FMT - Dr M: Govt must reduce wealth gap, stop sale of Bumiputera assets:
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... the Malaysian government was believed to have lost US$500 million in an attempt at Mahathir’s urging to corner the London tin market through a company called Maminco, driving the world price of tin from US$4.50 per tonne to US$7.50.
It then sought to cover up the loss by establishing a US$2 company called Mukawasa from which allocations of new share issues to the government’s Employees Provident Fund (EPF) were diverted. Mukawasa expected to sell the shares at a windfall profit to hide the tin speculation.
For more, read post stated above on Anwar Ibrahim's blog.
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From the blog of Anwar Ibrahim 28 Nov 2009 (extracts):
It then sought to cover up the loss by establishing a US$2 company called Mukawasa from which allocations of new share issues to the government’s Employees Provident Fund (EPF) were diverted. Mukawasa expected to sell the shares at a windfall profit to hide the tin speculation.
Don;t forget, I did not say it, t'was Anwar, wakakaka.
