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THEY ARE STILL AFTER HIM!
Malaysiakini
6:42PM Mar 2, 2014
How Taib’s family could have hid their wealth
The family of Sarawak governor Abdul Taib Mahmud may have used a number of exempt private companies (EPCs) to hide their wealth from public scrutiny, according to the financial weekly The Edge Malaysia.
This is because EPCs are exempted from submitting its balance sheet when filing its annual returns to the Companies Commission of Malaysia (CCM).
Typically, according to the report, these EPCs linked to Taib’s family would invest in other companies, numbering at over 400 involving a wide range of industries.
“When the EPC receives dividends from its subsidiaries… the money trail disappears because EPCs are not required to file their financials.
“While there is nothing illegal in turning private companies into EPCs, a colony of them in Taib’s family empire indicates a downward shift in the financial transparency of directly owned companies,” according to the report.
The report is part of the weekly’s 11-page pull-out documenting Taib’s family businesses for its March 3 issue. A copy had been made available to subscribers in advance.
Taib was the chief minister of Sarawak for 33 years until his recent appointment as the state’s governor.
He had been accused of corruption and abuse of power, including leveraging on his position to enrich his family. Taib has consistently denied any wrongdoing.
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An example of such an EPC, the report says, is Daya Syukra Sdn Bhd, which is equally owned by each of Taib’s four children, Hanifah Taib-Alsree, Jamilah Hamidah Taib, Mahmud Abu Bekir Taib, and Sulaiman Abdul Rahman Abdul Taib.
http://www.malaysiakini.com/news/255843
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New allegations of Corruption against the new Governor of Sarawak, Abdul Taib Mahmud
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Malaysian Insider
Rights groups reveal documents alleging involvement of Taib, son in lucrative waste deal
Two international non-governmental organisations (NGOs) today revealed documents which showed the involvement of outgoing Sarawak Chief Minister Tan Sri Abdul Taib Mahmud (pic) and his son in a lucrative waste disposal agreement signed 15 years ago with a German firm.
The revelation, coming just two days before Taib is expected to take over as the Sarawak governor, contains more incriminating evidence of Taib’s alleged corruption and abuse of power, said the NGOs, Global Witness and The Centre to Combat Corruption and Cronyism (C4).
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Malaysiakini
6:24PM Feb 27, 2014
‘Don’t promote Taib till MACC clears him’
Anti-graft watchdog Centre to Combat Corruption and Cronyism (C4) has urged the government to delay making Abdul Taib Mahmud the Sarawak governor until the Malaysian Anti-Corruption Commission (MACC) clears him over a questionable deal.
C4’s directors have submitted a complaint to MACC today, based on allegations by NGO Global Witness that a company linked to Taib’s son Mahmud Abdul Bekir has been purportedly used as a conduit to receive up to RM6.6 million in commissions, for a waste disposal project involving a state government joint venture with a German firm.
“We believe that the MACC needs to investigate this case. There is significant public interest and we urge that the government to delay Taib’s ascent to governorship. We insist on this to ensure that the rights of Sarawakians are not compromised,” C4 director Cynthia Gabriel told reporters at press conference in Kuala Lumpur.
Taib’s eldest son Abdul Bekir and his estranged wife Shahnaz Abdul Majid are among the directors of Sarawak Capital.
Both signed the agreement with German company Trienekens GmbH which outlined the RM6.6 million payment.
The agreement between Sarawak Capital and Trienekens GmbH was questionable, Gabriel said, as it was signed after Trienekens also entered into a joint venture with the state government to establish Sarawak Waste Management Sdn Bhd to undertake an integrated waste management system project in 1998.
Abdul Bekir was also a witness to the Trienekens-Sarawak government deal, she said.
London law firm Mishcon de Reya, representing Taib and Abdul Bekir, was contacted by Global Witness to which they responded: “The particular contract that you appear to refer to was not executed in the terms that you imply”.
Said Gabriel (right): “Our question is, what was the role of Bekir when the Sarawak government signed that deal?”
But when asked if C4 expected MACC to act promptly, the newly-formed NGO said sadly, it did not, based on the former’s past record.
“The issue that we raise is what will happen with our report and I asked specifically, What are your performance indicators?” C4 director Ahmad Farouk, who was also at the press conference said.
“And the answer was there was no KPI. Does that mean that the report could be there for three months, three years, thirty years? Nobody knows. That’s very sad considering the government’s pledge to have a world class democracy.”
http://www.malaysiakini.com/news/255619
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