Saturday, January 24, 2015

Swiss NGO BMF to release ‘explosive report’ on Taib Family

January 23, 2015
CMS, a formerly state-owned company, was privatised and taken over by the Taib Family.
taib-mahmud_CMS_300KUCHING: Bruno Manser Fund (BMF), a Swiss-based NGO on the environment and human rights, will release on Monday “an explosive new research report” which details that Cahya Mata Sarawak (CMS), a Kuching-based infrastructure company, received over USD 1.4 billion (MYR 4.9 billion) in state contracts since its takeover by family and relatives of Sarawak Governor Abdul Taib Mahmud when he was Chief Minister.
The report entitled, Corruption Management Sarawak – Cahya Mata Sarawak and Malaysia’s Taib family, analyses 89 contracts granted to CMS by Malaysian government agencies between 1993 and 2013, according to a BMF release.
The contracts include the RM295 million construction of Sarawak’s new State Assembly Building (DUN) in Kuching and a 15-year contract for the maintenance of all state roads in Sarawak granted in 2003, valued at an annual RM86 million.
BMF, in the statement, asked potential SCORE (Sarawak Corridor of Renewable Energy) investors, meeting from Saturday in Kuching during the International Energy Week 2015, not to invest in SCORE as long as CMS and other Taib family endeavours are among its main beneficiaries.
“The Bruno Manser Fund calls on Malaysia to set up a Royal Commission of Inquiry to examine the privatization of CMS into the hands of the Taib family and to freeze and recover all CMS shares held by Taib family members,” said the statement.
According to Maybank IB Research, CMS is a major beneficiary of SCORE, an industrialisation programme that entails the construction of a series of controversial mega-dams in Sarawak.
CMS, a formerly state-owned company, was privatized by a series of reverse takeovers in the early 1990s.
Subsequently, it became Sarawak’s single largest recipient of public contracts.
For the past 20 years, the former Chief Minister’s family has controlled the group with eleven family members being involved as shareholders, directors or members of CMS’ senior management.
~ Free Malaysia Today

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