Archive for category BMF Loans Scandal

DAP proposes that National Trust Fund Bill he referred to Select Committee

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in the Dewan Rakyat on Monday, 19.10.1987 referring the National Trust Fund Bill to Select Committee and on the 16 amendments proposed by DAP MPs to the Bill in Committee Stage.

DAP proposes that National Trust Fund Bill he referred to Select Committee as government has not convinced MPs, both Opposition as well as Barisan Nasional, that there could not be massive abuses, breach of trust or corruption as happened in Maminco, EPF-Makuwasa, UMBC, BMF and North-South Highway scandals in the administration of the National Trust Fund which will be a multi-billion dollar Trust Fund.

I propose, under Standing Order 54(2), that the National Trust Fund Bill be referred to a Select Committee, for the following reasons: Read the rest of this entry »

DAP calls on Felda to democratise the 300 Felda schemes to allow the 100,000 settler-families, involving some 600,000 people a greater freedom to decide and run their own affairs

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung. Lim Kit Siang, at the dialogue to issue membership cards to 45 members at Felda Kota Grlanggi 4, (30 km from Jerantut) and to meet the protem committee of DAP Felda Gelanggi 4 Branch in Felda Kota Gelangi 4 on Saturday, 12.9.1987 at 3 p.m.

DAP calls on Felda to democratise the 300 Felda schemes to allow the 100,000 settler-families, involving some 600,000 people a greater freedom to decide and run their own affairs

Felda, which has passed its 30 year anniversary, is facing the crisis of middle-age, after settling some 100,000 settler-families, involving some 600,000 people, in about 300 Felda schemes. Read the rest of this entry »

DAP to Anwar Ibrahim: Dollar-to-dollar refund to co-operative depositiors is not a question of threats or ultimatums, but one of justice and fairness!

By Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Penang on Monday 1.6.1987:

DAP to Anwar Ibrahim: Dollar-to-dollar refund to co-operative depositiors is not a question of threats or ultimatums, but one of justice and fairness!

UMNO Vice President and Education Minister, Anwar Ibrahim, said yesterday that the Cabinet had made 2 decision to help the DTCs but had let it to Bank Negara to work out the details. He said the Cabinet had discussed the DTCs problem in an amiable manner and will continue to deliberate on it, but it will not bow to threats or ultimatums when deciding on ways to help. Read the rest of this entry »

Is the next scandal in Malaysia a $500 million Insurance Scandal?

Press Statement(2) by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Thursday, 23.4.1987:

Is the next scandal in Malaysia a $500 million Insurance Scandal?

Deputy Finance Minister, Sabarrudin Cik, told the Malay Mail today that the Director-General of Insurance had issued a directive to all insurance companies to stop giving financial guarantee for loans undertaken by clients or face appropriate action. Read the rest of this entry »

DAP to organize mammoth co-operative depositors’ meeting in Ipoh at end of April to allow Lee Kim Sai and other MCA Ministers to publicly convince 588,000 depositors why they are not entitle to Bank Bumiputra/BMF style of government rescue and ‘dollar-to-dollar’ refund

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung, Lim Kit Siang, at a meeting of Perak DAP State and branch leaders at DAP Perak Hqrs at Kalan Chamberlain, Ipoh, on Saturday, 11.4.1987 at 2.30 p.m.

DAP to organize mammoth co-operative depositors’ meeting in Ipoh at end of April to allow Lee Kim Sai and other MCA Ministers to publicly convince 588,000 depositors why they are not entitle to Bank Bumiputra/BMF style of government rescue and ‘dollar-to-dollar’ refund

In the past few days, the MCA leaders have shown their ‘true colours’ on the $1.5 billion Co-operative Finance Scandal, for MCA Deputy President Lee Kim Sai in his capacity as the MCA Director of Operations for the Gopeng by-election, has made it very clear that the MCA is opposed to the demands of the 588,000 co-operative depositors for a government guarantee of ‘dollar-to-dollar’ refund. Read the rest of this entry »

