____________________________________________________________

“When people define a situation as real, it is real in its consequences.”

(W.I. Thomas, Polish sociologist)

And so it is with Malaysians. When we perceive someone to be a crony, it has real consequences.

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Bread: Gardenia and Massimo

THE UBIQUITOUS SYED MOKHTAR AL-BUKHARY

Sugar is sweet but it’s now RM2.84@kg (or Sex, Sugar & the PM)

IS PETRON MALAYSIA A CRONY COMPANY?

…

20 August 2018

..

LIM GUAN ENG ON THE PRICE OF SUGAR

“Take sugar for example. The world price is set at RM1.40 per kg, but the retail price in the country is RM2.90 per kg.”

Lim said that Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail would announce the new pricing for sugar.

https://www.malaysiakini.com/news/439642

..

…

New Straits Times‏ @NST_Online

Sugar refiners say there is no monopoly in Malaysia

“In addition, the industry is adversely affected with illegal activities such as sugar smuggling and infiltration of illicit sugar which are threats to matters concerning halal, quality control and other mandatory certification requirements.

“These are ongoing challenges that the sugar industry in Malaysia has to contend with. Nevertheless, the local refiners are committed to provide a stable environment for the consumer whilst maintaining highest standards of sugar quality even at the current controlled price,” it said.

https://www.nst.com.my/business/2018/07/390102/sugar-refiners-say-there-no-monopoly-malaysia

…

25 Nov 2016

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Sugar and MSM Malaysia Holdings Berhad (MSM)

MSM Malaysia Holdings Berhad (MSM), incorporated on 10 March 2011, is Malaysia’s leading refined sugar producer. It was listed on the Main Market of Bursa Malaysia Securities Berhad on 28 June 2011 and is one of the top 50 prominent companies on Bursa Malaysia with a market capitalization of RM3.5 billion (as at 2015).

Principally, MSM operates the sugar business of Felda Global Ventures Holdings Berhad (FGV). It produces, markets and sells refined sugar products. The company conducts its business principally through two operating subsidiaries, MSM Prai Berhad and MSM Perlis Sdn. Bhd. which were established in 1959 and 1971 respectively. In addition, MSM also operates a logistics company – MSM Logistics Sdn. Bhd. and a trading company – MSM Trading International DMCC, based in Dubai, United Arab Emirates.

http://www.msmsugar.com/profile/corporate-profile

…

Government studying sugar price trend following request to raise sugar price

JOHOR BARU: The government is conducting a study on sugar prices due to requests from sugar producers following the increasing cost of raw sugar, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin.

He said discussions on the matter had been going since last month. “The government will observe the world sugar market price trend as it can rise and fall and occasionally remain stable so that it will be easy for us to calculate,” he told reporters after chairing a Hawkers and Petty Traders Consultation Council Meeting here today.
..
Hamzah was asked to comment on MSM Malaysia Holdings Bhd’s request to the government to raise sugar prices by 20% because cost of raw sugar was said to have increased by 40% since the beginning of this year and this had created an impact on the company’s profit margin. — Bernama

…

…

Good or bad cronies, grateful or ungrateful, the scenario has changed for Chinese cronies favoured by Dr Mahathir. Today, UMNO linked Bumi companies will get the favors.

18 July 2014

YAHOO! NEWS MALAYSIA

Chinese crony tycoons facing more hostilities to do business in Malaysia

The Malaysian Insider 

For several of Malaysia’s Chinese crony industrialists, it is no longer business as usual.

Long favoured in the awarding of lucrative government-infrastructure undertakings, juicy long-term concessions and business licences, the country’s well-connected business groups are facing opposition in securing deals in an increasingly hostile commercial environment with the return of race-tinged policies.

Prominent examples are tycoons Tan Sri Francis Yeoh of the YTL Group and Tan Sri Vincent Tan Chee Yioun of diversified conglomerate Berjaya Group.
…

Yeoh’s YTL…was recently dropped from a multibillion dollar power-generation project.
..

Now, his group’s move to play an active role in a multibillion dollar high-speed train project connecting Kuala Lumpur and Singapore also hangs in the balance, government officials say.

Tan of Berjaya Group…is facing a different kind of pressure.

A government plan to spend over RM1 billion to build a massive incinerator plant with an estimated capacity of close to 1,000 tonnes is threatening to undercut his huge sanitary landfill project located outside Kuala Lumpur.

For all the details:

https://my.news.yahoo.com/chinese-crony-tycoons-facing-more-hostilities-business-malaysia-103007320.html

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THE GRATEFUL AND THE UNGRATEFUL

Is Abdul Rahman Dahlan, Minister of Urban Wellbeing, Housing and Local Government, calling Vincent Tan a ‘good crony’ but Francis Yeoh a ‘bad crony’?

