ACA can track money that changes hands in contracts

The Sun 22/9/2005

I AM a 72-year-old chartered civil engineer and was one of the founders of IJM Corp Bhd. I was secretary-general of Master Builders Malaysia for nine years and a member of the Board of Engineers Malaysia and Sirim. I am free from any business now and have time to do things I like.

I can imagine how much money changes hands between the officers involved in the contract and the contractor, the main contractor and the sub-contractors, the material suppliers, etc.

Imagine this: it is very easy to get discounts from any quoted price for any thing you want to buy.

In this case, the contract price is so big, a few per cent is a lot and only God can resist the temptation.

ACA can easily investigate this by tracing the movements of all the payments and all the people's bank accounts and their assets. The amount is too big to hide under the bed.

Koon Yew Yin
via e-mail