Bomborra Media
Sarawak Tycoon ‘Avoids’ Aussie Tax Bills

Published on Apr 28, 2013 by Luke Hunt

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FAR EAST CORRESPONDENT — One of Asia’s richest tycoons has avoided tax on tens of millions of dollars in profits from Australian property deals over the past two decades.

Onn Mahmud – brother of the billionaire chief minister of Sarawak – has used an elaborate global financial network to export his earnings from a portfolio of Sydney commercial and residential properties worth an estimated $100 million.

Read more from Mark Baker in The Age.