Wednesday, March 8, 2023

Summary of financial scandals in Malaysia




The Bank Bumiputra twin scandals in the early 1980s saw US$1 billion losses (RM3.2 billion in 2008) Betting in foreign exchange futures cost Bank Negara Malaysia RM30 billion in the 1990s. Money of RM10 billion public funds in the Valuecap Sdn Bhd operation to shore up the stock market.The government paid more than RM6,000 per notebook vs per market price of less than RM3,000 through some new consortiums that was setup just to transact the notebook deal. Government paid more than RM6,000 per notebook vs per market price of less than RM3,000 through some new consortiums that was setup just to transact the notebook deal. In Advisors Fees, Mahathir was paid RM180,000, Shahrizat Abdul RM404,726 and Abdul Hamid Othman (religious) RM549,700 per annum.Since 1997, Petronas has handed out a staggering RM30 billion in natural gas subsidies to IPPs who were reaping huge profits. At least 10 Chinese owned bus companies had to be sold to MARA or other Malay transport companies due to rejection by Malay authorities to Chinese applications for bus routes and rejection for their applications for new buses.Malaysia is possibly the most racist country in the world with the following segregation. 6 decades of oppression, suppression and discrimination has got to stop in order to build a new Malaysia. I am 60 years old, I have seen during Tungku Abdul Rahman times, we had one of the best Government servant, one of the best police officers.0% of non-Malay staff are legally required in Malay companies. 5% of all new intake for government police, nurses, army, are non-Malays. 7% is the percentage of Chinese government servants in the entire government; a drop from 30% in 1960. I am 60 years old.

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