A little bird (a couple actually) has told me that an order had been given at Khazanah (Malaysia’s sovereign investment fund) to sell off overseas assets and quickly repatriate funds back to Malaysia.
The reasons given was to bring back in foreign exchange to support the Ringgit and ensure Khazanah pays a high dividend to help keep down the budget deficit, and make it look like public debt is not increasing at the rates it was 2020-2022.
This is partly why the Ringgit has improved from 4.70 to USD a year ago, to 4.22 to the USD today. Looks like great economic management until you see the smoke and mirrors behind it.
That sort of explains why MAHB was sold at the fire sale price. The sale just didn’t make sense.
Well, Madani is selling off Malaysian investments abroad to manage the Ringgit and lower the deficit. Not very sustainable, but people won’t realise what really happened until well after Madani is gone.
Years of Malaysian investments made abroad, just like Singapore’s Temasek Holdings has long been doing to build up Singapore’s wealth is being undone in Malaysia for short term gain.
Enough said.
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In most business transactions involving a purchase , a sale or a change of shareholding the law imposes a duty of confidentiality on all parties to the transaction till execution or completion of the transaction.
In the exercise of its sovereign rights as a government, the government has the obligation, right power and privilege to keep any such transctions covered in secrecy to such an extent it deems it neecessary to do so, because these are government assets and for the other reasons proffered above.(Though not conclusive)
It appears that Steadyaku II is no different to Seadyaku I (rest in peace) in that he is full of hot air based on ill informed claims, allegations and arguments hitching his precarious cart of arguments and scurrilous claims to the engine of Regime Change.