SPECIAL REPORT ON BENTA WAWASAN SDN BHD - Part 1
MALAYSIA TODAY
Introduction
How was one-time Sabah Chief Minister Osu Sukam able to gamble away a reported RM200 million at various casinos the world over?
How was current Sabah Chief Minister Musa Aman able to declare assets to the tune of RM300 million when he took over the reins of the state on 27 March 2003?
RM200 million, RM300 million, or more, in assets is ‘normal’ for those Sabah politicians who at one time or another held power in the state either as the Chief Minister, Finance Minister, or head of the Sabah Foundation (Yayasan Sabah) -- whether it be Tun Mohamad Fuad Stephens in 1963, Tun Datuk Mustafa Harun in 1967, Datuk Harris Mohamad Salleh in 1976, Joseph Pairin Kitingan in 1985, Tun Sakaran Dandai in 1994, Datuk Seri Salleh Said Keruak in 1995, Yong Teck Lee in 1996, Tun Sri Bernard Dompok in 1998, Datuk Osu Sukam in 1999, Datuk Chong Kah Kiat in 2001, or Datuk Seri Musa Aman, today.
In fact, RM200 million or RM300 million is not a big deal in Sabah. One who has ‘only’ that amount of money need not go round showing off, as no one would be impressed one bit. But if you have RM500 million or more, then it is something to shout about.
That is the extent of Sabah politicians’ wealth, and let me assure you NO ONE can claim exemption from this ‘rule’. And how do they make their money? Where does all their wealth come from?My late mother would always say, “Money does not grow on trees.” Well, in Sabah, money DOES grow on trees. But you have to first cut the trees down of course before you can turn them into money.
And they make their money by selling the logs to logging companies at way below market price, who then make a huge profit and pay ‘kickbacks’ to whomsoever happens to be the Chief Minister, Finance Minister, and/or head of the Sabah Foundation at that point of time.
The logs, which are sold to these loggers at RM50 per cubic meter, are worth RM300 per cubic meter on the open market. Imagine how much money can be made here!Malaysia is the largest exporter of tropical wood in the world, accounting for 70% of the world's supply of logs. Sabah and Sarawak are home to some of the oldest and most diverse rainforests in the world and supply most of Malaysia's exports of tropical logs.
Malaysia also supplies 80% of the world’s tropical sawn lumber and is the second largest tropical timber exporting nation in the world after Indonesia. From 1985 to 1993, the export earnings from the Malaysian timber sector increased from RM4.71 billion to around RM12.48 billion.So, just imagine how much money we are talking about here! And we must remember: they are selling the logs at only RM50 per cubic meter, which is only 16.7% of the market price of RM300. Therefore, the real value would be six times what the official figures show.And imagine how much ‘commission’ or kickbacks the Sabah politicians receive! Even if the kickback is RM50 per cubic meter, which will bring the log prices to RM100 per cubic meter, it is still very cheap when the market price is RM300 per cubic meter. And we are talking about billions of Ringgit here!It is not a secret amongst Sabahans that hundreds of millions of Ringgit change hands every year and the Sabah politicians and Chief Ministers through the ages make frequent trips to Hong Kong to receive their commissions in hard cash.
It comes as no surprise, therefore, that Sabah politicians, Osu Sukam in particular, can gamble away RM200 million in casinos the world over and still not feel the pinch. RM200 million is only a small portion of what they own. And this is no speculation. This is already public knowledge and well-documented in official court records in London and Sabah.
The powers-that-be in Sabah have been exploiting and mismanaging Sabah's rich timber resources for 40 years since the state gained its ‘independence’ by joining Malaysia in 1963. But what the Sabah leaders did over 40 years from 1963 to 2003 is rapidly being surpassed by the current Chief Minister, Musa Aman, who took over the reins of power just two years ago on 27 March 2003.
We shall review what Musa Aman has done to the state’s wealth in just the two years that he has been Chief Minister and how the state stands to lose billions of Ringgit more, as long as he remains in power.
