To resolve the multiple cases committed by preceding regimes involving misappropriation of public funds and other misdeeds (from Perimekar to Boustead Naval Shipyards et al), it was proposed that in due respect that Malaysia’s RM$4.5 Trillion losses to corruption and leakages be recovered. This amount is thrice the amount of national debt the country is bearing!
Already at 18% of federal government revenue, Malaysia’s interest payments alone will become more unbearing as new debts are taken at higher rates to roll over old debt.
A fuller discussion on this topic with reference to the sourcing of funds for the Madani Malaysia economic developmental thrust is in this STORM 2023 paper: sovereign-debts-dependency-and-financial-capitalism.
Of course, the underlying issue is ethnocracy feudalism: NEP-ethnocratic-hegemony and class divides: ethnocapital-and-class.
Resolving part of a fiscal recovery is to execute through a Truth, Recovery and Amnesty Commission (TRAC) to diligently track and recover the monies so as to bring about an effective closure - hopefully - of the painful decades of corruption in Malaysia. It can be modelled after the South African Truth and Reconciliation Commission on apartheid closure.
[ The various arguments, methodologies applied, and the presentation of facts and figures as laid out by Emir Research on the computation of national wealth extraction are HERE ].
Meanwhile, the Malaysian government has moved to create another Royal Commission of Inquiry (RCI) that is related in certain way to Dr Mahathir Mohamad.
This time, an RCI will probe the issue of Malaysia's sovereignty over Batu Puteh, Batuan Tengah (Middle Rocks) and Tubir Selatan (South Ledge) - three tiny islands between Johor and Singapore with overlapping claims.
The matter is of special interest to the incoming Yang di-Pertuan Agong, Sultan Ibrahim Sultan Iskandar, who views it as a matter of Johor's sovereignty.
Previous governments have launched other RCIs that involved Mahathir such as the RCI on the 1990s forex scandal.
which is one of the many odious operations that looted the country to the tilt. Barry Wain’s book, “Malaysian Maverick: Mahathir Mohamad in Turbulent Times”, shows – at least US$100 billion (RM$470 billion) went missing during Mahathir’s time as Prime Minister from 1981 to 2003; read more on the exposè of the "untouchable" by financetwitter.
Articles published here and in other sites during the week, covered the following topics:
1] European philosophy exposed as ethically bankrupt
2] China and the World: perspectives and prospects
3] Gaza in the context of China's multilateral diplomacy
5] Celebrating an enduring friendship with Egypt and Tunisia
6] AI: Techno-capitalism and Digital Labour colonisation
Kindly circulate this journal as usual to your peers.
best of weekends' surfings & readings