BN’s Wastages That The Rakyat Has to Pay For

malaysiatoday - [...] Looking at the list below, it looks like the BN government is more determined to help themselves rather than the citizens.

And this list below is hardly exhaustive as these are the ones uncovered so far – the tip of the ice-berg, if you will! What lies beneath could be much larger :-

1. The Bank Bumiputra twin scandals in the early 1980s saw US$1 billion (RM3.2 billion in 2008 ringgit) wasted;

2. The Maminco attempt to corner the world tin market in the 1980s is believed to have cost some US$500 million (RM1.6 billion);

3. Betting in foreign exchange futures cost Bank Negara Malaysia RM30 billion in the 1990s;

4. 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.);

5. Use of RM10 billion public funds in the Valuecap Sdn. Bhd. operation to shore up the stock market;

6. Banking scandal of RM700 million losses in Bank Islam;

7. The sale of M.V. Agusta by Proton for one Euro making a loss of €75.99 million (RM 348 million);

8. Wang Ehsan from oil royalty in Terengganu amounting to RM7.4 billion from 2004 – 2007;

9. For the past 10 years since the Philharmonic Orchestra was established, this orchestra has swallowed a total of RM500 million;

10. In Advisors Fees, Mahathir was paid RM180,000; Shahrizat Abdul Jalil (Women and Social Development Affairs) RM404,726; and Abdul Hamid Othman (Religious Affairs) RM549,675 per annum;

11. 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) equipment of which the breakdown of costs is unknown;

12. The commission paid for the purchase of jets and submarines to two private companies, Perimeker Sdn Bhd and IMT Defence Sdn Bhd amounted to RM910 million;

13. RM300 million to compensate Gerbang Perdana for the RM1.1 billion “Crooked Scenic Half-Bridge”;

14. RM1.3 billion has been wasted building the white elephant Customs, Immigration and Quarantine (CIQ) facilities on cancellation of the Malaysia-Singapore scenic bridge;

15. RM100 million spent on the Parliament building for renovations and to patch up leaks;

16. National Astronaut Programme - RM 40 million;

17. National Service Training Programme - yearly an estimate of RM 500 million;

18. Eye on Malaysia - RM30 million and another RM5.7 million of free tickets;

19. RM4.63 billion ’soft-loan’ to PKFZ;

20. RM2.4 million on indelible ink;

21. Samy announced in September 2006 that the government paid compensation amounting to RM38.5 billion to 20 highway companies. A RM380 million windfall for 9 toll concessionaires earned solely from the toll hikes in 2008 alone;

22. RM32 million timber export kickbacks involving companies connected to the Sarawak Chief Minister and his family;... selanjutnya.