Overseas investors fume in London … and Australia

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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?

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Yang
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Yang

As I have said many times the … Cheap is a dumb PMor playing dumb

KTWong87
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KTWong87

Malaysia Chronicle had an item which featured some photos of the irate victims. See:

NAJIB ‘HIDES’ as irate British investors demand JUSTICE at World Islamic forum
http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=181011:british-investors-embezzled-in-msia-demand-justice-from-najib-at-world-islamic-forum&Itemid=2#axzz2jD4MttPM

Andrew I
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Shame you can’t label these people as homos to contain the problem.

najib manaukau
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Are you guys out there getting sick of the scandals and deceits reveal daily in this Malaysia, especially when most, if not all these involved someone from the warlords of Umno ? It would appear these Umno warlords have now grown immune to them, as a mater of facts they are not only have grown immune them to them and they are now committing these … openly because of the impunity they are enjoying. In order to stop these rots from going on and on, the only way to stop them is for all those so called partners in BN… Read more »

Yang
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Yang

They have cheated the people and now they have gone one step further. International Cheating. It has become the trade mark of ammu. Soon we will go down the drain where no investor will be coming here. Indonesia, Thailand, Vietnam, Phillippine & Cambodia that once lagged behind us in FDI are now ahead of us. Frankly, I would rather park most of my money in Singapore than here

looes74
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looes74

Like I have mentioned in one blog, it reminds me of CLOB saga