…

—

Note the words ‘TSVT did not do what another tycoon did recently’.

TSVT is Tan Sri Vincent Tan while another tycoon could only be Francis Yeoh.

…

VINCENT TAN ON DR MAHATHIR’S HELP

“Over the last 30 years, I and my Berjaya Group of Companies have received our share of opportunities from the government which has helped us grow to become the diversified conglomerate that is Berjaya Corporation today.

“I am forever grateful to Dr Mahathir and the government of Malaysia for the opportunities which I have received,” he said.

Tan also noted that the present government under the leadership of Najib Abdul Razak continues to support this policy of growth and innovation which augurs well for the future development of corporate Malaysia.

“Malaysia has been good to me and my family and I wish to give back some of my good fortune to help our less privileged Malaysians.

Malaysiakini, At least Vincent Tan is grateful, says minister
(http://www.malaysiakini.com/news/268722)

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To YTL

Dear Crony Company

What have you ever done for bumiputeras?

Yours sincerely

Malay Economic Action Council (MTEM)

..

And also, what did YTL give back directly to the people, especially the bumiputeras, through employment?

…

Malaysiakini

10:17PM Jun 19, 2014

What is YTL’s contribution to bumiputera, asks NGO

From Malay Economic Action Council (MTEM)’s side, we ask Yeoh as managing director of YTL Corp to prove their innocence. Prove that they were not cronies.

Specifically, we demand proof from Yeoh himself that YTL Corp had lost out in the past, especially during the establishment of independent power providers (IPPs) in the 1990s.

In Yeoh’s own statements quoted by the media, crony capitalism has been around for 20 years. And yet, he denies that he was a crony, terming his company as being “innovative” instead.

If so, he should prove his so-called innovation.

Subsequently, Yeoh should prove that whatever contracts he received had trickled down to benefit all Malaysians, bumiputeras especially, and not just his own family and enterprise.

Are there any wealth sharing prospects that YTL pushed forward for the bumiputeras, or was it simple “innovative cronyism” on the part of the company and its managing director?

In its 2013 annual report, YTL Corp registered a revenue of almost RM20 billion, with profits after taxation of RM1.8 billion. Its equity attributable to owners of the parent company was RM13.3 billion.

So, what did Malaysians and the bumiputeras get from YTL in terms of the equity worth RM13 plus billion? What did Malaysians get from YTL’s vendor development programme (VDP) and subcontracted works?

And also, what did YTL give back directly to the people, especially the bumiputeras, through employment?
…

Yeoh and YTL needs to ask themselves; after all that the government has given him through directly negotiated contracts in the past and even currently, what he done to address wealth disparity among Malaysians?

Or is it people like him who has widened this gap?

Coincidentally, we have to ask ourselves; how is it a company like YTL can receive billions of ringgit in contracts while a struggling small and medium bumiputera enterprise cannot even secure a RM10,000 loan from Teraju or Pemandu or even Tekun Nasional, all of the government agencies set up to assist everyday Malaysians, particularly the bumiputeras?

MTEM urges YTL to account for what it has done to help the nation and address wealth sharing.
…
There are many Malaysian companies that exists today after benefiting from directly negotiated contracts worth hundreds of millions during the economic downturns with the government that never paid back the piper.
…

All these companies, YTL included, benefited one way or another from the government’s good graces in the past but have yet to pay the favour forward, in this case by addressing income and wealth disparity in Malaysia.

To those companies, MTEM challenges all of them to come out and admit it.

From our side, we would be happy to host a roundtable session with Yeoh and other companies of similar calibre, to discuss disparity in Malaysia which MTEM considers a national agenda.
MOHD NIZAM MAHSHAR is CEO of the Malay Economic Action Council (MTEM).

http://www.malaysiakini.com/letters/266252

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Malaysiakini

The multi-billion dollar project would have cemented YTL’s status as an independent power producer (IPP) well into the future.  YTL has been a pioneer IPP since 1993 but has recently been bashed for profiting handsomely from its power sales to TNB and muscling in on the industry through government favours.

1:32PM Jun 18, 2014

YTL drops out from power project following pressure

YTL Power International Bhd said today that it has dropped out from a directly-awarded power plant project in Johor so that it can avoid any public misconception.

Among others, all four workers’ unions of Tenaga Nasional Bhd (TNB) had urged the government-owned entity to cease all ties with YTL Corp.