Introduction
How was one-time Sabah Chief Minister Osu Sukam able to gamble away a reported RM200 million at various casinos the world over?
How was current Sabah Chief Minister Musa Aman able to declare assets to the tune of RM300 million when he took over the reins of the state on 27 March 2003?
RM200 million, RM300 million, or more, in assets is ‘normal’ for those Sabah politicians who at one time or another held power in the state either as the Chief Minister, Finance Minister, or head of the Sabah Foundation (Yayasan Sabah) -- whether it be Tun Mohamad Fuad Stephens in 1963, Tun Datuk Mustafa Harun in 1967, Datuk Harris Mohamad Salleh in 1976, Joseph Pairin Kitingan in 1985, Tun Sakaran Dandai in 1994, Datuk Seri Salleh Said Keruak in 1995, Yong Teck Lee in 1996, Tun Sri Bernard Dompok in 1998, Datuk Osu Sukam in 1999, Datuk Chong Kah Kiat in 2001, or Datuk Seri Musa Aman, today.
In fact, RM200 million or RM300 million is not a big deal in Sabah. One who has ‘only’ that amount of money need not go round showing off, as no one would be impressed one bit. But if you have RM500 million or more, then it is something to shout about.
That is the extent of Sabah politicians’ wealth, and let me assure you NO ONE can claim exemption from this ‘rule’. And how do they make their money? Where does all their wealth come from?My late mother would always say, “Money does not grow on trees.” Well, in Sabah, money DOES grow on trees. But you have to first cut the trees down of course before you can turn them into money.
And they make their money by selling the logs to logging companies at way below market price, who then make a huge profit and pay ‘kickbacks’ to whomsoever happens to be the Chief Minister, Finance Minister, and/or head of the Sabah Foundation at that point of time.
The logs, which are sold to these loggers at RM50 per cubic meter, are worth RM300 per cubic meter on the open market. Imagine how much money can be made here!Malaysia is the largest exporter of tropical wood in the world, accounting for 70% of the world's supply of logs. Sabah and Sarawak are home to some of the oldest and most diverse rainforests in the world and supply most of Malaysia's exports of tropical logs.
Malaysia also supplies 80% of the world’s tropical sawn lumber and is the second largest tropical timber exporting nation in the world after Indonesia. From 1985 to 1993, the export earnings from the Malaysian timber sector increased from RM4.71 billion to around RM12.48 billion.So, just imagine how much money we are talking about here! And we must remember: they are selling the logs at only RM50 per cubic meter, which is only 16.7% of the market price of RM300. Therefore, the real value would be six times what the official figures show.And imagine how much ‘commission’ or kickbacks the Sabah politicians receive! Even if the kickback is RM50 per cubic meter, which will bring the log prices to RM100 per cubic meter, it is still very cheap when the market price is RM300 per cubic meter. And we are talking about billions of Ringgit here!It is not a secret amongst Sabahans that hundreds of millions of Ringgit change hands every year and the Sabah politicians and Chief Ministers through the ages make frequent trips to Hong Kong to receive their commissions in hard cash.
It comes as no surprise, therefore, that Sabah politicians, Osu Sukam in particular, can gamble away RM200 million in casinos the world over and still not feel the pinch. RM200 million is only a small portion of what they own. And this is no speculation. This is already public knowledge and well-documented in official court records in London and Sabah.
The powers-that-be in Sabah have been exploiting and mismanaging Sabah's rich timber resources for 40 years since the state gained its ‘independence’ by joining Malaysia in 1963. But what the Sabah leaders did over 40 years from 1963 to 2003 is rapidly being surpassed by the current Chief Minister, Musa Aman, who took over the reins of power just two years ago on 27 March 2003.
We shall review what Musa Aman has done to the state’s wealth in just the two years that he has been Chief Minister and how the state stands to lose billions of Ringgit more, as long as he remains in power.
posted by Gundohing at
11:37 PM
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