Malaysia drops seven spots in anti-graft ladder

Source: The Malaysian Insight

Transparency International-Malaysia chairman Akhbar Satar says Malaysia’s ranking is likely to fall in the next few years until major corruption scandals are resolved. – The Malaysian Insight pic by Kamal Ariffin, February 22, 2018.

FAILURE to resolve major corruption scandals, like 1Malaysia Development Bhd (1MDB), Tabung Haji and Felda, is one of the main reasons Malaysia’s ranking fell in a global corruption index, an international anti-graft group said today.

“These scandals affected our score,” said Transparency International-Malaysia (TI-M) chairman Akhbar Satar at the launch of the Corruption Perceptions Index in Kuala Lumpur this morning.

Until these scandals are resolved satisfactorily, Akhbar said, Malaysia’s ranking is likely to further fall in the next few years.

Malaysia fell to No. 62 in the index last year, down seven spots from 2016, marking its lowest position since the index began in 1995.

The CPI ranks 180 countries by perceived levels of public sector corruption, according experts and business people. It uses a scale of 0 to 100, where 0 is highly corrupt and 100 is very clean.

Malaysia, since its 2014 score of 52, has been dropping every year, passing the halfway point in 2016 (49) and reaching 47 in 2017.

“We are at the same spot as Cuba. We should be better than them,” said Akhbar. Read more

No more politicians in GLCs, MACC board tells Putrajaya

Source: The Malay Mail Online

Chairman of Anti-Corruption Advisory Board Tunku Abdul Aziz Tunku Ibrahim advises Putrajaya against appointing politicians to head government-linked companies. — Picture by Yusof Mat Isa

KUALA LUMPUR, June 9 ― The Malaysian Anti-Corruption Commission (MACC) advisory board advised the government today against appointing politicians to head government-linked companies (GLCs), amid the crisis in Felda Global Ventures (FGV).

The board reasoned that most politicians bring their political habits along to the business they are handling, which it said results in unscrupulous practices when they run the business.

“The Advisory Board wishes to express in the strongest possible terms its concern about the government’s long-held practice of appointing party politicians as chairmen of GLCs.

“In every instance, they have fallen well below the ethical standards we have come to expect from those in positions of trust,” chairman Tunku Abdul Aziz Tunku Ibrahim said in a statement today. Read more

Felda chairman says RM4.3b not missing after all

Source: The Malay Mail Online

The Felda logo is seen at its headquarters in Kuala Lumpur, December 28, 2016. — Picture by Yusof Mat Isa

The Felda logo is seen at its headquarters in Kuala Lumpur, December 28, 2016. — Picture by Yusof Mat Isa

JOHOR BARU, Feb 12 — Felda chairman Tan Sri Shahrir Abdul Samad today clarified that the agency had not lost RM4.3 billion as reported.

The Johor Baru Member of Parliament said he has a list of how the RM4.3 billion was utilised, namely for long term investment, both here and abroad.

“No money is lost. From the RM6 billion received when Felda Global Ventures Holdings Bhd was listed, we spent RM1.7 billion for Felda settlers to pay each family RM15,000.

“The balance of RM4.3 billion was used for various reasons. Felda made one off payments to the governments of Sabah (RM300 million), Pahang RM250 million, housing loan for Felda settlers RM400 million, management expenses RM883 million plus investments in property, both here and foreign countries, to buy shares and many others,” he said.

Shahrir was commenting on reports in a number of news portals that claimed RM6 billion received by Felda after the FGVH listing has not been accounted for. Read more

[Updated] Felda chairman: Where did RM4.3b from listing go?

Source: The Malay Mail Online

HAKAM comment: There is an update to this article: Felda chairman says RM4.3b not missing after all [12 Feb 2017]

KUALA LUMPUR, Feb 12 — RM4.3 billion of the RM6 billion Felda earned from the listing of Felda Global Ventures Holdings Bhd (FGVH) is unaccounted for, said Tan Sri Shahrir Abdul Samad.

The Felda logo is seen at its headquarters in Kuala Lumpur, December 28, 2016. — Picture by Yusof Mat Isa

The Felda logo is seen at its headquarters in Kuala Lumpur, December 28, 2016. — Picture by Yusof Mat Isa

In a report by Malay daily Sinar Harian, the Felda chairman said his agency received the amount as dividends from FGVH’s initial public offering (IPO) in 2012, but the missing billions has caused frustrations among Felda settlers.

“Felda received RM6 billion from the listing of FGVH which is Felda’s business asset. From that amount, we have spent RM1.7 billion as windfall,” Shahrir was quoted saying yesterday.

Shahrir said Felda awarded settlers and their families RM15,000 for each household, leaving behind a balance of RM4.3 billion.

“So where did this RM4.3 billion go? I think this has frustrated settlers who are very close to Felda … who admire the role of Felda … I think they have been disappointed,” Shahrir said.

In 2012, FGVH raised US$3.1 billion (RM10 billion) in Asia’s biggest IPO that year, with its stock selling for RM4.55 each.

Felda owns 21.25 per cent of FGVH.

Shahrir’s remark came as the Malaysian Anti-Corruption Commission (MACC) detained five people, three serving and two former staff of the Federal Land Development Authority last month, on suspicion of corruption relating to a sturgeon farming project worth RM146.25 million. Read more