Together with SIPP Energy Sdn Bhd and Tenaga Nasional Berhad, YTL Power was part of a consortium specially chosen by the Energy Commission last month to develop a 1,000MW – 1,400MW combined cycle power plant in Pasir Gudang.

“We are thankful to the government for having confidence in YTL Power, as part of the consortium, to deliver the project on a fast-track basis.

“However, in view of the misconception over the Project, YTL Power has decided not to participate in the project under the present arrangement to dispel any misgivings over the government’s commitment to transparency and good governance,” the company said in a press statement.

http://www.malaysiakini.com/news/266054

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Would you call this cronyism?

Keluarga kakak dpt NFC RM250j, adik dapat konsesi UiTM RM1.5b. UiTM tanggung beban sewa tahunan @anwaribrahim pic.twitter.com/KsL9Ynu57y

…..

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MORE FALL OUT FROM FRANCIS YEOH’S I’M NOT A CRONY REMARK!

It is uncertain if the government awarded the 4A power plant in Johor to appease the powerful and well-connected members of the Sultan of Johor-YTL consortium.

YAHOO! NEWS MALAYSIA

A controversial multi-billion ringgit Johor power plant deal is coming under close scrutiny as part of a backlash against tycoon Tan Sri Francis Yeoh’s now famous speech on cronyism and widespread concern over legislation that would have given the Sultan of Johor executive powers in the state, say sources.

Yeoh’s YTL Power International Bhd, the Johor ruler’s SIPP Energy Sdn Bhd and national electricity provider Tenaga Nasional Bhd have been awarded the Track 4A combined gas cycle project that could generate up to 1,400 megawatt (MW) of power under a controversial directly-negotiated deal.

There have been allegations of secretive meetings in London attended by officials from the consortium and a senior minister of the Najib administration. Also being openly talked about is the involvement of a family member of Prime Minister Datuk Seri Najib Razak in the promotion of the new IPP or independent power producer.

But it is only in recent days have the press started lifting the veil on the award of the project. At the same time, members of the Energy Commission have been on the defensive over the award of the Track 4A power plant through direct negotiation, instead of conducting an open tender.

This latest development is largely due to Yeoh’s infamous comments that Malaysia must do away with crony capitalism and take advantage of its ethnic diversity to gain greater economic achievements and compete globally.
…

At the same time, there is concern about the Johor ruler, Sultan Ibrahim Sultan Iskandar, who was in the news last week over his role in a housing and property board law that some say would lead to the throne being involved in government decisions. A slew of last minute amendments to the proposed enactment limited the ruler’s role but the new law has yet to be signed into effect.

Barisan Nasional (BN) sources say Putrajaya is making overtures to the state ruler to find another partner for the project as there are also objections from TNB worker unions over YTL’s participation in the Track 4A deal.

The SIPP-YTL consortium had earlier bid for the RM11 billion Project 3B to build a 2,000 megawatt (MW) coal-fired power plant with its closest competitor being the government’s 1Malaysia Development Bhd (1MDB).

The Malaysian Insider understands that the consortium was deeply upset that it lost out to 1MDB in the larger power plant project and made its displeasure known to Najib and members of the Energy Commission.
…

But there is growing pressure for YTL to drop out of the consortium to prove that there is no crony capitalism in Malaysia apart from pressure for open bidding for the entire project. – June 16, 2014.

https://my.news.yahoo.com/controversial-johor-power-plant-under-scrutiny-royal-flap-225958224.html

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Padiberas Nasional Berhad (Bernas) holds the monopoly on rice imports and is exempt from paying import duty on rice till 2012.

YAHOO! NEWS MALAYSIA

Story behind Syed Mokhtar’s ‘RM2.25 billion tax-exempt’ Bernas deal revealed, says PKR MP

The Malaysian Insider 

An innocuous written reply in Parliament has provided a peek into the cosy relationship between the Najib administration and Malaysia’s best-known businessman, Tan Sri Syed Mokhtar Al-Bukhary.

The Parliament learnt that Putrajaya accepted a personal letter from the businessman as a guarantee he would look after the national interests of rice in Malaysia.

Putrajaya also waived RM2.25 billion worth of duty on rice imported between 2008 and 2013 by Bernas, according to PKR Alor Star MP Gooi Hsiao Leung.

Gooi said Agriculture and Agro-based Minister Datuk Seri Ismail Sabri Yaakob made this revelation in Parliament in a reply to his question last week.

“The latest figures provided by the United States indicates that Malaysia’s rice imports for this year will increase by 24% or 1.1 million tonnes.”

