PETALING JAYA: Why was a staggering RM4 million invested by the Malaysian Paralympics Council (MPC) in a company helmed by its president and his sons ?
Ahhh....another "cow-gate" family scandal modus operandi unveils.
This is the poser raised by several council members upon learning of the investment recently.
A probe by The Malay Mail revealed that in 2008, MPC had invested RM4 million in an events management company, Paralimpik Ventures Sdn Bhd.
Tell us what is new ? This type of 2 ringgit "fly-by-night" companies have been in existence since the time of the MahaFiruan Tun. Companies created for one purpose only...to channel "siphoned" funds.
Our investigations showed a cheque for RM2 million was issued on April 4, 2008, and another RM2 million was transferred about two weeks later, on April 17, 2008.
Such large sums of money transferred and no one "saw" this coming ?
The cheque and telegraphic transfer were allegedly signed off by MPC president Datuk Zainal Abu Zarin and its then treasurer, Liew Yoon Loy.
Perhaps RM4 million was a "leg-up" gift from a loving father to his 2 adorable sons who are mentally retarded. And what about Liew Yoon Loy's "cut" ?
It is understood the money was derived from donations and fund-raising activities carried out by the MPC over the years. Sources claimed nothing on the hefty investment had been heard of since.
...now you see it ..."poof"....alakazam....it's pure magic, it's gone....the RM4million dissappearing act !
A check with the Companies Commission of Malaysia revealed Zainal and his sons, Idi Irwan and Ilia Ikhwan, were listed as the directors of Paralimpik Ventures.
flashes of that cow Sharizat comes to mind !
One person not amused by this episode was MPC council member Prof M. Chandra Sekaran, who said the issue had raised more questions than answers.
Get angry Prof....get real angry and "challenge" these pirates...don't you dare back off now !
"Who allowed the investment? Was it documented? How much have we made? Most importantly, who will be held responsible if the investment goes wrong?" he asked.
MACC will help answer those questions.....and find no irregularities whatsoever and file stamped with NFA ( No Further Action)....you'll be left scratching your head...errhh or even your balls !
Chandra claimed he was approached by Zainal to invest some money in the company in 2008. Chandra was the treasurer for the Malaysian Association for the Blind (MAB) then.
"We were told it was a new scheme by Bank Negara Malaysia that promises to double the investment within a year but we at the MAB did not agree to it.
There you go....even the National Bank (i.e. the government ?) is in on this...to rob the blind ?
"Millions have been channelled out of MPC but it has not been documented. Such an investment requires the approval of two-thirds of the council, not just a handful of people."
He said there was no letter of undertaking by Bank Negara on the investment. "The manner the investment was done is unethical and we have been kept out of the loop for far too long.
....huh ?... ethics ?.... what's that ? Don't know what that means !
"Now, where is the money?"
Chandra said he was eager to raise this issue at the much-awaited annual general meeting (AGM), which could be held soon.
It was learnt the MPC had not conducted its AGM since 2005 and was only registered with the Sports Commissioner’s office in May 2008.
How can the Sports Commissioner's office register a body in 2008, that had not conducted any AGM for the last 3 years prior ? Highly irregular, no ?
MPC executive board member Lee Sheng Chow, a blind national para athlete, said the revelation caught him by surprise. "This is news to me. We had had many meetings in the past, yet this was never brought up," Lee, who is also founder and president of the Malaysian Disabled Persons Sports Association, said.
Because the shit had not hit the fan yet, buddy !
"This has to be clarified. Such dealings must be done in a transparent manner."
How do you define "transparent" to the members here ?
Zainal, however, maintained the money was secure and kept aside for the possible construction of MPC’s new headquarters.
Quick fix to an imminent scandal....resort to plan B, ya ?
Meanwhile, Sports Commissioner Datuk Yassin Salleh said MPC would be hauled up to explain the matter.
"We were not privy to such information before but once this is reported to us or even published in the newspapers, we will surely investigate.
Yeah right....only when the shit hits the fan...everyone jumps. Otherwise it's business as usual, this robbing the blind .....blind thinggy, yes ?
"I don’t want to jump the gun but we need to know why such a thing was done in the first place and who had consented to the deal."
This latest controversy has been deemed a "double whammy" for the MPC, which was in the limelight earlier this month after several national para athletes cried foul when their monetary rewards were significantly "slashed".
Ya...and like overseas "sight-seeing" tours scrapped too.
On June 16, The Paper That Cares front-paged a report on Malaysia's paralympic athletes, whom despite finishing sixth out of 51 countries in last year's Asian Para Games in Guangzhou, China, only received 30 per cent of what able-bodied athletes got in cash incentives.
That is the value in percentages the government rewards the "challenged" ones. Sigh !
Special athletes used to earn RM80,000 for a gold medal, RM40,000 for silver and RM20,000 for bronze at the regional games but when the incentives were presented to them in April, the winners only received RM24,000 for gold, RM12,000 silver and RM6,000 bronze.
Balance of incentives went "unseen" into the pockets of officials I reckon !
The National Sports Council (NSC) clarified, however, that the para athletes would be better taken care of under an incentive scheme introduced this year.
And another scandal riddled body cashing-in on the blind for further abuse, me thinks. There's a whole lot of crap coming out of the wood-work. Stay tuned for denials, finger-pointing and if all venues are exhausted, blame it as "act of God....."
Only in BN run Malaysia even God is dragged into a scandal to cover their sorry arses !