The release of the Public Accounts Committee report on the 1MDB scandal has been trumpeted as sweet vindication for our Prime Minister.

For the better part of the past 12 months, Najib Razak has been judged in the court of public opinion as a dictator, a perpetrator of grand corruption, an accessory to murder and even a coward. There have been videos of football fans belting out songs that call for his resignation, art works depicting him as a clown and even a case of someone screaming a profanity at him as he made his way through a crowd.

These have all instilled a belligerent mood amongst the rakyat, and the PAC report is not likely to silence his most ardent detractors. However, even with the investigations in Hong Kong, Switzerland, the United States and Singapore continuing, it is likely that the PM has won this round.

The latest news has been nothing but positive not only for Putrajaya, but ordinary citizens as well. 1MDB has put out statements acknowledging its failures and saying that the repayment of its huge debts is well under way. The ringgit has rallied, buoyed by stronger oil prices and returning investment that had been spooked by the perceived instability of the political situation here. Several mega projects that may prove a boon to the economy – like the High Speed Rail – are on the cards, Sarawak will receive unprecedented levels of development expenditure upon BN’s expected win, and Johor seems to be coming into its own.

There is not much other than the sweltering weather for the layman to complain about. For Najib’s opponents, it must seem like throwing oneself against a steel wall endlessly. No matter how bad it gets, nothing seems to get him.

The fact is that the iron has cooled, and the release of the PAC report assures Najib and his supporters that he is unassailable, at least in Malaysia. He is cleared in the eyes of the law here, and an investigation is merely an investigation unless something concrete is found and brought to court. The Opposition will surely fight against the notion that the PAC’s final report is the last word on the 1MDB issue, but unless a smoking gun is turned up, the PM has no reason to believe his unified front will crumble.

The Opposition has, for far too long, failed to name a candidate leader despite Anwar Ibrahim’s incarceration. With due respect to Wan Azizah Ismail, it is obvious to the ordinary member of the public that she does not want to lead.

The Opposition’s failure to capitalise on the overwhelming weakness of the Prime Minister is ultimately not due to Anwar’s absence. Members of the various parties in Pakatan Harapan have been too preoccupied with power struggles and petty squabbles for the coalition to be effective. They have been too unwilling to address the weaknesses of Pakatan’s fundamentals.

Pakatan will need to buck up in the few years that are left before GE14 because, unless some damning piece of evidence turns up from the international investigations, Najib is not going anywhere despite his record as the most unpopular PM in history.

If Najib eases the heavy hand he has used on dissent over the past 12 months, the curses will dissipate or at least be reduced to mere murmurs of discontent. He may never be truly popular again, but unless the Opposition steps up and rallies around a candidate leader, one who can start work tomorrow, is qualified, determined, principled, and hard working, Najib will win the coming general election.