The situation involving Loh Siew Hong and her three children potentially inflicted severe emotional, mental, and psychological trauma due to its inhumane elements, including separation, religious conversion without consent, and prolonged, highly public legal disputes. The enforced distance from her children likely generated feelings of despair, helplessness, and grief for Loh, while her children may have experienced confusion, abandonment, and conflicted loyalties, especially if exposed to differing narratives by caregivers. The conversion of the children’s religion without parental consent introduces deep identity conflicts, potentially breeding confusion, mistrust, and fear of cultural alienation. Furthermore, prolonged legal battles, exacerbated by the intersection of civil and Syariah laws in Malaysia, imposed unrelenting mental strain on Loh, with public scrutiny amplifying feelings of isolation and stigma. For the children, such exposure to conflict risks emotional instability and mistrust of authority, possibly leading to long-term issues such as anxiety, social withdrawal, and low self-esteem. This complex situation, intertwined with cultural, religious, and legal challenges, underscores the need for empathetic support and psychological care to repair the profound damage caused by the inhumane treatment and to help the family rebuild resilience and emotional well-being.

For Loh Siew Hong’s case, her legal team could argue for a comprehensive compensation package covering:

1. Emotional and Psychological Distress: Compensation for her pain and suffering, possibly MYR 1,000,000.
2. Loss of Parental Bonding: Damages for the time lost with her children and its impact, potentially MYR 500,000.
3. Reputational and Social Harm: Damages for reputational impact and social stigma, up to MYR 300,000.
4. Educational and Religious Identity Support for Children: A fund to cover counseling, religious education, and support services, possibly MYR 500,000.
5. Punitive Damages: Exemplary damages to discourage similar state actions in the future, aiming for MYR 1,500,000.
6. Legal Costs: Reimbursement of all legal expenses, estimated at MYR 200,000.

Total Potential Compensation: Up to MYR 4,000,000

Iran will fall into US trap - got robbed to total nothingness

Culture of total lacking of accountability, honesty and integrity........

Go to fashion, valet, breathe....



Posted by icecool > 1 week ago | Report Abuse

build more govt clinics, where all the tax money when ?

Vivy Yusof started her business journey in 2010 by co-founding FashionValet, an e-commerce platform, with her then-boyfriend (now husband) Fadzarudin Shah Anuar. They began with RM100,000 in capital.........

Independent Oversight Committees, NOT internal audit; Independent bodies with oversight powers could monitor how public funds are used in high-profile or high-stakes projects, offering a check against the misuse of funds.

Why the small farmers continue to struggle? NAFAS (National Farmers’ Organisation)
NAFAS is supposed to support the agricultural sector and the livelihoods of farmers. However, allegations of financial irregularities and favoritism in the distribution of contracts have tarnished its reputation. The public has expressed a desire for more transparent management within NAFAS to ensure that funds reach small-scale farmers as intended.

Lessons learned? The NFC was supposed to reduce Malaysia’s dependency on imported beef, but the funds intended for this purpose were allegedly diverted for unrelated luxuries and investments, leading to public outrage. This case highlighted issues of governance and raised questions about how funds were distributed and monitored.

The LCS scandal, which involved billions of ringgit for defense purposes, has been a major issue. The project was supposed to deliver six combat ships for the Royal Malaysian Navy, but as of the most recent reports, no ships have been fully completed.

Subsidies are vanishing while cost of living is rising - A Call to Action for Malaysians
Ultimately, for the public to reclaim funds misused in these cases, there needs to be consistent pressure on relevant authorities to take action. Malaysians, by collectively raising their voices through petitions, attending town halls, or even engaging with representatives on the need for stronger laws, can help create a more transparent and responsible government system. With reforms and active citizen involvement, Malaysia can work towards minimizing future cases of public fund misuse.

Get back stolen money by the elite gangs, carthels and cablepreneurs..........

For no.4 : If the RM2.284 million write-off for web development costs was indeed unusual and unsupported, potential violations under Malaysian law include:

False reporting under the Companies Act 2016 (up to RM3 million fine and 10 years imprisonment),
Incorrect tax submission under the Income Tax Act 1967 (penalties of 100-200% of tax due and imprisonment up to three years),
Potential corruption liability if funds were misused under MACC Act 2009 (10 times bribe amount fine and RM1 million minimum fine).

