The belief amongst political pundits is Dato Seri Tengku Zafrul was appointed by Tan Sri Muhyiddin, thus remained aligned to him despite being reappointed by Dato Seri Ismail Sabri as Minister of Finance. Though an UMNO branch member and associated with the 'ole Tingkat 4 group, he is seen pro-PPBM.
The talk on the grapevine that his attempt to get a place in Kuala Lumpur to run under UMNO ticket for the GE15 has come to a nought. He could run in Lembah Pantai where his uncle was formerly the UMNO Division Chief and his brother the current Deputy Division Head. It may not be easy pitting up against current MP Fahmi Fadzil.
His name turned up in his mother home town of Kuala Pilah. The current MP Eddin Shazlee is from PPBM and is quite sickly. PPBM may consent to his candidacy.
Talking of Tingkat 4, Khairy Jamaluddin is an UMNO Minister but taken an opposing position against President Zahid Hamidi. He is not only with the faction friendly to PN and indirectly PPBM, but recently seen at Publika meeting Muhyiddin and bringing 7 UMNO Head of Divisions to see him and Hamzah Zainuddin.
It is puzzling to see MalaysiaNow picking on an exposure by SteadyKu Hussein in his new website here (blocked by authority again) against Tengku Zafrol and Securities Commission, but angle-ing or highlighting here on SC.
To the cynical, it is seen as a threat to SC to "settle" Azam's case fairly, however the political analyst see it as PPBM aligned portal helping to attack Tengku Zafrul. There have been several messages viraling accusation towards him.
MalaysiaNow been reporting Azam's side of the story and today's published article by UK-based Malay criminologist, "Did PSC exceeds its power in calling Azam?" was certainly clear which side the pro-Azmin and PPBM friendly portal is with.
Initially, MalaysiaNow was joining the crowd on Tan Sri Azam Baki in the manner to quote from R Rajaratnam here, chanting, "Guilty! Guilty! Guilty!"
However, their January 6th report here was classic MalaysiaNow slandering. They insinuated guilty as charged by giving the title, "Sharing stock accounts against the law, says securities commission" to report on SC statement to investigate.
At the material time, a reliable source claimed they have not talk to broker and even Azam himself. He had not broken any law or Bursa rules under Securities Industry Act (CDS) 1991 and it is acceptably within the exceptions and exemptions provided.
MalaysiaNow is only seen as more committed to also give Azam's side of the story after Muhyiddin came under fire for washing his hands from taking responsibility to appoint Azam as MACC Chief Commissioner and Azam begin his procedure to file a lawsuit against Lalitha.
Analysts are suspecting MalaysiaNow report on PKR and against Tan Sri Abu Zahar Ujang is as if they are still PKR friendly.
The report here hardly mentioned Tengku Zafrul by name, but the same story have been viraling over Whassapp and Telegram Groups with his name being explicitly mentioned. It is MalaysiaNow promoting the authenticity of the accusations made.
During the recent on again issue on EPF withdrawal, a rumour within his Alumni was that Tengku Zafrul has offered his resignation. Talking about Alumni, one PPBM member close to Muhyiddin had recently cast aspersion against more directly.
Respect where it is due, MCKK do produce scholastically brilliant Malay students, and has the strong tradition in educating the creme de la creme Malays into leaders in politics, civil service and corporates. For the past few decades, other schools have emerged to produce better academic results.
The attack on Tengku Zafrul raises questions on his performance as Minister of Finance. Social media is calling him more as Minister for Banks as he scrutinise proposals and draw up policies like the risk assessment of a credit officer or investment banker than his role to revive the economy.
Two weeks ago, he was talking about consolidation of public finances in the manner of neoliberal and their set of policy templates. He failed to understand the one role in government to spend money to revive economic activities.
His fiscal management is in serious doubts as he was hyping up the revenue projection for 2021 budget in his 2020 budget presentation but ended up seriously short. For 2022, his budget claimed to be the biggest but the allocations announced are manipulating the untrue.
He has absolutely no mindset in creating policies with an impactful economic implication to revive the economy and Government public finances.
His refusal to budge for another EPF withdrawal for flood victims has no depth and cliche in the explanation. An indication he lacked the ability to understand the problems of common folks, public reaction to his communique, and creativity in problem solving as Minister of Finance, not as Bank CEO.
A South American government refused the same public demand and caused the ruling party to lose the next general election. Increasingly, Tengku Zafrul not quite apparent incompetency yet may prove to be a liability to the delicately balanced PN-BN government.
Several names from the private sector have been mentioned and interviewed by Tengku Zafrul's superior. It may not be quite the attack on SC for Azam Baki.