Friday, December 24, 2010

Malay Intra-community Wealth/Equity Disparity: What Say Mukhriz?

Tycoon Tan Sri Syed Mokhtar Al-Bukhary has won the race to take over the Ministry of Finance’s (MoF) Penang Port Sdn Bhd (PPSB), adding the northern port operator to his maritime logistics operations.

The influential businessman already owns Port of Tanjung Pelepas and Johor Port via MMC Corp Bhd, whose joint venture with Gamuda Bhd were also named Project Delivery Partner (PDP) for the RM36 billion Mass Rapid Transit (MRT) project in Kuala Lumpur.

Syed Mokhtar also owns a slew of other businesses in the country and overseas. His companies have reported massive gearing from financial institutions. He is probably one of the most highly geared investors in the country.

Mukhriz had reportedly spoken about a need for paradigm shift in the Malay economy. Concentration of equity in the hands of a few may not be part of the paradigm shift he mentioned. How can the government create a larger class of Malay-Bumiputera business community if all major/significant privatisation projects are given to a select few?

Syed Mokhtar is a businessman/investor. Why doesn't the government consider giving the project to those who have actual experience in running a port or professionals?

Next, is it wise to pile up more eggs on Syed Mokhtar's already overfilled basket?

It looks like the government hardly walks its talk about reform of the economy.

What's Mukhriz's response to this issue?

10 comments:

Anonymous said...

syed is the posterboy and most probably the nominee for UMNO. Else, why are all the major assets and projects going to him? He is so smart, eh?

Anonymous said...

This mukhriz inherited his genes from who ?

The head cannot liberalise by thinking with the ass.

Hey mukhriz - you want malays to prosper ? Very easy just do like the chinese do - sheer hardwork and business oriented mind.

Senang Saja no need minister to say la friend.

Compete like a man

Not NEP hide behind a women's skirt.

Find your own answer and fight like a man.

Don't expect free answer and drink the breast milk from NEP anymore time to grow up like a man with balls.

By the way - Yunam haircare business is good business. You should try it out. I'd say you may be a good ambassador just like amber chia for slimming ads.

Santa clause give you good advise.
- that is if u are a good boy this year - Mr Minister

Anonymous said...

The rich malays get richer the poor malays get poorer simply by inflationary price hikes alone.When is the govmen going to help the average malays to be in middle class? Why dont we make a few hundreds middle class malays rather than 1 or 2 billionaires?Can we not give a big project to a group of hardworking unknown guys rather just 1 overfamous guy?

najib manaukau said...

And I thought that NEP is to help the poor Malays to achieve 30% of the wealth of the country ? Although they claimed to have been here long before the non Malays' arrival, what has happened with that head start ?
This policy was, is and will be used to continue to rob the non Malays just to enrich a few cronies of shenanigan Mahathir. Why can't the Malays be honest enough to say they want 110% ! AS I said many times before in due time they will nationalise the entire country assets of the non Malays !

Just remember that Myryanma did just that when it was know as Burma in the early 1960s and they are no better off to day.
The NEP is only a front to rob the non Malays to enrich the Umnoputra ! Shenanigan Mahathir alone has more than the 30% and that is why it was never be achieved during the 22 years as P.M.. The worst part is he did all that in the name of the Malay when he is not even a true Malay.
He implemented so many huge white elephants projects for that, not to assist the Malays or the nation but for his own greed. Please remember he said nothing is impossible.
May be in another 300 years ! It is about time to get rid of this (shenanigan Mahathir centred) policy because it has been achieved long ago.

Anonymous said...

This guy Syed is just a proxy to some influential backdoor politicians with dirty money and he is probably feeding them hefty commissions from his so called mega ventures and acquisitions. As if this country lack of real genuine entrepreneurs. It is always the same old characters and companies like Gamuda who seem to be eligible for all these nonsensical mega ventures.

As for Mukriz, he is nothing except a moron who does not know his up from his down, can't blame him though: it is the genes.

Anonymous said...

This Syed Mokhtar is probably a proxy for UMNO. Why would Najib want to award this business to him? He already has Johor ports in his business stable.
If you say this is business synergies but I don't see any synergies between the two ports(Johor and Penang).

Anonymous said...

WTF.,IS HE A GENUINE MALAY FIRST OF ALL?SO,DONT BE RACIST N ASSHOLE...WHY MUST RACE BE AN ISSUES HERE.,..IF THIS IS THE CASE.GOODBYE PAKATAN,THE RAKYATS ARE BORED.,.

Anonymous said...

Wikileaks:-
The Opposition Leader is a manipulated victim of the Cowadice BN Leader, who is an implicated Murderer, as he wanted the Opposition Leader to be jailed so that he can win the coming General Election without a stronger opponent thereafter will only continue to oppress the Rakyats with his selfish agenda of GST and then to be more corrupted with more projects' announcements so that he award those projects to his proxies or try to get more kickbacks from non-proxies if the projects were so awarded say the same way as the French Submarine's purchase, very soon the Federal Government Coffer will be depleted so that they will have a good reason raise the prices of Diesel and Petrol in order to cheat more money and then Sell more Government Bonds to raise more money, don't buy those bonds because they have no money to repay as they have depleted all the Funds contributed from Petronas in the 53 years of UMNO's unabated Corruptions.

Anonymous said...

Mukhriz's response? ELEGANT SILENCE of course. Soon it'll blow over....

Anonymous said...

Even when Tan Sri Syed Mokhtar won the PPSB race, he is still NOT the richest man in Malaysia.
The no. 1 most kaya men are Tan Sri Robert Kuok, Tan Sri Ananda Krishnan, Tan Sri Lee Shin Chen, Tan Sri Teh Hong Piow and the list goes on. And i KNOW that these tycoons had benefitted from NEP. Still dont understand why others are soo dengki of the Bumi's. When the Bumi's are not that rich after all. Nobody is robbing the nonMalays. its the other way around. Yes, the gov wants to create a larger class of Malay-Bumiputera business community. but evidently, these economic pie will end up in the hands of the non-Malays. How? And dont forget the nonMalays are already rich in this country.
You dont think this is fair? Might as well take a hike back to China or India. Maybe you wil be richer and treated better there.
Malaysia is for the Malays and Bumi's. This is not Cinasia or Indiasia. How the gov choose to propher the Malays are up the gov (this is lined in the Malaysian constitution. do you know that nonMalays are referred to as "kaum-kaum lain" in the Constitution?')