Henrynus Amin…Disclose Names of Loan Defaulter.
KOTA KINABALU : – Datuk Henrynus Amin has expressed concerned over recent statement by Finance Minister, Datuk Masidi Manjun, that the Sabah State Government is ready, able and willing to assume the RM5 billion financial liabilities of Sabah Development Bank (SDB).
The Parti Kerjasama Anak Negeri president said the statement about using money or assets of the state that rightfully belongs to the people of Sabah to bail out SDB or assume SDB’s financial liabilities is highly disconcerting.
“If indeed, state money or assets are to be used to rescue SDB, then the names of all borrowers or beneficiaries of the RM5 billion loans must be revealed to the public, ” he said in a statement today.
For that matter, the Sabah Minister of Finance should issue a White Paper to be tabled in the State Legislative Assembly soonest possible to disclose the names of all loan borrowers or defaulters, he added.
Those who helms the power of the state must not allow those responsible and liable to escape investigation and punishment.
According to Henrynus, the SDB’s RM5 billion financial fiasco is a huge financial scandal, a devastating failure of the state, tantamount to the 1MDB financial scandal.
“I urged all Sabahans especially the younger generation to take serious note of the facts, start asking question and demand that those responsible be held accountable,” he said.
He further pointed out that It was unfair that ordinary Sabahan as stakeholders must now bear the financial liability due to SDB’s RM5 billion NPL.
“Why should the people of Sabah be punished for the mistakes of current or past political leaders?
“The RM5 billion Non Performing Loans are a huge financial waste which otherwise would have been beneficially spent on eradicating poverty and developing rural areas,” he said.
As details of the RM5 billion scandal are reported by the press, it is becoming more obvious the RM5 billion financial scandal appears to be the result of human failure and the absence of regulatory oversight, and even possibly criminal intent by those involved.
Based on Masidi’s admission, the SDB officials had used creative accounting to hide the financial losses for many years.
Henrynus said a White Paper must investigate and uncover the accounting scandals or the intentional manipulation of financial statements.
The financial misdeeds by rougue executives of SDB or government officials must be investigated, their names disclosed or those criminally liable be brought to court to be punished.
‘I welcome MACC investigation into the RM5 billion scandal and urge them to leave no stone unturned in their investigation, ” he said.
Every transaction, big or small, potential vested interests or conflict of interest, even peculiar patterns of secrecy, dubious behaviours and questionable credit worthiness must be investigated and reported to people of Sabah through the State Legislative Assembly.
He also welcomed SDB’s ongoing court action against loan defaulters in order to recover their assets used as collaterals.
But the purpose of court action is not merely to wind up defaulting borrowers. More important antly, those individuals who may have benefitted from the RM5 billion loans must not be allowed to escape justice.
In the event of a cover up, as an opposition political pressure group, Anak Negeri will not hesitate to call for an immediate state or public intervention to ensure the rights of the people of Sabah are protected and justice served.
