This is what you have been taxed for! Sakit Hati!

I came across this article in one blog which an anonymous writer contributed. Can't get in touch with him/her but would like to say, "Great job in compiling this list!". Do spread it if you wish :

Looking at the list below, it looks like the BN government are more determined to help themselves rather than the citizens.And this list below is not even barely exhaustive as these are the ones uncovered – the tip of the ice-berg, if you might want to put it! 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)

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 on Terengganu RM7.4 billion from 2004 – 2007

9. For the past 10 years since 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) 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) equipments which it is unable to give a breakdown.

12. The commission paid for 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 have been wasted building the white elephant Customs, Immigration and Quarantine (CIQ) facilities on cancellation of the Malaysia-Singapore scenic bridge

15. RM 100 million on renovation of Parliament building and leaks

16. National Astronaut Programme - RM 40 million

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

18. Eye on Malaysia - RM 30 million and another RM5.7 million of free ticket

19. RM 4.63 billion, ’soft-loan’ to PKFZ

20. RM 2.4 million on indelible ink

21. Samy announced in September 2006 that the government paid compensation amounting to RM 38.5 billion to 20 highway companies. RM 380 million windfalls for 9 toll concessionaires earned solely from the toll hike in 2008 alone.

22. RM32 million timber export kickbacks involving companies connected to Sarawak Chief Minister and his familyBailouts –

23. Two bailouts of Malaysia Airline System RM7.9 billion. At a time when MAS incurring losses every year, RM1.55 million used to buy three paintings to decorate its chairman's (Munir) office.

24. Putra transport system bailout which cost RM4.486 billion

25. STAR-LRT bailout costing RM3.256 billion

26. National Sewerage System bailout costing RM192.54 million

27. Seremban-Port Dickson Highway bailout costing RM142 million

28. Kuching Prison bailout costing RM135 million

29. Kajian Makanan dan Gunaan Orang Islam bailout costing RM8.3 million

30. Le Tour de Langkawi bailout costing RM 3.5 Million

31. Wholesale distribution of tens of millions of shares in Bursa Malaysia under guise of NEP to cronies, children and relatives of BN leaders and Ministers worth billions of ringgits.

32. APs scandal had been going on year-after-year going back for more than three decades, involving a total mind-boggling sum of tens of billions of ringgits

33. Alienation of tens of thousands of hectares of commercial lands and forestry concessions to children and relatives of BN leaders and Ministers worth tens of billions of ringgits

34. Travel around Malaysia and see for yourself how many white elephants like majestic arches, roads paved with fanciful bricks, designer lamp posts, clock towers, Municipal Council buildings that looks more like Istanas, extravagant places of worship, refurbishment of residences of VIPs, abandoned or under-utilised government sports complexes and buildings, etc! Combined they could easily amount to the hundreds of billions of ringgits!

35. Since 1997, Petronas has handed out a staggering 30 billion ringgit in natural gas subsidies to IPPs who were making huge profits. In addition, there were much wastages and forward trading of Petronas oil in the 1990s based on the low price of oil then. Since the accounts of Petronas are for the eyes of Prime Minister only, we have absolutely no idea of the amount. Whatever amount, you bet it is COLLOSSAL!

In Time Asia magazine issue on March 15 2004, South East Asian economist at Morgan Stanley in Singapore Daniel Lian, figures “that the country may have lost as much as U$$100 billion (RM320 billion) since the early 1980s to corruption.” Mind you, this is only corruption and it does not include wastages and mismanagements which could be higher! If the above list (which represent moneys saved) is added to the nation’s coffer and together with Petronas profits, palm oil profits and profits from rubber, tin, agriculture produce, aquaculture produce, electronic and hardware exports, etc, for the past 5 decades, we can all agree on one thing - our country could be wealthier than Venezuela who has little resources except for oil. The petrol in Venezuela is RM0.16 per litre!