Sunday 9 August 2015

Malaysian Abbreviations


B-)

If you are a Malaysian, you'll probably be very familiar with these abbreviations by now... ;p For my overseas readers, these are some of the many issues that has happened in Malaysia for the past few months even years... :nod: 

1st April 2015 saw the implementation of GST (Goods and Services Tax) in Malaysia. Prices for many items has increased. Many believe that the tax was implemented to pay for the money lost in 1MDB investment. (Source: Unknown)

1MDB (1 Malaysia Development Berhad) is a strategic development company, owned by the Malaysian Government to  to drive strategic initiatives for long-term economic development for the country by forging global partnerships and promoting foreign direct investment :twocents: (Source: Wikipedia) 

Sarawak Report is an investigative online news portal which reported on the 1MDB and eventually uncovering the transfers of RM2.6 billion (USD 700 million) into Malaysian Prime Minister Najib Razak's personal bank account. Wall Street Journal has also reported on this story. You can read it on Google by searching "Wall Street Journal Malaysia" or "Sarawak Report"

As of to date, Mr Najib Razak has claimed these are false allegations and it is part of a political sabotage. The funds are a donation and the donor cannot be disclosed. 

As a Malaysian, I care for this country and hope that the truth will be made known soon... :reading:

But of course, VPN stands for Virtual Private Network... ;)


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