Malaysia’s top court upholds ex-PM Najib Razak’s conviction and 12-year jail sentence in graft case

 

Former Malaysian Prime Minister Najib Razak, center, speaks to supporters outside at Court of Appeal in Putrajaya, Malaysia Tuesday, Aug. 23, 2022. Photo: VC

Najib sent to Kajang Prison to serve his 12-year jail term

 

 Former prime minister Datuk Seri Najib Razak has begun to serve his 12-year jail term at the Kajang Prison in Selangor after losing his final appeal in the Federal Court in his graft case involving RM42mil from SRC International Sdn Bhd’s funds. Read more at https://bit.ly/3KlGCte

Scramble ensues at Sungai Buloh as Najib being sent to ...

Malaysia’s ex-PM Najib loses final appeal

Top court upholds former leader’s 12-year jail sentence in 1MDB scandal

By AFP 

 

Malaysia's highest court on Tuesday upheld former prime minister Najib Razak's 12-year jail sentence for corruption in the 1MDB financial scandal, a decision analysts said could slam the door to a political comeback.

Chief Justice Maimun Tuan Mat also issued a warrant of committal, which a lawyer said means Najib is going immediately to jail.

The 69-year-old former prime minister looked somber and dejected, surrounded by his wife Rosmah and two children as the verdict was read.

"We find the appeal devoid of any merits. We find the conviction and sentence to be safe," Maimun said on behalf of a five-judge panel of the Federal Court.

"It is our unanimous view that the evidence led during the trial points overwhelmingly to guilt on all seven charges."

Maimun said that "it would have been a travesty of justice of the highest order if any reasonable tribunal, faced with such evidence staring it in the face, were to find that the appellant is not guilty of the seven ­charges preferred against him."

Sankara Nair, a lawyer who is not involved in the case, told AFP that "with the court issuing a warrant of committal, Najib will be sent to prison immediately."

The Federal Court decision was handed down after the tribunal threw out a last-minute move by Najib's lawyers to recuse the chief justice from hearing the case, alleging bias on her part.

The final ruling on the jail sentence also came four years after his long-ruling party's shock election defeat in 2018, during which allegations he and his friends embezzled billions of dollars from state fund 1MDB were key campaign issues.

A lower court in July 2020 found Najib guilty of abuse of power, money laundering and criminal breach of trust over the transfer of 42 million ringgit ($10.1 million) from SRC International, a former unit of state fund 1MDB, to his personal bank account.

An appellate court in December 2021 denied his appeal, prompting him to go to the ­Federal Court for a final recourse.

Some analysts said the decision will likely derail any plans by Najib for a political comeback.

"If Najib is found guilty, he will be barred from standing in the next election. Obviously, his political career is gone," James Chin, a professor of Asian studies at the University of Tasmania, told AFP before the verdict was announced.

"Under Malaysian law, Najib cannot stand for this election and the next election," he said, referring to speculation that polls may be held in 2022.

Elections are not due until September 2023.

Najib and his ruling party were voted out in 2018 following allegations of their ­involvement in a multibillion dollar financial scandal at 1MDB.

He and his associates were accused of stealing billions of dollars from the country's investment vehicle and spending it on everything from high-end real estate to pricey art.

Despite the lower court sentence, Najib had not been sent to prison while the appeals process played out. 

 

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Break free of US dollar hegemony: What’s next?

The dollar is central to the global monetary system – used worldwide as a unit of account, store of value and medium of exchange. Most commodity and forex contracts are denominated in it. It represents more than one-half of all cross-border interbank claims (a proxy for international payments). That’s five times US share of world goods imports, and three times its share of exports. About two-thirds of world reserves is held in US dollars.

https://youtu.be/kWNBDSj9O_I

https://youtu.be/jsDwMGH5E8U

Warning : China Started Dumping US Debt -- End Game for The Dollar !

https://youtu.be/rRFqy08Wnrg

THE END OF THE DOLLAR STANDARD | A WARNING FROM PETER SCHIFF

https://youtu.be/MeRWfRZp_rg

The yuan’s stability is partly by design, and by good luck; backed by foreign exchange reserves held steady at US$3.1 trillion since mid-2016.

