The Two Evilest Twins

The two evilest twins twins that plague Malaysia are corruption and money-laudering. Over the past two decades or so, many politicians in high positions and those who closely associated with them have overnight amassed so much wealth that they became instant millionaires and billionaires. And, yet, the twins continue to impoverish the country through unconcionable plundering and laundering of the country resources in kind and cash.

Of late it has been reported in the blogs that during the past ten years no less than RM800 billions had been siphoned out illegally out of the country. These mammoth sum of money was obtained through corruption and blatant abuse of the country's revenue through over-priced purchases of arms, infrastructural projects, NEP and bail-out of GLCs.

Although we have in place the MACC in recent years, only 'ikan billis' had been booked and charged in the courts. The sharks have been spared. This state of affairs has certainly fueled public grouses and dissatisfaction. Added to the discriminatory socio-economic policies that tend to favour the 'Sons of the Soil' or bumiputras, the cry for justice, transparency and equality has never been more strident.

Recently the BMF reported that the CM of Sarawak has been abused his position by criminally enriching himself and inveseting in properties in various part of the four continents - Asia, United States/Canada, Europe and Australia. BMF have appealed to the various Governments of the World concerned to institute investigate the allegations and advise the banks in their respective countries to conduct enhanced dliligence on the deposited wealth of the CM of Sarawak, noted for his lavish spending and expensive life-style. How did he amass such richness basing on his annual salary income. Where and how did that unexplained wealth come about?

The unexplained wealth must be confiscated and returned to the country wherefrom the money emanated. It should be used for improving social welfare of the masses and developing local literacy and skills to compete with the global markets.

Ever since the first NEP was mooted, the non-Malays had and have been deprived of many of the social services. They could not do the courses they desired in the local universities, deprived of scholarships, discriminated in areas of employment in the civil service, the armed, police and para-military services. Many Malays who obtained educational loans for tertiary courses but failed to service the loans upon their completion of their programmes. Meanwhile, the Government attempted to create a class of entrepreneurs among the Malays through setting up GLCs headed by croniesand unqualified and inexperienced Malays.

Year after year, these companies failed to perform, they sustained huge losses but regrettably they were bailed out by the BN Government or had fresh funds injected thereinto to keep them afloat.

Trying business is not as easy as one thinks. In fact it is more trying than one can imagine. To succeed in business, the 'runners' must have the necessary motivation. The only way to derive motivation is to do business with one's capital, without which, very few businesses can really succeed. Besides, one needs not only money but also industry, necesary business experience, perserverence and a degree of frustration tolerance.

As the situation goes, many companies have been formed or incorporated but they had been utilised as money conduits; through which, million of ringgits had been channeled out 'illicitly' to tax haven countries.

Crimes such as the evil twins do not pay. Countries that are corrupt tend to attract criminals into the country which in turn create a bad name and reputation to that country. When this happens, foreign investors tend to lose confidence to invest therein.

It is timely that the Government of the day be serious about enforcing anti-money laundering policies with those of the FATF and 9 guidelines in combating money and terrorist financing.

The people at large have to be helped to get jobs and a reasonal survival. If these social conditions persist, there is a likelihood that the masses may revolt one daytunisia, to overturn the Government through peoples' power like what is happening in Egypt,