“This means that tycoon Tan Sri Syed Mokhtar Al-Bukhary will continue to reap huge profits through his control of Bernas,” Gooi said in a statement.
…

Gooi said Bernas was a strategic national asset tasked with the responsibility of protecting the interests of rice farmers and consumers.

“It was a gross breach of public interest to have allowed Syed Mokhtar to delist Bernas based on a legally worthless private letter,” he said, referring to a letter written by Syed Mokhtar, which was disclosed by Ismail in Parliament on March 23.

In the letter, Syed Mokhtar gave his personal undertaking that he would guarantee the national interests of rice in Malaysia.

In the relisting of Bernas, 10% shares of Bernas IPO will be allotted to Putrajaya for the National Farmers Association (Nafas) and the National Fisherman Association (Nekmat).

Syed Mokhtar also pledged annual contributions to the welfare programmes of Nafas and Nekmat for five years or until the relisting exercise of Bernas was completed.

Pouring cold water on Syed Mokhtar’s undertakings, Gooi claimed the letter was not legally enforceable nor binding on Bernas.

“This is because Syed Mokhtar is not a party to the concession agreement signed between Bernas and Putrajaya.
…

“Putrajaya’s actions in the way they have allowed Bernas to be delisted is tantamount to unmatched cronyism,” he claimed. – June 15, 2014.

https://my.news.yahoo.com/pkr-mp-questions-rice-import-duty-waiver-syed-105244703.html

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THE RICE INDUSTRY IN MALAYSIA

The rice industry is perceived as being monopolized by crony companies of BM-UMNO. Is that true?

TRUTH DOESN’T MATTER AS MUCH AS PERCEPTION IN THIS CASE

A. What is perceived is that BN-UMNO cronies are pushing the traditional Chinese family businesses out of the rice industry. The last Chinese  family business, it is believed, is Hock Ju Edar. It is the last one standing but may be gone soon, swallowed up by BERNAS.

February 21, 2012

How BN take over rice milling and distribution businesses of the Chinese held companies

龙珠香米 (How BN take over rice milling and distribution businesses of the Chinese held companies)

摘自 正义之声 –

Briefly, this article sets out to describe how BN Govt., using the legislation and economic powers, to erode and eventually take over the rice milling and destribution businesses of the C‌hinese held companies.
..
In the eighties, the rice market was mainly controlled by the Chinese carrying such brand names, e.g. Dragon and Pearl,Jasmine, etc. Robert Kuok was then one of the biggest dealers of rice. Mahathir, in pursuit of the NEP policy, instituted the requirement of obtaining APs for the import of the most commodities. The import of Chinese oranges during the CNY festive period was included in this exercise.
..
Shortly after, the rice market was also targetted by the setting up of Bernas National Bhd. to oversee this policy. Import permits held by the Chinese were rescinded with Bernas being replaced as the sole importer instead. The price of rice was then dictated by Bernas henceforth. All production of padi must only be delivered and sold to Bernas.

How BN take over rice milling and distribution businesses of …

It had prepared itself well for this eventuality and its boss is the leader of the Malaysian Rice Merchant Association. In 2006, Bernas applied pressure on this company by …

ecofrenmalaysia.blog.com/2012/02/21/how-bn-take-over… – Cached

B. THIS PERCEPTION IS SUPPORTED BY THE FOLLOWING.

1 BERNAS HAS A MONOPOLY OF THE RICE TRADE, AND IT HAS BEEN EXTENDED TO 10 JANUARY 2022.

Agreement on monopoly of rice imports extended in M’sia

By Tee Lin Say in Kuala Lumpur/The Star | Asia News Network – Mon, May 2, 2011

Kuala Lumpur (The Star/ANN) – Malaysia’s Padiberas Nasional Bhd (Bernas) recently made headlines when it received a letter from the public-private partnership unit under the Prime Minister’s Department on the extension of the Bernas Agreement.

This gives Bernas a monopoly over Malaysia’s rice imports for a period of ten years. The extension commenced from Jan 11, 2011 to Jan 10, 2021, subject to terms and conditions.

———

Many are perhaps familiar with local rice custodian Bernas, which is involved in the importation of rice, the trading of local and imported rice, rice milling, and the retailing of rice and other household necessities. Bernas was incorporated on 14 April 1994 by the Malaysian Government as part of its efforts to corporatise the National Paddy and Rice Board. Its activities are basically the commercial and social roles it took over from the rice board and the Malaysian Government. It was subsequently privatised on 12 January 1996 and listed on the Main Board of the Kuala Lumpur Stock Exchange on 25 August 1997.

