A royal commission of inquiry into RM1.2 trillion illicit capital outflow scandal

For the past week, there has been a total silence from Najib Tun Razak as the finance minister regarding the report from GFI that a total of RM1.2 trillion of illicit capital fled Malaysia from 2002 – 2011.

Instead, Najib has decided to let his political minion, Paul Low to address the illicit capital outflow problem by blaming trade mispricing and ridiculing the report from GFI, taking all the arrows for Najib.

Sensing that it might not be enough, Najib also used Bank Negara Malaysia(BNM) as a political tool to issue a statement that GST will solve Malaysia’s illicit capital outflow. Najib might have thought he killed two birds in one stone in the BNM statement. In fact, he committed a double blunder in the statement. Not only Malaysians are not convinced by BNM propaganda, Malaysians realize that this political madness of taking more money from the rakyat for corruption must stop.

There is no doubt Malaysia is “world champion in illicit capital outflow” if calculated on a per capita basis. This notorious, shameful and humiliating honour also justifies Malaysia as the “world champion in corruption” as reported by Wall Street Journal last December.

This double dishonorable, disgraceful and degrading honour (4d honour) has never been achieved by Malaysia previous five Prime Ministers, only to make possible by Malaysia’s worst Prime Minister Najib Tun Razak signaling the endless possibilities of what Malaysia could achieve under Najib’s administration

Every Malaysian, regardless of age, gender, race and religion had lost a total of RM41,000 to illicit capital outflow for the past ten years. This is an alarming and horrendous situation that needs to be address immediately.

The RM41,000 if redistributed to all Malaysians is equal to 82 times of the BR1M distributed by the Barisan Nasional and will help ease ordinary Malaysians hardship especially in a time of rising cost of living. Not to forget that the BR1M is allocated to each household and the RM41,000 could be allocated to every Malaysians.

I urge Najib to immediately establish a royal commission of inquiry to get to the bottom of the RM1.2 trillion illicit capital outflow scandal. This would also give Putrajaya a chance to clear its name for dubbing the RM1.2 trillion illicit capital outflow as overstated and blaming trade mispricing for this astronomical amount.

I believe Najib would be more than happy to clear Malaysia’s name as world champion of illicit capital outflow and agree to the establishment of a royal commission.

Media Statement by Chong Zhemin, DAP Perak Economic Development Bureau Chief and Political Secretary to Taiping MP on 19th Dec 2013

 

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