BackgroundGlobal Witness, an international NGO, has caught on video, a conversation with a Kuching-based lawyer, Alvin Chong who claimed that transactions have been done in Singapore to avoid real property gain tax.
: Is there no communication between Singapore and here?
Chong: That's why we choose Singapore. The Singapore government has a China Wall... a firewall. They will not tell the Malaysian government nothing.
GW: Is that because the Malaysian government don't ask them?
Chong: They ask them but they've been turned down. Sorry, it's none of your business... They are the new Switzerland. We operate Singapore accounts too, both personal and corporate entities."
"For $650 more, A&P offered to open a bank account to stash my fledgling operation’s money in Singapore — a country, the Web site also noted, that “cannot gather information on foreigners’ bank accounts, bank-deposit interest and investment gains under domestic tax law.”"