KUALA LUMPUR: Tun Dr Mahathir Mohamad should reflect himself before being critical towards Prime Minister Datuk Seri Najib Razak’s investment initiatives announced during the latter's recent working visit to the United States (US).
Blogger Raja Petra Kamarudin, said the former Premier had been “whacking” Najib on the Employees Provident Fund (EPF) investments abroad, whereas it was he himself who grumbled in 2005 that EPF was not investing enough abroad.
“In 2005 he (Mahathir) found out that Tan Chong (Tan Chong Motor Holdings Bhd), Boon Siew (Tan Sri Low Boon Siew, founder of Boon Siew Sdn Bhd), Genting and many other Chinese conglomerates were investing abroad and their overseas investments were far higher than their domestic investments,” said Raja Petra in ‘Malaysia Today’ website, today.
Raja Petra claimed that Mahathir had reckoned that EPF should also be investing abroad since it (overseas investment) hedged against inflation and recession and ensured a diversified portfolio and higher returns.
“This was why Mahathir told EPF to not ‘keep the money under the pillow and earn nothing’ but invest more overseas instead.”
Raja Petra also said Mahathir should be the last person on earth to comment on EPF when it was the Parti Pribumi Bersatu Malaysia chairman who abused money from the fund to gamble on the tin market in the early 1980’s, just as how he did on the forex market.
“Mahathir had been using EPF as his personal piggy bank to cover losses, financial scandals, and disasters due to his various misadventures and bad decisions. Billions had been lost and EPF was used to pay for these losses,” he claimed.
He said Malaysians had just begun to realise the truth on Bank Negara’s RM32 billion forex losses and revealed that Mahathir had also used EPF funds to pay and hide the losses faced during the Maminco tin scandal in the 1980s.
“And since Mahathir is so concerned about how EPF’s money is invested this would be a good time for the truth to be told.”
Raja Petra also took to task Pakatan Harapan leaders who claimed that Najib had employed a lobby firm to arrange his meeting with US President Donald Trump, whereas Mahathir himself had paid approximately US$10 million to meet then President George W. Bush in May 2002.
“Until today he never rebutted this allegation. And, as Mahathir himself is fond of saying, if you cannot prove your innocence that means you are guilty,” said Raja Petra.
He called Mahathir as a “loose cannon” who is a danger to himself and his fellow opposition leaders.
“The longer Mahathir stays in the opposition and the more he talks, the more damage he causes to Pakatan Harapan. And that was the very reason why (Datuk Seri) Mukhriz (Mahathir) was sacked as Kedah Menteri Besar.
“The trouble with Mahathir is the more he screams and shouts, the more he puts his foot in his mouth. And Pakatan Harapan is facing a giant dilemma on how to repair the serious damage which Mahathir is doing to the opposition,” he said.
He urged Mahathir to remain silent before he gets himself and Pakatan Harapan into more trouble, and if not, it may cost them many votes in the next general election.