TODAY, the world’s financial rhythm remains American. The US dollar assumed the role of the world’s dominant reserve, payment and settlement currency after WWII. The country’s position as the sole financial superpower gives it extraordinary influence over the destinies of nations.

For 70 years, the United States has used this power rather routinely, as a matter of reality. Of late, however, it has been engaged in “financial warfare” in the service of its foreign policy. This has prompted nations to “break free” of US dollar hegemony, including preventing “US sanctioned nations” free access to US dollar-based financial system with devastating impact.

The dollar is central to the global monetary system – used worldwide as a unit of account, store of value and medium of exchange. Most commodity and forex contracts are denominated in it. It represents more than one-half of all cross-border interbank claims (a proxy for international payments). That’s five times US share of world goods imports, and three times its share of exports. About two-thirds of world reserves is held in US dollars.

It is the preferred currency of central banks and capital markets (accounting for 65% of global securities issuance). The irony is people rushed to buy dollars during the subprime crash, even though Wall Street caused it. They did so again in March this year despite US bungled response to Covid19. The global finance plumbing is US dolarbased – most international transactions are ultimately cleared in US dollars through SWIFT (banks’ main cross-border messaging system) and CHIPS (Us-centric clearing house network) through New York by US “correspondent banks.” Denied access to this infrastructure, the institution is isolated and financially crippled. The United States began flexing its financial muscles (including imposing hefty penalties) after the terrorist attacks of September 2001.

Trump has since “weaponised” it to a new level – to-date, it has over 30 active financial and trade-sanctions programs. Early this year, it used this dominance to cut-off support to the Iran and Iraq regimes, adversely affecting their use of oil revenues.

This use of the dollar to extend its policy reach is “an abuse of power,” i.e. bullying; Russia refers to its use, a “political weapon.” Even allies (EU, Japan, UK) are concerned Trump is undermining US role in maintaining orderliness in global commerce and finance. There is already widespread talk to “dethrone” the US dollar, through the dedollarisation of assets; more use of domestic currencies in its trade workarounds and swaps; and new banking payments mechanisms and digital currencies.

Also, nations have expanded settlement of bilateral trade in their own currencies, or gold; even barter. Russia has gone the furthest, including dedollarising parts of its financial system; reducing US dollar share of its foreign reserves (40% to 24%); cutting its bank’s holdings of US dollar Treasuries to under Us$10bil from Us$100bil; bringing down its exports denominated in US dollar to 62%; and shifting US dollar trade with China and India to non-us dollar settlements; and denominating over 40% of its crude oil tenders in euros.

Like Russia, China has begun to set-up “building blocks” to become more autonomous, including a yuan-denominated crude oil futures contract (“petroyuan”) on the Shanghai exchange. US allies are flirting with it, too. But, EU first has to reform the inner workings of the euro and complete work on banking union, fiscal integration, etc., before it is ready to create a global electronic invoicing euro currency.

Reserves option

US dollar’s role as a reserve currency point to three distinct benefits: (i) lower transactions cost; (ii) macroeconomic policy flexibility, including foreign financing of its deficits; and (iii) leverage to benefit allies. Of course, it carries costs: (a) tends to hurt exports by being strong and stable; (b) overhang of debt overseas opens domestic economy as hostage to sudden capital movements; and (c) needs to bail-out the system.

That’s why the UK, Japan and Germany shied away. However, because the world has changed, EU has since started to push for a stronger international role for the euro. But becoming a serious reserve currency requires: (a) large, deep and liquid capital markets; (b) a secure bonds infrastructure, especially in government bonds; (c) wide use in world trade; and (d) a big economy that’s integrated into global markets.

