Corruption & Cronyism >>>

UMNO cronies are a vital few Chinese

NEP failed because of Alibaba business model is not a secret, everyone knows about it. Syed Mokhtar’s testimony is just a confirmation from a prominent Malay tycoon.

The former Prime Minister, Datuk Seri Abdullah Ahmad Badawi himself admitted that an astounding average of 85.37 per cent of projects secured by Bumiputera contractors goes to the other communities.

There are two myths when it comes to failed NEP.

Myth 1: The Chinese belong to UMNO’s cronies are MCA politicians.

This is not true, they are also Chinese businessmen without political background are picked as alibaba business partner.

Those Alibaba Chinese are in small number, may be in thousands compared to 6.5 million ordinary Chinese like me.

Why UMNO politicians prefer Chinese? My friend told me it’s more easy and convenience for UMNO politicians to conduct dirty businesses with Chinese.

Myth 2: Bumi shares ownership is 20%.

The actual bumi shares percentage in current market value is double than official figure released by UMNO which is based on face value for the shares.

RM 52 billion shares allocated for bumi have NEVER reached the hands of needy bumiputeras. Therefore, I urge Malay and other bumi ask this critical question to UMNO politicians in your constituency?

Where is my cheese? Mana saham aku?

The goal of 30% bumi equity ownership in the NEP already achieved, but its fair and even distribution amongst the average bumi is not materialized.

In my opinion, the total failure of NEP is all major races in Malaysia are not happy and blame each others for losing out in the NEP game.

BN’s winning formula is divide and rule, hope all major races are fighting each others and vote their own BN racist parties.

Syed Mokhtar: Malays and Chinese abused NEP

KUALA LUMPUR (Nov 20): The New Economic Policy (NEP), Malaysia’s bumiputera affirmative action scheme, has been abused by Malays and Chinese seeking easy leverage, billionaire Tan Sri Syed Mokhtar Albukhary claims in a recently published biography.

“Many Malays are to blame and so are many Chinese. Instead of retaining what was allocated to them as bumiputras, they cashed out or became brokers.

“They were enticed by the Chinese, who offered all kinds of inducements,” Syed Mokthar said in recounting his experiences as a young entrepreneur in the early 1960s.

“In my opinion, bumiputra allocations should not be sold since they were awarded to us to achieve the NEP’s 30% corporate equity target”, he added.

In the biography, Syed Mohktar points out that Malaysia’s richest men somehow trace their wealth back to political patronage and the NEP, which was launched in 1971 to grow bumiputra participation in the economy.

By the billionaire’s own admission, he was a poor Kedah-born kampung boy who seized opportunities presented by the NEP and post-Independence Malaysia’s move toward an industrialised economy.

“The NEM is about distributing the nation’s wealth more fairly. The sensitive part of it is the 30% allocation of corporate wealth to bumiputra who make up about 60% of the population.

“But there is still the larger 70% that is available to the Chinese, Indians and foreigners,” the low profile 60-year-old tells author Premilla Mohanlall.

The biography, published by pVm Communications, paints a picture of a simple man who still drives around in his old Proton Perdana despite being ranked by Forbes as the seventh richest man in Malaysia with a net worth of US$3.3 billion.

Friends in high places

From his early days dabbling in transportation and rice trading, Syed Mokthar’s business empire swiftly expanded to shoe and garment manufacturing, shipping, property development and agriculture.

But it was in his rice trading days that Syed Mokthar made friends who would eventually take on influential positions. They include deputy prime minister Tan Sri Muhyiddin Yassin and former Perlis mentri besar Datuk Seri Shahidan Kassim.

In the 1990s, Syed Mokhtar became an active corporate investor buying into public listed companies and acquiring state-owned enterprises from the government’s privatisation policy.

By 30, Syed Mokthar became a millionaire.

Though he was well connected to government officials, Syed Mokthar only met the then prime minister Tun Dr Mahathir Mohamad for the first time in 1997.

He described the encounter as the “most unnerving 70 minutes of my life” as he had to explain all his business interests to Mahathir.

This came amid incessant rumblings that Syed Mokthar’s success was due to his friendship with Muhyiddin, who was then the menteri besar of Johor.

