Very Sexy House Music New Year 2014 Mix!

Syn Cole – Miami 82 (Vocal Mix) ft. Madame Buttons

India Arie – Just Do You (Gregor Salto Extended Mix)

Panik Pop & Joseph Westphal feat. NUSJA – Raum & Zeit (Solee Remix)
Love this German song. Don’t know what she was singing.

Lyrics go;
Wenn jedes einzelne Haar sich zum HImmel streckt, dann hast du mich angesteckt.
Wenn meine Füße glauben sie schweben aber stehn, dann will ich niemald weg von hier gehn.
Ich flieg durch Raum und Zeit. Meine Gänsehaut ist mein Federkleid.
Die Gelegenheit du hast mich befreit!

If only ladies who speaks German have voices that sexy like this vocalist.

Dan Caster & Bjoern Stoerig – Go With the Flow

Husky feat. Andrea Love – Just Dance

Yuriy Poleg feat. Julia Lasker – I Know (Original Mix)

Rocco feat. Kafele – Dream Cloud

Advertisements

EXPOSED! ROSMAH’S SON buys RM110 MIL condo, funds ‘X-rated’ Leonardo di Caprio movie

The wife of the PM, Rosmah Mansor, is apparently advocating that every Malaysian school child should be shown the newly released Leonardo di Caprio film, The Wolf of Wall Street, in order to warn them against greed and immorality.

One wonders how she proposes to get around the fact that the film has been X-rated owing to the violence and sex scenes, which extend to drug taking and mass orgies?
The makers of the film reportedly tempted director Martin Scorcese onto the project by allowing him a free hand to make the movie as hard core as he liked, thereby limiting audiences in America to over 17 unless accompanied by a suitable adult:

“In 2007, Leonardo DiCaprio won a bidding war against Brad Pitt for the rights to Jordan Belfort’s memoir The Wolf of Wall Street, which followed the downward spiral (and eventual jailing) of one of the Street’s brightest stars as he got hooked on drugs and prostitutes — while the FBI nipped at his heels. “It was almost like a modern-day Caligula,” says DiCaprio, who stars as Belfort” [Hollywood Reporter]

There is also the question of cost.

In some schools in Sarawak children sleep side by side on the floor under leaking roofs, owing to cash restraints.

Yet mass screenings of a top new movie would presumably involve paying out scarce funds to the production company.

Perhaps the powerful wife of the PM figures that at least the production company is Malaysian owned, so that the public money would be supporting a local enterprise?

More specifically, the production company behind The Wolf on Wall Street, Red Granite Pictures, is headed and financed by her own son Riza Aziz (Riza Shahriz Bin Abdul Aziz), a fact that was till now unbeknown to most Malaysians.

Red Granite was founded by Aziz in 2010 and has already bankrolled a number of big name projects, including ‘Friends With Kids’ and ‘Dumb and Dumber To ‘, as well as The Wolf of Wall Street, which had been dropped by mainstream studios.

In the case of The Wolf of Wall Street the reasons for dropping the movie was its disgusting content – Scorcese was heckled at a recent Academy showing, according to reports, with the words “shame on you“!

Where did the money come from?

How Riza Aziz emerged as a major bankroller of Hollywood movies is of obvious interest. Could it be linked to his family position and circle of associates?

It has already been noted that Najib Razak’s step-son, is a close associate of the controversial and flamboyant financier Jho Low (Low Taek Jho) a Penang business graduate educated in the UK and US, who has acted as the front man in a number of eyebrow-raising business deals linked both to Taib Mahmud in Sarawak and Najib’s pet project the 1 Malaysia Development Berhad.

Indeed, Jho Low’s series of notorious antics, distributing Crystal Champagne around the world’s top nightclubs and lavishing vast sums on famous women like Paris Hilton and Taiwanese pop star Elva Hsiao, suggest a remarkably similar animal to the character supposedly deplored in the film, the jailed Wall Street financier Jordan Belfort (although Sarawak Report would not wish to imply that any of the misconduct depicted in the film applies to Mr Low).

Low was prominent at the launch party for the film, posing next to Riza Aziz and his partner in Red Granite Pictures, the Kentuky ‘private equity cowboy’, Joey Mcfarland, on stage at the event, which will further fuel speculation over possible links.