Without fiscal union, EU lacks a supranational, liquid euro bond; its capital markets are not robust enough – a real banking union would help. Euro’s share of global reserves is down to 20%. Russia also tried – cuts US dollar share of its reserves to 24%. Issues most debt in roubles and euro; only 60% of its exports is settled in US dollars, and 40% of its oil sales contracts is denominated in euros. It has still a long way to go.

China had longed wish to internationalise. But, its capital controls remain a serious problem: it limits how much outsiders can access its currency. In 2017, Bond Connect was launched – allowing foreigners to invest in offshore bonds through Hong Kong, and scrapped investment quotas.

China has since made good progress: (i) offshore yuan deposits are rapidly rising; (ii) issues of yuan “dim-sum” bonds are getting popular; (iii) boom in forex transactions suggests growing usage, especially in hubs like Hong Kong, London, New York and Paris; (iv) more offshore investment products are denominated in yuan; and (v) Hong Kong today lists ETFS, gold futures and property investment trusts in addition to Chinese equity. China’s advances are global: it has a vast global trade and investment network; Chinese FDI is mainly in yuan; it settles 15% of its foreign trade in yuan. Today, more globally yuan payments are processed by banks.

One-fifth of European trade with China is settled in yuan, as is 55% of payments among them. Since 2018, yuan-denominated oil futures were launched in Shanghai, as are margin deposits on iron ore futures in Dalian. China’s commodity exchange is emerging. Most of all, central banks are warming up to the yuan – since inclusion in IMF’S SDR (a basket of five elite currencies), its share of global reserves has risen to 2.1%;

China has already signed currency swap arrangements with over 60 nations. Today, the “yuan bloc” accounts for 30% of global GDP – second only to US dollar (at 40%). China opened up its US$13 trillion bond market (world’s second largest), which accounts for 51% of all bonds issued by EMES.

Foreigners now hold 3% of this market and 9% of its government bonds. Its main attraction: good yields and diversification benefits. Further, the yuan has been among the most stable currencies in the world since mid-2016. Its real effective exchange rate – against the basket of currencies of its trading partners, adjusted for inflation – has risen by just 0.2% over the past four years. The yuan’s stability is partly by design, and by good luck; backed by foreign exchange reserves held steady at US$3.1 trillion since mid-2016.

New initiatives

US geopolitical rivals’ desire to escape the dollar dominance is real. In designing its new e-yuan, China wants a head start on the dollar; it is reported to be considering creating a common cryptocurrency with other BRICS nations (Brazil, Russia, India and South Africa). Similarly, on its part, EU is determined to encourage its members to eliminate “undue reference” to US dollars in payments and trade invoicing.

EU’S main initiative has involved Iran. It tried to create a way for its banks and firms to trade with it through Instex (a clearing house created for this purpose by Britain, France and Germany, with European Commission’s support) by-passing US dollars or SWIFT.

The stuttering performance of Instex reflects the sheer scope of the dollar reach: US claims jurisdiction if a transaction has any American “nexus,” even though not denominated in dollars. Despite this, more EU states are determined to join Instex. It’s EU’S intention to expand its financial reach – through a network of global electronic central bank digital monies that serves as a global invoicing currency, excluding US dollars. Also, its capital market needs greater depth and liquidity, key factors in choosing a currency for commerce. As Trump continues to use sanctions aggressively, efforts to circumvent them will accelerate. The reality is that US does not have a monopoly on financial ingenuity.

What then are we to do

There’s no question the world urgently needs a multinational currency reserve regime. The dollar is being weaponised to bully. This won’t do. Nations, including US allies, are looking for and working on an effective but viable and sustainable option. This will take time. The search is still very much work-in-progress. Euro and e-yuan look promising. But they have a way to go. Like it or not, any e-currency has to be central bank-backed to be credible, and where the public can readily access it.

Still, central banks face hurdles in offering dedicated digital currencies and related accounts to the public. Understandably, many central banks have been hesitant in creating digital currencies. As I see it, they remain worried on how to monitor transactions to prevent fraud and hacking, and whether digital currencies should be linked to interest rates. It’s a responsibility, I think, central banks really don’t want to take-up.


By Lin See Yan, Kuala Lumpur, June 22, 2020

Former banker, Harvard educated economist and British chartered scientist, Prof Lin of Sunway University is the author of “Trying Troubled Times Amid Trauma &Tumult, 2017–2019” (Pearson, 2019). Feedback is most welcome.

Source link

Clean up the graft and power abuse at Human Resource Training & Development provider HRDF

https://youtu.be/fuk3xC6M0ow https://youtu.be/JrJ0V3TIskc https://youtu.be/CT8dgpCh_2w

Scandal-hit: The clean-up at HRDF appears to be far from over.

Questions over HRDF Bangsar South property

PETALING JAYA: The clean-up at scandal-hit Human Resources Deve­lopment Fund (HRDF) appears to be far from over.

In fact, to add to its woes, details have recently emerged about the possible mishandling of a multi-million ringgit property acquisition.

The HRDF management has made police reports claiming there was misconduct or abuse of power in the purchase of part of a building in Bangsar South, Kuala Lumpur, four years ago, because it was done without the knowledge of the board of directors and the investment panel.

HRDF bought six floors of a “landmark skyscraper” for RM154mil, including goods and services tax (GST). It has been alleged that some RM40mil was paid even before the issuance of the tax invoice.

But the bigger issue, according to sources, was that the HRDF’s board of directors had actually approved the purchase of a different piece of property – another building, also in Bangsar South, for RM141mil before GST.

It was learnt that the investment panel was only informed of the switch five months after the first tranche of RM15.4mil had been paid.

The sources confirmed that the HRDF has gone to the police and investigations are underway.

An agency under the Human Resources Ministry, the HRDF manages a fund comprising contributions from employers for the purpose of training and development.

In November last year, minister M. Kulasegaran said staff and management personnel were running HRDF as if it was their own company and that the management had in some instances exceeded authority and approved projects beyond its approval limits.

This latest accusation regarding the Bangsar South purchase reflects the same governance problems.

“The board was also informed that the minister (at that time) approved the change of the property to be acquired,” said a source. “The sale and purchase agreement was signed by the chief executive officer prior to the approval of the investment panel and the board.”

The first RM40mil of the purchase price was paid in eight tranches.

The source said under the Pem­bangunan Sumber Manusia Bhd Act 2001, the minister could only direct the board on matters and was not empowered to approve or consent to entering into agreements.

The remaining RM114mil was paid after the signing of the agreement. The six floors of the Bangsar South building were handed over to the HRDF in March 2017.

Documents sighted by The Star showed that the investment panel voiced its intention to invest in property in a meeting at the end of 2014.

In February 2015, the board of directors approved a proposal to set up a reserve fund and an allocation of RM250mil.

It was stated by the CEO then that the property would be for HRDF’s use.

Another approval came two months later for the RM141mil property.

In May that year, the first payment of RM15.4mil was made, but for the property that cost RM154mil. This was also when the agreement was inked, said the sources.

Five months after receiving the keys in 2017, the investment panel decided to rent out the office floors. The board agreed with this move.

In May last year, the HRDF began paying service charges of RM66,670 per month for its Bangsar South property. Only one floor out the six has been rented out, giving a monthly income of RM115,168.

Surprisingly, the board of directors agreed in March last year to purchase two additional floors in the same building to be used as HRDF’s office.

Kulasegaran had previously said that high-ranking staff of the HRDF misappropriated about RM100mil, around a third of the fund’s RM300mil coffers.

He also said certain management staff members were overpaid with high salaries and bonuses and there was collusion between managerial staff and external parties to award contracts.

When contacted about the Bangsar South acquisition, former HRDF CEO Datuk C.M. Vignaesvaran Jeyandran said the board of directors had given approval before any property was bought.

On the claims that the property purchased was not the one which the board had approved originally, he clarified that it was part of a better building by the same developer and was adjacent to the first building.

“Everything was done according to the appropriate procedures, that’s for sure. There’s no such thing as buying before getting board approval.

“It went through our legal adviser, the investment committee and the audit committee. When we bought the six floors in the other building from the same developer, we also went back to the board and rectified it,” he said.

Asked on the purpose of the acquisition, Vignaesvaran said when he stepped down on June 21 last year, it was still an ongoing discussion at the board level whether the property was to be used as HRDF’s office or for investment purposes.

Bukit Aman Commercial Crimes Investigation Department acting director Deputy Comm Datuk Saiful Azly Kamaruddin said the department received two reports on this matter.

“We have since referred the case to the Malaysian Anti-Corruption Commission as it is under their purview,” he said.

At the time of the Bangsar South property purchase, the HRDF chairman was Datuk Dr Abdul Razak Abdul, who also chaired the investment panel.

Datuk Seri Richard Riot was the then human resources minister.

By royce tan The Star

Panel set up for HRDF clean-up

Datuk Noor Farida Mohd Ariffin

The Human Resources Development Fund is to undergo a complete overhaul. A committee has been set up to ensure the fund is rid of weaknesses and misuse of power among senior staff members as well as a promise by its new chairman to personally deal with allegations of graft.

The HRDF will also have the Malaysian Anti-Corruption Com­mission seconding one of its officers to the organisation.

Its chairman Datuk Noor Farida Mohd Ariffin said this was so that the MACC could establish the proper rules and regulations in the HRDF governance’s clean-up.

“HRDF has sought and received the support of the MACC in implementing rules, regulations and procedures to prevent any further misuse or abuse of employers’ money.

“MACC has agreed to second one of its officers to HRDF to beef up the unit and to expedite this process,” she said in a statement to The Star yesterday.

Last month, the HRDF set up an ad hoc Compliance and Governance Unit to implement the recommendations made by the Governance Oversight Committee (GOC) for the HRDF and to assist in investigations by various law enforcement agencies, said Noor Farida.

This came about after Human Resources Minister M. Kulasegaran formed the five-member GOC in June 2018 to review and investigate allegations that RM100mil had been misappropriated under the previous HRDF’s administration.

Key findings and recommendations by the GOC were finalised and published publicly on the HRDF website, said Noor Farida, who was appointed as its chairman on Jan 1 by Prime Minister Tun Dr Mahathir Mohamad.

Top on the list of GOC recommendations was to stop the segregation of 30% of employers’ human resources development levy towards the Consolidated (Pool) Fund, which was set aside for special projects.

“This was made effective from Nov 1, 2018. No funds have since been allocated or spent on special projects,” she said.

Noor Farida noted that the move was not received well by certain quarters, including training providers, training institutions and trainers, who claimed that their incomes were affected.

The human capital development agency faced heavy public scrutiny following reports of alleged wrongdoings that had taken place under the previous administration.

In November last year, Kulasegaran revealed that high-ranking staff members of HRDF misappropriated about RM100mil out of the RM300mil that was in the fund.

He also highlighted several wrongdoings such as abuse of power, criminal breach of trust and arriving at decisions without reporting to the board of directors.

The Star, in an exclusive report on Jan 9, also highlighted the purchase of a RM154mil property in Bangsar South, also conducted without the approval of the directors and investment panel.

The new HRDF management lodged two police reports. The police have since referred the cases to the MACC.

Meanwhile, it was reported by an online portal that police would be questioning former HRDF chief executive officer Datuk C.M. Vignaesvaran Jeyandran over the “missing” RM100mil.

“On behalf of the HRDF board of directors, I want to reiterate that the board is fully supportive of the actions being taken against the wrongdoers by the HRDF,” said Noor Farida.

She said she would look into these allegations personally and urged those with any complaints or allegations to email her directly at anoorfarida@hrdf.com.my by Jan 31 so that she could initiate an independent investigation.

“If any further information is forthcoming from time to time, it will certainly be investigated,” she added.

The findings would also be published over the HRDF website, said Noor Farida.

