A Morgan Stanley economist estimated Malaysia lost
US$100 billions, that is equivalent to RM300 billions (not millions) to
corruption. Time Magazine quoted this economist at Morgan Stanley in
Singapore as saying that the country might have lost as much as US$100 billion since
the early 1980s or the period since Mahathir came to power. FYI, RM300
billion = 300,000, 000 million. A stupendous sum that is at the same
time, mind-numbing.
A. The staggering
losses accumulated over the years since Mahathir's era till now are as
follows: Perwaja RM10 billion. Forex fiasco in early 90s RM30 billion.
mid-80s Maminco scandal RM1.6 billion. Incessant Bank Bumiputra Scandals
RM10 billion. STAR-LRT bailout RM3.256
billion. RM38.5 billion compensation to UMNO-linked
highway companies. KL City-wide Putra transport system RM4.486 billion.
PKFZ 12 billion. Bank Islam RM700 million. MV Agusta & Proton RM 348
million. Wang ehsan, oil royalty for Terengganu RM7.4 billion. Even
KLCC Twin Towers Philharmonic Orchestra swallowed a total of RM500
million. Bailouts of Malaysia Airline