Consumerist: 5 Major Companies, Thugs, Bookies, Mafia Buying Up NPLs & Auctions?

Dato Jacob George

Reports indicate that Non Performing Loans (NPL) could be around RM6 Billion though this figure is denied by certain quarters.

Are major Malaysian Banks in the country involved in strategically selling o
ff NPLs to 5 major players (debt collecting Agencies) and among them, many foreigners?

Is it true that one politically connected Bank is alleged to have sold over 43 thousand NPLs to a debt collecting agency while another 28 thousand NPLs?

Are more than 63% of the victims here alleged to be Malaysian Bumiputras?

Are Bank Negara Guidelines on NPLs being followed?

Who is the ‘black hand’ manipulating the banking sector’ and creating all these injustices?

Has this matter being addressed and tabled in Parliament as it was to be in 2007 or is there a ministerial letter facilitating what could be an ‘illegal act’ as it was not tabled in Parliament as it was supposed to be?

Who is now protecting the rights, interest and hopes of affected Malaysian consumer victims?

Are Malaysian Banks now abusing their dominating positions not only through the ‘vesting order’ but through sham and syndicated auctions where there are allegations of ‘insider dealing between high officials and outsiders’, that money launderers, illegal bookies, counter band and liquor smugglers and notorious ‘Ah Longs’ and others are participating through sine biotic relationships with bank insiders?

The shocking events surrounding an 8 acre piece of land in Port Klang recently purchased by Bumiputra company Angkutan Permai (M) Sdn Bhd being sidelined through alleged syndicated auction raises many disturbing issues that if not addressed will result in the entrenchment of organized crime figures and syndicates manipulating and purchasing NPLs and ending as successful bidders in staged auctions which violates natural justice and public interest.

CASSA memorandum today to the MACC/SPRM and the Commercial Crime Division seeks to highlight the need for a special task force to monitor this sector.

There is a need to conduct an in depth probe on individuals, companies and other corporate bodies and their source of funds to curb any possibility of money laundering activities through the purchases of NPLs and properties at auction.

The Angkutan Permai (M) Sdn Bhd does raise questions whether indeed illegal bookies and others involved in organized crime are now active participants in all auctions in Malaysia!


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