Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Energy News .




TRADE WARS
'Corrupt' state boss is richest Malaysian: group
by Staff Writers
Kuala Lumpur (AFP) Sept 21, 2012


The powerful boss of one of Malaysia's poorest states has used graft and abuse of power to amass a staggering $15 billion fortune -- making him the country's richest man -- an activist group said.

The Swiss-based Bruno Manser Fund (BMF) released a report this week alleging that Abdul Taib Mahmud, the chief minister of resource-rich Sarawak state since 1981, and 20 family members are collectively worth $21 billion.

The vast wealth has been accrued through Taib's grip on huge swathes of the economy and rampant nepotism in handing lucrative contracts and concessions to family members and associates, it said.

In the key timber sector alone, Taib, 76, has "ultimate control over the granting of timber concessions" worth several billion dollars.

The family's wealth is allegedly spread over 400 companies around the globe, said the group, which called for an international investigation into the alleged ill-gotten gains.

"Taib has abused his position... to award his family members vast timber concessions, palm oil concessions, state contracts and directorships in Sarawak's largest companies," said the group, which campaigns for rainforest protection and is a fierce critic of Taib.

According to Forbes magazine, 88-year-old tycoon Robert Kuok is Malaysia's richest man, with assets worth $12.4 billion as of March.

Taib opponents have long alleged systematic corruption, abuse of power, nepotism, and plundering of the rich natural resources of Sarawak, located on the northern portion of Borneo island.

For years, Malaysia's anti-corruption agency failed to move against Taib. But, under pressure over the mounting allegations, said this year it had opened an investigation but has provided no details.

Critics of Taib and Malaysia's long ruling party accuse the federal government of failing to act because his tight control of Sarawak has kept it a vital ruling party stronghold.

An official in Taib's office could not be reached for comment. Taib has previously denied such charges.

The BMF said Taib conceals his wealth by rarely being listed as a director or shareholder, instead appointing nominees, usually family members, to act for him.

The group said it arrived at the wealth estimate by reviewing financial and corporate records in Malaysia and several other countries, and a range of other sources.

In December, the group spearheaded a campaign with 16 other environmental groups and activists including Greenpeace calling for the arrest of Taib, Malaysia's longest-serving state chief minister.

His opponents allege massive graft in awarding Sarawak timber concessions and other contracts, and rapacious development that has seen rainforests felled, questionable dams built, and tribal groups uprooted.

Taib's government has defended its policies, saying the state needs to be developed.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
China tightening customs inspections from Japan: firms
Tokyo (AFP) Sept 21, 2012
China is ramping up customs inspections for Japanese products at its ports, firms said on Friday, as a diplomatic row over disputed islands appeared to spill over into multi-billion dollar trade ties. The move comes after Chinese state media threatened economic retribution over Tokyo's nationalisation of the Japanese-controlled Senkaku islands, which Beijing calls Diaoyu. "We've heard fr ... read more


TRADE WARS
Home sweet lab: Computerized house to generate as much energy as it uses

'Smart growth' strategies curb car use, greenhouse gas emissions

China to invest $3.5 bn in Zimbabwe power plant: report

EP passes sulfur fuel, efficiency bills

TRADE WARS
New EU deep-water oil rules advance

World record holder

Canada woos Asia for LNG

Shell wants Greenpeace protest ban or hefty fine

TRADE WARS
Wind power faces tax credit uncertainty

Sufficient wind energy available to meet global demands without damaging climate

Report backs greater role for wind energy

Wind could meet many times world's total power demand by 2030

TRADE WARS
Q.CELLS North America Showcases Latest Innovation at Solar Power International 2012

Hanwha Solar Unveils Product Innovations with Strategic Partners

SolarBridge Technologies Introduces Global Microinverter Platform

Eltek Hits Solar Interoperability Milestone

TRADE WARS
Emirates, Saudis drive for nuclear power

Japan will go nuclear free, PM insists

Japanese power firm to suffer record loss

Quebec shutters sole nuclear plant as Ontario eyes more

TRADE WARS
World's first biofuel jet flight to take off in Canada

Sorghum Eyed as a Southern Bioenergy Crop

EU confirms change in biofuel targets

France reconsiders plans to boost biofuel use

TRADE WARS
Tiangong Orbit Change Signals Likely Date for Shenzhou 10

China Focus: Timeline for China's space research revealed

China eyes next lunar landing as US scales back

China unveils ambitious space projects

TRADE WARS
Emerging powers press rich nations on emissions cuts

New Chinese 'commitments' to tackle spiralling emissions: EU

Effectiveness and impact of climate change mitigation measures unclear

U.S. underestimates costs of carbon pollution and climate change




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement