fbpx
Connect with us

News

Malaysia Apparently Loses RM40 Billion To RM60 Billion a Year, Thanks To Corruption

Published

My Post 2021 11 30T153342.007
Source: Sinar Harian & Sinar Harian

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

It’s no secret that Malaysia may very well be one of the most corrupt countries in the world. But, just how much is Malaysia losing out on to corruption?

Based on a report by Sinar Harian, Malaysia apparently suffers losses of RM40 billion to RM60 billion on a yearly basis, thanks to corrupt practices as well as the lack of integrity, conflicts of interest and lack of transparency in the management of the country.

On top of that, it was revealed that Malaysia lost RM1.8 trillion through illegal financial flows from 2005 to 2014, stemming from corrupt practices, as shared by Datuk Hassamuddin Yaacub.

Rasuah 1

He, who is the Team Head of the Rasuah Busters and the Chairman of the Board of Directors of Karangkraf Group, said that the RM1.8 trillion could have been used to prepare five rounds of Budget 2022, for the interest of the country and the well-being of the people.

Mismanagement and corrupt practices also caused the loss of 30% of the value of Malaysian public projects.

“This means that the country can save up to RM400 billion if we pay 30% less for goods and services provided by contractors and vendors in the 12th Malaysia Plan (12MP).”

Rasuah 2

This information comes in conjunction with International Anti-Corruption Day, held on 9 December.

“Rasuah Busters invites the general public of all walks of life to join forces and resources to make Malaysia a truly corruption-free country.

If corrupt practices persist and are not addressed promptly and comprehensively, it (corruption) can hit the economic curve more quickly and severely. Therefore, the people need to stand up to make the fight against corruption a jihad, regardless of the size of the bribe offered, given and accepted”, he added.

It’s truly saddening to think about how much our country could prosper with the money that was lost to corruption and how much good the money could have done for our community.

What social causes do you think the RM1.8 trillion could and should have been used for? Let us know in the comment section.

 

Also read: “Shameful. Disgusting. Annoying.” 221 Drug Syndicates Run By VIPs & Datuks Busted In M’sia This Year Alone

My Post 2021 11 08T105544.020

Source: Sinar Harian
Source: Sinar Harian

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Collage 89 Collage 89
News6 hours ago

Johor Government May Implement a 4.5-Day Workweek in the Near Future

A 4-day workweek sounds ideal, but a 4-and-a-half day workweek doesn’t sound bad either. Johoreans may be in luck next...

My Post 1 2024 11 21T160023.537 My Post 1 2024 11 21T160023.537
News7 hours ago

“UPSR get D, SPM can get A” – PMX Responds to BERSIH Giving Him a Grade D in ‘Report Card’

Prime Minister Datuk Seri Anwar Ibrahim has opened up about BERSIH’s ‘report card‘ on his administration’s performance in conjunction with...

My Post 1 2024 11 21T114442.032 1 My Post 1 2024 11 21T114442.032 1
News11 hours ago

PDRM is Offering 60% Off Selected Traffic Summons at Govt’s 2nd Anniversary Event This Weekend!

In conjunction with the MADANI government’s 2nd anniversary on 24 November (Sunday), the Ministry of Home Affairs of Malaysia (KDN)...

Collage 17 1 Collage 17 1
News1 day ago

MCPF Calls for Vape Ban, Warns Addiction to Substances Can Lead to Unhealthy Behaviours Like Theft

The Malaysian Crime Prevention Foundation (MCPF) is urging for the sale of e-cigarettes or vape devices to be banned or...

Feat Image Lesen Feat Image Lesen
News1 day ago

Anthony Loke: Road Users in M’sia May Have to Pay for Physical Driving License Cards Starting Next Year

Transport Minister Anthony Loke Siew Fook today iterated that the Government will continue with the implementation of digital driving licenses...

Collage 15 2 Collage 15 2
News1 day ago

Filipino Couple Caught Living & Working Illegally in Malaysia Using Fake MyKads That Cost RM250 Each

A Filipino husband and wife were arrested during a raid on November 19 at a house in Pandan Indah yesterday...

Feat Image Apple Ind Feat Image Apple Ind
News1 day ago

Apple Offers to Increase Investment in Indonesia Tenfold to RM446 Million to Lift Country’s iPhone 16 Series Ban

Previously, we shared how the Apple iPhone 16 Series is banned from being sold in Indonesia until the tech giant...

My Post 1 2024 11 20T144359.263 My Post 1 2024 11 20T144359.263
News1 day ago

BERSIH Names Ismail Sabri the Best PM Since 2009, Calls Out PMX for Lack of Urgency with Reforms

In conjunction with the upcoming 2nd anniversary (24 November) of Anwar Ibrahim’s administration, The Coalition for Clean and Fair Elections,...

Announcement

Latest Videos



TRENDING TODAY