British protesters descend on Najib in London over failed investment

October 30, 2013

Prime Minister Najib Razak addresses the World Islamic Economic Forum in London yesterday. - Reuters pic, October 30, 2013.A group calling itself British Victims of Investing in Malaysia (BVIM) yesterday protested outside a convention centre in London where Prime Minister Datuk Seri Najib Razak was attending a business conference.
The group, made up of 60 families, came to voice their disappointment in the investigations of a fraud case in Malaysia.
Comprised of bus drivers, small business owners and city workers, they protested for 4 hours - from 5pm and 9pm - at the Excel International Convention Centre, the venue of the World Islamic Economic Forum (WIEF), of which Najib is the patron.

They lamented lack of action by Malaysian authorities against Doxport Technologies Sdn Bhd, which they said embezzled £2.5m (RM12.7 million) from the investors in 2008.

In 2011, the disgruntled investors lodged complaints with the Bukit Aman police headquarters, the Malaysian Communications and Multimedia Commission and the Companies Commission of Malaysia.
Doxport Technologies chairman and director was Datuk Seri Abdul Azim Mohd Zabidi, who was once the Umno treasurer. The managing director was Sivalingam Thechinamoorthy while Gurmeet Kaur was listed as a director.
The protesters said they were under the impression that Malaysia had "secure and accountable business system', and as such, had expected to profit from their investment. Their money was invested into purchasing Telekom switches and equity in Doxport.
They said the police report in 2011 was lodged after discovering that there were no such Telekom switches operating in Malaysia.
Earlier this year, the group filed a lawsuit against Azim and the company.
Azim was chairman of Bank Simpanan Nasional from 1999 to 2009, and vice-president of the World Savings Bank Institute from 2006 to 2009. He was also the director of Kuala Dimensi Sdn Bhd, the company at the centre of the scandal-ridden Port Klang Free Zone (PKFZ) project.
BVIM also issued a statement, questioning Malaysia's "rule of law" in protecting foreign investors.
“It is ridiculous that after more than two years since we lodged a criminal case in Malaysia, that no charges have been made or people arrested. I will tell all my friends, colleagues and the people I meet never to invest in Malaysia,” said Steve, a bank worker from London.
Another investor known as Mohammed said he had spent his life savings on the failed investment.
“I invested my life savings because I liked Malaysia, my family is really suffering and it seems the law means nothing in Malaysia. I hope no one invests in Malaysia and suffers like us," Mohammed, a bus driver from London, said.
On their website, the group pointed out that it had already met Najib along with former prime minister Tun Dr Mahathir Mohamad, Datuk Mukhriz Mahathir and other Malaysian politicians and dignitaries over the last 3 years to highlight their case.
They said investors, accompanied by British House of Lords member Nazir Ahmed, visited Malaysia to meet Najib to get an assurance that they would be given justice.
"PM Najib promised that this would be the case. In addition, when PM Najib visited the City of London to promote Malaysia as a place for inward investment, several investors met him and were assured that any police investigation would be fair," the website said.
The group, backed by 15 British MPs, also voiced their concern about the "safety" of British investments in Malaysia. - October 30, 2013.


Claiming duped by ex-Umno treasurer, British investors storm London in protest


October 30, 2013

A group of British investors attempted to bring their grievances to Prime Minister Najib Razak today. Pictured is a screenshot of the group's website at www.britishvictimsofinvestinginmalaysia.org.ukA group of British investors attempted to bring their grievances to Prime Minister Najib Razak today. Pictured is a screenshot of the group's website at www.britishvictimsofinvestinginmalaysia.org.ukKUALA LUMPUR, Oct 30 — A group of British investors who suffered heavy losses in a Malaysian telecommunications scheme braved the St Jude storm in London yesterday to highlight their case to Prime Minister Datuk Seri Najib Razak who was in the UK capital for the 9th World Islamic Economic Forum.

The British investors — comprising bus drivers, small business owners and city workers —  accused Malaysian authorities of dragging their feet about pressing fraud charges against former Umno treasurer Datuk Seri Azim Mohd Zabidi.

“The BVIM (British Victims of Investing in Malaysia) stated at the protest their disappointment at the length of time it is taking for justice to be done in Malaysia with the criminal fraud case they have launched already in its second year of investigation!” BVIM said in a statement today.

“With no results for over two years coming from the Malaysian AG (Attorney-General) and Public Prosecutor, the BVIM asked: If there is any rule of law in Malaysia for foreign investors? If British investment in Malaysia is safe?” they added.

Sixty British investors sued Azim and his IT company, Doxport Technologies Sdn Bhd, last February for allegedly misappropriating US$4 million (RM12.6 million) in 2009.

The suit was filed at the Kuala Lumpur High Court against Azim, Doxport Technologies, director and CEO Sivalingam Thechinamoorthy, and accounts department staff Gurmeet Kaur.

The 60 British investors had invested about US$4 million (RM12.59 million) purchasing Telekom switches and equity in Doxport Technologies in January 2009, when Azim was the Umno treasurer then, according to their lawyers.

The investors subsequently lodged a police report in 2011 after realising that no such Telekom switches were operating in Malaysia.

Their lawyer, Hasnal Rezua Merican, said last February that the police have already sent investigation papers to the Attorney-General’s Chambers after investigating the case for 14 months.