Now might be a useful time to recall what happened to high-riding Enron and its auditors Anderson. It goes to show that we cannot always trust the auditors, even if they happen to be big reputable ones.
After all, who pays their fees? The client. So are the external auditors really independent? You tell me.
This field was a legacy of nutmeg planter David Brown, business partner of James Scott, who in turn was a business crony of Francis Light. It was given to the Penang public as an urban green space. In the past, Penangites would play football, fly kites, jog around this space.
It is to our collective shame that we have allowed this crisis to engulf us in the very year that Asean is supposed to set up its much touted Asean Community.
First of all, how did this crisis happen?
This story is by blog visitor tunglang:
November, 1997 – There was excitement circulating in the air about a wonder of Nature in Bukit Kukus, Paya Terubong: a newborn natural waterfall @ Sun Moon City (low and medium-cost apartments). I couldn’t believe my ears; so I went to investigate one fine afternoon.
Many of these questions raised by the Edge have been asked before, but it is neat to have them all here, summarised in a few pages.
In some ways, the 1MDB saga was inevitable. A little snowball – a culture of lack of transparency and accountability to the public – was set in motion about three or four decades ago. Over the years, it gathered momentum, picking up scandals along the way, pummelling whistleblowers, sucking in the nation’s financial resources until finally bursting into the monster avalanche that is 1MDB today.
Dr Mahathir has drawn a large crowd, many of them Umno members and opposition supporters, to an Ipoh hotel. They are listening attentively to what he has to say about 1MDB and the misuse of public funds.
Have a look at this documentary by Aljazeera.
And check out Aliran’s Crackdown Watch list of those targeted by the authorities.
Remember the Jelutong dump site? At one time, there were plans to create an urban park for the people. But now, PDC is requesting for proposals to redevelop the site, presumably for mixed development.
Similarly, over in Tanjung Bungah, the state government announced in 2010 the soft launch of a coastal park at the site now popularly known as the Sore Thumb, because it juts out into the sea following some (illegal?) development and reclamation work.
“In Johor alone, there are around 336,000 new private residential units in the pipeline – more than the total number of private homes in Singapore.” That is what a report in the Insider has highlighted.
