Opposition questions sale of Bernas to Syed Mokhtar


Tuesday, 24 November 2009 Super Admin
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Written by Chan Kok Leong, The Edge 
 
Opposition members of Parliament have questioned the rationale behind letting one man control the nation’s rice imports. According to Saifuddin Nasution (Machang-PKR), Bernas will be controlled by one person — Tan Sri Syed Mokhtar Al-Bukhary — if more shares are sold to the business magnate.

"We need to know if the government has put in place certain risk mitigation mechanisms," said Saifuddin in the Parliament lobby today.

"Rice is an important commodity and food staple for Malaysia. Allowing one person to control such a fundamental item can be dangerous," he added.

According to Saifuddin, Syed Mokhtar, via Tradewinds (M) Bhd and Budaya Generasi (M) Sdn Bhd, currently control more than 87% of Bernas.

He said Tradewinds held 32% while Budaya had more than 55% of Bernas.

Saifuddin said that he was also puzzled how a paddy farmers group such as the Muda Agricultural Development Authority (MADA) and Kemubu Agricultural Development Authority (KADA), which used to have 37% of Bernas, could have pared down its shareholdings.

"According to the shareholding agreements, the first right of refusal should have been given to Bernas before it can be sold to other parties. So we are surprised that their shareholding has been sold."

The Parti Keadilan Rakyat election strategist said that the government should disclose how many shares these groups still hold and when they had sold their stakes to the Syed Mokhtar-controlled companies.

Comments (12)Add Comment
...
written by sydput, November 24, 2009 23:39:17
Better start my rice smuggling business. How? by working for Bernas. They are the biggest smugglers made legitimate by UMNO.
this syed mokhtar guy is now the largest recipient from TNB as he has the most number of power plants, the largest privately owned port owner under MMC, and married to the daughter of the guy who raped and pillage sabah, syed kechik.
muhyiddin and present MB of johore still assisting him to loot the state by acquiring other people's land cheaply on his behalf. The latest victim is Lee rubber estate, being acquired for his privately owned senai airport. mahathir sold senai for RM60 mil and after land acquisition, syed mokhtar sold theairport plus land to the company he controls, MMC for close to a billion.
...
written by Msian Idol3, November 24, 2009 23:38:02
Why the need to have one sole importer of rice ???? No competition, thus what quality we have. As usual this sweet heart deal is definitely racist & corrupt.
...
written by InEffective, November 24, 2009 23:22:12

state sponsored expropriation of the nation's food supply ?
A nation now to be held at ransom.

Concentration of the nation's assets and wealth to selective cronies.
With all costs and risks socialized over the rakyat.
...
written by Aduh, November 24, 2009 23:03:06
" One for the cronies, two for me " Besides that, it is very much easier to solicit from one single person or party. than from many.
...
written by SamBall, November 24, 2009 22:04:34
pendatang dari yemen; bumiputra konon
...
written by eloofk, November 24, 2009 20:57:02
I have also heard that Syed Botak was also involved in the CIQ Complex project at JB with the coutesy of Mamakkutty some years back.

...
written by Ghifarix, November 24, 2009 20:30:32
All be damn; TPM boy gets the whole hog.... Our rice bowl - Allah Forbid !

Syed Mokhtar self profess "Islamic" Philanthropist heading the monopoly on the Country's food resource.

Thinks he can buy-off the Malays by establishing scholarship fund with our own moneys.

Hey Syed Mokhtar; Allah says in the Holy Quran, Monopoly is dosa (Full-Stop).

Some thinketh that they are gods others believe they can fool God.

They have been stealing for so long without restraint they believe they can clean up their act through dirty /Harram offerings.
...
written by Rainbowseahorse, November 24, 2009 20:01:17
Take a good, long & hard look at his facial features and then tell me Moktar is a typical Malay....unless, of course, Malays are supposed to look like that.

Ma'alish! This is Malaysia Bolehland and anyone with enough money is a Malay!
...
written by Stupid me, November 24, 2009 19:46:13
Is he a towering 'Malay' or Syed?
...
written by Rainbowseahorse, November 24, 2009 18:46:20
"...Allowing one person to control such a fundamental item can be dangerous."

No, no, no...our government really was thinking of us poor rakyat welfare.

Unbeknown to most Malaysians, out of the goodness and kindness of his dear heart, Syed Moktar is taking away the heavy burden of rice subsidy from our government.

By doing all that selling off on the quiet, our beloved government simply do not want the rakyat to get upset over things which they do not quite understand, like the mechanics of how monopoly of a commodity is good for the rakyat.....and it has absolutely NOTHING to do with money & profits!

So it's very understandable why even the esteem Saifuddin Nasution (Machang-PKR) can be puzzled how the paddy farmers groups could have pared down their shareholdings.

So when good and kind hearted Moktar gets complete monopoly of Bernas, there is only the very...yes, very slight problem left of subsidizing good and kind hearted Moktar.
But it's a win-win situation all round as our much beloved government have only to subsidize good and kind hearted Moktar and not the entire nation...and the best part of it all is that it has absolutely NOTHING to do with money!smilies/grin.gifsmilies/grin.gif....a real win-win situation; right?
...
written by Mirage, November 24, 2009 18:41:38
How do you think he became the only Malay among the top 10 richest in Malaysia/
...
written by a guest, November 24, 2009 17:52:45
As usual, it's because he's a "Towering Malay"! Apartheid policy! Still don't want to admit it?

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