not be linked or attributed to BIMB whatsoever.

Deputy Finance Minister Awang Adek Hussin also criticised Azrul for his views, saying he should not be talking about politics “in view of his influential position in a bank that is based on the Islamic concept in Malaysia”.
Awang also added that he would let BIMB decide on the “type of action” against Azrul.

Joining in the fray to chastise Azrul is Sabah BN secretary and Umno MP Abdul Rahman Dahlan who dismissed Azrul’s prediction as “ridiculous” speculation that was merely made to create false hopes for the federal opposition pact.

Clearly, Malaysians now have a government that has zero tolerance for differing views.

BN-Umno is therefore the stumbling block to the socio-economic progress of Malaysia.

It is the main reason why other countries in this region have either caught up with or overtaken Malaysia economically by leaps and bounds in the last three decades.

To BN-Umno, these are the “poverty-stricken” Malaysians who need help and all the mega projects.

BN-Umno’s continuous exploitation of sensitive racial and religious sentiments to divide Malaysians to remain in power is frightening away potential investors, both domestic and foreign.

Mega corruption has saddled this natural resource-rich, including oil and gas, country with a federal debt of

The official federal debt figure, as revealed by Budget 2013, is RM620 billion (inclusive of off Budget liabilities or sovereign guarantees for private corporations like the Port Klang Free Zone and government-linked company loans ending 2011) or 74% of Gross Domestic Product (GDP). The legislated federal debt ceiling is 55% of GDP.

However, the unofficial figure “leaked out” by Deputy International Trade and Industry Minister Mukhriz Mahathir and reported by TheEdge is RM800 billion.

With such a massive debt, it no wonder that Malaysians are grappling with rising costs of living, just like what the Europeans in Greece and other European countries are facing.

After continually giving their mandate to the BN (previously Alliance Party) to govern since Merdeka (Independence), Malaysians should be in a strong position to make an informed and crucial decision in the next national polls.

Here’s more on the controversy that is getting BN-Umno all worked up:

Update 1 - Jan 15, 2013

15 January 2013

KPRU Press Release: Suspension of Azrul Azwar

Think Tank Political Studies for Change (KPRU) opines that the suspension of Bank Islam’s chief economist Azrul Azwar Ahmad Tajudin has shown that Bank Islam merely places importance on its political interest rather than protecting the right to freedom of speech of its employees.

Therefore, KPRU urges Bank Islam to review its decision to suspend Azrul Azwar and to restore his position and duties.

Bank Islam’s loss, other banks benefitted

Azrul Azwar has experiences for more than ten years in the field of economics. He has served as an analyst at Meridian Asset Management Sdn Bhd, RHB Bank, Malaysia Industrial Development Finance Bhd (MIDF) dan Islamic Financial Services Board (IFSB).[1]

By predicting the outcome of the next general election in favour of Pakatan Rakyat, he has been suspended from his job and facing risk of losing his position as the chief economist at Bank Islam.

KPRU suggests that an indivudual just like Azrul Azwar, the Bank Islam’s chief economist, who is highly experienced in the field of economics, to be regarded as a company asset rather than political enemy. Given that Bank Islam has moved away from the opinion expressed by the Bank Islam’s chief economist Azrul Azwar and thus the suspension of Azrul is indeed an extreme action and does not reflect the professionalism of Bank Islam in dealing with diverse political opinions.

Losing chief economist Azrul Azwar will potentially affect the reputation and credibility of Bank Islam as one of the national financial institution as it might be seemed as a political game manipulated by Bank Islam. Thus, losing Azrul Azwar as the chief economist is a great loss for Bank Islam; whilst on the other hand, it might be a gain for other banks as they will probably hire him.

As citizens of Malaysia, Azrul Azwar is granted with right to freedom of speech to voice his opinions. As a financial institution in this country, Bank Islam should be fair to its employees, particularly in terms of handling different political opinions. While Bank Islam failed to be fair and remained neutral, it might only bring harms to itself and appeared as a political tool controlled and manipulated by the ruling party of Barisan Nasional.

Action against Bank Islam chief economist on the cards?

Harakahdaily,

14 January 2013

Jan 14: A prediction about the outcome of the next general election has landed Bank Islam Malaysia's chief economist in trouble with the authorities, with a possible disciplinary action on the cards.