DAP calls for the revival of the Ahmad Nordin BMF Inquiry Committee to specifically inquire into the three irregular transactions highlighted in the Hashim Shamsuddin case in Hong Kong

by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, in Petaling Jaya on Saturday, January 17,1987:

DAP calls for the revival of the Ahmad Nordin BMF Inquiry Committee to specifically inquire into the three irregular transactions highlighted in the Hashim Shamsuddin case in Hong Kong

Former BMF and Bank Bumiputra director Datuk Hashim Shamsuddin has been sentenced to four-and-a-half years’ jail after pleading guilty to four charges of corruption and conspiracy to defraud in the BMF scandal in Hong Kong. Read the rest of this entry »

DAP calls for an Independent Commission of Inquiry to investigate how the negligence and irresponsibility of the Government had been the single biggest cause of the $1.5 billion Co-operative Finance Calamity

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP For Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, in the Dewan Rakyat on Monday, Nov. 24, 1986 on the motion to cut the salary of Minister of Finance, Daim Zainuddin, by $10 during the Finance Ministry estimates of the 1987 Budget debate.

DAP calls for an Independent Commission of Inquiry to investigate how the negligence and irresponsibility of the Government had been the single biggest cause of the $1.5 billion Co-operative Finance Calamity.

Two weeks ago, the government presented the White Paper on the 24 deposit-taking co-operatives and the $1.5 billion Co-operative
Calamity of 588,000 depositors, in which it said: Read the rest of this entry »

DAP calls on Tan Sri Abu Talib Othman to resign as Attorney-General if he is not prepared to uphold national interest in prosecuting the BMF scandal culprits, especially now that Datuk Hashim Shamsuddin has pleaded guilty

by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, in Petaling Jaya on Monday, 10.11,1986:

DAP calls on Tan Sri Abu Talib Othman to resign as Attorney-General if he is not prepared to uphold national interest in prosecuting the BMF scandal culprits, especially now that Datuk Hashim Shamsuddin has pleaded guilty

Malaysians are very disappointed by the attitude of the Attorney-¬General, Tan Sri Abu Talib Othman, to the prosecution of the culprits and criminals in the $2.5 billion Bumiputera Malaysia Finance Scandal. Read the rest of this entry »

DAP calls for re-opening of the BMF Scandal Inquiry in view of the new information from London extradition proceedings

Speech by Parliament Opposition Leader, DAP Secretary-General MP for Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, to the Penang Straits Chinese Association on “Malaysia Post-General Elections” at the Penang Old Frees Alumni Association Hall on Saturday, Nov 1, 1986 at 8p.m.

DAP calls for re-opening of the BMF Scandal Inquiry in view of the new information from London extradition proceedings

I propose tonight to look at Malaysia Post-General Elections, in particular at the various major issues and events which should throw some light as to whether the government of the day is drawing the right lessons from the August 3 general elections, just three months ago. Read the rest of this entry »

DAP offers its co-operation to Government to resolve the deepening crisis of confidence which is impeding economic recovery, undermining national unity and destroying public confidence in Malaysia’s future

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung and Assemblyman for Kampong Kolam, Lim Kit Siang, in the Dewan Rakyat on the Motion of Thanks for the Royal Address on Wednesday, Oct 8, 1986

DAP offers its co-operation to Government to resolve the deepening crisis of confidence which is impeding economic recovery, undermining national unity and destroying public confidence in Malaysia’s future.

Malaysia held its seventh parliamentary general elections on August 3, and as the Prime Minister, Datuk Seri Dr. Mahathir Mohamed, said in his UMNO Presidential Address on 19th Sept. 1986, it was UMNO’s “past-ever” election success since UMNO was established and the country gained Independence. UMNO won 34 out of 35 seats in 1995, winning 97 per cent of the seats contested while in 1986, UMNO won 83 out of the 84 seats, winning nearly 99 per cent of the seats it contested. Read the rest of this entry »