(Sept 14): It is hard to convince people that the country's economy is being well managed when the prime minister is suffering from a trust deficit, veteran newsman Datuk A. Kadir Jasin ahead of Datuk Seri Najib Razak's highly-anticipated announcement today of measures to strengthen Malaysia's weakening economy as a result of weak commodity prices and the ringgit freefall.

Writing in his blog, the former New Straits Times Group editor-in-chief said the 1Malaysia Development Berhad (1MDB) scandal and the RM2.6 billion "donation" in Najib's private banking accounts had caused many people to lose confidence and trust in the prime minister.

"Today, a lot of people who are involved in the economy or who are informed about it have lost confidence in the way it is being managed or the lack of it. Official assurances have failed to assuage their concern," he said.

Najib's brainchild 1MDB has incurred RM42 billion in debts after just six years of operations and is currently under various probes for alleged financial irregularities.

Najib is also under fire over the RM2.6 billion "donation" he received from a yet unnamed Middle Eastern donor which was deposited into his private accounts ahead of the 13th general election. He has insisted that he did not use the money for private gains.

Weakening commodity prices and the plunge of the ringgit past RM4 against the US dollar, coupled with Najib's political crisis and the slowdown of demand in China have all combined to affect Malaysia's economy.

Kadir today wondered if Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi can manage the economy, based on his past experience as a banker and successful business executive.

He said Zahid, who was appointed to his post to replace Tan Sri Muhyiddin Yassin in a Cabinet reshuffle late July, must prove his capabilities to bring back credibility and trustworthiness to the government.

"He must show that his years as a banker and a successful business executive had earned him the stripes needed to participate in managing the economy.

"He has to tamper his 'political animal' image with a more smoothening temperament of a DPM and national leader."

Kadir said Zahid, as home minister, should realise that deporting and seeking the arrests of foreign journalists who write negative things about the country does not help convince the world Malaysia is a democratic, civilised and moderate country.

"It does not help convince visitors and investors that we are a safe place to be."

He also said Zahid has to admit that whatever political narrative that Najib used to justify 1MDB's existence and the billion ringgit donation, it is a good example of bad corporate governance due to flouting of rules, regulations and standards.

“Investigations by monetary authorities in Singapore, Switzerland and Hong Kong against 1MDB and the freezing of bank accounts associated with the company cast aspersion on our integrity and dependability as an investment destination.”

He said he would like to assume that Zahid acknowledged that saving the economy is as much his priority as showing undivided loyalty to Najib.

"He could very well be holding the key to the survival of not only Umno, but also the entire nation. It may sound like an overstatement, but may not be far from the truth." – The Malaysian Insider