By clarissa chung and fatimah zainal The Star


Related:

Report: HRDF possibly mishandled multi-million buy by swapping ...

 

Kula: 30% contribution by employers to HRDF to stop from Nov 15 

 

HRDF chief Vignaesvaran resigns amidst allegations - Nation

Ex-CEO: No comment on HRDF scandal - Nation 

Related post:

 

Malaysia's Human Resource Development Fund (HRDF) a 'personal piggy bank of sr managers!

Clean up the graft and power abuse at Human Resource Training & Development provider HRDF

https://youtu.be/fuk3xC6M0ow https://youtu.be/JrJ0V3TIskc https://youtu.be/CT8dgpCh_2w

Scandal-hit: The clean-up at HRDF appears to be far from over.

Questions over HRDF Bangsar South property

PETALING JAYA: The clean-up at scandal-hit Human Resources Deve­lopment Fund (HRDF) appears to be far from over.

In fact, to add to its woes, details have recently emerged about the possible mishandling of a multi-million ringgit property acquisition.

The HRDF management has made police reports claiming there was misconduct or abuse of power in the purchase of part of a building in Bangsar South, Kuala Lumpur, four years ago, because it was done without the knowledge of the board of directors and the investment panel.

HRDF bought six floors of a “landmark skyscraper” for RM154mil, including goods and services tax (GST). It has been alleged that some RM40mil was paid even before the issuance of the tax invoice.

But the bigger issue, according to sources, was that the HRDF’s board of directors had actually approved the purchase of a different piece of property – another building, also in Bangsar South, for RM141mil before GST.

It was learnt that the investment panel was only informed of the switch five months after the first tranche of RM15.4mil had been paid.

The sources confirmed that the HRDF has gone to the police and investigations are underway.

An agency under the Human Resources Ministry, the HRDF manages a fund comprising contributions from employers for the purpose of training and development.

In November last year, minister M. Kulasegaran said staff and management personnel were running HRDF as if it was their own company and that the management had in some instances exceeded authority and approved projects beyond its approval limits.

This latest accusation regarding the Bangsar South purchase reflects the same governance problems.

“The board was also informed that the minister (at that time) approved the change of the property to be acquired,” said a source. “The sale and purchase agreement was signed by the chief executive officer prior to the approval of the investment panel and the board.”

The first RM40mil of the purchase price was paid in eight tranches.

The source said under the Pem­bangunan Sumber Manusia Bhd Act 2001, the minister could only direct the board on matters and was not empowered to approve or consent to entering into agreements.

The remaining RM114mil was paid after the signing of the agreement. The six floors of the Bangsar South building were handed over to the HRDF in March 2017.

Documents sighted by The Star showed that the investment panel voiced its intention to invest in property in a meeting at the end of 2014.

In February 2015, the board of directors approved a proposal to set up a reserve fund and an allocation of RM250mil.

It was stated by the CEO then that the property would be for HRDF’s use.

Another approval came two months later for the RM141mil property.

In May that year, the first payment of RM15.4mil was made, but for the property that cost RM154mil. This was also when the agreement was inked, said the sources.

Five months after receiving the keys in 2017, the investment panel decided to rent out the office floors. The board agreed with this move.

In May last year, the HRDF began paying service charges of RM66,670 per month for its Bangsar South property. Only one floor out the six has been rented out, giving a monthly income of RM115,168.

Surprisingly, the board of directors agreed in March last year to purchase two additional floors in the same building to be used as HRDF’s office.

Kulasegaran had previously said that high-ranking staff of the HRDF misappropriated about RM100mil, around a third of the fund’s RM300mil coffers.

He also said certain management staff members were overpaid with high salaries and bonuses and there was collusion between managerial staff and external parties to award contracts.

When contacted about the Bangsar South acquisition, former HRDF CEO Datuk C.M. Vignaesvaran Jeyandran said the board of directors had given approval before any property was bought.

On the claims that the property purchased was not the one which the board had approved originally, he clarified that it was part of a better building by the same developer and was adjacent to the first building.