Mega Finance linked to Malaysia

The Hollywood coverage of the fast trajectory of Red Granite Pictures from nowhere in 2010 to a “top company to watch” in just three years has made no bones about the supposedly deep pockets of Riza Aziz, widely described as the ‘son of the Malaysian Prime Minister’.

This was how the New York Magazine’s ‘Vulture’ section put it back in 2012:

“For days now, talent agencies have buzzed with the news that Leonardo DiCaprio might be finally committing to star in The Wolf of Wall Street for director Martin Scorsese, a project that was first reported exclusively by Vulture almost a year ago today. Then, earlier this morning, Deadline carried the news that the funding had at last been locked into place, courtesy of Wall Street big-shots themselves: Riza Aziz, a former HSBC investment banker from London, and Joey McFarland, a private equity cowboy from Kentucky. Their Red Granite Pictures will be fully financing the feature adaptation of Jordan Belfort’s memoir of his boozy, debauchery-rich journey to multimillionaire in the Reagan eighties to federal convict..”[Vulture 3/15/12]

The Hollywood Reporter described Red Granite Picture’s launch party in Cannes as “one of the hottest parties in years”, describing the up-coming Wolf of Wall Street as a $100 million dollar film. They boast a rare interview with Aziz, which for Malaysians provides some fascinating information:

Sarawak Report suggests that the above remarks by Najib’s step-son imply strongly that his money is family money and that he is to an extent accountable to his ‘father’ the Prime Minister, who gives him ‘leeway’.

If Malaysia was blessed with a free media this would be enough to provoke a barrage of questions as to exactly how the son of Rosmah Mansor has acquired these hundreds of millions of dollars to flush through major Hollywood movies?

Because, if the money is Najib’s, how did the PM get to be so rich?

This is unlikely to be a comfortable subject for the Malaysian BN leader, who is heavily caught up in the Scorpene Submarine kickback scandal that is soon due to appear in a French court over the payments of €119million to a Malaysian company run by his personal negotiator on the deal, Razak Baginda.

Alternatively, there is a lot of reference in the Hollywood Press to Mr Aziz’s own personal fortune, allegedly made as an investment banker in the UK. This is how Riza Aziz described his money-making career as an investment banker to the Hollywood Reporter:

THR: Riza, you come from a political dynasty. How did you get from Malaysia to Hollywood?

Aziz: My background is in finance and I was in London for close to 10 years. I took a sabbatical from all the chaos that was happening in 2008 and decided to travel the world. I came to the U.S. and was offered the opportunity to get involved in a lot of different things business-wise, and one of them was to be involved in a film with some friends. From that one project, more kept coming in, so we decided to have a company. We began building the team and I brought Joey in at an early stage.

So could Aziz have made the money himself?

Sarawak Report has researched Riza Aziz’s banking career after leaving the London School of Economics in the year 2000. It appears that he worked with the management consultants KPMG for two years till 2002 and then at HSBC London from 2005 until the financial crash in 2008:

According to the Financial Services Authority, Riza Aziz was employed in a relatively minor role at HSBC for five years, although Aziz himself says he resigned in 2008. It is a perfectly respectable CV, but for a man who didn’t inherit family money from his mother or father (who worked as a bureaucrat) his ‘investment banking career’ does not explain the source of his finances.

Yet flush with cash the young Malaysian most undoubtedly now is, raising comment even in the capitalists’ capital of New York, where he recently bought a flash 7 bedroom home for $33.5 million in a smart zone of town.

Reports on the purchase once again refer to the unconvincing ‘investment banker’ explanation for Aziz’s money:

“Aziz, who reportedly makes his money as an investment banker, has been pegged as a producer to watch. He is one of a new generation of film financiers making their mark in Hollywood, according to a recent story in Variety.” [The Real Deal]

Mystery Malaysian investment – the Jho Low connection?

However, other Hollywood newspapers speak of a separate form of income entirely, in the form of third party investors.

For example, The Los Angeles Times refers to “undisclosed investors in the Middle East and Asia”.

If so, these investors are mighty trusting.

Red Granite Picture’s business model is one that may very well bring success, if it bets on the right movies. However, it clearly demands an ability to be able to risk enormous sums of money up-front.

