(Harakahdaily) - Parti Keadilan Rakyat supreme council member Zaid Ibrahim yesterday rapped property tycoon Liew Kee Sin over his assertion that Malaysian Chinese businessmen fared well under the New Economic Policy, saying the only ones who benefited from the policy were a few tycoons closely connected to UMNO.
“Through this system (NEP) which was corrupted by UMNO leaders, there are quite a few Chinese who have made it very big because of the NEP. These include Vincent Tan, Francis Yeoh, the young 28-year-old Jho Low (Low Taek Jho) and Liew Kee Sin of SP Setia fame.
"How did they do it? We should know so that we can learn and so that other Chinese can emulate them,” Zaid said in a blog response.
Liew was quoted as telling the Chinese community that it was only pragmatic for Chinese companies to link up with Malay companies as business was all about profit, not politics.
“We’re in business. Our job is to make money,” he said.
Zaid, who is the former de facto Law minister, said Liew was a product of NEP because of his ‘right’ connection which brought him to his present wealth.
"He was an officer at a small merchant bank. But he knew how to move in the right circles. He befriended two lawyers - Rashid Manaf and Zaki Azmi (now the Chief Justice).
"Wasn’t SP Setia previously owned by SPK which was controlled by Mahathir’s friends Abdullah Ahmad (Kok Lanas) and Ramli Khushairi? And Liew became a shareholder with Rashid and Zaki? Didn’t they say that SPK used to belong to UMNO leaders and civil servants?
"Yes, Liew is a NEP success story,” said Zaid.
Earlier, DAP's Petaling Jaya Utara member of parliament attacked Liew for his 'hypocrisy'.
“(I) have no respect for Tan Sri businessmen who don't care if the country goes to the dogs, as 'our job is to make money' and 'profits'...no time for hypocritical Tan Sri businessmen who'll bitch about the country in private, but beg to carry the balls of Umno in public,” Pua twitted.
'Mahathir's nephew' identified
Zaid said in the same manner, Berjaya Corporation chief Vincent Tan and millionnaire party boy Taek Jho Lo were also products of NEP.
Zaid said Tan was able to convince then Prime Minister Dr Mahathir Mohamad to allow his gambling business to flourish, with Mahathir’s nephew, who headed national news agency Bernama then, as his partner.
The identity of Mahathir’s nephew referred by Zaid was immediately clarified by Ahmad Mustapha Hassan, who admitted that he was the person indirectly mentioned by Zaid in his blog.
Ahmad Mustapha went on to reveal a deal between him and Tan that he was promised for a return for 15 percent of the shares of Sports Toto for his services in the privatisation of Sports Toto.
“Without my initial input Sports Toto would not have gone Vincent’s way. How he has forgotten this and how he has gone on to renege on his promise to allocate 15 per cent of the shares of Sports Toto to me,” he was quoted as saying.
RM700 million up in thin air
On Jho Lo (left), Zaid said the 28-year old was present during the launching ceremony of 1Malaysia Development Fund by Prime Minister Najib Razak.
He added that Jho was vacationing with Najib in Monte Carlo last year and two weeks ago in St Tropez, showing that the young millionnaire too had the "right" connection with UMNO leaders.
Zaid said according to foreign reports, Jho managed to convince Najib’s administration to guarantee the 1Malaysia Development Fund by raising RM5 billion on a 30-year Islamic notes at coupon rate of 5.75%, which was 1.6% higher than what a normal debt sovereign risk of a country like Malaysia would give.
“Why pay the extra 1.6 to 1.7% on a RM5 billion loan over 30 years which means an extra interest payment of about RM2.4 billion?" he asked.
Zaid said speculation was rife among banking circles that the Fund's annual accounts showed only RM4.3 billion of the RM5 billion remaining on its books.
"Wonder how that RM700 million was spent? There we are – Jho Low, another success story of NEP,” he quipped.
written by bloodhound, September 08, 2010 23:01:34
(certain parts are extracted from: lynn, September 08, 2010 20:35:43 )
Oi, you, ibrahim,
Where are you?
We need you to burp now & make a speech against these chinese cronies who took your 67%.... was that the figure you quoted?
make a speech against these chinese cronies who took your 67%
make a speech against these chinese cronies who took your 67%
make a speech against these chinese cronies who took your 67%
your 67%
your 67%
your 67%
Make a police report too and scream for the ISA against these Chinese tycoons who openly admitted that they had benefited from your 67%
Make a police report too and scream for the ISA against these Chinese tycoons
Make a police report too and scream for the ISA against these Chinese tycoons
Hello, Ibrahim Ali????? Anyone home? Anything up there?
How come so quiet now?
Afraid to speak out against UMNO connections, eh??
Scared of UMNO cronies?? Lost your voice?
Bloody coward! Bloody hypocrites!
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written by Democrats, September 08, 2010 21:56:52
Open tender :
Indian - RM1million,
Malay - RM2million (bumiputera rights)
Chinese - RM3million, 1mil for you, 1 mil for me, 1mil to subcontract to the indian.
