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Tuesday, July 14, 2015

People in Najib and Abdullah’s offices linked to polymer bank notes scandal, says Aussie paper

Prime Minister Datuk Seri Najib Razak is accused of being involved in a corruption scandal relating to contracts to print polymer bank notes. – The Malaysian Insider filepic, July 14, 2015.Prime Minister Datuk Seri Najib Razak is accused of being involved in a corruption scandal relating to contracts to print polymer bank notes. – The Malaysian Insider filepic, July 14, 2015.
Currently under investigation for the controversies surrounding 1Malaysia Development Berhad (1MDB), Prime Minister Datuk Seri Najib Razak's office has been hit with yet another corruption accusation, this time by the Australians involving contracts to print polymer bank notes.
The Sydney Morning Herald (SMH) reported that Canberra's requests for information from Putrajaya regarding improper dealings involving two Australian Reserve Bank firms over the contracts, have gone unheeded.
Quoting sources, the daily said senior officials in the Australian government are aware of intelligence that implicates people in the offices of both Najib and his predecessor Tun Abdullah Ahmad Badawi in the corruption case.
The case has has triggered the prosecution of several Australian businessmen who worked for Securency and Note Printing Australia, SMH said.
It said that Malaysian officials were allegedly bribed by the two companies to win contracts to turn ringgit from paper notes to polymer between the late 1990s and 2009.
Some of the corrupt middlemen were apparently close to those in Najib and Abdullah's offices, the report added.
SMH said that Najib's representative dismissed the claims and has threatened legal action.
Besides that, Wikileaks has also been accused of publishing a suppression order by the Victoria's Supreme Court that had named Najib. The anti-secrecy group was reported to be under probe for the breach.
The order had prevented the publication of any information that "reveals, implies, suggests or alleges" that Najib ever "received or attempted to receive a bribe or improper payment" as well as the naming of Abdullah and other politicians from Indonesia and Vietnam, so as to not "unfairly" implicate the leaders and protect Australia's international relations and national security.
But earlier today, the Victoria Supreme Court quashed the gag order which Australia's Department of Foreign Affairs and Trade had obtained last year.
SMH reported that the court noted that although Najib and Abdullah were not the ones who were alleged to have received the bribes, the offices of both leaders have been implicated in the corrupt dealings.
PKR secretary-general Rafizi Ramli was reported as saying that the Malaysian public deserved to know why Najib or his representatives had met with officers from one of the companies here.
"These questions could not come at a more important time in Malaysia," he was quoted as saying, referring to the recent scandals that Najib has been been linked to in Malaysia.
Australia will be seen as being complicit with Najib to keep him in power if it went to great lengths to prevent the disclosure of the information, Rafizi was reported to have said.
It was previously reported that a former politician had, in November 2007, told the Reserve Bank of Australia that he had managed to convince the-then prime minister (Abdullah) to adopt the polymer bank note technology.
The bribery allegations first surfaced in 2009, which prompted the Australian Federal Police and Malaysian Anti-Corruption Commission (MACC) to begin separate probes.
In 2010, the MACC detained three individuals linked to the supply of RM5 polymer notes following a report that Securency had offered bribes to Malaysian officials.
All three, including a businessman, were charged with accepting RM11.3 million to secure the contract from Bank Negara Malaysia and to ensure that the government opted for the polymer notes.
Abdullah had in 2011 denied allegations that the two Australian firms attempted to bribe him for a RM100 million currency contract during his tenure.
- TMI

3 comments:

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  3. Very interesting article, CURRENCY.

    I have came across certain notes are prone to fraying or torn, both new polymers and old alike.
    The old note might be worn-out but that should not be the same issue for these new polymer notes.

    Upon discovering of some torn polymer notes, I immediately reported to the local police. Noting was done, no report number, NOTHING, wasted my entire evening to do the (morally) correct thing.

    1 = Currency might be FAKE.
    2 = Trader might be passing out fake notes to unsuspecting victims. They might be an accomplice to certain money laundering operation.
    3 = Bank Negara might be circulation currency of POOR or INFERIOR quality.

    I am aware that certain standards are around to curb or reduce these issue, at least around the world.
    The nearest standard around Asia is MS IEC 60335-2-10:2002 by SIRIM but it is not for testing the durability of currency, it is used for safety of household and similar electrical appliance, including floor treatment machines and wet scrubbing machines.
    The nearest international standard for wet scrubbing testing is ASTM D4213 which is unfortunately used to test the durability of paints. (Abrasion Weight Loss , abrasion resistance, resistance/abrasion/wet abrasion/scrub, etc)

    What are the exact standards to test the durability of these new polymer currency?
    Bank Negara's website does not provide the any necessary details.
    It is omitted in the manufacturer's web site as well. Official documents by these manufacturers are clouded filled with JARGONS.

    How to know if the new polymer currency will last during its lifetime, at least to the average consumers.
    I am made aware that these supposedly new polymer notes will last longer that the old notes, as claimed by Bank Negara.
    One perhaps two more years than its precursor?
    Exactly how long is their VALUABLE lifetime?

    I expect the BETTER for my mother(land), the BEST, if possible.

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