For no.3 : In Malaysia, if there are allegations of accounting fraud, profit diversions, or mismanaged dividend payouts, several legal frameworks and regulatory bodies may come into play, potentially leading to investigations and sanctions if violations are found. Here are the relevant laws and regulations that could be applicable to the scenario described:

1. Companies Act 2016 (CA 2016)
- Section 213: Directors’ Duties — Directors are legally required to act in the best interest of the company, with due diligence, skill, and care. If FashionValet directors approved dividends while being aware that these payouts might harm the company's financial stability or reinvestment needs, they could be held liable for breaching their fiduciary duties.
- Section 248: Duty to Keep Proper Accounting Records — If accounting irregularities are suspected, failure to maintain transparent, accurate records is a violation. This can apply if accounting was manipulated to enable profit diversions or mask financial issues.
- Section 131 and 132: Solvency Requirements for Dividend Declaration — Dividends can only be declared if the company is solvent. If FashionValet paid dividends without meeting solvency criteria, this could constitute a breach of CA 2016, with directors potentially facing personal liability.

2. Financial Reporting Standards (FRS)
- Under Malaysian Financial Reporting Standards, companies are required to present accurate financial statements that reflect their true economic position. If there were omissions or inaccuracies related to profit diversion or dividend payouts, this could breach FRS. Such misconduct can lead to penalties for misleading financial disclosures.

3. Malaysian Code on Corporate Governance (MCCG)
- The MCCG establishes ethical guidelines and good corporate governance principles. If there were instances of cash-outs by stakeholders at the expense of the company’s long-term strategy or stability, it would go against MCCG principles. Though the MCCG itself doesn’t have legal penalties, breaches could negatively affect the company’s reputation and result in regulatory scrutiny.

4. Securities Industry Laws:
- If FashionValet was publicly listed or involved in the capital market, violations of these laws could occur:
- Capital Markets and Services Act 2007 (CMSA): Provisions under the CMSA address fraudulent financial statements and the manipulation of a company’s finances for improper gain.
- Securities Commission Malaysia (SC): The SC has oversight over public offerings and could investigate if profit diversion or dividend mismanagement impacted shareholders.

5. Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA)
- If any profit diversions were hidden or involved any financial maneuvering to disguise true financial activities, AMLATFA could be invoked. This act applies to money laundering activities and requires accurate reporting of financial transactions.

6. Income Tax Act 1967 (ITA)
- If funds were diverted in a manner that affects corporate tax liability, it could be a breach of the Income Tax Act. Companies are legally required to report profits accurately, and any intentional diversion that reduces tax liabilities might lead to penalties.

Possible Consequences and Enforcement Actions:
- Fines and Penalties: Breaches of CA 2016 or CMSA provisions could result in heavy fines.
- Director Disqualification: If directors are found to have violated fiduciary duties or other provisions, they may be disqualified from serving as directors in the future.
- Civil and Criminal Charges: Severe cases involving fraud or deliberate misrepresentation may lead to civil lawsuits or criminal charges against individuals involved.
- Investigations by Relevant Authorities: The Companies Commission of Malaysia (SSM), SC, and Malaysian Inland Revenue Board (IRB) may initiate probes into the matter, especially if shareholders or other stakeholders lodge complaints.

If the allegations of profit diversion and dividend payouts are substantiated, these legal provisions may be used to hold FashionValet’s directors or executives accountable.

For no.2 : To examine potential Malaysian laws that might have been violated in a case like this, especially in a situation where funds intended for a specific purpose were allegedly redirected, we can focus on several legal frameworks. The key issues here are potential criminal breach of trust (CBT), the misrepresentation of investment objectives, and the obligations of fiduciary duties to stakeholders.

1. Criminal Breach of Trust (CBT)
In Malaysia, CBT is governed by Section 405 of the Penal Code. This section outlines that an offense occurs when an individual entrusted with property or authority over it misappropriates it or uses it in violation of any legal direction. Redirecting funds from Khazanah Nasional and Permodalan Nasional Berhad (PNB)—two key investment entities in Malaysia—into different areas than initially intended, such as focusing only on dUCk and LILIT, could be interpreted as misappropriation if it contradicts the original agreements.

