Pembinaan PFI, a government-linked company (GLC), had been created to implement a policy called Private Finance Initiative (PFI) by getting loans from Pension funds worth RM30 billion, using government lands as collateral and sub-leasing these lands back to the government for a whopping RM29 billion!
In C4 Center’s PFI Report, we’ve divulged all the information you need to know on abusing pension funds. Some of the key revelations that you can find in the report are the act of using pension funds to finance infrastructure projects, and putting pensioners’ money at risk is something the public must be made aware of. Another critical revelation is the surfacing of a new player, the Federal Lands Commissioner (FLC). Ordinarily overlooked, the FLC’s role in the PFI scheme has shed light on how statutory bodies can be utilized beyond their original purpose to fund the government covertly and also provide gifts to former prime ministers.
Read all that and more here: https://c4center.org/wp-content/uploads/PFI-Report.pdf