The LA Times repeats the narrative that Red Pictures buys up promising production projects that other studios have dropped, because they have become too fraught and dangerous:

“Where movie studios see trouble, Red Granite Pictures sees opportunities”, the paper says. It continues:

“The new finance and distribution company’s business plan is both contrary and simple: Make the films the studios don’t.

Among its first projects are Martin Scorsese’s “The Wolf of Wall Street,” which comes out Wednesday, and next year’s “Dumb and Dumber To,” the intentionally misspelled sequel to the 1994 comedy.

On the surface, those pictures don’t exactly seem like the sort that a major studio would cast aside.

But both were complicated projects, fraught with thorny issues. Red Granite’s founders, Riza Aziz and Joey McFarland, said they thrive in these sorts of scenarios.

“One of our sweet spots is movies that have died in the studios — movies that are just great product that everyone was hot on but for some reason or another just didn’t make it to the greenlight stage,” said McFarland,41, a Louisville, Ky., native who is Red Granite’s vice chairman. [Los Angeles Times 24/12/13]

It all gives the impression of young men with breath-taking self-confidence and more importantly money to burn. Co-producer Joey McFarland has confirmed that the money comes not thanks to him, but Riza Aziz.

The recent LA Times article continues:

“Every movie is different,” said Aziz, 37, who is the son of Malaysian Prime Minister Najib Razak. “We are very flexible in the model we [can] pursue.”

Red Granite raises money from a pool of undisclosed investors in the Middle East and Asia, and finances its movies on a one-off basis. The company is able to greenlight a picture without a distribution deal in place. But because it doesn’t have a fund it can tap, Red Granite must convince its investors that an individual project is worth the risk, rather than having the comfort of money to underwrite an entire slate.”

It is surely interesting for Malaysians to know that the PM’s step-son has such access to enormous funds for such enormous risks. There is talk in KL that a number of Malaysian companies are among those who have been encouraged to put money into Wolf of Wall Street. One can only speculate as to why they might have felt encouraged to do so.

Meanwhile, it also seems valid to ask whether the peculiar financial background of Aziz and Rosmah’s close friend, the 28 year old Jho Low (described as a “billionaire” in a number of American news reports), be linked to this financial muscle?

The flamboyant financier’s own interest in the movies and friendship with Di Caprio certainly pre-dates Red Granite Pictures.

Back in 2009 The Star Newspaper reported:

“He [Low] has been trying to convince his Hollywood friends like Academy Award winner Jamie Foxx and Leonardo di Caprio to use Malaysia as a location for movies.”[Star

In which case was it the connection with Low that brought his friend Leonardo di Caprio and his film project about a ‘modern day Caligula’ to Red Granite Pictures and Riza Aziz?

If so, it throws a new perspective onto Jho Low’s links with Najib Razak’s pet project 1MDB Malaysia, the development bank, which has raised billions through undisclosed, private bonds arranged by, amongst others, Goldman Sachs.

1MDB’s investments have been increasingly controversial, focusing mainly on buying up ageing power companies, which appear to be of questionable value in developing the state of Malaysia.

One of the investors involved in 1MDB is the low profile Middle Eastern venture Petro-Saudi, who were also the buyers when the Taib family sold out of their controversial stake in UBG bank back in 2011.

Jho Low himself had earlier become involved in UBG, coming onto the board as a Director in 2008 after a major share purchase, on behalf of the Abu Dhabi owned company Majestic Masterpiece.

The young Penang born financier makes much of his fantastic connections, both in Hollywood and the Middle East (particularly Abu Dhabi), allegedly made through networking as a Harrow schoolboy and at Wharton Business School in the US.

But it is his ostentatious high living that has mainly brought Jho Low to the attention of the Malaysian public. It was he who apparently topped the record for high spending in a New York nightclub, buying champagne for all the assembled guests.

Jho Low also astonished onlookers with the sheer lavishness of a party put on for a girlfriend on a yacht in Taiwan and again drew attention when he partied Paris Hilton with jaw dropping extravagance.

So, could Jho Low be the organiser assisting in the financing of Red Granite Pictures and is that why he was so prominent at the launch and at Leonardo di Caprio’s recent birthday bash?

In which case, many may wonder if the link to the top political players in Malaysia and friendship with the PM’s step-son might account for Jho Low’s easy access to investment income or indeed if he is the front man for others?

