Why are we talking about just the RM42 million? In 2008, they wanted Umno and Barisan Nasional kicked out not because of the RM42 million ‘theft’ but because of the RM100 billion that Mahathir stole and the RM500 billion Petronas money that has not been properly accounted for. So, it is RM600 billion, not just RM42 million.
NO HOLDS BARRED
Raja Petra Kamarudin
In 2009, Malaysiakini and The Rocket raised some very interesting issues regarding Tun Dr Mahathir Mohamad’s theft of the Malaysian taxpayers’ money, which you can read below.
The gist of these two articles is that, first of all, about RM100 billion of the Malaysian taxpayers’ money has been stolen by Mahathir while he was Prime Minister for 22 years and, secondly, RM500 billion of Petronas’s money from 1974 to 2009 (until around the time that Najib Tun Razak took over as Prime Minister) has not been properly accounted for.
Abdullah and Mahathir have not accounted for RM420 billion of the RM500 billion Petronas money from 1981 to 2009
Basically, they are talking about RM500 billion under Tun Hussein Onn, Mahathir and Tun Abdullah Ahmad Badawi. Under Mahathir’s 22-year watch alone the amount was about RM170 billion while RM250 billion was under Abdullah 6-year watch.
Hence Mahathir and Abdullah combined spent RM420 billion of that RM500 billion (according to Lim Kit Siang and The Rocket). And that does not include whatever went to supposedly Umno companies and businesses that was syphoned out by Daim Zainuddin.
Within that RM500 billion is the RM15.2 billion that belongs to Terengganu — which Mahathir stole from Terengganu from 2000 to 2009. And note that they are talking about the period up to 2009, which means the period BEFORE Najib Tun Razak became Prime Minister.
Many Chinese millionaires became billionaires under Mahathir’s rule, and still are
In 2008, the Chinese DAP and the opposition Pakatan Rakyat raised this shameful robbery as the main reason why Malaysians need to kick out Umno and Barisan Nasional (and that was the reason why many of us campaigned for the opposition in the 2008 general election). Now that Umno and Barisan Nasional have finally been kicked out, the Chinese DAP and the opposition Pakatan Harapan quietly drop all these allegations and just talk about the RM42 million ‘theft’ from SRC International Sdn Bhd.
Why are we talking about just the RM42 million? In 2008, they wanted Umno and Barisan Nasional kicked out not because of the RM42 million ‘theft’ but because of the RM100 billion that Mahathir stole and the RM500 billion Petronas money that has not been properly accounted for. So, it is RM600 billion, not just RM42 million.
Under the Petroleum Development Act 1974, Petronas reports to the Prime Minister and not to Parliament. When Mahathir took over as Prime Minister in 1981, he did not amend the Petroleum Development Act 1974 to compel Petronas to report to Parliament instead of just to the Prime Minister.
Mahathir the kleptocrat calls Najib a kleptocrat while Kit Siang swallows his own spit
In 2008, the Chinese DAP and the opposition Pakatan Rakyat talked about the RM100 billion that Mahathir stole and the RM500 billion unaccounted for Petronas money. That was ten years ago. Now that Umno and Barisan Nasional have been kicked out, they no longer talk about the RM100 billion that Mahathir stole and the RM500 billion unaccounted for Petronas money. They just talk about the RM42 million SRC International money.
Lim Kit Siang, the Chinese DAP and Pakatan Harapan are fakes. They came into power in May 2018 based on lies and fake news. But now we will make them account for all their promises.
Kit Siang said the first thing they will do if the opposition comes to power will be to throw Mahathir into jail but now does a U-turn
In 2008, Lim Kit Siang, the Chinese DAP and the opposition Pakatan Rakyat promised us they would make Mahathir account for the RM100 billion which he stole and for the RM500 billion Petronas money. While they want Najib to account for the RM42 million SRC International money, Mahathir must also account for the RM100 billion which he stole and for the RM500 billion Petronas money that is unaccounted for.
