"Mangkang Menua,Mangkang Dunya,Ngetan Ke Bansa!!"

December 1, 2010

Taib Share Shock ! – Exclusive

Filed under: Corruptions,Taib Must Go,Yang Di Kasihi — Pengayau @ 6:13 pm

Taken from Sarawak Report

Royal Mulu Hotel – Chief Minister owns shares in this state-funded enterprise

 

Sarawak Report can reveal that the Chief Minister, Abdul Taib Mahmud, has a major personal shareholding in Sarawak’s highly controversial  Royal Mulu Resort,  a project that has received huge injections of cash from the State.  This means that, as both Chief Minister and Finance Minister, Taib has authorised the diversion of large sums of public money straight into his own pocket.

As State Resources and Planning Minister, Taib was also responsible for the forced acquisition of a large area of Native Customary Lands from the indigenous Berawan tribe to build the resort, for which the tribespeople received virtually no compensation.  Our evidence therefore further exposes him for having authorised this land-snatch for his own direct benefit.

His shareholding is in a company that was incorporated as recently as November 2007, Mesti Bersatu Sdn Bhd.  This in turn has a 50% shareholding of the Taib/Mahmud family company Kenyalang Cergas, one of the main shareholders of Borsamulu Resorts Bhd (BRSB).  BRSB was handed the ownership and lucrative management contract for what was once a state-owned National Park, thanks to a series of decisions by Taib’s own government starting in 1991.  The management contract is paid for by the taxpayer!

In the money! – a decade ago the Geneids had nothing, now they are the toast of Malaysia’s Tatler Ball 2010! 

The other major beneficiaries and shareholders of the Royal Mulu Resort are members of his family, including his sister Raziah, her third husband Robert Geneid and the family of his late brother Arip Mahmud.  Taib Mahmud has personally  accused the Berawan people of being “greedy” for refusing to hand over their lands for ‘development’.  Their peaceful protests in the 1990s were brutally put down by army and police and their leaders were imprisoned.   Deprived of their territories, these communities are now impoverished and hungry and few people, apart from the Mahmud family, will have difficulty in discerning where the true greed lies.

This time it’s on record

The significance of this official confirmation of the Chief Minister’s own shareholding lies in the fact that Taib has normally sought to disguise his acquisitions and shareholdings in an attempt to avoid widespread allegations of corruption.  He habitually uses members of his own family to hold shares on his behalf.  Thus, the names of his many brothers and sisters, his late wife, his four children, nieces, nephews, cousins and in-laws are prominent as key shareholders in most of Sarawak’s important businesses.

Insiders have also told Sarawak Report that the elderly Chief  Minister has employed a number of other devious methods to keep control of such companies until he is able to extract his wealth and invest it secretly abroad.  These methods include forcing his nominees to sign undated resignation letters and share transfer forms, which he can use at any time to force their removal and employ somebody else as his front man or ‘nominee’!

Likewise, Sarawak Report has copies of US documents showing that shares which were publicly registered as belonging to family members were in fact secretly ‘held in trust’ for the Chief Minister himself.

Chief Minister’s name is in black and white in the Register of Companies

In black and white – Chief Minister Taib Mahmud declares his interest! 

Mesti Bersatu Sdn Bhd therefore forms a notable exception, in that Taib declares his financial interest in black and white in Malaysia’s Company Register.  It is likely to have been an oversight on his part and a sign of his growing confidence that he can do what he likes in Sarawak and get away with it.

He is registered both as a Director and a Shareholder of Mesti Bersatu and holds 400,000 shares out of the 2,300,000 total shares issued for the company.  The other shareholders are his late brother Arif’s three wives (condoned under the Muslim faith) and two grown up daughters.  At RM 1.00 per share, Taib’s shareholding represents an outlay of 400,000 ringgit.

Cheesy tourist welcome – the local tribespeople put on embarrassing display at the Royal Mulu Hotel (from the Geneid family facebook album) 

The company is registered as having ‘No Operation’ at it’s Kuching address, but in fact owns half the shares in Kenyalang Cergas Bhd, which was set up in 1992 as a direct Shareholder of the Royal Mulu resort.   The other Directors and Shareholders of Kenyalang Cergas are Taib’s sister Raziah and her current husband Robert Geneid, who were behind the original development of the resort and  act as the main directors of the company.  Crony timber tycoons the Yaw family, the owners of Samling, have also put money into the project, along with the architect from Singapore. Crucially the Sarawak State Government has also taken up an interest in the venture and has usefully pumped in large sums of life-saving injections of cash from the taxpayer over the years.  That involvement was of course thanks to Taib Mahmud.Read more here

Read also

BREAKING NEWS: Chief Minister’s name is in black and white in the Register of Companies!

Press statement released by Baru Bian on Friday 26th November, 2010. KUCHING.


State Liaison Chief for PKR Sarawak, Baru Bian, accompanied by his lawyer Desmond Kho and several party members, paid a visit to the MACC state office at the 12th floor of Bangunan Sultan Iskandar at Simpang Tiga here today at 3pm.

Bian said serious allegations are reported in an article which is posted at a news portal called http://www.sarawakreport.org under the provocative heading of ‘TAIB SHARE SHOCK!’ at http://www.sarawakreport.org/2010/11/taib-share-shock-exclusive/

According to Bian, the article contains information which is of public interest, especially for Sarawakians. Bian said it is his public duty to alert the MACC and bring the article to the MACC’s attention for further investigations.

“These are very serious allegations. As a responsible citizen of this country, it is my duty to bring this article to the attention of the Malaysian Anti Corruption Commission. It is up to them to further investigate the allegations,” said Bian.

“Malaysians, Sarawakians in particular, would be interested to know if these allegations are true or not. The MACC has a public responsibility to serve the public interest,” said Bian.

Bian gave a printed copy of the article to Puan Suzita bte Marikan and Encik Omar Mokhtar bin Jahari, the MACC enforcement officers at the Investigations Unit.

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