Taib is richest person in Malaysia, says Shahnaz

The former daughter-in-law of Sarawak Chief Minister Abdul Taib Mahmud has described him as the richest person in Malaysia and possibly in South-East Asia.

Shahnaz Abdul Majid (right), 49, testifying over the assets of her former husband Mahmud Abu Bekir Taib, said Mahmud has 111 accounts worldwide with deposits of an estimated RM700 million.

“He has personal accounts in Canada, the United States, the Caribbean, France, Monaco, Switzerland, Luxembourg, Malaysia, Hong Kong and Switzerland.

“My claim of RM100 million inmutaah (gift) is small as he is worth in excess of RM1 billion. The RM100 million can be said to be worth 10 sen to him,” she described.

For example, she said Mahmud holds two personal accounts in Edmond de Rothschild in Luxembourg with deposits of US$25 million.

She also disclosed that her former husband has two accounts in the same bank in Switzerland with deposits of US$31 million.

Shahnaz added that her former husband also has two HSBC accounts in Jersey with deposits of US$34 million.

The former wife said Mahmud (left) also has an HSBC account in Hong Kong with deposits of US$9.6 in his name.

All these accounts have a combined value of US$100 million in deposits.

She was testifying  in her matrimonial and gift claim of a total of RM400 million, including the RM100 million.

[More to follow]