“Everything was done according to the appropriate procedures, that’s for sure. There’s no such thing as buying before getting board approval.

“It went through our legal adviser, the investment committee and the audit committee. When we bought the six floors in the other building from the same developer, we also went back to the board and rectified it,” he said.

Asked on the purpose of the acquisition, Vignaesvaran said when he stepped down on June 21 last year, it was still an ongoing discussion at the board level whether the property was to be used as HRDF’s office or for investment purposes.

Bukit Aman Commercial Crimes Investigation Department acting director Deputy Comm Datuk Saiful Azly Kamaruddin said the department received two reports on this matter.

“We have since referred the case to the Malaysian Anti-Corruption Commission as it is under their purview,” he said.

At the time of the Bangsar South property purchase, the HRDF chairman was Datuk Dr Abdul Razak Abdul, who also chaired the investment panel.

Datuk Seri Richard Riot was the then human resources minister.

By royce tan The Star

Panel set up for HRDF clean-up

Datuk Noor Farida Mohd Ariffin

The Human Resources Development Fund is to undergo a complete overhaul. A committee has been set up to ensure the fund is rid of weaknesses and misuse of power among senior staff members as well as a promise by its new chairman to personally deal with allegations of graft.

The HRDF will also have the Malaysian Anti-Corruption Com­mission seconding one of its officers to the organisation.

Its chairman Datuk Noor Farida Mohd Ariffin said this was so that the MACC could establish the proper rules and regulations in the HRDF governance’s clean-up.

“HRDF has sought and received the support of the MACC in implementing rules, regulations and procedures to prevent any further misuse or abuse of employers’ money.

“MACC has agreed to second one of its officers to HRDF to beef up the unit and to expedite this process,” she said in a statement to The Star yesterday.

Last month, the HRDF set up an ad hoc Compliance and Governance Unit to implement the recommendations made by the Governance Oversight Committee (GOC) for the HRDF and to assist in investigations by various law enforcement agencies, said Noor Farida.

This came about after Human Resources Minister M. Kulasegaran formed the five-member GOC in June 2018 to review and investigate allegations that RM100mil had been misappropriated under the previous HRDF’s administration.

Key findings and recommendations by the GOC were finalised and published publicly on the HRDF website, said Noor Farida, who was appointed as its chairman on Jan 1 by Prime Minister Tun Dr Mahathir Mohamad.

Top on the list of GOC recommendations was to stop the segregation of 30% of employers’ human resources development levy towards the Consolidated (Pool) Fund, which was set aside for special projects.

“This was made effective from Nov 1, 2018. No funds have since been allocated or spent on special projects,” she said.

Noor Farida noted that the move was not received well by certain quarters, including training providers, training institutions and trainers, who claimed that their incomes were affected.

The human capital development agency faced heavy public scrutiny following reports of alleged wrongdoings that had taken place under the previous administration.

In November last year, Kulasegaran revealed that high-ranking staff members of HRDF misappropriated about RM100mil out of the RM300mil that was in the fund.

He also highlighted several wrongdoings such as abuse of power, criminal breach of trust and arriving at decisions without reporting to the board of directors.

The Star, in an exclusive report on Jan 9, also highlighted the purchase of a RM154mil property in Bangsar South, also conducted without the approval of the directors and investment panel.

The new HRDF management lodged two police reports. The police have since referred the cases to the MACC.

Meanwhile, it was reported by an online portal that police would be questioning former HRDF chief executive officer Datuk C.M. Vignaesvaran Jeyandran over the “missing” RM100mil.

“On behalf of the HRDF board of directors, I want to reiterate that the board is fully supportive of the actions being taken against the wrongdoers by the HRDF,” said Noor Farida.

She said she would look into these allegations personally and urged those with any complaints or allegations to email her directly at anoorfarida@hrdf.com.my by Jan 31 so that she could initiate an independent investigation.

“If any further information is forthcoming from time to time, it will certainly be investigated,” she added.