Court action

Meanwhile, it is not all praise from the Hollywood establishment. One major production company, Motion Picture Corporation of America (MPCA), is suing Red Granite Pictures for a breach of covenant over the other major movie it has ‘bought out of trouble’, the sequel to the popular 90s comedy Dumb and Dumber.

The on-going case has been widely covered in the media and MPCA is far from complimentary about the skills and know-how of the brash newcomers who bought up their original idea:

In their legal deposition the veteran producers Steve Stabler and Brad Krevoy who own MPCA have harsh words for Aziz and Mcfarland, who they say owe them hundreds of thousands for the original work on the film:

“McFarland and [Aziz] lack the experience necessary to successfully produce motion pictures themselves. Although Red Granite apparently has family money from [Aziz], Red Granite will not succeed with money alone because McFarland and [Aziz]‘s experience producing motion pictures during their short tenure in the industry consists of cavorting at nightclubs with Paris Hilton and making dinner reservations at posh nightclubs in New York and Los Angeles.” [Legal deposition against Red Granite Pictures]

It is an attack that strengthens the apparent links with Jho Low. Malaysians will be interested to see that the very parties attended by Jho Low appear to have also been linked to Riza Aziz, according to this deposition.

Surely, in the name of accountability and transparency Malaysians are due a clear explanation as to the links between the two men and whether Najib Razak is involved?

This is not least because of the large and controversial public loans that have been raised on behalf of Najib (who is also Finance Minister) and his 1MDB development bank, in which Jho Low is so widely reported to have been involved.

Glamourising greed?

It remains to finally point out that not everyone is likely to interpret the film as a moral lesson, in the manner apparently suggested by Rosmah Mansor.

In fact, Wolf of Wall Street is likely to be a success for the very reason that it glamourises greed, high spending, ostentation and extreme debauchery.

People will be flocking to watch Leonardo di Caprio making billions in corrupt deals and indulging in immoral behaviour, not to be taught the evils of big money but to escape into a make-believe world of unlimited wealth.

Films like this, it is widely argued, do not bring a Christmas message. To the contrary they are corrupting and they encourage more people to try their luck in the world of unscrupulous finance.

This is how the magazine GQ sums up the project:

“When Wall Street came out in 1987, it famously inspired certain people to go into banking, despite its deplorable subject matter. With that in mind, the impressionable might want to stay away from Martin Scorsese’s The Wolf Of Wall Street: from the trailer alone, there’s enough ostentatious displays of wealth to drive another financial crisis. Strippers, dwarves, Ferraris, Jags, $26,000 meals (“it was the sides”) and enough money to throw off yachts and still have plenty spare.

The performances also look incredible, with Jonah Hill particularly eye-catching as Leonardo DiCaprio’s naïve assistant. Consider next year’s Oscar race well underway.”

Quite so. As the box office profits roll in for this production, based on greed and immorality, Red Granite Pictures will stand charged of exploiting and glamourising greed, not confronting it.

Given that ill-gotten wealth, ostentatious living and mysterious business links underpin so much of Malaysia’s ruling BN regime, it certainly all adds up as a suitable topic for Red Granite’s first major foray into the film business.

Although, that irony is doubtless entirely lost on the famously extravagant Rosmah Mansor.

Sourced from http://www.sarawakreport.org/2013/12/wall-street-greed-malaysian-money-expose/

A Sense Of Injustice by NH Chan [Former Judge in Malaysia]

The two rules which make up the essentials of natural justice, and the reason why without natural justice any decision made by any judge is unjust, is because the aggrieved party’s constitutional right had been infringed.

This is how it was put in the well known case of Kanda v Government of Malaysia [1962] AC 322, PC, by Lord Denning:

“… The rule against bias is one thing. The right to be heard is another. Those two rules are the essential characteristics of what is called natural justice. They are the twin pillars supporting it. The Romans put them in the two maxims: Nemo judex in causa sua, and Audi alteram partem. They have recently been put in the two words, Impartiality and Fainess. But they are separate concepts and are governed by separate considerations. In the present case inspector Kanda complained of a breach of the second. He said that his constitutional right had been infringed. He had been dismissed without being given a reasonable hearing.”
I set out below the reasons – the ratio decidendi (in Latin) – for the dismissal of all the election petitions lodged by the opposition in Perak where in every case, without a single exception, either one or both of the twin pillars of natural justice were lacking. Those judges have exhibited an absence of impartiality or of fairness. In some cases even both impartiality and fairness were breached.