Eventually, Syed Mokthar won over Mahathir and the two men began what the biography described as a “mentor-mentee” relationship that would extend beyond Mahathir’s days in office.

But Syed Mokthar found himself distanced from the leadership when Tun Abdullah Ahmad Badawi succeeded Mahathir as prime minister, prompting Syed Mokthar to venture to the Middle East for opportunities.

Syed Mokthar’s journey was certainly not smooth-sailing. He was badly hit by the Asian financial crisis in 1997 which wiped out RM2.4 billion in value from his assets to about RM600 million.

After the crisis, Syed Mokthar bounced back and entered the big league with his acquisition of Malaysia Mining Corp Bhd (now MMC Corp Bhd), Perbadanan Nasional Bhd or PERNAS (now Tradewinds Corp Bhd) and DRB-Hicom Bhd in the 2000s.

In recent times, Syed Mokthar has been criticised for controlling too many strategic sectors including several ports, postal operator Pos Malaysia Bhd, national carmaker Proton Holdings Bhd and rice trading firm Padiberas Nasional Berhad (BERNAS).

No Ali Baba deals

The third of seven children, Syed Mokhtar’s first taste of business was helping out in his father’s cattle trading business until the venture fell on hard times.

Syed Mokhtar dropped out of school just months away from completing Form Five.

He started a lorry transportation company called Syarikat Kenderaan Sentosa in 1972, which was awarded four lorry licenses under the bumiputra quota.

Syed Mokthar claims that he turned down offers by Chinese businessmen to enter into a “Ali Baba” arrangement, where a Malay takes up bumiputra equity allocated to them but trades it off to a Chinese to run the business.

Later in life, Syed Mokthar would come to realise that there were politicians and decision-makers who were happy to be “pawns” in Ali Baba arrangements, overlooking qualified bumiputra businessmen.

“Even though I had the experience and the money, people in power deliberately chose to ignore this. They did not want to give me or other bumiputra businessmen the opportunity to prove ourselves.

“Instead, they decided that there were no qualified bumiputeras and recommended non bumiputeras to take over government entities established to realise NEP targets. This was sad and disappointing,” Syed Mokthar said.

This story first appeared in on Nov 20, 2012.

The comment board with Facebook account.
Mojo says:

Syed Mokhtar is the new Tajuddin Ramli as a means to transfer public money (profitable assets, licenses, monopolies and companies from government) to the pockets of Umno cronies. These cronies are speeding up the plundering of the nation’s wealth, emptying as much as fast as they can and busy stashing them overseas for fear of outcome of the GE13.

Cerita-Cerita Syed Mokhtar Al-Bukhari Dan Kita

May justice see the light of the day soon for the rakyat and this beloved nation and the evildoers in BN be punished for their cr1mes!

hamzah says:

Alibaba Malaysia ?????

Saya nak makan nasi lemak,
beras dibeli dari siapa? – BERNAS!
BERNAS milik siapa? = Tan Sri Syed Mokhtar Al-Bukhary

Makan nasi lemak, takkan tanpa minuman, so order kopi 0.
Air buat kopi, jika tinggal di Johor beli air dari Aliran Ihsas Resources,
Aliran Ihsas Resources milik siapa? = Tan Sri Syed Mokhtar Al-Bukhary.

Minum kopi mesti campur gula
Gula di Malaysia, dua pengeluar sahaja MSM & MSR.
MSM milik felda, 20% saham dimiliki Tan Sri Syed Mokhtar Al-Bukhary ;
MSR milik Tan Sri Syed Mokhtar Al-Bukhary sepenuhnya

OK, cakap banyak sekarang nasi sudah sejuk, mahu panaskan
Guna gas stove, Gas Malaysia milik siapa? = Tan Sri Syed Mokhtar Al Bukhary

Guna microwave oven, elektrik, TNB beli elektrik dari siapa? = IPP.
IPP terbesar di Malaysia ialah Malakoff.
Malakoff milik siapa? = Tan Sri Syed Mokhtar Al Bukhary

Sekarang tak nak makan nasi, pergi McD sahaja la… naik motor
Motor Kriss, keluaran MODENAS.
Modenas milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.