- Example: If the funds were specifically earmarked for expanding an e-commerce platform connecting multiple brands, but were instead used predominantly to develop only two brands, this could be seen as a violation of the terms under which the funds were entrusted.
- Rationale: CBT laws are intended to safeguard against any breach of trust that could harm stakeholders financially or reputationally.

2. Breach of Fiduciary Duty
Fiduciary duty obliges company directors and officers to act in the best interests of their shareholders or investors. Under the Companies Act 2016, directors must carry out their responsibilities honestly, in good faith, and in a manner they believe is in the best interest of the company. If the redirection of resources prioritized specific brands over the broader e-commerce mission, this could signal a breach of fiduciary duty.

- Example: Directors or executives may be found in breach if they failed to disclose the reallocation of resources to investors or did not act transparently about how funds would be distributed.
- Rationale: Fiduciary duties are meant to protect investors and ensure directors do not exploit their positions for gain inconsistent with the company’s interests. If the original objective was sidelined without proper disclosure or shareholder approval, the directors could be liable for this breach.

3. Securities Laws on Disclosure and Misrepresentation
The Capital Markets and Services Act 2007 (CMSA) includes provisions against misrepresentation, where any disclosure to investors must be accurate and complete. If FashionValet's leaders assured Khazanah and PNB that the funds would be used specifically to build a multi-brand e-commerce platform but redirected them without transparent updates, they could face allegations of misrepresentation.

- Example: If FashionValet provided investors with an investment prospectus or statement that promised expansion across multiple brands and later deviated from this without notifying investors, they may be liable for misrepresentation.
- Rationale: Securities laws are designed to foster transparency and protect investors. Any redirection of resources without updating investment stakeholders can be seen as a breach of these disclosure requirements, potentially leading to penalties or sanctions.

4. Corporate Governance Violations
Malaysia’s Code on Corporate Governance emphasizes transparency and accountability. This code encourages companies to ensure that their strategies align with communicated objectives. Reallocating funds could signal governance issues if it departs from the corporate strategies communicated to Khazanah, PNB, or other shareholders.

- Example: The board might face scrutiny if it’s shown that strategic decisions were made to benefit specific brands (dUCk and LILIT) without approval from, or clear communication with, stakeholders.
- Rationale: Strong governance practices are central to protecting investor interests and ensuring that company leadership is held accountable for major decisions. Unilateral decisions that prioritize certain projects can harm trust and are often viewed as governance breaches.

5. Misuse of Public Resources (if applicable)
If Khazanah and PNB funds are sourced from public money, any redirection that does not align with stated objectives could be seen as a misuse of public resources. Public fund misuse is a serious offense in Malaysia and could lead to investigations by government oversight bodies.

- Example: Suppose public resources intended to support a diverse range of brands were instead funneled disproportionately into only two brands. In that case, the company could face questions on its commitment to the intended goals of the funding.
- Rationale: Public resources are held to high standards of accountability. The goal is to ensure that such funds benefit the intended stakeholders rather than selectively boosting a few brands or individuals.

For no.1 : The abrupt shift in FashionValet’s business model after substantial investments from government-linked corporations, such as Khazanah and Permodalan Nasional Berhad (PNB), raises several legal concerns under Malaysian law, particularly regarding the proper use of investment funds, transparency, and fiduciary responsibilities. Below are specific Malaysian laws and regulations potentially implicated:

1. Companies Act 2016 (CA 2016):
- Section 132: This section emphasizes the duty of directors to act in the best interests of the company, to avoid conflicts of interest, and to exercise reasonable care in the company’s management. Any drastic business pivot—like shifting from FashionValet’s platform to in-house brands (dUCk and LILIT)—must be justified as beneficial for the company’s stakeholders, including its investors. A lack of transparency or failure to inform and obtain consent from significant shareholders could constitute a breach of directors' fiduciary duty.
- Section 289: Misrepresentation or providing false or misleading information about a company’s affairs, including financial projections or intended business direction, is prohibited. If the company misled investors about the intended use of funds, it could be liable for misrepresentation, which may lead to civil penalties or shareholder actions.