I shall start with the worst cases in Perak where the election judge hearing the case had acted against both principles of natural justice. Those judges had exhibited an absence of both impartiality and fairness. By such misbehaviour such judges have shown to our disgust that they were acting unjustly.

These election judges were the root of injustice in the administration of justice which in turn would lead the people to be highly suspicious of the incumbent government’s slim majority in the state assembly of Perak

Abdul Rahman Sebli J. was one of those recalcitrant judges. He heard the election petitions of the constituencies of Lubok Merbau 1 and 2, Selama and Tapah.

But first, I must refer to the Interpretation Acts 1948 and 1967 for the meaning of the words which are relevant to the present discussion. Section 4(3) of the Acts states:

“(3) Words and expressions in the singular include the plural, and words and expressions in the plural include the singular.”
With the above meaning of the words in mind, I can now refer to rule 9 of the Election Petition Rules 1954:

“9. With the petition the petitioner or petitioners shall leave at the office of the Registrar a writing signed by him or their advocate … , and … giving an address within Malaysia at which notices may be left. Every such writing shall be stamped with the duty payable thereon under the law for the time being in force.”
And rule 34:

“34. An advocate shall, immediately upon his appointment as such, leave written notice thereof at the office of the Registrar.”
The election judge in his written judgment, said:

“It is the respondents’ contention that the petition ought to be struck out in limine without going through a full trial as it was filed by a firm of advocates and solicitors … and not by an advocate as required by the Rules. Among the various authorities cited in support of the argument is my decision in Abdul Karim bin Abdul Rasid v Dato’ Siti Salmah binti Mat Sujak & 2 Ors [2013] 1 LNS 492. Since the factual matrix of the present case is identical with that of Abdul Karim bin Abdul Rasid, I see no reason to depart from my decision in that case.”
[LB: The decision in Abdul Karim bin Abdul Rasid from CLJ Online is here [PDF]: Abdul Karim Abdul Rasid – Lubok Merbau Election Petition]

The judge, according to him, was constrained to uphold the preliminary objection raised by the respondents and struck out the petition at the outset – for that is what in limine means in Latin – “on the ground of non compliance with rule 9 and rule 34 of the Election Petition Rules 1954“; these were the actual words used by the judge in his written judgment.

Ignoramuses

This judge must be completely ignorant of the law. In fact the other election judges who had heard the election petitions in Perak were just as ignorant because they had also given short shrift to all the election petitions they heard using the same reasons as this judge.

The Interpretation Acts 1948 and 1967, s. 4(3) says: “Words and expressions in the singular include the plural, and words and expressions in the plural include the singular“. That being the law, how then can anyone still say that rules 9 and 34 of the Election Petition Rules require a party in an election petition to be represented by a single advocate and solicitor only or by a firm of a single advocate and solicitor?

The petitioners’ only sin was to employ more than one lawyer to represent them. And for that they were all denied access to justice. The guarantee in Article 8(1) of our Constitution that “All persons are equal before the law and entitled to the equal protection of the law” was completely ignored by the judges. To such judges, those words in the Constitution were empty words.

Now that you have read this article you would know the law better than our ignorant judges, so that you can now judge the quality of all those judges who had heard the election petitions in Perak. How could it be, we may ask, that we are the only country, out of all the other common law countries, in the entire world that has so many incompetent judges? There must be something wrong in our system for the appointment of judges. There was a time when judges were appointed from the cream of the legal profession. Sadly those days were gone.

Conclusion

What can be done to stop all these unjust decisions being handed down by recalcitrant judges? The only way is to use the power of your vote to rid the country of the bad apples. If the opposition parties win the election in the next general election, all the unjust judges and their unjust decisions could be dealt with by a simple Act of Parliament. Lord Denning in his book Landmarks in the Law, Butterworths, London, 1984, pp 119-121, told us this story:

“Now in the Taff Vale case the railwaymen’s union called a strike at the railway station at Cardiff. The men left work and set up peaceful pickets so as to persuade others not to go to work. The trains could not run, and tbe company lost money. The railway were advised to bring an action against the union itself, seeking an injunction and damages. The Court of Appeal threw out the action. But the House of Lords, in a startling judgment, overruled the Court of Appeal. They issued an interlocutory injunction against the trade union itself, restraining it from setting up the pickets, and said that the railway company could recover damages which could be enforced against trade union funds. Later, at the trial itself, the damages were assessed at £23,000 and that sum was paid out of the funds of the trade union. £23,000 in 1900. What would that be now?
In the eyes of trade unions, that was an outrageous decision. It meant that the railway company could take all the funds subscribed by the members so as to meet the damages. It meant that, in future, a trade union could never call a strike, else it would be in peril of losing all its funds. It meant virtually the end of trade unions. …
That case had immense political consequences. At the general election of 1906 there came into being a new political party. It was the Labour party. They ran a host of candidates themselves. They pledged complete immunity for trade unions. Many of the Liberal candidates gave the same pledge. The result of the general election was like an earthquake. Liberals had 397 seats. The new Labour party had 50 seats. The Conservatives only 157. It was a sweeping victory for the trade unions.
Parliament immediately passed the Trade Disputes Act 1906. It is probably the most important Act ever put into the Satute Book. It reversed all the judicial decisions against trade unions. The Taff Vale case was overruled. No trade union could thereafter be sued for damages for any wrongs done by its members. Its funds were unassailable.”
We can do the same thing in this country. We can pass a law to right the wrongs committed by our errant judges. We could even have the exorbitant damages, if paid, returned to the affected election petitioners with interest plus damages for the pain that they had endured. But, before all these could take place, we must vote for the opposition to win the next general election. Let us put our shoulders to the task

– See more at: http://www.loyarburok.com/2013/12/16/sense-injustice/#sthash.d1wa0uzX.dpuf

Tensions Rise as Protestors Flood Kiev

World

Thousands of Ukranians backing President Viktor Yanukovich rallied Saturday in central Kiev, separated by only a barricade of riot police from a rival anti-government demonstration and raising concerns over a potential clash.

Opposition protests have gained international attention since protestors first took to the streets Nov. 21. Yanukovich sparked public outcry when he backed out of a long-proposed trade deal with the European Union under pressure from Russia.

The pro-Yanukovich demonstration swelled the capital’s Maidan square with people, as more anti-government activists descended on the designated opposition camp for a planned Sunday protest, Reuters reports.

U.S. Sen. John McCain also arrived Saturday to meet with and throw his support behind opposition leaders.

In what government critics say is an attempt to quell the protests, on Saturday Yanukovich dismissed the head of Kiev’s state administration and a national security aide for their involvement in a violent Nov. 30 clash. 

[

View original post 2 more words

People will pay the price for Najib’s inaction on billions siphoned out of country

Pakatan Rakyat lawmakers have hit out at Putrajaya for its failure to rein in illicit money outflow, with one demanding that Prime Minister Datuk Seri Najib Razak give up his Finance Minister’s post for his failure to stem the tide.

They also said the report by anti-graft watchdog Global Financial Integrity (GFI), which revealed that RM174 billion was siphoned out of the country in 2011, making Malaysia the fourth largest exporter of illicit capital that year after Russia, China and India, was justified given the country’s “exceptional performance as world champion of corruption”.

PKR strategic director and Pandan MP Rafizi Ramli (pic) said the GFI report confirmed their stand that there is close association between graft and illicit funds that flow out of the country.

He said the GFI report also validated the annual Auditor-General Report, which highlighted and proved that Malaysia has big incidences of graft.

“Najib’s stubborness in ignoring the findings of the reports will stagnate the country’s economy and will put further strain on the people.

“He should quit as Finance Minister because the large amount of illicit outflow is proof of his failure,” Rafizi charged.

DAP secretary-general Lim Guan Eng said sarcastically that there was no doubt that on a per capita basis, Malaysia won hands down as the “world champion of corruption”, validating the new title awarded by Transparency International and Wall Street Journal over the last one year.

The Bagan MP also hit out at the central bank for being incompetent and criminally negligent in stopping the illicit outflow of funds despite setting up a task force in 2010 to implement measures to stop the outflow of dirty money.

“Perhaps Malaysia should follow the British model of creating the world’s first central public registry of corporate beneficial ownership information to stop dirty money from going out of the country,” he suggested.