The findings would also be published over the HRDF website, said Noor Farida.

By clarissa chung and fatimah zainal The Star


Related:

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The founder of modern China chairman Mao Zedong. 

China's top paper warns party officials against 'spiritual anaesthesia'

BEIJING: China’s top newspaper warned Communist Party officials not to “pray to God and worship Buddha”, because communism is about atheism and superstition is at the root of many corrupt officials who fall from grace.

China officially guarantees freedom of religion for major belief systems like Christianity, Buddhism and Islam, but party members are meant to be atheists and are especially banned from participating in what China calls superstitious practices like visiting soothsayers.

The party’s official People’s Daily yesterday said in a commentary it had not been uncommon over the past few years to see officials taken down for corruption to have also participated in “feudalistic superstitious activities”.

“In fact, some officials often go to monasteries, pray to God and worship Buddha,” it said.

“Some officials are obsessed with rubbing shoulders with masters, fraternising with them as brothers and becoming their lackeys and their money-trees.”

Chinese people, especially the country’s leaders, have a long tradition of putting their faith in soothsaying and geomancy, looking for answers in times of doubt, need and chaos.

The practice has grown more risky amid a sweeping crackdown on deep-seated corruption launched by President Xi Jinping upon assuming power in late 2012, in which dozens of senior officials have been imprisoned.

The People’s Daily pointed to the example of Li Chuncheng, a former deputy party chief in Sichuan who was jailed for 13 years in 2015 for bribery and abuse of power, who it said was an enthusiastic user of the traditional Chinese geomancy practice of feng shui.

“As an official, if you spend all your time fixating on crooked ways, sooner or later you’ll come to grief,” it said.

The People’s Daily said officials must remember Marx’s guiding words that “Communism begins from the outset with atheism”.

“Superstition is thought pollution and spiritual anaesthesia that cannot be underestimated and must be thoroughly purged,” it said. — Reuters


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China top paper warns officials against 'spiritual anaesthesia', the root of corruptions

 

The founder of modern China chairman Mao Zedong. 

China's top paper warns party officials against 'spiritual anaesthesia'

BEIJING: China’s top newspaper warned Communist Party officials not to “pray to God and worship Buddha”, because communism is about atheism and superstition is at the root of many corrupt officials who fall from grace.

China officially guarantees freedom of religion for major belief systems like Christianity, Buddhism and Islam, but party members are meant to be atheists and are especially banned from participating in what China calls superstitious practices like visiting soothsayers.

The party’s official People’s Daily yesterday said in a commentary it had not been uncommon over the past few years to see officials taken down for corruption to have also participated in “feudalistic superstitious activities”.

“In fact, some officials often go to monasteries, pray to God and worship Buddha,” it said.

“Some officials are obsessed with rubbing shoulders with masters, fraternising with them as brothers and becoming their lackeys and their money-trees.”

Chinese people, especially the country’s leaders, have a long tradition of putting their faith in soothsaying and geomancy, looking for answers in times of doubt, need and chaos.

The practice has grown more risky amid a sweeping crackdown on deep-seated corruption launched by President Xi Jinping upon assuming power in late 2012, in which dozens of senior officials have been imprisoned.

The People’s Daily pointed to the example of Li Chuncheng, a former deputy party chief in Sichuan who was jailed for 13 years in 2015 for bribery and abuse of power, who it said was an enthusiastic user of the traditional Chinese geomancy practice of feng shui.

“As an official, if you spend all your time fixating on crooked ways, sooner or later you’ll come to grief,” it said.

The People’s Daily said officials must remember Marx’s guiding words that “Communism begins from the outset with atheism”.

“Superstition is thought pollution and spiritual anaesthesia that cannot be underestimated and must be thoroughly purged,” it said. — Reuters


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Jul 2, 2012 ... The mission will be the last docking with the Tiangong-1, which was put ... Then, in a few years, China will launch a more sophisticated version, the Tiangong-2. ... Sourbes-Verger said further advances in China's space station...