Killing a Melayu tycoon...

Posted: 13 Nov 2013 11:18 AM PST

Syed Mokhtar al-Bukhary is a big name in Malaysian business, and the fact that a Malay/Bumiputra has achieved a 'billionaire' status is unbelievable to many, especially those who all this while thought no 'Melayu' could come close to becoming a millionaire.

Inshore and offshore, Syed Mohktar is the envious of many, including some foreign tycoons like Choy Kam Lok and Li Ka-shing of Hong Kong and Mohammad al-Moudi of Saudi Arabia whom I met at a world business forum recently.

However, it is sad to note that in Malaysia, some parties are sharpening their knife on him by launching series of attacks on him and his fleet of companies. They batter him with pseudos, bad disposition and uncompromising onslaught to undermine him - the only surviving 'Melayu tycoon' we have today after the abrupt demise of Tajudin Ramli and Halim Saad's business empires.

Is there a cahoot among the Opposition leaders and their anti-BN and anti-Melayu media to put a check on Syed Mokhtar?

I am not at all surprised by Kinibiz writer Jose Barrock's jotting on Syed Mokhtar because I don't remember him giving a single credit for Syed Mokhtar's achievement.
This is not including the stakes, sources say belong to him, but where he doesn't surface such as in Bina Puri Holdings where Syed Mokhtar's private company Jentera Jati Sdn Bhd has 15.91%, in the construction company, translating to a market value of some RM19.73 million.
There are also other companies such as Megaplace Sdn Bhd a private company linked to his brother Syed Azmin Mohd Nursin @ Syed Nor which has 23.57% in Amtek Holdings Bhd, which has a market value of RM2.77 million.
While these two do not add much to his net worth (considering his shareholding in MMC and DRB amounts to RM7 billion) it does give some form of indication of how the tycoon managed to remain below the radar for so many years.
The pro-opposition media is fond of questioning Syed Mokhtar's success stories to the 'leeway' he receives from the government. In other words, they can't just simply believe that the businessman's achievement do come from, partly, his own hard work and business practicality.

However, I am taken aback at how Opposition Leader Anwar Ibrahim (a Melayu) too lambasted Syed Mokhtar for amassing his wealth by means of 'government's assistance and monopoly', referring to Bernas.

Monopoly too has been the favorite terminology to make Syed Mokhtar feels that he has been aided with a walking stick by the government. And people like Jose Barrock and Anwar Ibrahim had never questioned the monopoly license given to Astro boss Ananda Krishnan and others who monopolise their business empires.

Why must so many attention given to Syed Moktar, a press-shy person and not among the top 5 Malaysian billionaires listed by Forbes?

Its all for one agenda - to halt the birth of more Syed Mokhtar in Malaysia's business circle. Even Anwar himself did not like the idea of having more successful Malay businessmen!
How was it that one individual is now allowed to gain monopolistic control over our strategic rice business when this could be potentially harmful to the stability of future prices which was original intent of BERNAS' privatisation?
Why has the government digressed from its original intent in the formation of BERNAS which was to protect the interests of bumiputera farmers, distributors and BERNAS workers? Is the equity ownership of these people in BERNAS not worthy of the government's protection, yet ultra-wealthy, politically connected individuals get all the privileges?
How were the latest acquisition of BERNAS worth RM 477 million, and the combined acquisition of Tradewinds Plantation and BERNAS worth RM 1.173 billion by Tan Sri Syed Mokhtar's other companies (Perspective lane, Kelana Ventures, Seaport Terminal and Acara Kreatif) made possible by Maybank IB? How was it possible for one individual to continuously and successfully obtain massive repeat loans from the same bank?
We condemn the recent spate of opportunistic acquisitions by Tan Sri Syed Mokhtar as his intent to take full control over BERNAS at the time when its rice imports monopoly was to continue until Jan 2021, since these would result in mainly profiting one person, namely himself.
And just read what Anwar and Tony Pua said about the cut in sugar subsidy, something they said would make Syed Mokhter richer.

This is the typical Pakatan Rakyat response, in particular from the Chinese DAP supporters. And this is why Pakatan Rakyat is losing a bit of Malay support -- that from the middle ground, although PAS still has good support from the Malay heartland. Malays are beginning to see the opposition spin take on racial overtones.
For example, Pakatan Rakyat leaders, in particular those from the DAP, like to whack people like Tajuddin Ramli, Syed Mokhtar Al-Bukhary, Daim Zainuddin, Dr Mahathir's children, and whatnot. Granted these are Umno cronies. In fact, they are Umno nominees and we find out later that they are actually fronting for Umno. But why single them out for attack?
For every Umno crony there are dozens of Chinese corporate personalities who make money through their Barisan Nasional connections. Name me a Chinese tycoon and I will show you their links to Barisan Nasional. From the time of the first Prime Minister, Tunku Abdul Rahman, Chinese businessmen have used their political connections to make money.
According to this blog:
It's a plain strategy at the moment; to destroy a man who is well known, they will destroy his name first. It is quite strange to see how, in Kedah, the pas government distributes sugar (labeled Gula Padang Terap) to certain poor people of their choice and at the same time labels Syed Mokhtar as an UMNO crony.

This, after they requested free sugar from Syed Mokhtar and he contributes them as charity. Worse among all, PAS even distorted fatcs about the al-Bukhary Complex in order to justify their means and ends to take the waqaf land, destroy Madrasah Salihiah for the purpose of building a sewage treatment area for a new shopping complex.

How one-eyed can these impostors of religion be?
I guess the Malays have always been a patient group: they can only stand and watch Malay sundry shops close down with the advent of Chinese Association-sponsored Chinese grocery shops in the early 20th century.

They have seen how their economic power was driven down by the Chinese and every attempt to improve their economic situation like the New Economic Policy was always protested by DAP. DAP always wanted equality, but plays dumb when Malays talk about economic and wealth equality. Then again, we are talking about a racist socialist party, the DAP.

Also read Big Dog on similar issue


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