———

The 10 most popular brands of rice distributed by the company are a mix of local and imported rice: Jati, Jasmine, Faiza Mas, Cap Rambutan, Sunwhite, Bird of Paradise, Sakura, Royal Umbrella, Taj-mahal, and Moghul.

The group also has investments in non-rice businesses such as flour and bread via stakes in associate companies. (My emphases)

See
Agreement on monopoly of rice imports extended in M’sia …
This gives Bernas a monopoly over Malaysia‘s rice imports for a period of ten years. .
sg.news.yahoo.com/agreement-monopoly-rice–imports… – Cached

2 BERNAS IS OWNED BY TRADEWINDS

The major shareholder of BERNAS is Tradewinds (M) Bhd. On 3 November 2009, Tradewinds (M) completed the acquisition of a 31.52% stake in Bernas from Wang Tak Company Limited. It completed the purchase of another 22.24% stake from Gandingan Bersepadu Sdn Bhd on 20 January 2010.

It is to this 3rd box that we should turn our attention. It has to do with BERNAS.

3 TRADEWINDS MALAYSIA BERHAD

Company Homepage: Tradewinds (Malaysia) Berhad

Tradewinds (M) Berhad is engaged in the provision of management services and investment holding.

The Company has four business segments: Manufacturing and Trading, which engaged in manufacture and sale of refined sugar; Plantation, which is engaged in cultivation of oil palm, processing and sale of palm products, and the provision of plantation management and advisory services; Management and Investment, which is engaged in investment holding and provision of management services, and Property, which is engaged in property development and property investment.

In March 2008, the Company through its subsidiary Tradewinds Plantation Berhad (TPB) acquired Kongsi Meriah (M) Sdn Bhd. On January 31, 2008, Amalan Penaga (M) Sdn Bhd, a wholly owned subsidiary of Tradewinds Plantation Berhad acquired 70% interest in Usaha Wawasan Sdn Bhd. On April 3, 2009, the Company, through its wholly owned subsidiary Retus Plantation Sdn Bhd, acquired Masretus Oil Palm Plantation Sdn. Bhd.

Tradewinds Malaysia Berhad – Related Companies

IJM Plantations Berhad
Tradewinds Plantation Berhad
Rimbunan Sawit Berhad
Ekran Berhad
Tanah Emas Corporation Berhad
Equine Capital Berhad
Multi Vest Resources Berhad
TAHPS Group Berhad
Sin Heng Chan (Malaya) Berhad
BLD Plantation Berhad

www.twinds.com.my – Cached

4 TRADEWINDS IS OWNED BY TAN SRI SYED MOKHTAR AL-BUKHARY.

Tan Sri Syed Mokhtar al-Bukhary is currently the richest bumiputra corporate figure with many interest in diversified business areas which include transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation.

He currently holds shareholder-ship in Malaysia Mining Corporation Berhad (MMC), BERNAS, Malakoff Berhad, Johor Port Berhad, Impian Teladan Sdn Bhd and many others. 

skorcareer.com/malaysia-eng/syedmokhtarbukhary-profile.htm – Cached

5 HERE IS MORE ABOUT THE RICHEST ETHNIC MALAY IN MALAYSIA.

Syed Mokhtar-linked companies already control the sugar and rice sectors, two ports (Johor Port and Port of Tanjung Pelepas), an airport (Senai Airport), the nation’s largest independent power producer (Malakoff Corp) and water treatment plants (Aliran Ihsan Resources).

Observers and critics have pointed out that a PLUS acquisition, which operates the 973km North South Highway from Thailand to Singapore, could further concentrate ownership of critical national infrastructure in the hands of a private businessman.

Another Syed Mokhtar (picture) concern — automotive group DRB Hicom — told reporters last month that it is not actively looking to buy Proton Holdings Berhad but did not discount the possibility of doing so.

This followed speculation that it had been given the nod by the government to acquire the national car maker.

skorcareer.com/malaysia-eng/syedmokhtarbukhary-profile.htm – Cached

malaysiaonlinetoday.wordpress.com/2010/10/07/syed… – Cached

6 TAN SRI SYED MOKHTAR AL-BUKHARY IS AN UMNOCRAT.

When Mahathir took office, insiders say, his plan was to create a cadre of 100 super-rich bumis who in turn would help rural Malays into prosperity under a konsep payung, or umbrella concept routed through the United Malays National Organization, much the way he envisioned driving the country into industrialization through massive projects. But greed intervened. Once the privileged got rich, there was little incentive to share it with the kampongs, the Malay rural villages. Many of the companies eventually collapsed and are being supported by government institutions such as Kazanah Nasional, the country’s sovereign investment fund, or the Employee Provident Fund.

