KUALA LUMPUR (Feb 21): Malaysia cannot afford to allow more siphoning of illicit money out of the country, and hence authorities should not "take it lightly" in investigating these activities, especially those implicated in the Pandora Papers, said Prime Minister Datuk Seri Anwar Ibrahim.

“This kind of action requires a clear political determination. There were not many voices to take [Pandora Papers] seriously, including in the past administration. There were no pressures from political leaders, to the extent there was reluctance to take action, because it involves prominent figures in the country,” Anwar told the Dewan Rakyat on Tuesday (Feb 21).

Anwar was responding to Datuk Seri Dr Noraini Ahmad (Barisan Nasional-Parit Sulong), who requested the former to state Putrajaya’s stance on Pandora Papers.

“What happened was a complex web that was so sophisticated, using trust, shell companies from Singapore, to Bahamas and Cayman, most of them for the purpose of tax evasion. There are legitimate activities — that is why I said investigations are needed,” said Anwar.

“What I can guarantee is those agencies report to me. My instruction is clear. Don’t take it lightly, take this as a lesson, and this country cannot afford to allow this to continue,” he added.

Anwar, who is also the finance minister, said he is satisfied with the impartial investigations conducted so far, with certain individuals being summoned to explain money stored offshore. 

Anwar also opined that it is important for the Ministry of Finance to improve transparency in its tendering process to stop further leakages from the country.

“The practice of using this excuse of helping Bumiputera by taking money cannot be continued. 

“There are policies to help Bumiputera. We can also have limited tenders among Bumiputera. These are not prohibited, but we cannot use the excuse of helping Bumiputera to ask corporates to give money to individuals or [political] parties, like what was practised before,” he said.

Anwar also urged fellow Members of Parliament to not take sides or protect criminals who have siphoned money out of the country.

“Pandora Papers mentioned over 3,000 names. Some are legitimate. All these need investigations. I urge fellow MPs and friends, all 222 of you, to take a firm attitude. Don’t protect anyone by disputing immediately whether it is a politically motivated action.

“If monies up to hundreds of billion or million ringgit were siphoned out, yet we ignore and protect them because they support us, it will be disastrous to the country,” he said.

Although many names were mentioned, Anwar said investigations will focus on prominent figures like former PMs and finance ministers.

Among the agencies involved in the ongoing investigations include Bank Negara Malaysia, the Royal Malaysian Police, Malaysian Anti-Corruption Commission, National Anti-Financial Crime Centre, Inland Revenue Board, and Labuan Financial Services Authority. 

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