Maminco-Makuwasa Affair

Maminco was a company setup to buy futures contracts to drive up price of tin. When that failed, to cover up the losses a company called Makuwasa Securities was setup to use EPF funds to create profits from sales of undervalued shares.

Date Issue Occurred/Started

Date Issue Ended

Financial Cost

Corruption Details

This issue needs some links or scans to the original sources from 1985, in order to be opened.

This source is a parliamentary request that should be in the hansard by Lim Kit Siang:

http://bibliotheca.limkitsiang.com/1986/11/28/request-to-prime-minister-to-produce-cabinet-meeting-records-of-oct-26-1980-and-8th-july-1981-and-the-agreement-between-maminco-and-marc-rich-to-establish-genesis-of-maminco/

Indirect sources:

http://wtfreport.wordpress.com/2011/12/10/past-scandals-the-maminco-makuwasa-affair/
http://bibliotheca.limkitsiang.com/1987/04/30/epf-has-lost-some-10-million-in-its-investment-in-supreme-grand-united-and-pan-electric-loan-stock-shares/

Persons directly implicated

Persons indirectly implicated.

Mahathir Mohamad

Persons supporting

Organizations implicated

Makuwasa Securities Sdn Bhd

Maminco Sdn Bhd

Persons against

Persons disclosing

Lim Kit Siang

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Maminco-Makuwasa Affair