Minister in the Prime Minister Department, Paul Low blames trade mispricing for the RM174 billion siphoned out illegally in 2011. This is not only an untruthful attempt to twist the facts but also a desperate attempt cover up the rampant corruption under Barisan Nasional rule.
Global Financial Integrity (GFI) has stated clearly in their annual report this year that they have adjusted for the ‘Hong Kong effect’ in estimating trade-mispricing by Malaysian Traders.
GFI has used the exports data published by the Hong Kong Census and Statistics Department that breaks down re-exports to and from Hong Kong and Malaysia to address the re-exporting issue, making this the most reliable and accurate report from GFI to date. When Malaysia net error and omissions (NEOs) are persistently negative at an astronomical amount, it is absurd for Paul low to attribute this astronomical amount to trade mis-pricing and illegal money transfers by foreign workers. Continue reading “Paul Low attempt to blame trade-mispricing for the estimated RM174 billion siphoned out illegally in 2011, is not only untruthful but a desperate attempt to cover up the rampant corruption under Barisan Nasional rule”