…….

Nor were they alone. Others included Syed Mokhtar Al Bukhary, one of Malaysia’s richest men, as well as Yahaya Ahmad, who headed Mahathir’s national car project and who tragically was killed with his wife in a helicopter crash, and Samsuddin Abu Hassan…

www.malaysia-today.net/…/35228-umnos-corporate-cornucopia- – Cache

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UMNO Kills Chiness Biz » nkkhoo.com

It had prepared itself well for this eventuality and its boss is the leader of the Malaysian Rice Merchant Association. In 2006, Bernas applied pressure on this company …

www.nkkhoo.com/…/politics/umno-killing-chiness-business – Cached

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CONCLUSION

Is it true? Are the Chinese being driven out of the rice business, just as they have been forced out of the sugar business? Many Chinese would say YES!

You will have to make up your own mind.

WILL OIL PALM BE NEXT?

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MAICCI  secretary-general Datuk M. Davendran tells  Tan Sri Francis Yeoh that he is a crony and should admit it.

YAHOO! NEWS MALAYSIA

Indian business group chides Francis Yeoh over ‘crony capitalism’ issue

The Malaysian Insider

YTL Corporation’s Tan Sri Francis Yeoh should not forget that he has become a rich man with the help of the Barisan Nasional government, an Indian business group said today, in an obvious rebuke to the business tycoon’s recent remarks about crony capitalism in the country.

The Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) secretary-general Datuk M. Davendran also challenged Yeoh to reject stakes in the Johor power plant, the Bestari.net school wireless plan and other government projects to prove that he has not benefitted from Putrajaya’s sweetheart deals.

Instead, Davendran pointed out that Yeoh had a history of benefitting from the government dating back to the 1990s when YTL Power International was given a contract to build an Independent Power Producer (IPP) during the administration of former prime minister Tun Dr Mahathir Mohamad.

“Yeoh had clearly contradicted himself gravely on the matter of crony capitalism as he had obviously built his wealth with government help.

https://my.news.yahoo.com/indian-business-group-chides-francis-yeoh-over-crony-091915699.html

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SYED MOKHTAR IS SAID TO BE THE ULTIMATE CRONY!

Has he denied it?

—

THE UBIQUITOUS SYED MOKHTAR AL-BUKHARY

(Ubiquitous – present, appearing, or found everywhere.)

—

Syed Mokhtar Albukhary’s impressive list of assets includes power generation assets, ports, plantations, auto assembly and distribution assets, rice and sugar distribution and banks just to name a few. While it is difficult to gauge his wealth, in this first of a two-part series, KiniBiz shines a spotlight on the tycoon’s sprawling empire and looks at a breakdown of his assets.

For more:

THE UBIQUITOUS SYED MOKHTAR AL-BUKHARY

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DO YOU THINK YTL’S FRANCIS YEOH APOLOGIZED VOLUNTARILY OR WAS HE MADE TO APOLOGIZE?

Malaysia Chronicle

Saturday, 07 June 2014 10:36

HOW STUPID, MAKING FRANCIS APOLOGIZE ONLY WORSENS UMNO’S BULLY IMAGE: Be grateful to govt – Daim

Former finance minister Tun Daim Zainuddin has urged successful businessmen in Malaysia not to criticise the government and the country, and to be grateful instead as their achievements are due to government help.

Daim’s comments to Malay daily Utusan Malaysia were in response to YTL Corporation chief Tan Sri Francis Yeoh’s reported remarks on “crony capitalism” at a recent forum.

“These successful companies should not paint the country and the government in a negative light because they have received a lot of help,” he was quoted today as saying.

“Instead, they should be remorseful and grateful,” added Daim, who was finance minister during the Mahathir administration.

Daim also reportedly said successful businessmen had no right to be arrogant by tearing down the government because their prosperity was due to government aid.

Tycoon Yeoh, who is YTL’s group managing director and eldest son of founder Tan Sri Yeoh Tiong Lay, has apologised over his comments at Pemandu’s Global Malaysia Series forum last Tuesday, after Utusan Malaysia reported furore over his remarks.
…

In Yeoh’s letter, he said his views were misrepresented.

“This is far from the truth! In fact, I said I wanted to correct this misperception that has hovered around and used by various political factions for 20 years,” he said in the statement last Wednesday.

The prominent businessman had said he was responding to the misperception that the country practises “crony capitalism”. – Malay Mail

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Malaysiakini

11:13AM Jun 6, 2014

YTL’s MD apologises after severe bashing

Under heavy fire for daring to speak out against crony capitalism in Malaysia, YTL Corporation managing director Francis Yeoh has apologised for his remarks.

