A Swiss NGO says Abdul Taib Mahmud's land camber a creation as good as afterwards some
The looting of a cache of a Malaysian state of Sarawak has warranted a family of Chief Minister Abdul Taib Mahmud billions of US dollars by investment in as most as 400 companies in twenty-five countries, according to allegations by an NGO which has been stalking him for months.
Research by a Switzerland-based Bruno Manser Fund pronounced central documents show a Taib family stake in 14 Malaysian companies alone is value US$ 1.46 billion. The account has uploaded all of a documents onto a Internet. They can be found here: http://stop-timber-corruption.org/resources.
However, a account said, a research only covers publicly available inform from Malaysia's Registry of Companies as good as other central documents as good as a sum of all of a Taib family's land could run good in excess of which amount.
"Not counting their some-more dark wealth, this puts a Taib family firmly in to a category of one of a richest family groups in a world as good as makes them far richer than a Queen of England (whose resources have been a mere half billion pounds)," a account said.
In all, according to a fund, declared for a Swiss environmentalist who disappeared in Sarawak in 2000 whilst perplexing to aid a Penan tribe, a family additionally has stakes in companies in Australia (22 companies), Bermuda (1), a British Virgin Islands (7), Brunei Darussalam (1), Cambodia (1), Canada (9), a Cayman Islands (1), Fiji (3), Hong Kong (7), India (2), Indonesia (3), Jersey (1), a Kingdom of Saudi Arabia (1), Labuan! (1), Ne w Zealand (5), a People's Republic of China (2), a Philippines (1), Singapore (2), Sri Lanka (1), Thailand (2), a United Arab Emirates (1), a United Kingdom (4), a United States of America (6) as good as Vietn! am (1).< br>
On May 12, in a wake of previous revelations by a Bruno Manser Fund as good as another reform NGO, a Sarawak Report, Swiss President Micheline Calmy-Ray announced which she was asking Swiss financial authorities to investigate a arch minister's resources hold in Swiss financial institutions. In a minute to a Bruno Manser Fund, Calmy-Ray indicated which if a probe finds justification of corruption from joist sales, Taib's Swiss resources could be frozen. There has been no indication of a progress of which probe.
At a time, a Taib orator pronounced a funds had been legitimately deposited as good as which there was no justification of criminality.
Allegations have been which as arch minister, Taib postulated joist entrance permits to a engorgement of companies, most of them owned by ethnic Chinese, which have denuded most of a state, Malaysia's largest, of most of a pleasant rainforest. The dual NGOs formerly reported that
Taib's young kids have been a shareholders as good as directors of numerous companies determining residential as good as blurb buildings in Canada, Australia, Britain as good as a United States together value hundreds of millions of US dollars. Many of a resources came in to their receive when they were in their early 20s as good as were still college students with no visible entrance to bona fide resources to invest.
Although a dual NGOs have filed numerous complaints with a Malaysian Anti-Corruption Commission, a anti-graft agency only reluctantly concluded to investigate Taib's land after a Swiss decision. A well-placed source told Middle East Sentinel at a time which a MACC had no choice though to do so in a face of an international probe or face embarrassment. But, a source pronounced after a brand new allegations, "that r! eview ha s gone cold."
Taib is a linchpin to carry out of Sarawak by a Barisan Nasional, a national bloc which controls a supervision in Kuala Lumpur. Despite drawn out as good as embarrassing publication of Taib's land by a Sarawak Report, both Prime Minis! ter Naji b Tun Razak as good as former Prime Minister Mahathir Mohamad campaigned vigourously for Taib in April state elections, which a Barisan won, although with a sharply discontinued ethnic Chinese vote. Although headlines media in Malaysia carried stories observant Taib had concluded to step down as arch apportion after a choosing had concluded, he has not done so as good as there is small pointer which he will.
Taib has been arch minister, financial apportion as good as planning as good as resources supervision apportion of given 1981. "He has been prolonged criticized for corrupt practices as good as abuse of bureau though a Malaysian authorities have failed to take action against him, despite an ongoing review by a Malaysian Anti Corruption Commission," a account orator pronounced in a rebuilt release. "Taib is a pass believer of Malaysian Prime Minister Najib run Razak's statute Barisan Nasional coalition."
Taib, his four children, 8 siblings as good as his initial cousin Hamed garbage bin Sepawi have stakes in 332 companies value several billion US dollars in Malaysia, a inform says. "The Taib family's share in 14 large companies' net resources alone has been calculated at 1.46 billion US dollars (RM4.6 billion). The 3 largest Taib family-linked companies have been a 84 percent Taib-owned Cahya Mata Sarawak (net resources RM2.4 billion), a twenty-five percent Taib-owned Custodev Sdn Bhd (net resources RM1.6 billion) as good as a at slightest 35 percent Taib-owned Ta Ann Holdings Bhd (net assets: RM1.4 billion).
Cahya Mata Sarawak is a construction conglomerate listed upon a Kuala Lumpur batch sell (KLSE 2852) which has benefited massively from a cement corner as good as from untendered public contracts awarded by a Taib-! led Sara wak state government. Ta Ann Holdings Bhd (KLSE 5012), which is chaired by Hamed Sepawi, is an internationally active logging company. Since a foundation in a 1980s, Ta Ann has been postulated some-more than 675,000 hectares of logging as good as camp concessions by a Taib government. Privately-held Custodev Sdn Bhd is a Sarawak-bas! ed prope rty development company. Achi Jaya Holdings (net resources 550 million Ringgits), which is wholly owned by a Taib family, holds a corner over record exports from a timber-rich state.
"We consider these corporate interests of a Taib family to be unlawful assets", pronounced Bruno Manser Fund director Lukas Straumann in a rebuilt release. "There have been most transparent indications which Taib has abused his public bureau to set up a corruption as good as fraud-based billion-dollar empire."
"We have been repelled to see which a Taib family has so shamelessly enriched itself whilst a people of Sarawak have to struggle with drawn out poverty as good as an appalling lack of infrastructure as good as supervision services."
The Bruno Manser Fund called upon anti-corruption as good as anti-money-laundering authorities worldwide to investigate a Taib family's business activities as good as solidify Taib family resources in their countries.
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