Wednesday, December 19, 2012

Barisan Legacy: Malaysia Champion Of Dirty Money Outflow?

When Pm Najib claimed that the Barisan government had a proven track record, I couldn't agree more with him.

But the record I am talking of, is not a good one. After more than half a century of Barisan rule, Malaysia is going to the dogs. 

Not only are we perceived to be the world's most corrupt country to do business in, we are also apparently a champion when it comes to illicit funds outflow from the country

In fact, for the year 2010, we were the country with the second highest outflow of 'dirty money' according to a Global Financial Integrity (GFI) study, next only to China. In that year alone, the outflow of dirty money from Malaysia amounted to some 200 billion ringgit!

That's a dramatic jump from 93 billion ringgit in 2009! Is there some truth in the claim that as a possible change in government looms, those who have the most to be afraid of or lose are preparing for their flight?

The cumulative total illicit funds outflow from Malaysia for ten years from 2001-2010, came close to a trillion ringgit (US$285)! Overall, for the 10 years, we are ranked third after only China (US$2.74 trillion) and Mexico (US$476 billion)

Is that a record we can be proud of?

Pm Najib and his administration should explain how and why the situation obtains.

And what measures we are taking to tackle the problem.

No comments:

Post a Comment

Video Bar

Loading...

Kluang's Little Bangsar

Kluang's Little Bangsar
Click To Visit

Kamini's Indian Wedding - Click To Visit

Kamini's Indian Wedding - Click To Visit
I attended my neighbour's daughter's Indian wedding dinner at the Sentul HGH Convention Centre. Click for a peek

Yasmin Ahmad - Click To Visit

Yasmin Ahmad - Click To Visit
Yasmin Ahmad was arguably Malaysia's best story-teller, filmmaker and advertiser. She was well known for her Petronas commercials and had won numerous international awards including the Golden Lion award for the 'Tan Ming Hong In Love' commercial. Her feature film Sepet not only garnered her several international awards including for Best Asian Film but also drew multi-racial audiences that rarely happens for a local film.

Genting Highlands - Click To Visit

Genting Highlands - Click To Visit
Genting Highlands Is A Popular Retreat With A Casino

Batu Caves - Click To Visit

Batu Caves - Click To Visit
Malaysia's Famous Landmark. Note The Statue Of Lord Muruga And The 272 Steps To The Temple Cave In The Background

Petronas Twin Towers And KLCC Park - Click To Visit

Petronas Twin Towers And KLCC Park - Click To Visit
Petronas Twin Towers Are Still The World's Tallest Twin Towers

Some Early Morning Views Of KL City Skyline - Click To Visit

Some Early Morning Views Of KL City Skyline - Click To Visit
Some early morning views of the KL city sykline I took from the 3rd floor of the KL Court with a low-pixel hand-phone camera

Kluang Town - Click To Visit

Kluang Town - Click To Visit
Kluang was a sleepy hollow, but is fast becoming a bustling town. You can't miss the bust-shaped gunung Lambak lording over the place and the town is well known for its tv brand coffee powder

Kluang RailCoffee

Kluang RailCoffee
The Kluang railway station coffee shop, now re-branded Kluang RailCoffee, is well known for its cuppa of coffee and the charcaol grilled piping hot buns oozing with butter and kaya...It used to attract standing-room only crowds. It still does, but the last time I was there it wasn't a good experience for me. The famous coffee had somewhat lost its oomph and even the buns...The shop has a long and noted history being first opened for business in 1938 and the place is now run by the 3rd generation LIm family. I hope the next time I return, the coffee would regain its oomph. Click to read more...