That was what Lim Kit Siang, the Chinese DAP and the opposition Pakatan Rakyat promised us in 2008. So now it is time for them to deliver this promise. Make Mahathir account for the RM100 billion which he stole and for the RM500 billion Petronas money that is unaccounted for.
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This was what Greg Lopez of the New Mandala wrote on 28th November 2009:
According to Barry Wain, author of the soon-to-be launched ‘Malaysian Maverick: Mahathir Mohamad in Turbulent Times’, direct financial losses amounted to about RM50 billion.
This doubled once the invisible costs, such as unrecorded write-offs, were taken into account. The RM100 billion total loss was equivalent to US$40 billion at then prevailing exchange rates.
Barry, who is a former editor of the Asian Wall Street Journal, says most of the scams, which included a government attempt to manipulate the international tin price and gambling by Bank Negara on global currency markets, occurred in the 1980s.
‘Malaysian Maverick’ is the first independent, full-length study of Mahathir, who retired in 2003 after more than two decades as premier. The book will be published globally next week by Palgrave Macmillan.
Wain writes that the Mahathir administration, which took office in 1981 with the slogan, “clean, efficient, trustworthy”, was almost immediately embroiled in financial scandals that “exploded with startling regularity”.
By the early 1990s, he says, cynics remarked that it had been “a good decade for bad behaviour, or a bad decade for good behaviour”.
Secret military deal with US
The book also reveals that:
– Mahathir, despite his nationalistic rants, signed a secret security agreement with the United States in 1984 that gave the Americans access to a jungle warfare training school in Johor and allowed them to set up a small-ship repair facility at Lumut and a plant in Kuala Lumpur to repair C-130 Hercules transport aircraft.
– Mahathir used a secret fund of his ruling Umno to turn the party into a vast conglomerate with investments that spanned almost the entire economy.
– Mahathir’s Umno financed its new Putra World Trade Centre headquarters in Kuala Lumpur partly with taxpayers’ money, by forcing state-owned banks to write off at least RM140 million in interest on Umno loans.
Wain, who is now a writer-in-residence at the Institute of Southeast Asian Studies in Singapore, however credits Mahathir with engineering the country’s economic transformation, deepening industrialisation and expanding Malaysia’s middle class.
But Mahathir had undermined state institutions, permitted the spread of corruption and failed to provide for Malaysia’s future leadership, he says. (Source Malaysiakini)
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DAP’s The Rocket published this article on 15th October 2009:
Over the past 33 years, our cherished national petroleum company Petronas has contributed half a trillion ringgit (that’s RM500,000,000,000) to the Malaysian government and in the past nine years given RM15.2 billion to Terengganu. How have these sums been spent?
We deserve to know how the entire half a trillion ringgit package was spent over 33 years starting from Tun Hussein Onn’s leadership. Moreover, what about the RM15.2bil of royalty that has been paid to the Terengganu state government? According to Lim Kit Siang, it was “hijacked by the Federal Government when the Terengganu state government fell to PAS” and the sum was consequently misused.
For this reason, DAP calls for a public inquiry on how half-a-trillion petro-ringgit contributed by Petronas to the Federal Government in the past 33 years and the RM15.2 billion ringgit royalty to Terengganu from 2000-2009 has been spent and to give a full accounting.
Notable bailouts and mega projects involving Petronas money:
* RM2.5bil bailout of Bank Bumiputra in 1986 as a result of the first financial scandal of the Mahathir premiership (now completely overshadowed by the RM12.5bil Port Klang Free Zone scandal involving top MCA leaders);
* Another RM1 billion bailout of Bank Bumiputra in 1989;
* Bailout of sick national projects, including MAS and Proton;
* Extravagant billion-ringgit mega-projects like the Petronas Twin Towers and Putrajaya;
* The title sponsorship rights for the Malaysian Formula 1 Grand Prix and sponsorng the Sauber PetronasS racing team.
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