I notice that a group calling themselves ‘British Victims of Investing in Malaysia’ have protested in London over funds they lost in Doxport Technologies Sdn Bhd, a firm reportedly owned by former Umno treasurer-general Abdul Azim Mohd Zabidi.
This reminds me of other investors in Australia and New Zealand who lost their retirement savings in a trust company in Labuan. They were left in a lurch.
When questioned in Parliament by Klang MP Charles Santiago in 2010, former deputy finance minister Awang Adek had said he would ensure the Labuan regulatory body provided a proper response to the investors about the status of their investments. But the retirees are still in the dark – with no sign of their money.
Can someone tell me what purpose the ‘Labuan International Business and Financial Centre’ serves?
Does anyone remember the Bank Islam losses in Labuan in 2005?