The DAP has raised the issue of MARA Inc's "controversial" purchase of 3 properties in London, and of MARA officials being convicted for false claims and forgery, as well. (CLICK HERE). MARA'S property portfolio in Australia and UK totals $600 million. This financial scandal that broke out in Melbourne may well turn out to be the very tip of a huge iceberg of corruption, fraud, abuse of power and CBT.
|$ Million||$ Million||$ Million|
|Dudley International House||66||52||14|
|746 Swanton St.||138||75||63|
|333 Exhibition St.||99||69||30|
|51 Queens St.||72||53||19|
Even in Malaysia, most businesses will invest in property by incorporating a subsidiary company for each property, in view of RPGT, corporate tax, capital allowances etc. Often, properties are sold by transferring the shares of the property company to the buyer. Much depends on the tax implications, and the number of shareholders. There is nothing intrinsically sinister or illegal in these modus operandi.
According to newspaper reports, MARA has over 1,000 students in Australia - some 300 in Melbourne and 500 in Sydney alone. This must be costing MARA millions annually, excluding the cost of students sent to UK, USA etc.
When the Arab Spring exploded, our Ministry of Education revealed that it had to evacuate over 4,000 students from the Middle East. How may of them were from MARA? Wtf are so many of our youth doing in the Middle East? Where from, and how, does MARA, a wholly government owned, but autonomous body set up by Parliament, get the funding from, to venture so extravagantly overseas?
MARA is short for 'Majlis Amanah Rakyat' which translates as 'Peoples Trust Council'. The element of 'Trust' seems pretty much tainted, tattered and torn today. While many citizens are finding it increasingly difficult to bridge the widening gap between income and runaway inflation and expenditure, some seem to be living it up, while others loot an plunder from ill-guarded public coffers. While many are struggling to finance the tertiary education of their children, some with lesser educational qualifications are the beneficiaries of a 'cradle to grave' taxpayer funded system, at the expense of others.
Is this the 1Malaysia PM Najib dreamed of, one that is a horrible nightmare, like 1MDB?
The inflated ego, false pride, greed and megalomaniac ambitions of a demented prime minister who has set in motion a government of thieves, has filtered down to those below. They are not going to be satisfied with their more than generous salaries, allowances and pensions. They want Bill Gates' wealth without the entrepreneurial effort. They are not going to work hard and slog to get rich. They have been given the nod to grab with both hands while the gravy trains chugs by.
And that will inevitably lead to chaos, economic destruction and disaster, unles we, THE PEOPLE, put a stop to it, NOW!!
Donplaypuks® with the peoples' money, man!