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Published on: Sunday, February 07, 2021
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Credit: resilience.org
THE Panama Papers, the world’s biggest leaked documents, highlighted the complex ways used by companies and individuals to conceal the actual beneficiaries of a certain company. It exposed a system that appeared to facilitate economic crime.
There were 142 politicians and their families from 12 countries that put their money into offshore accounts to hide their wealth.
The same modus operandi could also be taking place locally by securing huge government projects amounting billions of ringgits.
One way to overcome corruption and money laundering is by introducing a central registry for ultimate beneficial ownership (UBO) of companies registered in Malaysia.
LETTER | Expose the true beneficiaries of graft
Modified4 Feb 2021, 1:06 am
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LETTER | The Panama Papers, the world’s biggest leaked documents, highlighted the complex ways used by companies and individuals to conceal the actual beneficiaries of a certain company. It exposed a system that appeared to facilitate economic crime.
There were 142 politicians and their families from 12 countries that put their money into offshore accounts to hide their wealth.
The same
modus operandi could also be taking place locally by securing huge government projects amounting to billions of ringgit.
One way to overcome corruption and money laundering is by introducing a central registry for ultimate beneficial ownership (UBO) of companies registered in Malaysia. It is now time for the government to unmask the corrupt and publicly reveal who actually benefits from every company registered in their jurisdictions.
First published by Global Legal Group, January 2021.
The subscription credit and fund finance markets have remained
relatively robust over the course of 2020, though the COVID-19
pandemic has presented certain challenges for market participants.
Growth in this area over the past few years was driven in part by
expansion of the product into a broader range of fund types,
increasing take-up by fund sponsors who had not traditionally used
the product in their fund families, record levels of fundraising
and an increasing number of net asset value (NAV) facility
closings.
Overview
While certain banks have continued to increase their book of
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The subscription credit and fund finance markets have remained
relatively robust over the course of 2020, though the COVID-19
pandemic has presented certain challenges for market participants.
Growth in this area over the past few years was driven in part by
expansion of the product into a broader range of fund types,
increasing take-up by fund sponsors who had not traditionally used
the product in their fund families, record levels of fundraising
and an increasing number of net asset value (
NAV)
facility closings.
Overview
While certain banks have continued to increase their book of