Yeoh, the eldest son of Malaysian billionaire Yeoh Ting Lay, said he regrets saying things that caused the furore.

“I am truly saddened that my words have been misrepresented. Nevertheless, I humbly apologise if offence has been caused as a consequence.

“I very much regret it,” Yeoh said in a letter to Utusan Malaysia, which was also carried on the front page report of the New Straits Times today.

“We are genuinely thankful to the Malaysian government and the people of Malaysia for allowing us to continue to thrive in this beloved country of ours.”

Utusan carried the aphttp://www.malaysiakini.com/news/264877ology prominently on its front page today.

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Of cronies, sweetheart deals, IPPs and Francis Yeoh

YTL group’s Francis Yeoh has got himself into quite a bit of a pickle over some statement on cronyism he made at a talk on going global. He denies he is a crony and that the crony way is not how business is done in Malaysia.

But is that the truth? Let Tiger dig to unearth the bare truth with his claws.

Who is a crony really? Tiger, without any reference to a dictionary, thinks its a cosy relationship with the powers that be so as to obtain an advantage over others and get what is commonly known as a sweetheart deal, that is an uncommonly good deal which no government in its right mind will give you.

And crony capitalism defines a situation where this is rampant – that is a cosy relationship between the state and businessmen for the benefit of the businessmen primarily and often the state leaders too.
…

There are two parts to it. Is there crony capitalism in Malaysia? And the second part is this: Is Francis Yeoh a crony?
…

To summarise: Yes, cronyism is part of doing business in Malaysia and Francis Yeoh is a crony. But to be fair to him he is just one of many and it is not easy to do business in Malaysia unless you are a crony.

Although he denies having said that, he is right when he said that in developed countries he does not need to toady up to prime ministers and other leaders before and after he gets a project. Which implies that he has to here.

http://www.kinibiz.com/story/tigertalk/89444/of-cronies-sweetheart-deals-ipps-and-francis-yeoh.html

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Malaysian Insider

Utusan attacks YTL for denying Putrajaya’s help in business

5 June 2014

Umno mouthpiece Utusan Malaysia today took billionaire tycoon Tan Sri Francis Yeoh to task for insisting he did not receive any help from the government in securing mega projects in the country.

In a front-page report today, the daily described Yeoh, who called for Malaysia to be free from crony capitalism, racism and religious rhetoric if it wanted to compete internationally, as someone who “talked big”.

The daily said the managing director of YTL Corporation Bhd had a superior attitude and made it sound as if the government was not committed to fight corruption and cronyism, citing Umno Supreme Council member Dr Mohd Puad Zarkashi.

http://www.themalaysianinsider.com/malaysia/article/utusan-attacks-ytl-for-denying-putrajayas-help-in-business

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“I think this crony capitalism stuff has to go. It’s 20 years old this idea, I think we should replace it with new, fresh, truthful idea.”

YAHOO! NEWS MALAYSIA

Crony capitalism in Malaysia has to go, son of YTL founder says

The Malay Mail Online

KUALA LUMPUR, June 3 — Malaysia has to free itself from the constraints of “crony capitalism” and stop racial and religious rhetoric in order to compete on the global stage, business tycoon Tan Sri Francis Yeoh said today.

The group managing director at YTL Corporation and eldest son of founder, billionaire Tan Sri Yeoh Tiong Lay said 85 per cent of YTL’s business are in Britain, Singapore and Australia because these countries do not tolerate corruption, practice meritocracy and stand for the rule of law.

“For example in Singapore, we own a third of Singapore’s electricity, there is no subsidy of any kind, there is no cronyism of any type.

“The good thing about these three territories, I don’t have to kowtow to the prime minister before I do deal(s), I don’t have to see them even, even after I’ve won the deal.

“I turn west because of this transparent, coherent regulatory framework,” he said during Pemandu’s Global Malaysia Series at the Securities Commission.
…

When asked about how his “close links” with former Prime Minister Tun Dr Mahathir Mohamad had contributed to YTL’s successes, Yeoh denied being the latter’s “crony” and credited the company’s achievements to “innovation”.

“At that time… I think up till today, almost 21 years later, people still think I’m a crony of Mahathir’s.

“People think I’ve got a very fat, lucrative contract from Tenaga, [but] I think it’s about time the truth comes out that we actually were very innovative,” he said.

The 59-year-old said when Dr Mahathir introduced YTL as the first independent power producer (IPP), the then prime minister had already been pushing for privatisation.

