Skip to content
Menu
Wee Choo Keong
  • Home
  • Discussion
  • Parliament
  • About Me
  • Complaints for DBKL
  • Festive Wishes
Wee Choo Keong

"Probe on bribe-for-currency printing contract reveals links to people high in government hierarcy"

Posted on July 22, 2010

The above report in page 2 of the Sun was published on Tuesday, 20 July 2010.

The allegation highlighted apparently involves very senior officials of the Reserve Bank of Australia (RBA) and Bank Negara Malaysia (BNM) with undisputable links to their spouses. As this is a report by the Australian authority which will also ultimately lead to prosecution by Australian administrators themselves, this will become international news. Malaysia can ill-afford this kind of serious negative publicity which can be quite damaging to our reputation in the world community. As a matter of national interest, I urge the MACC to immediately conduct a more thorough investigation locally so that we can take steps to quickly salvage our reputaion should the alleged corrupt practice, as reported, is less than accurate.

Since the news broke out, the public has taken a keen interest in the matter and has been engaging in all kinds of speculations. I have even received rumours that the husband of a very high official in BNM is strongly implicated. But seriously, this cannot be. There’s too much at stake not only for the very high official in BNM but also the country, as BNM is the ultimate authority for all fiscal matters in Malaysia.

The public can speculate and rumour. But I personally don’t believe there’s any traction that the husband of the said very high official in BNM is involved. Not so soon at the tail of cases of the husband of Securities Commission Chairman being similarly highlighted recently. MACC should not drag its feet on its investigation as urged but perform its duty diligently to swiftly put an end to this issue.

The following is the full report published in the Sun …

Middleman quizzed
Probe on bribe-for-currency printing contract reveals links to people high in govt hierarcy

BY R. NADESWARAN AND
TERENCE FERNANDEZ
sreports@thesundaily.com

PETALING JAYA: The Australian-Malaysian connection in the bribefor-contract to print the RM5 polymer notes is coming to a close. Australian prosecutors are shifting through documents, including those from Malaysia, with a view to prosecute officials of the Reserve Bank of Australia (RBA) subsidiaries – Securency and Note Printing Australia (NPA).

Australian authorities are said to have received depositions in the form of witness statements from a Malaysian middleman who collected several millions for getting the contract to print the Malaysian currency notes.

A joint probe by the Malaysian Anti-Corruption Commission (MACC) and the Australian Federal Police (AFP) whose officers were in the country recently, led to the businessman’s detention in Kuala Lumpur.

The focus of a high-level probe by Malaysian and Australian investigators into kickbacks received by Malaysian middlemen for securing currency printing contracts in Australia has also revealed links to spouses of senior government officials.

Australian sources said the businessman was questioned on the multi-million ringgit deal between Bank Negara Malaysia (BNM) and the RBA to print Malaysian banknotes, including the RM5 polymer note. “From his statements we understand that several people high up the government hierarchy have been implicated, including, in one case the spouse of a senior official,” the source said.

MACC officials declined comment, saying investigations were ongoing. The AFP is due back in Malaysia soon to question more people, including BNM officials.

theSun had in April front-paged the investigation following an Australian government inquiry into Securency and NPA – which paid at least A$50 million (RM147.5 million) to middlemen from Malaysia, Vietnam, Nigeria and Paraguay to secure deals to print bank notes.

Australian media reported that Securency and NPA had negotiated with the agent, who claimed to have high-level political connections, in the late 1990s to lobby the Malaysian government and BNM officials to adopt the Australian-made polymer bank notes. The Australian companies won currency printing contracts in Malaysia for the RM50 Commonwealth Games commemorative note in 1998 and the RM5 polymer note in 2004.

In a statement on April 15, BNM denied using third parties to award the contract to NPA, saying it was BNM policy to deal directly with currency printers. “NPA appointed their own agent to market their services. At no time has Bank Negara Malaysia paid any commissions to third parties for its currency printing,” it said.

According to the Melbourne Age, the Malaysian businessman who was questioned also acted as a broker for a Pakistani air-to-surface bomb-making plant suspected of playing a key role in that country’s nuclear weapons programme. Some payments, the newspaper said, were made to accounts in offshore tax havens in Seychelles and Switzerland, contrary to Australian banking rules.

Accounting firm KPMG which audited RBA discovered that Securency paid A$47.5 million (RM140 million) in kickbacks to its network of agents between January 2003 and January last year. Two top executives at Securency have resigned since AFP began its investigations.

It is a criminal offence in Australian for companies or individuals to pay foreign officials to secure business advantages.

