YOURSAY ‘Mystery seller, insider trading, money laundering, kickbacks...’
NOW: M'sian man admits profiting from Mara deals
Vijay47: Reduced to the bare essentials, everything will always appear above board and in accordance with that now popular word, procedure.
Nobody can deny a man's rose-tinted fortune if a good deal comes his way and gently falls into his lap. Selangor MB Mohd Khir Toyo would be able to confirm such munificence.
Following this however, we unfortunately will have those niggardly details like the relationship of the man in question with Mara, whether Mara officials were aware that the property could actually be acquired at a much lower price, though they will vehemently deny any such knowledge.
Finally, that A$9 million question - who the good Samaritan shared the profits with.
The unfair feature of shady dealings is that try as we might to keep things hidden beneath the bushel, the truth has an annoying habit of revealing itself. As was shown in the case of that bigger elephant, weighing US$700 million.
Anonymous_3e79: What source of funds was used to purchase the Australian properties by these business individuals? And how was it paid? Do their incomes support such purchases as reflected by their tax submissions?
What was the time span between their purchases and subsequent sale to Mara? How were the transactions were carried out and were any bribes paid to Mara officials?
Hplooi: The businessman is arguing that he had not contravened any law on the basis of "willing buyer, willing seller". But a number of contraventions can be considered:
1) Insider trading, which is corruption.
2) Bribery - however for this, the money trail will have to be positively identified.
3) Money laundering - where an inflated price is paid over and above market rates. This is blatant and obvious. The Australian police is probably looking at this, given the buyer is a public institution.
But of course based on Umno’s ‘ketuanan’ ideology, Mara has done no wrong because:
1) Others got away with gazillions of billions, and this is only tens of millions.
2) The evil Chinese are just plain jealous of a successful Malay.
3) Mara is exclusively for Malays, so buying this property is good for the Malays and questioning it is to ‘mencabar bangsa dan agama’ (challenge race and religion).
Goldee: The question here is not about a willing seller-willing buyer transaction. It is how it was transacted that might have some elements of corruption in the deal.
Swipenter: This is legalised daylight robbery. There is nothing the law can do about it. Within a few months, one can make 40 percent profit. I wonder if the businessman paid his taxes on his gains regarding this transaction in Australia.
Paradise: Wow, that's A$9 million - equivalent to RM26 million - profit within months. But this gives rise to another question.
Was this businessman's admittance done in order to absolve Mara officers? Any kickbacks involved?
CQ Muar: Critics have not been wrong to criticise the Umno-led government all the while for the rampant corruption committed over the years.
Now, with the 1MDB fiasco involving PM Najib Razak, and the Mara scandal, I guess it's as good as game over for the present regime.
Even the usual distribution of money to the innocent and ignorant won't be of much help this time around. Najib and his boys can call it a day with an oriental "sayonara" or "chai chien". Like I always say, nothing lasts forever, right?
Np: You ask the whole world and everyone will tell you that there is something rotten in the deal.
These people must have done it so often - robbing the rakyat - that it has become their right do so. This is all in the name of religion and affirmative action.
Kamaapo: But what's the need for registering shell companies in far off tiny islands in transacting these murky, shadowy deals? Mara officers concerned should answer these strange, suspicious, cumbersome registrations.
Bumiputhran: In any sale and purchase of properties, the deal is not confined to the two parties; willing buyer-willing seller. There is a third party - the accredited professional property valuer.
If you want to pull in a fourth party, the buyer can call on his sixth sense for due diligence.
Dont Just Talk: It is the usual simple trick of the ‘willing buyer and willing seller’ formula and it is also a coincidence that the fellow bought the particular properties nine months earlier, and then resold it to Mara for profit of A$9 million.
Everything is above board but it smells like a copy of the PKFZ (Port Klang Free Zone) scandal.
Anonymous 007: Yes, this is an old trick which anyone can guess. Sure, I make a good profit over the sale but then I have to give something to the person who recommended the purchase.
Fairperson: Too good and nice to believe. If this man had made a handsome profit from the deal, then Mara must be really ‘bodoh’ to let the middleman make so much money.
The public is not so stupid anymore to buy these kinds of stories. The Inland Revenue Board must check this man's income and make sure he had paid all the taxes as a result of this handsome profit. This looks like a staged show.
Anon1: Mr Businessman, are you saying that Mara paid you such an overly high price without knowing the actual market value of the property?
That can't work unless it was agreed that you pay a sizable contribution to a crooked Mara official from your obscene profit.