Tak nak naik motor, naik kereta. Kereta apa? Proton.
Proton milik DRB HICOM.
DRB HICOM milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.

Tak nak beli Proton la. Beli Honda saja.
Honda Malaysia milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.

Beli kereta nak buat pinjaman perbankan islam, pergi Bank Muamalat.
Bank Muamalat milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.

Kereta kena ada insurans coverage.
Insurance beli dari siapa? = Uni Asia Insurance
Uni Asia Insurance milik siapa? = Tan Sri Syed Mokhtar Al Bukhary

Nak ambil road tax, kena pergi PUSPAKOM.
Puspakom milik siapa? = Tan Sri Syed Mokhtar Al Bukhary

Ok la tak nak naik kereta. Naik keretapi lagi senang
Landasan keretapi siapa buat? = MMC.
MMC milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.
Sekarang, Tan Sri Syed Mokhtar Al Bukhary pun nak ambil alih KTMB

Ok tak nak guna keretapi ambil kapal terbang saja la… nak pergi Johor!
Senai Airport milik siapa? = Tan Sri Syed Mokhtar Al Bukhary

Tak nak ambil keretapi, kapal terbang, naik kapal laut sahaja la.
Pergi Pelabuhan Tanjung Pelepas.
Tanjung Pelepas Port milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.
Tak nak pergi Tanjung Pelepas, pergi Johor Port.
Johor Port milik siapa? = MMC.
MMC milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.

Ok la… I orang KL, naik MRT sahaja la… (apabila siap)
Projek MRT, siapa kontraktor terbesar? = MMC.
MMC milik siapa? = Tan Sri Syed Mokhtar Al Bukhary.

Macam ni la… tak nak keluar rumah langsung!
Duduk rumah, hantar surat sahaja!
Apabila nak hantar surat, kena lekat setem!
Apabila kita lekat setem sahaja, kita sudah bayar Tan Sri Syed Mokhtar Al Bukhary, kerana POS Malaysia pun sudah diswastakan kepada Tan Sri Syed Mokhtar Al Bukhary.

Tahniah Tan Sri, You earn this all, on your own!!
Malaysia is not Malaysians anymore, its YOURS!! Entirely yours!

Kerajaan Rakyat mula berkenalan dengan Syed Mokhtar sekitar 1989 di Johor Bahru semasa beliau baru-baru berusaha untuk merapatkan dirinya dengan Tan Sri Muhyiddin Yassin yang ketika itu adalah Menteri Besar Johor dengan tujuan untuk mengambil-alih Johore Port.

Hasnim says:

Kroni Umno dapat untung.
Yang lain bodoh sokong Umno.

Roy says:

At the Umno Assembly recently some Umno delegates were in tears during the singing of the song ‘Warisan (Anak Kecil Main Api)’ by Arif Yassir Zulkafli. The song was about how the Malays continue to be deprived of their land and wealth, presumably by the non-Malays.

Wah Lao! after 40 years of the NEP and the Umno’s leadership, the Malays are still crying over the loss of their land and wealth? Maybe they are refering to the loss of Felda land after FGV listing?

Why can’t they see that it is their own leaders who are depriving them through all their corrupt practices, rather than the non-Malays?

nkkhoo says:

UMNO supporters are like anti-Lynas Green Perkasa, they already make up their mind on what they believe in is a truth.

Darren says:

Syed Mokhtar is UMNO’s proxy for the UMNO bigwigs. The money was parked under Syed Moktar by those top Umno guys.

No need to waste time and money on his biography.

Aidil Yunus says:

Syed Mokhtar’s biography is #1 on MPH best-seller list.
So many are reading his ‘success’ story to emulate his succes factors! Have you read the book, Mr nkkhoo? only RM20 only.

Anyway Syed Mokhtar’s Puncak Semangat is the new entry to telecommunication business, and MCMC will grant it the 4G (2×20 MHz bandwidth spectrum) licence.

So nkkhoo can use this 4G service for faster internet!!!

nkkhoo says:

I better make better use of RM 20 for other purpose.

psykongkia says: