How much cooking oil subsidy was lost to the syndicate?

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RM21.6 Million in Cooking Oil Subsidies Lost Over Three Years

A syndicate has allegedly misappropriated RM21.6 million in cooking oil subsidy payments over a three-year period. The Malaysian Anti-Corruption Commission (MACC) detained four company directors in connection with this alleged scheme, which involved the export of subsidised cooking oil instead of its intended repackaging and distribution.
Syndicate Profited from Subsidy Claims

The syndicate, which controlled nine companies, was reportedly able to claim subsidy payments from the government for cooking oil that was never repacked or supplied to local retailers and the public. These companies were allocated a quota of 1,000 tonnes of cooking oil monthly by the Domestic Trade and Consumer Affairs Ministry. Instead of fulfilling their obligations, the untransformed cooking oil was allegedly exported.
Embezzlement Through False Claims

Over the span of three years, the syndicate is accused of claiming and embezzling a total of RM21.6 million through these fraudulent subsidy payments. This alleged embezzlement occurred while the companies were simultaneously profiting from the export of the cooking oil. The MACC's investigation revealed that the untransformed cooking oil was collected and sent out of the country, leading to a shortage in the domestic market.
Assets Frozen Amidst Investigation

In the course of the investigation, the MACC has frozen 12 bank accounts belonging to individuals and companies involved in the syndicate, with a total value exceeding RM25 million. The four detained suspects, aged between 30 and 41, were apprehended in Selangor and Putrajaya. The case is being investigated under Section 18 of the MACC Act 2009.

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How much cooking oil subsidy was lost to the syndicate?

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