What About The RM400 Billion That Malaysia Lost Since 1980?

Yes, today, Najib is in court facing trial for ‘stealing’ RM42 million. Meanwhile, no one is going to be punished for the RM400 billion that the country lost due to corruption and abuse of power. And more is being added to that RM400 billion — such as the Penang Undersea Tunnel corruption that Lim Guan Eng and the rest of the DAP leaders are involved in.

NO HOLDS BARRED

Raja Petra Kamarudin

The first major financial scandal that shocked Malaysia was the BMF scandal in Hong Kong, perpetrated by George Tan just before Tun Dr Mahathir Mohamad became Malaysia’s Fourth Prime Minister. At that time, it was about RM10 billion. In today’s value that would come to RM50 billion or thereabouts.

The Abdullah Ang scandal was next followed by the RM1.5 billion (today worth about RM4 billion) Tan Koon Swan fiasco. Both Abdullah and Koon Swan ended up in jail.

Abdullah Ang’s case was unique, though. While he slept in the Kajang Prison at night, in the daytime he was allowed to leave the prison to go to the office to continue running his business. Abdullah Ang, of course, was a very close crony of Mahathir.

Eric Chia leaving court after being found not guilty on a ‘technicality’

Another close crony of Mahathir was Eric Chia. Perwaja cost the country RM15 billion about 20 years ago, or about RM27 billion today.

MAS had nothing to do with a Chinaman but the person behind that financial disaster was still a Mahathir-Daim crony, Tajudin Ramli. That disaster cost the country about RM9.5 billion, or about RM14 billion today. The MAS fiasco was to cover up the RM31.5 billion Bank Negara forex disaster, which today would be worth RM65 billion.

Hence the combined Bank Negara-MAS disaster is worth RM79 billion, far higher than the RM4 billion 1MDB ‘theft’ that they are talking about.

Tajudin told the court the RM9.5 billion MAS loss was to cover the RM31.5 billion Bank Negara loss

According to the 2015 WTF Report: “You may have seen online somewhere the long list of scandals in Malaysia that has resulted in the country losing billions and billions of ringgit. Time Magazine quoted an economist at Morgan Stanley in Singapore as saying that the country might have lost as much as US$100 billion since the early 1980s to corruption.”

Yes, US$100 billion, or more than RM400 billion at that time. Today, that can be conservatively estimated at between RM750-850 billion.

Now you know why Malaysia’s debts are RM1 trillion!

Today, Najib Tun Razak is in court to face trial for an amount of RM42 million. RM42 million!

Najib is in court for ‘stealing’ RM42 million

No doubt a crime is still a crime and RM42 million is still a lot of money. But RM42 million is nowhere near the RM1 billion (today worth about RM1.7 billion) that Petronas had to spend to bail out Mahathir’s son’s shipping company.

And, originally, they wanted RM2 billion, mind you, (worth RM3.4 billion today), but Anwar Ibrahim cut it to half (which made Mahathir very angry and the following year kicked Anwar out).

RM42 million is also nowhere near the RM79 billion (or RM41 billion then) Bank Negara-MAS disaster when Mahathir and Daim decided to play the forex market and lost — just like they failed and lost RM1.6 billion (today worth RM6 billion) in the Maminco tin fiasco when Mahathir tried to corner the tin market in 1981-1982.

Liong Sik was found not guilty when Mahathir told the court he ‘could not remember’

PKFZ, another ‘Chinaman-driven’, Mahathir-crony scandal, cost the country RM12.5 billion or RM18 billion today.

Yes, today, Najib is in court facing trial for ‘stealing’ RM42 million. Meanwhile, no one is going to be punished for the RM400 billion that the country lost due to corruption and abuse of power. And more is being added to that RM400 billion — such as the Penang Undersea Tunnel corruption that Lim Guan Eng and the rest of the DAP leaders are involved in.

Of course, they did try to punish Eric Chia and Ling Liong Sik. But both were found not guilty because Mahathir told the court to find them not guilty. The people behind the RM79 billion Bank Negara-MAS fiasco were never brought to court at all even though Lim Kit Siang, Anwar Ibrahim, Tajudin Ramli and Dr Rosli Yaakop had revealed that Mahathir and Daim were behind the whole thing.

And, meanwhile, Najib is in court to face trial for RM42 million.