2. Capital Markets and Services Act 2007 (CMSA 2007):
- Section 317A: This provision requires disclosures to be true and not misleading, especially when involving government-linked investors. If FashionValet presented one business plan to attract capital but subsequently used the funds differently without proper disclosure or approval, this could violate requirements for transparency and fair dealing.
- Section 320: Any abrupt pivot in the business model that was not disclosed to investors can be seen as a “false or misleading statement” regarding material information if the funds were allocated with expectations based on FashionValet’s original business plan.

3. Trustees Act 1949 (Revised 1978):
- Government-linked investors, like Khazanah and PNB, act as trustees of public funds. They are expected to ensure that investments align with public interests and adhere to prudential standards. A shift in business strategy without consultation or a clear justification might indicate a misuse of funds entrusted to these entities, potentially constituting a breach of the trustees' fiduciary duty under the Trustees Act.

4. Financial Reporting Standards (FRS):
- All companies in Malaysia, particularly those receiving public funds or significant investment from government-linked corporations, are required to maintain transparent and accurate financial records under the Malaysian FRS. An abrupt business model change without proper disclosure in financial reports could be considered a failure to provide a true and fair view of the company’s financial position and operations.

5. Anti-Corruption Laws:
- If any influence or arrangement unduly favored FashionValet to secure funding under the pretense of expansion but ultimately used these funds to pivot towards in-house brands, this could potentially fall under the purview of Malaysia’s Malaysian Anti-Corruption Commission Act 2009 (MACC Act 2009). Sections of the Act criminalize the misuse of funds, abuse of power, or any acts of corruption involving public monies.

Here are five key points raising concerns around the Khazanah Nasional and Permodalan Nasional Berhad (PNB) investments in FashionValet, especially as they pivoted operations and shut down their core platform:

1. Suspicious Abrupt Shift in Business Model: FashionValet received substantial investment from government-linked firms, Khazanah and PNB, only to later pivot its business focus entirely to its in-house brands, dUCk and LILIT. The closure of FashionValet’s online platform was abrupt, especially considering the capital injected to expand their retail presence and enhance operational capacity just before the pivot. Critics question if these funds were used as planned or redirected with little transparency, sparking concerns about misuse of investment intent.

2. CBT Redirection of Resources: Funds from Khazanah and PNB were intended to support FashionValet as an e-commerce platform connecting multiple brands. Instead, these resources were reallocated to boost only dUCk and LILIT, effectively sidelining the original mission. This redirection without clear prior disclosure appears to have strained trust with investors, raising suspicion about whether the initial investment terms were met in spirit.

3. Potential Accounting Fraud - Profit Diversions and Dividend Payouts: Speculative reports indicate that FashionValet might have paid out dividends (around RM4.2 million in 2018) shortly before it pivoted to focus solely on its own brands, rather than reinvesting in the e-commerce platform or expanding its core business. If accurate, these actions could indicate strategic cash-outs by major stakeholders before shifting the business model, which adds to the perception of possible fund mismanagement.

4. Unaccountable Unusual Write-offs: FashionValet's 2017 financial records included a significant RM2.284 million write-off for web development expenses. The lack of confirmation from associated parties about this write-off has led some to question if this might mask other financial practices. Given the relatively low cost of Magento (the platform they were using), this high expense for a web template raises eyebrows.

5. Insensible High-Cost Capital- losing Physical Stores Despite Online Model: While positioned as an online marketplace, FashionValet invested heavily in physical store expansions at premium locations, incurring significant overhead costs. This move into offline retail spaces was unexpected and appeared misaligned with the original value proposition of an e-commerce-focused model, raising questions on the necessity and timing of such expenses in relation to the platform's closure.

No more letting T2-15 pay for their transport, Burbery and extravagant lifestyle. Let MPs pay for the actual cost of such living........WHY not be really functional Robin Hood?

