Malaysia loses RM1 trillion within 25 years due to corruption

DIANA AZIS
DIANA AZIS
22 Sep 2022 04:56pm
Rais Hussin
Rais Hussin
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SHAH ALAM - Malaysia suffers losses close to RM1 trillion within 25 years due to corruption practices as well as leakage in the country's management.

Emir Research President and Chief Executive Officer (CEO) Datuk Dr Rais Hussin Mohamed Ariff said the total represented almost four per cent of the Gross Domestic Product (GDP) since 1997.

"In Emir Research we know the issue of corruption or bribery had become a community lifestyle that eventually destroyed the country, pushing the people to poverty and stealing the country's future.

"Statistics or data within 25 years show the average of two to four per cent of the money that was lost from the country's GDP was due to corruption around RM1 trillion, not millions or billions.

"Imagine if we had RM1 trillion now, the things that could be done for the people.

“Corruption has not only brought losses for the people but it contributed to the issue of food security, brain drain and other issues. This matter needs to be addressed immediately," he said.

He said this when attending a book launch titled Corruption and Hypocrisy in Malay Muslim Politics: The Urgency of Moral-Ethical Transformation at Karangkraf Media Group headquarters today.

The book, written by Prof Emeritus Tan Sri Kamal Hassan, was launched by Sultan of Perak Sultan Nazrin Shah.

Rais had encouraged those who wanted to share their research and findings with them and the public truthfully as a drastic change can be done with the efforts of eradicating corruption in the country.

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"We can no longer follow what is happening now, the trajectory of the country's economy is not great and if Malaysia did not have oil and gas our trajectory could be similar to Sri Lanka.

"For the welfare of the people as a whole we must be brave, rise up and tell the leadership that the corruption ongoing is wrong, not only from a religious standpoint but also the fact that it robbed the future generations," he said.

Sultan of Perak Sultan Nazrin Muizzuddin Shah officiated the launch of a book published by Emir Research written by an academic figure and national scholar Professor Emeritus Tan Sri Dr Mohd Kamal Hassan.