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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Malaysian King Reduces Ex-PM Najib Razak's Prison Sentence To Six Years
Malaysia's Pardons Board announced that former King Abdullah reduced former Prime Minister Najib Razak's sentence in the 1MDB scandal in one of his final decisions before the monarch stepped down, handing the throne over to his successor.
- Najib's prison term was halved and will now be six years, ending in August 2028. His fine was discounted to MYR50mn from MYR120mn. Note that the ex-Prime Minister remains on trial for multiple counts of abuse of power.
- The decision had been leaked by local media earlier this week, but the official confirmation has only just been released. Najib applied for a royal pardon in the early days of his sentence.
- Najib led the United Malay National Organisation (UMNO) which used to dominate Malaysia's political scene for several decades, but now is a junior partner in Prime Minister Anwar Ibrahim's coalition government.
- UMNO has been pushing for Najib's release from prison since his arrest, with the so-called "court cluster" of politicians linked to the 1MDB scandal still representing an influential faction within the party.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.