Tun Mahathir Bin Mohamad Lost RM 320 Billion during his Premiership, here is the breakdown

1. The Bank Bumiputra twin scandals in the early 1980s saw US$1 billion (RM3.2 billion in 2008 ringgit)[3]

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) [4]

3. Betting in foreign exchange futures cost Bank Negara Malaysia RM30 billion in the 1990s. See Bank Negara Malaysia#Recent history

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]

5. Use of RM10 billion public funds in the Valuecap Sdn. Bhd. operation to shore up the stock market [6]

6. Banking scandal of RM700 million losses in Bank Islam, see Bank Islam Malaysia

7. The sale of M.V. Agusta by Proton for one Euro making a loss of €75.99 million (RM 348 million)[7][8]

8. Wang Ehsan from oil royalty on Terengganu RM7.4 billion from 2004 – 2007 [9]

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

10. 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.[11]

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

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

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

14. National Astronaut Programme – RM 40 million, see Angkasawan program

National Service Training Programme – yearly an estimate of RM 500 million [16]

15. Eye on Malaysia – RM 30 million and another RM5.7 million of free ticket [17]

16. RM 4.63 billion, ’soft-loan’ to PKFZ, see Port Klang Free Zone, [18][19]

17. Samy announced in September 2006 that the government paid compensation amounting to RM 38.5 billion to the highway companies. RM 380 million windfalls for 9 toll concessionaires earned solely from the toll hike in 2008 alone. [21][22]

Bailouts -

1. Two bailouts of Malaysia Airline System RM7.9 billion [23]

2. Putra transport system, which cost RM4.486 billion

3. STAR-LRT bailout costing RM3.256 billion

4. National Sewerage System costing RM192.54 million

5. Seremban-Port Dickson Highway costing RM142 million

6. Kuching Prison costing RM135 million

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

7. Le Tour de Langkawi costing RM 3.5 Million

8. 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.

9. 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

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

10. 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!

11. Wastages and forward trading of Petronas oil in the 1990s based on the low price of oil then

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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.”

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Reference

[1]. ↑ Sub scandal surfaces in France, at http://www.malaysianmirror.com/media-buzz-detail/6-nation/37353-sub-scandal-surfaces-in-france

[2]. ↑ http://blog.limkitsiang.com/2010/04/29/malaysian-submarine-scandal-continues/

[3]. ↑ Asia Journal of Public Administration

[4] ↑ Bibliotheca | Pursuit of a Malaysian Dream, a speech by Parliamentary Opposition Leader, DAP Secretary-General, MP For Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, at the Aliran public forum on the Official Secrets Act held at the Penang Chinese Town Hall on Tuesday, 25th Nov. 1986 at 8 p.m. which can be found at the website http://bibliotheca.limkitsiang.com/

[5]↑ Perwaja scandal: Is Mahathir above the law? - Malaysiakini, at website http:\\www.malaysiakini.com/letters/28851

[6]↑ Value Cap Sdn Bhd at web site http://www.valuecap.com.my/About-ValueCAP/Mandate.aspx

[7]↑ Proton - the saga of MV Agusta at http://www.harakahdaily.net/v2/index.php?option=com_content&view=article&id=25057:proton-the-saga-of-mv-agusta&catid=102:terbaik-dari-blog&Itemid=136

[8]↑ MV Agusta sold for 1 euro; Harley buys it for US$109m « anilnetto.com at http://anilnetto.com/accountability/proton-sold-mv-augusta-for-1-euro-harley-buys-it-for-us109m/

[9]↑ K'tan 'wang ehsan': 'Jubilation premature' - Malaysiakini at http:\\www1.malaysiakini.com/news/116691

[10] ↑ Extravagances: Malaysian Philharmonic Orchestra « jelas.info at http:\\jelas.info/.../extravagances-malaysian-philharmonic-orchestra/

[11]↑ A paper "WINDS OF CHANGE: TEACHING SCIENCE AND MATHEMATICS IN ENGLISH - A PERSPECTIVE FROM THE SCHOOL" published by HANNAH PILLAY, Sekolah Menengah Kebangsaan Methodist, Banting, who wrote that: "In the national budget for 2003, the Prime Minister announced that RM 5 billion would be allocated between 2002-2008, for the implementation of the policy to teach Science and Mathematics in English. All teachers from national schools teaching these two subjects and English would be given a laptop computer to use. All Standard One, Form One and Lowe Six classes will be equipped with a LCD projector, a screen and a trolley with speakers and an UPS system." This paper can be found at http:\\apps.emoe.gov.my/ipba/rdipba/cd1/article67.pdf

[12]↑ Graft in Malaysia’s Defense Ministry, at website http://www.asiasentinel.com/index.php?option=com_content&task=view&id=720&Itemid=31

[13]↑ Mahathir squandered RM100 bil, says "Malaysian Maverick: Mahathir Mohamad in Turbulent Times" by Barry Wain, [1], [2], [3]

[14]↑ Asia Pacific Viewpoint, Vol. 47, No. 2, August 2006 ISSN 1360-7456, pp287–303, "Multiple dimensions in negotiating the cross-border transport links that connect and divide Singapore and Johor, Malaysia" by Paul A. Barter, LKY School of Public Policy, National University of Singapore, 29 Heng Mui Keng Terrace, Singapore 119620

[15]↑ "Parliament as “House of Leaks” – heads must roll in PWD and Works Ministry, or Samy’s head should roll", by Parliamentary Member Lim Kit Siang, at

[16]↑ Malaysia | Asia Pacific Philanthropy Consortium at http:\\www.asiapacificphilanthropy.org/node/60

[17]↑ Eye on Malaysia forced to stop pending legal action at http:\\http://thestar.com.my/news/story.asp?file=/2010/1/7/nation/20100107170143&sec=nation

[18]↑ PKFZ scandal: Ex-transport minister Ling charged « Lim Kit Siang 29 Jul 2010 ... Call for reports of the PKFZ scandal “super taskforce” to be made public to account for actions taken by Najib administration in past year ... blog.limkitsiang.com/.../pkfz-scandal-ex-transport-minister-ling-charged/ - Cached

[19]↑ The PKFZ scandal | My Sinchew The Malaysian Anti-Corruption Commission (MACC) is continuing its probe into the Port Klang Free Zone (PKFZ) financial scandal. ... www.mysinchew.com/taxonomy/term/87 - Cached - Similar

[20]↑ SPR blame youths for not registering as voters by MAFREL – your election watchdog at website http://mafrel.wordpress.com/2009/12/28/spr-blame-youths-for-not-registering-as-voters/

[21]↑ "Buy-back of privatised highway concessions more cost effective" by Tony Pua, an MP of Malaysia, see http:\\http://www.thenutgraph.com/buy-back-of-privatised-highway-concessions-more-cost-effective/

[22]↑ 2008 toll hike - RM 380 million windfall against national interests, principles of justice and sharing hardships together, at DAP website, http://www.dapmalaysia.org/english/2007/nov07/lge/lge796.htm

[23]↑ Privatisation and bailouts in Malaysia: The truth about privatisation, at http:\\www.aliran.com/oldsite/monthly/2005a/6h.html