If all the culprits are made to pay back, certainly all Rakyat will continue to be supported by the government during this post-pandemic challenging time

Superior and people's leaders plug leakages; while inferior and corruptible enforcer-friendly politicians remove subsidies

Yes, ZERO increase in debt. And to reduce to ZERO in stages

Matriculation pre-U exam as chest mode sequelae - Systemic Cheating and Lack of Integrity: National schools are plagued by systemic issues, including widespread cheating during exams, falsification of academic records, and other forms of academic dishonesty. This culture of cheating is not isolated to students alone; in some instances, it involves teachers and administrators, which undermines the integrity of the entire education system. When students see that dishonesty is not only tolerated but sometimes even encouraged by those in authority, it erodes trust in the educational process. This lack of integrity means that academic achievements in national schools are often viewed with skepticism, both by employers and higher education institutions.

None of the government officers deserve enjoying unaccountable, taxpayer-funded overseas trips unless they can demonstrably bring back significant value—100 times the cost—to the nation. This is especially critical until the country's national debt is eliminated and poverty is eradicated.

The World Bank report on Malaysia paints a truly inspiring picture of government efficiency in the East Coast—Kelantan, Terengganu, and Pahang. Over five glorious years from 2018 to 2023, fewer than 50,000 highly skilled jobs were created annually. Yet, with remarkable foresight, the Ministry of Higher Education churned out between 200,000 to 350,000 graduates each year, competing fiercely for these jobs. Clearly, we are witnessing the art of overproduction perfected.

One has to admire the government’s unparalleled vision in flooding the market with graduates while making sure that actual jobs remain as elusive as ever. It’s almost as if they thought creating jobs was someone else’s problem. Why invest in expanding the job market when you can simply give everyone a degree and call it progress? Besides, nothing screams success like forcing fresh graduates to flip burgers or migrate in search of greener pastures.

It is time to hold the state governments of east coast, and the Ministry of Higher Education accountable for a systemic failure that has plagued the East Coast for far too long. The overproduction of graduates far outstripping the number of skilled jobs available is not merely a lapse in planning—it is a monumental blunder in workforce management that borders on negligence. For years, there has been an unrestrained increase in university intakes without regard for the realities of the job market. This reckless expansion has led to a cascade of wasted human potential and economic instability. Enough is enough.

Raising terrorists, vigilants and extremists - Report Abuse

School is critical in shaping children into compassionate, empathetic individuals, preventing them from becoming harmful to others by instilling in them the understanding that "children are what they learn."

When a country’s debt becomes too high and it faces challenges in repaying it, governments must make tough decisions to cut back on public spending, particularly focusing on eliminating misallocated funds. Cutting back to zero misallocation is critical to ensure that public resources are used efficiently and to prevent the debt burden from spiraling out of control.

There is no two ways about this - no it's no buts - Digital addiction should similarly be condemned and treated with the same level of seriousness to protect the well-being of individuals and the community.

Grab food je kerja......Failure to Meet Labor Market Demands: The job market in IR 4.0 requires not just technical skills but also adaptability, emotional intelligence, and digital competencies. Schools that do not adequately prepare students for these challenges may leave them unemployable, resulting in economic loss. This failure can be interpreted as a failure of the state to provide quality education, violating the students’ rights to educational resources that meet modern demands.

And Russia does it!! Each B40 household can become M40 too - Malaysians could join international lawsuits or launch collective actions through a legal collaboration with international law firms specializing in digital rights and online harms..........................................if ours uni not paper mills and law prof are not kangkung

And these people never pay actual cost for their lavish lifestyle - parliamentarians and top government officers, although arguably within the highest income brackets, enjoy extensive perks funded by public money. This includes allowances for transportation, healthcare, housing, and often, subsidies for their children's education and overseas travel. These benefits largely insulate them from the cost of subsidy cuts that the rest of the T15 group faces. Additionally, they benefit from exclusive healthcare options, often bypassing the costs and limitations of the public system altogether. Such disparities create an unfair system where the political elite and top civil servants are shielded from the financial strain of price increases, yet continue to enjoy luxurious perks.

