While Najib Perpetrated The Biggest Scam Ever, His Cousin Scams Mindef. Family of Thieves?

Boustead Naval Shipyard, which was awarded the LCS contract, is a subsidiary of Boustead Holdings which is 59.4% owned by LTAT. The project for the construction of the 6 ships, originally valued at RM9.128 billion, was signed in 2014 with the first vessel to be delivered in 2019. It was the largest single defence procurement project in Malaysia’s history. Everything, it seems, quickly went wrong after that.

According to reports, although the government paid out some RM6 billion, not a single vessel has been built.

What’s worse, close to RMI billion cannot even be accounted for.

Both the Public Accounts Committee and the Auditor-General found that the project was riddled with questionable payments and mismanagement. Several individuals involved in the project were arrested by the MACC.

Investigations are continuing.