Bmf Scandal Of Scandals

In our current age of big business, it seems that everyone is looking for ways to make more money, acquire more power, and be more successful. However, from start-up companies to corporate empires that stretch back centuries, the temptations of greed and power often lead to corruption, fraud, unfair business practices, loophole-hunting, and even murder. The often shocking nature of business culture and society's fascination with it puts corporate scandals in the spotlight every year around the world. We've gathered the stories from some of the most unbelievably bold, brilliant, and ultimately doomed corporate scandals in history, giving you a fast-paced ride through the dark side of big business.

Lim Kit Siang has been fighting on the forefront of Malaysian politics since the late 1960s. Uncompromising in his mission to pull the country away from systemic race-based politics and all the ills that stem from the sustainment of these over five decades, he was jailed twice without trial. His persistence saw him and his followers well placed to participate in the surprising resurgence of political opposition over the last 15 years. Since 2008, his Democratic Action Party has grown greatly in strength, and together with its allies, has been able to seriously challenge the ruling coalition. This book captures the spirit of Lim’s life, and describes the grim yet gratifying journey that his refusal to compromise on his political convictions forced him to take. It is the tale of a man who felt he had no choice, and consequently, whose impact on his country’s history is great. In that sense, his story is also a narrative about a country that has yet to fulfil the great promise that it holds

Bumiputra Malaysia Finance Limited (BMF) was a financial institution set up in Hong Kong at the end of 1977. Its parent bank was the Bank Bumiputra Malaysia Berhad (BBMB) which was established in 1965 with public funds to promote Bumiputera participation in the economy. In the 1980s, during Mahathir Mohamad’s administration, BMF lost M$2.5 billion, allegedly due to fraud and corruption, which could not be accounted for until today. After about 35 years, another similar colossal financial scandal was alleged to have taken place through 1Malaysia Development Berhad (1MDB). 1MDB is a development company set up by the Malaysian government in 2009, during Najib Razak’s administration, with a focus on the long-term economic development of the country. However, within about eight years, it has run up more than RM42 billion in debts and key figures are tainted by allegations of abuse of power and corruption. It is therefore timely to revisit the BMF case, to discuss and compare it with the present interest in the 1MDB case. This book will highlight the alleged fraud and corruption that took place in both cases – tracing the money trail, the problematic structure of both organisations, the political and social structure and environment in Malaysia during the occurrence of both scandals, and finally compare both cases, to provide an analysis of the social and political progress of Malaysia in the last three decades.

This book uses the concepts of rent and rent-seeking to study Malaysian political economy.

In this first critical, multidisciplinary assessment of recent privatization in a developing country, the contributors offer valuable lessons for the comparative study of denationalization and related public policy options. After an introductory survey, the volume presents broad perspectives on the context, formulation, and adjustment of privatization policy in Malaysia. The contributors review the distributional implications of specific privatizations for the public interest as well as for consumer and employee welfare. The book concludes with an examination of the economic, political, and cultural impacts of the privatization of physical infrastructure, telecommunications, and television programming.

This 7-volume set reissues a range of classic out-of-print texts that cover a host of issues that have contributed to the development of modern East and South East Asia. With titles covering economics, politics, history, anthropology and security, this set provides the researcher with an essential resource on the region.

Thomas B. Pepinsky examines how coalitions and capital mobility in Indonesia and Malaysia shape the links between financial crises and regime change.