Sparkling profits – daughter Jamilah Taib (left) and sister Raziah Mahmud are two of the family shareholders in Kumpulan Parabena, parent company of KP Mukah Development
A loss-making Taib family company with share capital of just half a million ringgit was granted almost RM2billion in loans last December by the Malaysia Development Bank (PBMB), which is run by the Ministry of Finance using public money.
The astonishing revelation is made all the more shocking by the fact that the Sarawak Chief Minister himself has a substantial shareholding himself in the obscure company, KP Mukah Development, which only registers half million ringgit in assets.
The Directors are Taib’s favoured sister Raziah Mahmud, her husband Robert Geneid and one of Raziah’s young sons Ewan bin Abbas.
Sarawak Report risks being scolded once more for being “naughty” by Taib, in suggesting that this extraordinary and risky loan of public money to an insubstantial company owned by himself and his family should form part of the on-going investigations by the Malaysian Anti Corruption Commission (MACC).