Your guess is as good as mine who get the contract .....
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written by Revolution, September 08, 2010 21:09:48
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written by davidquellsgoliath, September 08, 2010 20:42:07
You are perfectly right.
The political warlords & their fawning scumbag-hanger-ons enriched themselves by what is known as the conspiracy of the unholy alliance. This demonic cabal used the NEP mantra to pull the wool over the eyes of the rakyat. masses. Much of the brain-washing was perpetrated by the half-Indian of Kerala ethnic origin.
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written by lynn, September 08, 2010 20:39:57
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written by lynn, September 08, 2010 20:35:43
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written by Voter get Voters 1, September 08, 2010 19:31:21
Without any connections these bastards are NOTHING....their hard work n sweat?...my foot lah. Thousands of other people of all races are just as hard working as them.
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written by cty, September 08, 2010 19:08:10
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written by bloodhound, September 08, 2010 19:04:58
Now that you know why the majority of the Malay community are still living in poverty, you can also identify where your monies (monies belonging to you) had gone to.
Don't you think those monies should be returned back to you? You now know who are the Chinese, Malay or Indian filthy rich tycoons' who had taken what should have belonged to you all. Some of them, had even had the audacity to publicly/openly acknowledged such windfalls arising from the NEP
Do not blame the Indian or Chinese communities for your lives in poverty. The majority of the Indian and Chinese people worked hard for their comforts in life It is just those few who managed to take advantage of the NEP who are abusing the funds meant for the Malay community resulting in your continuing your lives in poverty.
You know where the monies are and you can trace where such monies have gone to. Those who had managed to abuse the NEP or through corruptions or abuse of power and had managed to accumulate wealth which they cannot account for are where your monies should be. Don't you think those monies belongs to you?
Shouldn't such wealth attained under questionable circumstances be returned to the nation's coffers to be distributed to the disadvantaged communities of the country?
Assets or wealth which cannot be accounted for or even if could be accounted for but if could be traced to reveal such wealth were gained as a result of any abuse of power or corruption or unholy deals, these monies or assets should be returned to the nation's coffer.
When the wealth of the nation were excessively lavished upon certain selected few individuals, then, when such individuals had achieved success, they should be expected to help/assist those of lesser means to advance/progress out of their life poverty and not continue to leech on the the NEP system.
When such individuals had achieved a life of comfort, should it not be expected that such lavish spending to assist them should stop and the funds should then be used to help other of lesser means?
Why should those who are already successfully assisted and who are now no longer poor, be able to gain access to hugh discounts for their assets accumulation when they are already are wealthy? These hugh discounts/savings should instead be applied to assist those poorer brothers and sisters. Do not let those who can afford a decent living, continue to leech the system at the expense of their poorer brethens.
So, if you know who is holding wealth beyond their ability, perhaps, you should be asking this question - do any of such assets or wealth belong to the nation's coffer and should it not be returned in order that the more deserving could benefit from it?
Was the NEP abused in the process of gaining such wealth or assets and if so, should they not return what rightly belonged to the people instead of blaming the whole Indian, Malay or Chinese communities?
You all should better target those who abused or took unfair advantage of the NEP or those who abused their power or are invoved in corruption in order to actually identify and quantify what should rightly belong to the people.
This way, you will actually be able to seek direct redress instead of being misled by the politicians or interested parties who would like the rakyat to just target unknown, unquantifiable and unidentifiable targets by encouraging them to look at issues from a race perspective instead of who are the bad guys who had benefited from their misdeeds.
If you seek redress looking at generalisations by race, religion or communities, then, most likely you will not be able to get any redress because suing/targeting a community is like grasping thin air. But if you can target certain individuals, then, there is a case to be answered and if proven, it most likely could result in a positive outcome.
The gist of the story is to target the right individuals and not the communities in order to achieve closures.
Targeting communities like the Indians or Chinese or Malays is never an intelligent option because there could never be any foundation for a solid case. This is what the guilty/interested parties would dearly want the attention to be directed at especially to gain political influences or divert attention away from the guilty ones.
Once you target the individuals, then, there is certainty which is definable and finite leading to probable results. Make them pay for their misdeeds. Stop them abusing the NEP/NEM
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written by onnetline, September 08, 2010 18:43:29
It goes without saying that these ' connected ' and ' crutch given ' shitheads are paid through the NEP system to say such things !
Or else how to stay connected and enjoy the wealth stolen from the poor and needy Malays or Malaysians ?
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written by hellosunshine, September 08, 2010 17:56:52
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written by pixieface, September 08, 2010 17:18:06
gosh !!! these corrupt freaks' complex are lacking of self esteem and hard up to rub shoulders with the
jones.
What over sized egos they possessed ????
Are there any vacant rooms in TR
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Happy family ...Why should they care of us ??? We always complaint , we always hungry , we always black , yellow , brown ,,,We always confuse , sensitive ,,,We always remember what they did wrong ( to be continued)
Better go show off where people don't even know to show Malaysia on a map ... " Oh ya!!! Singapore ??"