Sabah corruption – another reason why the ringgit is weak

WE need not reason too much to see why the ringgit is on a downward cyclical trend against major currencies. The millions stashed away in the homes of two top Government servants in Sabah’s Water Department will give anybody an inkling of why the ringgit continues to weaken against major currencies.

There is a major “leakage” in the system. And it is the result of a systematic breakdown in the processes that allows for corrupt practices to happen. In a nutshell, it contributes to money going out of the system, hence the continuous downward trend of the ringgit.