Archive for category EPF Scandal

DAP calls for a Royal Commission of Inquiry into the $500 million EPF shares scandal and why EPF is losing tens of millions of dollars from imprudent and illegal non-trustee/investments/stock

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang at the Sungai Nibong DAP Branch annual general meeting held at Sungai Nibong on Wednesday, 8th April 1987 at 8.30p.m.

DAP calls for a Royal Commission of Inquiry into the $500 million EPF shares scandal and why EPF is losing tens of millions of dollars from imprudent and illegal non-trustee/investments/stock.

Although it is new one month since the tabling in Parliament of the Auditor-General’s Report on the 1985 EPF accounts, the 4.8 million EPF contributors had not been given any satisfactory explanation as to why the EPF Investment Panel and EPF Board had made imprudent, and illegal non-trustee investments loading to tens of millions of dollars of losses. Read the rest of this entry »

DAP to hold a public protest meeting of EPF contribution on May Day to demand that – Government stop using the $24 billion EPF funds for shares speculation and for greater accountability over EPF funds

Press Conference Statement by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung, Lim Kit Siang, in DAP PJ Hqrs on Wednesday, April 1, 1987 at 3p.m.

DAP to hold a public protest meeting of EPF contribution on May Day to demand that – Government stop using the $24 billion EPF funds for shares speculation and for greater accountability over EPF funds.

In the past several years, the country has been inundated with one financial scandal after another, and not a single one has as yet been satisfactorily explained to the people. Read the rest of this entry »

DAP calls on Attorney-General, Tan Sri Abu Talib, to protect the interest of workers and file legal proceedings against EPF Board members for violating the EPF Act in investing in non-trustee stocks

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjong and Assemblyman for Kampong Kolam, Lim Kit Siang, at the inaugural meeting of the DAP 1990s Movement National Task Force held at DAP PJ Headquarters on Tuesday, March 10, 1987 at 8 p.m.

DAP calls on Attorney-General, Tan Sri Abu Talib, to protect the interest of workers and file legal proceedings against EPF Board members for violating the EPF Act in investing in non-trustee stocks

In the August 1986 general elections, in areas contested by the DAP, the voters responded in great support for the DAP’s campaign theme of ‘Enough is Enough – No More Two-Thirds Majority in Parliament’. 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 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 »

Denial that I am drawing pensions from Selangor, and suggest no Minister, Deputy Minister, Menteri Besar, Chief Minister, MP or Assemblymen should draw more than $3,000 a month of pension for his various elective offices

Press Conference Statement by Parliamentary Opposition Leader, DAP Secretary –General, MP for Tanjung and assemblymen for Kampong Kolam, at DAP PJ Hqrs on Thursday, 25.9.1986:

Denial that I am drawing pensions from Selangor, and suggest no Minister, Deputy Minister, Menteri Besar, Chief Minister, MP or Assemblymen should draw more than $3,000 a month of pension for his various elective offices

During the recent UMNO General assembly, the Prime Minister, Datuk Seri Dr. Mahathir Mohamed, in his winding speech referred to my drawing multiple pensions from the Malacca and Selangor State Governments, and that I would be drawing another pension when I am no more Assemblymen for Penang. Read the rest of this entry »

Call on Attorney–General, Tan Sri Abu Talib, to explain to the five million EPF contributors why he did not stop the improper and even illegal investment whereby EPF lost %10 million.

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Kota Melak, Lim Kit Siang, at the DAP English Ceramah hald at Min Shin Charitable Association in Malacca on Sunday, 25.5.1986 at 9pm.

Call on Attorney–General, Tan Sri Abu Talib, to explain to the five million EPF contributors why he did not stop the improper and even illegal investment whereby EPF lost %10 million.

The role and function of the Attorney- General, Tan Sri Abu Talib Othman, has recently come under intense scrutiny, because og his controversial and even unjustifiable actions as in trying to disqualify Mr . Justice Hussain Mustapha from hearing the habeas corpus application of 27 detainees in political leaders involved in the illegal demonstrations, bomb blasts. Arson and rioting in Sabah in March causing five deaths and the destrustion of property amounting to some $10 million; and his rejection of the Cabinet stand that there could be further amendments to liberalise the Official Secrets Act. Read the rest of this entry »

Datuk Seri Dr.Mahathir Mohamed deferred the Parliamentary meeting of July 14 to avoid answering DAP questions

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Kota Melaka, Lim Kit Siang, at the Sandakan DAP Ceramah held in Sandakan on Friday, 11.7.1986 at 9 pm

Datuk Seri Dr.Mahathir Mohamed deferred the Parliamentary meeting of July 14 to avoid answering DAP questions about the indefensible Barisan Nasional actions about unlawful assembly charges for the Sabah March criminals as well as about UMBC scandal, EPF scandal and the billion-dollar mysterious tin-buying scandal

Parliamentary was to meet for two weeks beginning from Monday, July 14 till July 25, but suddenly, for the first time in Parliamentary history, the first week of the two-week parliamentary meeting was cancelled. Read the rest of this entry »

EPF investment losses in shares as at end of May 1986 is probably around $200 million and not $141 million as stated by Tan Sri Zain Azraai

Press Conference Statement by Parliamentary Opposition Leader, DAP Secretary-General And MP for Kota Melaka, Lim Kit Siang, outside the PT EPF Building in support of MTUC demonstration against EPF investment and management policies and decisions on Monday, 7th July 1986 at 3.30 p.m.

EPF investment losses in shares as at end of May 1986 is probably around $200 million and not $141 million as stated by Tan Sri Zain Azraai

I commend the MTUC for organising nation-wide pickets to against the EPF contributors’ funds, in utter disregard of the workers’ interedts and right to full public accountability. Read the rest of this entry »

Ten DAP MPs to ask for a dialogue with the new EPF Chairman and the EPF Board and EPF Investment Panel during Parliamentary meeting next week on workers’ worries about EPF investments and management decisions

By Parliamentary Opposition Leader, DAP Secretary-General and MP for Kota Melaka, Lim Kit Siang, in Petaling Jaya on Sunday, July 6, 1986:

Ten DAP MPs to ask for a dialogue with the new EPF Chairman and the EPF Board and EPF Investment Panel during Parliamentary meeting next week on workers’ worries about EPF investments and management decisions.

The ten DAP MPs, dissatisfied with the dxplanations given by the new EPF Chairman, Tan Sri Zain Azraai, last week about EPF investments, and in particular with regard to the EPF’s $10 million loss in disposing shares to the $2 government company, MAKUWASA SECURUTIES SDN.BHD., is asking for a dialogue with the EPF Chairman, EPF Board and EPF Investment Panel. Read the rest of this entry »