On January 11, Singapore's Straits Times reportedly quoted Bank Islam's Azrul Azwar Ahmad Tajuddin (pic) as telling a forum in the city-state that Barisan Nasional may win only between 97 and 107 seats in the coming polls, not enough to form the next government.

Presenting his views at the Regional Outlook Forum, Azrul warned that Pakatan Rakyat's slim win could spell some "instability", and even said there was a possibility of “economic sabotage” by businesses aligned with BN.

BIMB managing director Zukri Samat immediately wrote a disclaimer to the daily, saying it had nothing to do with Azrul's views.

"The views expressed by Mr Azrul are entirely his personal view and should not be linked or attributed to Bank Islam whatsoever," he added.

According to news portal The Malaysian Insider, the BIMB’s management would meet over Azrul's statement.

Deputy Finance minister Awang Adek Hussin meanwhile criticised Azrul for his views, saying he should not be talking about politics "in view of his influential position in a bank that is based on the Islamic concept in Malaysia".

Awang also added that he would let BIMB decide on the "type of action" against Azrul.

"True, Azrul Azwar expressed his personal view, but does that show his professionalism?" asked Awang as quoted by UMNO mouthpiece Utusan Malaysia. The right-wing paper has however claimed that Azrul had predicted a "narrow win" for BN. - Harakahdaily

Bank Islam distances from its economist’s polls forecast

January 11, 2013

KUALA LUMPUR, Jan 11 – Bank Islam Malaysia has distanced itself from its chief economist’s prediction in a Singapore forum that Pakatan Rakyat (PR) can notch a slim win in Election 2013, saying today it “is not a party to the regional forum”.

In a statement today, Bank Islam managing director Datuk Seri Zukri Samat regretted a SingaporeStraits Times report on the forum had associated the bank with views of its chief economist Azrul Azwar Ahmad Tajudin’s calculations.

“We regret that your report has associated Bank Islam with his view, and forecast and we seek your cooperation to immediately rectify the erroneous report.

“For you information, Bank Islam is not a party to the regional forum and is not related or involved in anyway in the event,” Zukri said in a statement sent to the Straits Times and The Malaysian Insider.

The Malaysian Insider had reported that Azrul Azwar’s calculations had ruffled feathers in Putrajaya, where the ruling Barisan Nasional (BN) government has to call elections this year.

“The views expressed by Azrul at the forum are entirely his personal view and should not be linked or attributed to Bank Islam whatsoever,” Zukri added in the four paragraph statement.

The Malaysian Insider had also reported that the bank’s management are meeting today over the findings that were part of the banker’s presentation at the Regional Outlook Forum in Singapore yesterday.

Bank Islam’s main shareholder is the Muslim pilgrims fund board Lembaga Tabung Haji, which is managed by the government.

Umno MP Datuk Abdul Rahman Dahlan had dismissed Azrul Azwar’s prediction, calling it “ridiculous” speculation that was merely made to create false hopes for the federal opposition pact.

The Sabah BN secretary added that the banker’s reading was likely biased as the latter is known to be a member of PKR’s Putrajaya division.

“I admire his enthusiasm but I think he should plant his feet firmly on the ground,” Abdul Rahman said.

In a report by theStraits Times today, Azrul’s computations found that BN was likely to win only between 97 and 107 of the 222 parliamentary seats — insufficient to reform the next administration.

But the result would also mean that PR will only gain a shaky hold over Parliament and far from the supermajority once enjoyed by its rival.

Abdul Rahman noted, however, that the report had not cited Azrul Anwar’s reasons and methodology for arriving at such a prediction.

“I don’t know where he got his figures from,” he said.

He also pointed to BN’s winning streak in the last eight by-elections and insisted that this was likely to continue on to the 13th general election.

“So we are comfortable with our own readings... we believe we will retain power over the federal government, and not only that, we will increase our majority,” said the outspoken lawmaker.

In his prediction, Azrul had also forecast that fallout would result from the PR win, with the stock market set to respond in “knee-jerk” fashion as well as an extended period of perceived instability.

He also did not rule out the possibility of “economic sabotage” by businesses and the civil service that are aligned with BN. – Straits Times