Corruption at its best

Re: Document confirms $5.84m loan to Chinese businessman

What is Teeking Weng Coin Save using as collateral for this $6million loan? 

This is a classic example of what will happen under the LTRA2008 (lands Act) - where a foreign investor leases customary land and then use it as collateral when he makes a loan from the bank or S.N.P.F. 

And if the foreign investor fails to pay the loan back which he borrowed from taxpayers’ money, what will happen to the lease and who will pay the loan back? This is how stupid this LTRA 2008 is. This is how the H.R.P.P govt get to rob the people of their customary lands. This is corruption at it’s best. 

People need to stand united and repeal the LTRA 2008 before it’s too late.

 

Melo

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