MACC is toothless to recover stolen money while LHDN sleeping on job...........That's why the middle class has to be squeezed

Yes, also LCS, NAFAS Baja........and count on

Companies Act 2016
- Breach of Fiduciary Duty: Directors and officers of Khazanah, as in any company, have fiduciary duties to act in the best interests of the company. Under the Companies Act 2016, directors have a duty to act honestly, in good faith, and for the benefit of the company as a whole. Failing to exercise these duties responsibly can expose directors to legal claims. Sections 213-218 of the Companies Act address these duties

Bagai kacang lupakan kulit - sidelining measure after measure right after general election. Think without T2-19, PH could be in gomen?????

Of the people, by the people for the people - Now, the people want these top earners of the country to pay actual price for their lavish lifestyle!

Cutting subsidies for the T15 (top 15% income group) in Malaysia will likely put an undue burden on the hardworking middle-class, who may be earning a bit more than the national median but still depend on subsidies for essentials. For many in this group, the rise in costs for fuel, electricity, or other necessities due to subsidy cuts will tighten household budgets and reduce disposable income, affecting their overall quality of life. While classified as part of the “T15,” they often do not enjoy the lifestyle that this label might suggest.

In contrast, parliamentarians and top government officers, although arguably within the highest income brackets, enjoy extensive perks funded by public money. This includes allowances for transportation, healthcare, housing, and often, subsidies for their children's education and overseas travel. These benefits largely insulate them from the cost of subsidy cuts that the rest of the T15 group faces. Additionally, they benefit from exclusive healthcare options, often bypassing the costs and limitations of the public system altogether.

Such disparities create an unfair system where the political elite and top civil servants are shielded from the financial strain of price increases, yet continue to enjoy luxurious perks. For example, these officials often have access to government-funded vehicles, which sidesteps the impact of fuel subsidy cuts. Moreover, their regular family vacations and other personal expenses may be indirectly supported by public funds, further cushioning them from the financial realities that average working Malaysians face.

The situation highlights a double standard: the T15 middle class, often labeled as "well-off," must bear the full brunt of these subsidy removals, while top government officials, despite being among the most affluent, continue to maintain their lifestyle at the taxpayer’s expense. This inequality in how financial responsibilities are distributed is felt even more sharply when such cuts are introduced without significant reforms to high-ranking officials’ privileges, creating a sense of injustice and disconnect in policy impacts across Malaysian society.

Like Sarawak does - we expand the size of the pie

(While peninsular carthels continue to fight for "who move my cheese......." Hehe)

Fuel and cooking oil smuggling from Malaysia to neighboring countries like Thailand and Indonesia results in significant public fund losses each year due to the disparity in prices created by government subsidies. Malaysia offers petrol at a subsidized rate of RM2.05 per liter, significantly lower than the market rate in Thailand, where comparable fuel costs about 35.45 baht (around RM4.50) per liter. Similarly, cooking oil is priced at RM2.50 per kilogram in Malaysia, compared to RM8 in Thailand. These price differences incentivize smugglers, particularly in border areas, where they sell Malaysian-subsidized goods for substantial profit.

Despite ongoing enforcement efforts, fuel and cooking oil smuggling remains a persistent issue. Authorities have found that smugglers often use modified vehicles to transport fuel across the border. Cooking oil smuggling, while reportedly reduced in recent years, continues to appeal to southern Thai residents who prefer Malaysian products for their affordability and perceived halal quality. In a recent period from January to August, seizures of controlled goods at the Malaysian-Thai border—including fuel and cooking oil—amounted to about RM451,378, with additional losses likely not accounted for due to undetected smuggling operations.

These activities continue to undermine Malaysia's subsidy programs, costing the government millions of ringgit annually in lost revenue. Effective control remains challenging due to the extensive border and high demand in neighboring countries, leading to a recurring drain on public funds.

Fuel and cooking oil smuggling from Malaysia to neighboring countries like Thailand and Indonesia results in significant public fund losses each year due to the disparity in prices created by government subsidies. Malaysia offers petrol at a subsidized rate of RM2.05 per liter, significantly lower than the market rate in Thailand, where comparable fuel costs about 35.45 baht (around RM4.50) per liter. Similarly, cooking oil is priced at RM2.50 per kilogram in Malaysia, compared to RM8 in Thailand. These price differences incentivize smugglers, particularly in border areas, where they sell Malaysian-subsidized goods for substantial profit.