If in the unlikely event that is not the case, then Mara officials have failed the taxpayers due to their gross neglect. -Mkini
NOW: M'sian man admits profiting from Mara deals
Vijay47: Reduced to the bare essentials, everything will always appear above board and in accordance with that now popular word, procedure.Nobody can deny a man's rose-tinted fortune if a good deal comes his way and gently falls into his lap. Selangor MB Mohd Khir Toyo would be able to confirm such munificence.
Following this however, we unfortunately will have those niggardly details like the relationship of the man in question with Mara, whether Mara officials were aware that the property could actually be acquired at a much lower price, though they will vehemently deny any such knowledge.
Finally, that A$9 million question - who the good Samaritan shared the profits with.
The unfair feature of shady dealings is that try as we might to keep things hidden beneath the bushel, the truth has an annoying habit of revealing itself. As was shown in the case of that bigger elephant, weighing US$700 million.
Anonymous_3e79: What source of funds was used to purchase the Australian properties by these business individuals? And how was it paid? Do their incomes support such purchases as reflected by their tax submissions?
What was the time span between their purchases and subsequent sale to Mara? How were the transactions were carried out and were any bribes paid to Mara officials?
Hplooi: The businessman is arguing that he had not contravened any law on the basis of "willing buyer, willing seller". But a number of contraventions can be considered:
1) Insider trading, which is corruption.
2) Bribery - however for this, the money trail will have to be positively identified.
3) Money laundering - where an inflated price is paid over and above market rates. This is blatant and obvious. The Australian police is probably looking at this, given the buyer is a public institution.
But of course based on Umno’s ‘ketuanan’ ideology, Mara has done no wrong because:
1) Others got away with gazillions of billions, and this is only tens of millions.
2) The evil Chinese are just plain jealous of a successful Malay.
3) Mara is exclusively for Malays, so buying this property is good for the Malays and questioning it is to ‘mencabar bangsa dan agama’ (challenge race and religion).
Goldee: The question here is not about a willing seller-willing buyer transaction. It is how it was transacted that might have some elements of corruption in the deal.
Swipenter: This is legalised daylight robbery. There is nothing the law can do about it. Within a few months, one can make 40 percent profit. I wonder if the businessman paid his taxes on his gains regarding this transaction in Australia.
Paradise: Wow, that's A$9 million - equivalent to RM26 million - profit within months. But this gives rise to another question.
Was this businessman's admittance done in order to absolve Mara officers? Any kickbacks involved?
CQ Muar: Critics have not been wrong to criticise the Umno-led government all the while for the rampant corruption committed over the years.
Now, with the 1MDB fiasco involving PM Najib Razak, and the Mara scandal, I guess it's as good as game over for the present regime.
Even the usual distribution of money to the innocent and ignorant won't be of much help this time around. Najib and his boys can call it a day with an oriental "sayonara" or "chai chien". Like I always say, nothing lasts forever, right?
Np: You ask the whole world and everyone will tell you that there is something rotten in the deal.
These people must have done it so often - robbing the rakyat - that it has become their right do so. This is all in the name of religion and affirmative action.
Kamaapo: But what's the need for registering shell companies in far off tiny islands in transacting these murky, shadowy deals? Mara officers concerned should answer these strange, suspicious, cumbersome registrations.
Bumiputhran: In any sale and purchase of properties, the deal is not confined to the two parties; willing buyer-willing seller. There is a third party - the accredited professional property valuer.
If you want to pull in a fourth party, the buyer can call on his sixth sense for due diligence.
Dont Just Talk: It is the usual simple trick of the ‘willing buyer and willing seller’ formula and it is also a coincidence that the fellow bought the particular properties nine months earlier, and then resold it to Mara for profit of A$9 million.
Everything is above board but it smells like a copy of the PKFZ (Port Klang Free Zone) scandal.
Anonymous 007: Yes, this is an old trick which anyone can guess. Sure, I make a good profit over the sale but then I have to give something to the person who recommended the purchase.
Fairperson: Too good and nice to believe. If this man had made a handsome profit from the deal, then Mara must be really ‘bodoh’ to let the middleman make so much money.
The public is not so stupid anymore to buy these kinds of stories. The Inland Revenue Board must check this man's income and make sure he had paid all the taxes as a result of this handsome profit. This looks like a staged show.
Anon1: Mr Businessman, are you saying that Mara paid you such an overly high price without knowing the actual market value of the property?
That can't work unless it was agreed that you pay a sizable contribution to a crooked Mara official from your obscene profit.
If in the unlikely event that is not the case, then Mara officials have failed the taxpayers due to their gross neglect. -Mkini
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