Bomoh Su’ut has Hundreds of Millions in Samling Shares – Exclusive
Sarawak Report
The profitability of the business of being a Bomoh has clearly been vastly under-estimated. Sarawak Report has now established that Taib’s spell-monger is in fact one of the wealthiest men in Sarawak! We can demonstrate that he personally owns hundreds of millions of ringgit of shares in one of the world’s biggest timber companies, Samling Global.
Samling, which claims to be the world’s largest supplier of tropical plywood, began as a family company belonging to Yaw Teck Seng and his sons in Sarawak. However, after decades of close relations with Taib Mahmud it has expanded across the world. The company’s latest Annual Report states that its consolidated global assets are worth $1.3 billion USD (around RM 3 billion) and this is at a period of very low market value.
The timber giant, which made its money cutting down the Sarawak rainforests thanks to the concessions granted by Taib, floated as a public company in 2007 on the Hong Kong Stock Exchange. However, just a few weeks ago the Norwegian Government banned any further investment in Samling, after investigations showed the company to be involved in illegal logging and environmentally destructive activities. There have been numerous complaints by native peoples across Sarawak over Samling’s greedy plunder of their lands.
Bomoh’s shares worth RM 300 million!
Our investigations show that most of the company is still owned by the Yaws with only just one other major shareholder registered as holding over 5% of the company’s shares in 2010. This major shareholder is none other than Taib’s own Bomoh!! Bomoh Ahmad bin Haji Su’ut is listed as the owner of 5.5% of shares in Samling Global with a total ownership of 225,592,070 shares, which he holds in the name of his company Tapah Plantations! Did he get these shares by magic?