Despite ongoing enforcement efforts, fuel and cooking oil smuggling remains a persistent issue. Authorities have found that smugglers often use modified vehicles to transport fuel across the border. Cooking oil smuggling, while reportedly reduced in recent years, continues to appeal to southern Thai residents who prefer Malaysian products for their affordability and perceived halal quality. In a recent period from January to August, seizures of controlled goods at the Malaysian-Thai border—including fuel and cooking oil—amounted to about RM451,378, with additional losses likely not accounted for due to undetected smuggling operations.

These activities continue to undermine Malaysia's subsidy programs, costing the government millions of ringgit annually in lost revenue. Effective control remains challenging due to the extensive border and high demand in neighboring countries, leading to a recurring drain on public funds.

No worries.....Next gomen will learn to confiscate dozens of culprits' assets to return to money to fund the people's subsidies and waive PTPTN......

Posted by chinaman > 30 minutes ago | Report Abuse

1) conflict of interest when gomen also involved in biz. 2) waste tax payee money and time to audit all GLC 3) use tax payee $$ to bail out each time GLC failed

With over a dozen of passport retained, bank accounts frozen - We wishes to confirm that it has initiated an investigation into allegations of potential misappropriation of public funds. This decision underscores our unwavering commitment to upholding integrity, transparency, and accountability in public service.

We understand the seriousness of these allegations and their implications for public trust. Therefore, we assure the public that this investigation will be conducted thoroughly, impartially, and in accordance with the law. Our goal is to ascertain the facts surrounding these allegations and determine if any misconduct has occurred.

We encourage anyone with relevant information to come forward and assist in this investigation. Whistleblower protections are in place to ensure confidentiality and safety for those who contribute information.

As this is an ongoing investigation, we cannot disclose further details at this time. We ask for the public's patience and understanding as we carry out our responsibilities. We are committed to providing updates as appropriate while ensuring that our investigative processes remain unimpeded.

The ACC remains dedicated to fighting corruption and safeguarding the interests of the citizens we serve. Thank you for your continued support and trust in our efforts.

Anti-Corruption Legislation: Laws like Malaysia's Anti-Corruption Act (MACC Act 2009) impose stringent obligations on leaders to prevent and address corrupt practices. Under Section 17A, for instance, companies are liable if employees or associates are involved in bribery unless the company has adequate procedures to prevent such acts. Inaction by leadership, therefore, can expose a company to severe penalties if fraudulent or corrupt activities are found to be occurring internally.

While internal audits play a crucial role in the governance of GLCs like Khazanah and PNB, they should be complemented by a multi-faceted approach that includes external audits, robust risk management practices, enhanced corporate governance, and technological solutions. This holistic strategy can provide a stronger defense against losses from suspicious deals and improve overall accountability in investment decisions.

Reformbasi

Vivy Maple's owner could exploit PNB and Khazanah through a combination of strategic misrepresentation, leveraging institutional trust, and potential misallocation of funds.

FashionValet acquired 30 Maple, the company behind the dUCk brand, from Vivy Yusof. This acquisition took place in December 2018, following FashionValet's Series C funding round earlier that year. The valuation of this deal is reported to be around RM100 million

Yes, hundred of million loss......only a fraction of FV.......hehe

While Sarawak has made strides in offering free university education, Peninsular Malaysia still depends heavily on the PTPTN (Perbadanan Tabung Pendidikan Tinggi Nasional) loan system. This loan system has often led to financial strain on young graduates, many of whom struggle with repayment due to job market constraints and wage stagnation.

Sarawak's ability to offer free education could be partly due to its resource-rich status, especially in oil and gas, which has contributed to its higher income base. This raises questions about federal resource allocation, the impact of regional autonomy, and the effectiveness of wealth distribution policies. Sarawak and Sabah have, in some instances, pushed for greater autonomy over their finances and resources, arguing that this could better serve the needs of their populations.

On the other hand, Peninsular Malaysia's issues with scandals, such as 1MDB, the feedlot scandal, and corruption allegations, have cast a shadow on the federal government's management of public funds. These issues not only affect public trust but also hinder the government's ability to fund social initiatives, such as debt-free education.