Taib Share Shock ! – Exclusive
By Sarawak Report
Sarawak Report can reveal that the Chief Minister, Abdul Taib Mahmud, has a major personal shareholding in Sarawak’s highly controversial Royal Mulu Resort, a project that has received huge injections of cash from the State. This means that, as both Chief Minister and Finance Minister, Taib has authorised the diversion of large sums of public money straight into his own pocket.
As State Resources and Planning Minister, Taib was also responsible for the forced acquisition of a large area of Native Customary Lands from the indigenous Berawan tribe to build the resort, for which the tribes people received virtually no compensation. Our evidence therefore further exposes him for having authorised this land-snatch for his own direct benefit.
His shareholding is in a company that was incorporated as recently as November 2007, Mesti Bersatu Sdn Bhd. This in turn has a 50% shareholding of the Taib/Mahmud family company Kenyalang Cergas, one of the main shareholders of Borsamulu Resorts Bhd (BRSB). BRSB was handed the ownership and lucrative management contract for what was once a state-owned National Park, thanks to a series of decisions by Taib’s own government starting in 1991. The management contract is paid for by the taxpayer!
In the money! – a decade ago the Geneids had nothing, now they are the toast of Malaysia’s Tatler Ball 2010!
The other major beneficiaries and shareholders of the Royal Mulu Resort are members of his family, including his sister Raziah, her third husband Robert Geneid and the family of his late brother Arip Mahmud. Taib Mahmud has personally accused the Berawan people of being “greedy” for refusing to hand over their lands for ‘development’. Their peaceful protests in the 1990s were brutally put down by army and police and their leaders were imprisoned. Deprived of their territories, these communities are now impoverished and hungry and few people, apart from the Mahmud family, will have difficulty in discerning where the true greed lies.
This time it’s on record
The significance of this official confirmation of the Chief Minister’s own shareholding lies in the fact that Taib has normally sought to disguise his acquisitions and shareholdings in an attempt to avoid widespread allegations of corruption. He habitually uses members of his own family to hold shares on his behalf. Thus, the names of his many brothers and sisters, his late wife, his four children, nieces, nephews, cousins and in-laws are prominent as key shareholders in most of Sarawak’s important businesses.
Insiders have also told Sarawak Report that the elderly Chief Minister has employed a number of other devious methods to keep control of such companies until he is able to extract his wealth and invest it secretly abroad. These methods include forcing his nominees to sign undated resignation letters and share transfer forms, which he can use at any time to force their removal and employ somebody else as his front man or ‘nominee’!
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