His party colleague Tony Pua agreed, adding that despite Bank Negara’s meek attempt to impose stricter regulations on money changers, including prosecuting some of them, the real culprits behind these illicit flows have not been arrested, charged or jailed.

“The most obvious known case would be the RM10 million illegal transfer by Negeri Sembilan Menteri Besar Datuk Seri Mohd Hassan to London, where Putrajaya has charged the money-changer but acquitted the MB,” said Pua, who is DAP national publicity chief.

The Petaling Jaya Utara MP added that the Barisan Nasional government has continued to be dismissive of the GFI report, with Najib hardly making a whimper over the scandal.

“These massive outflows are detrimental not only because the money will not be consumed and invested to grow the local economy, but more importantly it highlights the extent of unchecked corruption and illicit activities in Malaysia.

“There is clearly no political will to contain and eliminate these illicit outflows, and more importantly, to resolve the underlying illicit and illegal activities,” he hit out.

As such, Lim called on the BN government to address “this shameful title” by punishing those responsible for huge financial scandals in the country.

He listed the scandals involving RM52 billion worth of Bumiputera shares, which he alleged that ordinary Malays missed out on as the shares disappeared presumably to BN leaders; the RM14 billion Port Klang Free Trade Zone controversy; and the annual exposes of financial malpractices highlighted in the annual Auditor-General Report, involving some RM6.5 billion in 2012. – December 12, 2013.

Sourced from http://www.themalaysianinsider.com/malaysia/article/people-will-pay-the-price-for-najibs-inaction-on-billions-siphoned-out-of-c

Malaysia bled RM174 billion dirty money in 2011, says global anti-graft watchdog

About RM174 billion was illegally siphoned out of Malaysia in 2011, making the country the fourth largest exporter of illicit capital that year after Russia, China and India, said anti-graft watchdog Global Financial Integrity (GFI).

The Washington-based research and advocacy organisation said crime, corruption, and tax evasion drained US$946.7 billion (RM3.05 trillion) from the developing world in 2011, up more than 13.7% from 2010 – when illicit financial outflows totalled US$832.4 billion.

“As the world economy sputters along in the wake of the global financial crisis, the illicit underworld is thriving… siphoning more and more money from developing countries each year,” said GFI president Raymond Baker when releasing the “Illicit Financial Flows from Developing Countries: 2002-2011” report.

The findings in the study peg cumulative illicit financial outflows from developing countries at US$5.9 trillion between 2002 and 2011.

“Anonymous shell companies, tax haven secrecy, and trade-based money laundering techniques drained nearly a trillion dollars from the world’s poorest in 2011, at a time when rich and poor nations alike are struggling to spur economic growth.

“While global momentum has been building over the past year to curtail this problem, more must be done. This study should serve as a wake-up call to world leaders: the time to act is now,” said Baker.

Disputing the GFI figures, Bank Negara Malaysia (BNM) said the estimates of illicit outflow was overstated as the estimates in the report of trade mispricing had not been taken into consideration.

According to reports by Malaysiakini, BNM stressed that the GFI estimates were essentially unrecorded financial flows, which were not necessarily synonymous with illicit financial outflows.

GFI chief economist Dev Kar said they had taken all data into consideration and made the necessary adjustments before calculating the estimated illicit outflows.

“The estimates provided by our methodology are still very conservative. They do not include trade ‘misinvoicing’ in services, same invoice trade ‘misinvoicing’, ‘hawala’ transactions or bulk cash transactions.

“This means that much of the proceeds from drug trafficking, human smuggling and other criminal activities, which are often settled in cash, are not included in these estimates.”

GFI, however, commended BNM for setting up a task force in 2010 to plug the flow of illicit funds out of the country.

Kar said: “Such actions by the government conveys the message to the public that it is serious in addressing governance issues and will take action against corruption.”

The “Illicit Financial Flows from Developing Countries: 2002-2011” report is GFI’s 2013 update on the amount of money flowing out of developing economies as a result of crime, corruption and tax evasion. It is also the first GFI report to include data for the year 2011. – December 12, 2013.

1468716_684900318210077_109690719_n

Sourced from http://www.themalaysianinsider.com/malaysia/article/malaysia-bled-rm174-billion-dirty-money-in-2011-says-global-anti-graft-watc