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Government involved money losses

  • RM240 million government letter of support-backed bond issued by Malaysian International Tuna Port Sdn Bhd (MITP), which defaulted late last year [[1]]

Other old spending:

  • The Bank Bumiputra twin scandals in the early 1980s saw US$1 billion (RM3.2 billion in 2008 ringgit)
  • The Maminco attempt to corner the world tin market in the 1980s is believed to have cost some US$500 million. (RM1.6 billion)
  • Betting in foreign exchange futures cost Bank Negara Malaysia RM30 billion in the 1990s.
  • Perwaja Steel resulted in losses of US$800 million (RM2.56 billion). Eric Chia, was charged with corruption for allegedly steering US$20 million (RM64 million) to a Hong Kong-based company
  • Use of RM10 billion public funds in the Valuecap Sdn. Bhd. operation to shore up the stock market
  • Banking scandal of RM700 million losses in Bank Islam
  • Wang Ehsan from oil royalty on Terengganu RM7.4 billion from 2004 – 2007. projek-projek lain yang dikendalikan dengan wang royalti seperti acara tahunan Piala Monsun, Masjid Kristal dan Taman Tamadun Islam. http://www.harakahdaily.net/index.php?option=com_content&task=view&id=18834&Itemid=59
  • For the past 10 years since Philharmonic Orchestra was established, this orchestra has swallowed a total of RM500 million
  • In Advisors Fees, Mahathir was paid RM180,000, Shahrizat Abdul Jalil (women and social development affairs) RM404,726 and Abdul Hamid Othman (religious) RM549,675 per annum
  • The government has spent a total of RM3.2 billion in teaching Maths and Science in English over the past five years. Out of the amount, the government paid a whopping RM2.21 billion for the purchase of information and computer technology (ICT) equipments which it is unable to give a breakdown.
  • The commission paid for purchase of jets and submarines to two private companies Perimeker Sdn Bhd and IMT Defence Sdn Bhd amounted to RM910 million.
  • RM300 million to compensate Gerbang Perdana for the RM1.1 billion “Crooked Scenic Half-Bridge”
  • RM1.3 billion have been wasted building the white elephant Customs, Immigration and Quarantine (CIQ) facilities on cancellation of the Malaysia-Singapore scenic bridge
  • RM 100 million on renovation of Parliament building and leaks
  • National Astronaut Programme – RM 40 million
  • National Service Training Programme – yearly an estimate of RM 500 million
  • Eye on Malaysia – RM 30 million and another RM5.7 million of free ticket
  • RM 2.4 million on indelible ink
  • Samy announced in September 2006 that the government paid compensation amounting to RM 38.5 billion to the highway companies. RM 380 million windfalls for 9 toll concessionaires earned solely from the toll hike in 2008 alone.
  • RM32 million timber export kickbacks involving companies connected to Sarawak Chief Minister and his family.

Bailouts -

  • Two bailouts of Malaysia Airline System RM7.9 billion
  • Putra transport system, which cost RM4.486 billion
  • STAR-LRT bailout costing RM3.256 billion
  • National Sewerage System costing RM192.54 million
  • Seremban-Port Dickson Highway costing RM142 million
  • Kuching Prison costing RM135 million
  • Kajian Makanan dan Gunaan Orang Islam costing RM8.3 million.
  • Le Tour de Langkawi costing RM 3.5 Million
  • Wholesale distribution of tens of millions of shares in Bursa Malaysia under guise of NEP to cronies,children and relatives of BN leaders and Ministers worth billions of ringgits.
  • APs scandal had been going on year-after-year going back for more than three decades, involving a total mind-boggling sum of tens of billions of ringgits
  • Alienation of tens of thousands of hectares of commercial lands and forestry concessions to children and relatives of BN leaders and Ministers worth tens of billions of ringgits
  • Travel around Malaysia and see for yourself how many white elephants like majestic arches, roads paved with fanciful bricks, designer lamp posts, clock towers, Municipal Council buildings that looks more like Istanas, extravagant places of worship, refurbishment of residences of VIPs, abandoned or under-utilised government sports complexes and buildings, etc! Combined they could easily amount to the hundreds of billions of ringgits!
  • Wastages and forward trading of Petronas oil in the 1990s based on the low price of oil then. Since the accounts of Petronas are for the eyes of Prime Minister only, we have absolutely no idea of the amount. Whatever amount, you bet it is COLLOSSAL!
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