Minister in the Prime Minister’s Department Abdul Wahid Omar has dismissed the report by Global Financial Integrity (GFI) saying that he “absolutely disagrees” with the report and explained that Malaysia is a major trading nation which has a lot of multinationals.
Abdul Wahid Omar could not be more wrong; in fact he is the one who is churning out the “same excuses” to dismiss and rubbish the GFI report.
Among the list of world largest countries by exports in 2013, Malaysia is ranked at 21 behind countries like United States, Germany, Japan, France, South Korea and Netherlands. Abdul Wahid Omar must explain how is it possible that Malaysia which has a trade export 6.82 times smaller than the United States could record such an astronomical amount of RM1.38 trillion (USD 394.87 billion) of illicit capital outflow since 2003?
The only plausible and sensible explanation is that this amount is lost through crime and rampant corruption. The GFI report is also consistent with the annual auditor-General Report which has highlighted big incidences of corruption and the many mega scandals which has been exposed by Pakatan Rakyat leaders.
Abdul Wahid Omar also tried to downplay the GFI report by saying “We already explained last year, I think we don’t need to explain again. These people, they keep coming out with the same things again and again.”
The reason GFI keep coming out with the “same thing” because Putrajaya has done absolutely nothing but looking for excuses in the past 6 years to curb the illicit capital outflow since GFI published its first report in 2008.
There has been a total silence from Najib since the GFI report is made public two days ago. Is Najib taking his sweet time to come out with new “creative” excuses to dismiss and downplay the GFI report?
The GFI report proved that Najib has utterly failed in his fight against corruption. Huge amount of money continue to be siphoned out of the country under his administration.
This astronomical amount lost through illicit capital outflow is scandalous and shocking. With world crude oil prices tanking and the Malaysian Ringgit in a freefall, the continuous capital flight from Malaysia could only spell disaster for Malaysia economy.