Yong: Proceed with investigations on Saham Amanah Sabah

SAPP President Datuk Yong Teck Lee comments on the State Government injection of RM 200m in Saham Amanah Sabah (SAS) as investment as approved by the Sabah State Legislative Assembly today August 25.

1. The authorities must proceed with investigations on the so-called fiasco on the Saham Amanah Sabah unit trust that had previously reportedly caused losses of hundreds of millions of ringgit. Only after a clear and final investigation into the SAS affairs to punish culprits, if any, will the confidence of investors in SAS be restored.
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2. If this confidence is not fully restored, then there is no assurance that the so-called fiasco over SAS investments will not be repeated in the future and thereby putting the long awaited government investment of Ringgit 200 million injection at risk.
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3. According to PBS leader Chin Tek Ming in a news report on 25 June 2007, he had falsely accused me as being the cause of the losses suffered by SAS investors by virtue of me being the Chairman of SAS. In fact, I was never Chairman or even a member of the SAS Board of Directors.
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4. After the accusations by Chin Tek Ming, which was master minded by a State Cabinet Minister from PBS, SAPP had lodged police report on 26 June 2007 to call for criminal investigations on the SAS issue. SAPP had identified two persons (Chin Tek Ming and Minister Datuk Dr. Yee Moh Chai) as possibly in possession of relevant information, facts and materials of possible crimes and offences committed in SAS because of their repeated statements in the SAS issue.
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5. SAPP Treasuer General Datuk Wong Yit Ming had also called for White Paper to reveal the whole truth on SAS activities. But this call for a white paper has not been accepted by the State Government.
   
   Issued by SAPP: HQ (25/08/2008)

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