German companies profiting from rising tensions in the South China Sea:

According to the German Handelsblatt, German companies along with French and British arms exporters are providing engines and other defence equipment to both sides of the conflict in the South China Sea, including China, Singapore and Malaysia.

While arms sales to China are prohibited due to embargoes by both the EU and the US, the EU embargo does not cover ‘components’ and ‘dual use’ equipment.   ... →

UBS-Timber-Scandal: Bruno Manser Fund informes Financial Investigation Division of Singapore

At the end of May the Bruno Manser Fund (BMF) has filed a complaint against the Swiss bank UBS over laundering money that was paid for clearing rainforests of the Malaysian state Sabah. After new evidence incriminating UBS appeared during the last weeks, the BMF now informed the Financial Investigation Division and the Monetary Authority of Singapore.   ... →

Timber-Scandal: criminal complaint against Swiss bank UBS over money laundering

The Bruno Manser Fund (BMF) has filed a complaint against the Swiss bank UBS with Zurich’s Public Prosecutor over the bank’s ties with Musa Aman, a Malaysian politician who controls logging in Sabah, a Malaysian state in North Borneo.

The brother of Malaysia’s Foreign Minister is being accused of having laundered over USD 90 million of corruption proceeds through a number of bank accounts with UBS in Hong Kong and Zurich.   ... →

Neste Oil: Finnish energy corporation involved in deforestation and land grabbing

Environmental destruction in Malaysia

The Finnish energy multinational Neste Oil is considering to expand its business in palm oil production in South East Asia and is likely to become the world’s largest palm oil purchaser and biofuel producer within 2 years.

The “green” diesel, which is extracted from palm oil, shows a CO2-balance which is even worse than the CO2 footprint caused by conventional diesel.   ... →