Former Prime Minister and Patron, YAB Dato Seri Dr. Mahathir Mohamad
“Today, with a membership of over 9,000, the Club has been acknowledged as the most active and established club in the country.Founded on August 16, 1890, the Royal Lake Club is centrally located in Kuala Lumpur amidst the luscious and green Lake Gardens. Today, as envisioned by the former Prime Minister and Past President, the late Tun Abdul Razak, the Club is the country’s premier club. As one of the oldest and leading social club, the Royal Lake Club has always played an eminent role in setting standards and in maintaining its own strict code of excellence. Its membership reflects this and it is not surprising that both the membership and the evolution of the Club have been closely associated with the progress of our society”.
And true to its claim that “the Club have been closely associated with the progress of our society,” a society which is today diseased with corruption and riddled with kleptocratic individuals with their own personal interests at heart, the Royal Lake Club management has become corrupted, with corrupted high profile individuals misusing club funds for their personal benefits and is now a club experiencing integrity decay. Today, the affairs of the Club are not professionally and ethically managed with the interest of its members at heart.
Let us begin with the RM371,720.36 of payments made in 2016.
In 2016, the Lake Club paid RM371,720.36 in legal fees for four legal matters taken up against Club members and Club staff. There was no approval for payment for these fees and neither were these payments reported to members in the 2016 Annual Report nor noted in the 2016 audited accounts. Processing time from invoice/request to payment took not more than six days. In one instance, payment was made in one day.· Legal fees paid are not provided for in the 2016/2017 budget nor was a special budget request submitted to the General Committee. As such, it would appear that the payments did not comply with the financial procedures of the Club. It appears that the legal fees paid were effected by cheques without the approval of the General Committee of 2016. The present General Committee has Instructed Club Solicitors, MIS Shook Un & Bok, to commence legal proceedings to recover the sum of RM 371,720.36 from the three signatories of the cheques. In addition, the Club has spent another RM300,000 of good money to chase after bad. That means a total loss to-date of close to RM700k.
Question: What actions have been taken by the Legal Committee and the General Committee to recover these payments which did not comply with the financial procedures of the Royal Lake Club?
To Be Continued.