YOURSAY | Worms coming out of Pandora Papers

YOURSAY | ‘Daim’s case is only a tip of the iceberg.’

How Daim, M'sia's uber-rich use S'pore to store money offshore

Daim rues M'kini's 'obsession' with him, says offshore trusts legit

Dr Raman Letchumanan: Malaysiakini, this Pandora Papers, a trove of documents obtained by the International Consortium of Investigative Journalists (ICIJ) made up of more than 11.9 million documents and other records from 14 offshore service providers that set up and manage shell companies and trusts in tax havens around the globe, is a gem of a revelation.

Politicians, from both sides, cannot be trusted. Just look at how quiet they are on their salary and perks. We need such revelations on our politicians.

To even think that former finance minister Daim Zainuddin was the main architect under Dr Mahathir Mohamad's rule, and even under Pakatan Harapan.

How caring could he have been for the plight of the ordinary citizens. I am sure Harapan knew all this, yet they kept quiet, and of course, many must have benefited from him. Let's see how many speak up now on this exposé.

As for Daim’s claim that Malaysiakini is ‘obsessed’ with him, I don't think the news portal is casting any aspersions. They are just reporting facts. You are bringing it on to yourself by making these accusations, Daim.

Would Daim offer his side of the story and tell us how hardworking and successful he is? We would like to know, in particular, if his political and government 'national service' had anything to do with his private business, and how much of his wealth he has sacrificed, especially for the bumiputera.

This issue is topical, now that the bumiputera share is only 17.2 percent after 50 years of the New Economic Policy (NEP). This issue was right up his sleeve as finance minister and key economic adviser to the government for over two decades.

How come you have so much wealth all over the world, but the ordinary Malays who depended on your policies are mired in poverty? Do your policies only work for you and your cronies and not the ordinary Malays?

Malaysiakini is doing a national service by digging up all the wealth of those who benefited from the NEP. All of you can do community service by self-declaring the wealth held overseas and through nominees.

BlueKucing3215: Well, there are several reasons why these Malaysian politicians create offshore accounts. To evade taxation is perhaps the least important reason.

The main reason is to hide the money trail, establish anonymity and evade scrutiny. Most difficult questions for them - where and how do you derive this large sum of money?

There’s nothing illegal with creating offshore accounts but the sources of money may not be legal.

Jaycee: Well, Daim’s case is only the tip of the iceberg. I’m very sure that there are many more names of other ministers together with their children and wives on that list.

That is why Malaysia will forever be a “developing country” as the people in the corridors of power are not quite done yet.

There is still so much to “loot and steal” and that is the reason why they are fighting tooth and nail to cling to their positions even though they have been holding these positions for decades.

There is no shame or remorse for these politicians. When caught, they know that they will be freed of all the charges as there are many minions in important positions who are in cahoots with them.

Thanks to them, Malaysia is heading towards a fail state.

BobbyO: Indeed, billions or even trillions of Malaysian money are stashed away overseas in either bonds, cash, assets or shares. The answer is simple. If they are legit, why not use the normal banking system?

Why hide under these dubious accounts? Why send them overseas and make other nations richer? Why not help your own motherland? Why not make this nation great?

Look at the exchange rates. When the nation started from the late 50s, we were at par or even above par of many nations. Look at where we stand today. 

How patriotic are you, Daim? If this nation is your source to acquiring such wealth, then it should be your duty to be grateful to it by investing in it.

Unless you have lost faith in it like your friends and cronies. As they say, if all the wealth is audited, there will be many more Malay billionaires exposed.

Ocean Master: Singapore's ability to create clean narratives in the space of money laundering is amazing. The 1MDB is the case in point. Money talks extremely well over there, but please don't call it money laundering.

Rich Malays, poor Malays; that is exactly the "Malay Dilemma". Malay leaders continue to brand the race as poor, economically poorly represented in Malaysia, and that non-Malays are taking their opportunities.

It is, therefore, to the benefit of many of the rich Malays to keep the poor Malays distracted with 3R (race, religion and royalty) issues. What a fantastic strategy. If you want to be super rich around here, backstab your own race.

Sinan Belawan: So, what has been the impact of these exposés?

In 2018, the Bruno Manser Fund (BMF) was willing to share with the Malaysian government the results of a seven-year evidence-gathering process on allegedly corrupt practices by Sarawak’s former chief minister and current governor Abdul Taib Mahmud.

Its former executive director, Lukas Straumann, had said that they were happy that Mahathir, who was the prime minister then, was willing to look into Taib’s corruption again and were hoping that the MACC and the Attorney-General’s Chambers would soon be reopening his case.

So, what is stopping the MACC from taking action against the wealthy and powerful?

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