Related

6 thoughts on “"Probe on bribe-for-currency printing contract reveals links to people high in government hierarcy"”

  1. Leong says:
    July 22, 2010 at 4:36 pm

    Who is that high ranking official in BNM? I just wonder? Very interesting YB. Please tell us who is that high ranking officer. Is she the highest officer in BNM????????

    Reply
  2. Flyer168 says:
    July 23, 2010 at 2:21 am

    Just to share this….from the Sydney morning Herald

    Arms brokers won bank deals –
    http://www.smh.com.au/national/arms-brokers-won-bank-deals-20090909-fhmo.html

    RICHARD BAKER AND NICK MCKENZIE
    September 10, 2009

    THE Federal Government’s trade agency warned the Reserve Bank of Australia about using a Kuala Lumpur arms broker to help win currency printing deals in Malaysia.
    A Malaysian businessman, …….. has been a broker for a Pakistani air-to-surface bomb-making plant suspected of playing a key role in that country’s nuclear weapons program.

    He is the second arms trader to be used as an agent by one or both of the RBA’s currency firms, Securency and Note Printing Australia (NPA). Last month it was revealed Securency used an arms dealer suspected of supplying guns to Latin American drug gangs as its agent in Paraguay.

    Former business associates of ….. said he claimed to have high-level political connections in Malaysia, which he could use to help strike deals for foreign companies…

    “…a Kuala Lumpur arms broker to help win currency printing deals in Malaysia…he claimed to have high-level political connections in Malaysia, which he could use to help strike deals for foreign companies…”

    Sad indeed, to hear about Bolehland’s Powers that be, implicated “with this arms trader after Scomi, UN Oil for Food, etc, etc scandals….

    Really malu for the the Nation & its citizens…joining the ranks of the third Pariah Nations…

    More reasons for the US to squeeze our nation by the Orbs/Juglars…

    You be the judge.

    Cheers.

    Reply
  3. Flyer168 says:
    July 23, 2010 at 2:46 am

    Addendum…

    … Aussie’s broker for Bank Negara?
    Sep. 10 2009 – 12:00 am http://asiancorrespondent.com/jeff-ooi-blog/2009/09/abdul_kayum_bank_negara.php

    Cheers.

    Reply
  4. Leong says:
    July 23, 2010 at 2:35 pm

    why no one is helping me with the answer? BNM is also very quiet about this. As usual “silence is golden” like Zarinah Anwar of SC on the allegations against her and her husband.

    What is Najib doing about all these scandals?

    Reply
  5. Leong says:
    July 23, 2010 at 2:36 pm

    Don’t tell me that all these scandals happened during the Sleepy Head time! Tingkat 4 again?

    Reply
  6. whatever says:
    July 23, 2010 at 2:52 pm

    market disquite< PM's wife falls food loousy wow

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Old Blog Stats
5,037,921 hits

New Site Statistics
  • Total page views: 57,223

Recent Posts

  • Police Report Lodged Against Siew Ka Wei’s Staff Elizabeth Ken
  • Press Release On Criminal Defamation Report By Former MACC Detainee Sweeties Elizabeth Ken
  • Geeko 2.0 : A Troubling Reemergence Of An Insolvent BXC Travellers In MAHB?
  • Recap Geeko 1.0 & Emergence Of Geeko 2.0 (MAHB – BXC)
  • Temu Ramah dengan Sin Chew Daily pada 16.11.2022/Interview with Sin Chew Daily

Recent Comments

  1. Special Pussy on Geeko 2.0 : A Troubling Reemergence Of An Insolvent BXC Travellers In MAHB?
  2. Joe Chin on Press Release On Criminal Defamation Report By Former MACC Detainee Sweeties Elizabeth Ken
  3. Leong on Press Release On Criminal Defamation Report By Former MACC Detainee Sweeties Elizabeth Ken
  4. Shameless Elly on Geeko 2.0 : A Troubling Reemergence Of An Insolvent BXC Travellers In MAHB?
  5. Kamarul Former Tourism Malaysia on Geeko 2.0 : A Troubling Reemergence Of An Insolvent BXC Travellers In MAHB?

Archives

  • June 2023
  • May 2023
  • November 2022
  • October 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • November 2021
  • February 2021
  • December 2020
  • November 2020
  • June 2020
  • May 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • March 2018
  • February 2018
  • December 2017
  • October 2017
  • June 2017
  • January 2017
  • October 2016
  • July 2016
  • February 2016
  • December 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • February 2015
  • January 2015
  • December 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • July 2008
  • June 2008
  • May 2008
  • April 2008
  • March 2008
  • February 2008

Categories

  • Uncategorized
  • wangsa maju
  • wee choo keong

Site Admin

Log in
©2023 Wee Choo Keong | WordPress Theme by Superbthemes.com