Yeoh claimed to have given the idea to Dr Mahathir after the major national blackout in 1992.

“We made profit from day one by this incredible innovation of inventing the bond market, inventing IPC (infrastructure project company) listing, financing it in ringgit that indirectly made Malaysia able to withstand financial crisis,” he said.

https://my.news.yahoo.com/crony-capitalism-malaysia-son-ytl-founder-says-051700585.html

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CRONYISM IS WELL AND TRULY ALIVE!

Free Malaysia Today

We give projects to cronies to stay in power’

Read the whole article in

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Malaysiakini

KINIBIZ Genting Bhd has made unexpected corporate social responsibility contributions totalling an estimated RM190 million in the first quarter of this year, which analysts and industry sources said could be related to the May 5 elections.

Analysts said this is an extremely large amount for Genting to be donating in the first quarter, and has significantly affected its final profits.
…..

Analysts were puzzled that the Genting group made such a huge donation, and that too spread out over several companies, in just one quarter, significantly impacting its bottomline.

They speculated that the so-called donations could be election-related, using charities as fronts. It is normally unthinkable that such large contributions were made to charities, one analyst said. Genting officials were not available for comment.

Industry sources said that other companies may have made similar “donations”.

It was not clear to whom the Genting donations were made but analyst reports said  Genting-linked company, Genting Plantations, made a donation of RM35 million to Yayasan Gemilang 1Malaysia, a foundation whose purpose has yet to be released publicly, although it is said to be concerned with the eradication of poverty.

A search on the Internet produced no results for Yayasan Gemilang but analysts pointed out the use of the term 1Malaysia as something that could be linked to the government and possibly a “charity” associated with the general election. This could not be confirmed, ho

Genting’s donations of RM190mil election-related?

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The new Domestic Trade, Cooperative and Consumerism Minister is turning out to be a minister for UMNO Malaysians ene though he says, “We are a ministry for Malaysians.”

Blogger: This Minister lacks wisdom. Instead of publicly announcing that any boycott by UMNO of so-called pro-Pakatan Rakyat firms works against unity, he gives in to their “right to do so”.

…

Malaysian Insider

Putrajaya does not endorse but won’t block ‘buy Chinese last’ campaign, says minister

By Md Izwan
May 18, 2013

Putrajaya does not approve a campaign to boycott Chinese businesses initiated by pro-Umo bloggers and backed by several Muslim groups, Datuk Hasan Malek said today but the new Domestic Trade, Cooperative and Consumerism minister added that he cannot block their right to do so.

Several pro-Umno bloggers and the Muslim Consumers Association Malaysia (PPIM) had recently called for consumers to boycott or at the very least buy goods sold by Chinese companies last, including products such as the Massimo brand bread, Cap Sauh wheat flour and coffee-shop chain Old Town White Coffee.
…..

Several Umno leaders have blamed the Chinese for Barisan Nasional’s (BN) unprecedented losses in Election 2013, where the coalition won just 133 federal seats and lost the popular vote for the first time since 1969 when it contested as the Alliance party then.

http://www.themalaysianinsider.com/malaysia/article/putrajaya-does-not-endorse-but-wont-block-buy-

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Free Malaysia Today

Price of bread up in Sabah?

A consumer group claims that the price of bread has increased in Sabah and wants the federal government to explain the price discrepancy between peninsula and Sabah.

KOTA KINABALU: The newly appointed Domestic Trade, Co-operatives and Consumerism Minister Hassan Malek has a “bread” issue on his desk today.

Consumers in Sabah are crying foul that price of their bread has suddenly gone up while there has been no hike for the same item in the peninsula.
……..

Sabah consumer body, CAPS, or Consumer Affairs and Protection Society of Sabah, on Wednesday claimed that there has indeed been a hike in prices on bread, including Gardenia’s in Sabah.

CAPS deputy treasurer, Donny Yapp, in a statement said the government must explain why they had allowed a hike in prices in Sabah when there is no necessity to do so in peninsula.

“This is grossly unfair to Sabah consumers as we are already paying a much higher price for all other consumer products and our necessities here.

“We want the authorities concerned to promptly look at things here to protect consumers,” said Yapp who is also heading a consumer committee of another NGO, Borneo Rights International (BRI).

“We have been receiving reports recently from consumers that there has been a price hike for Gardenia’s bread in many towns in Sabah, some reaching 40 sen for a 600 gramme loaf of bread,” he said.

According to Yapp, the 400 gramme bread that previously cost RM2.70 is now being sold in Sabah at RM3.00, while a 600 gramme bread that used to cost RM3.80 is now being sold at RM4.20.

“CAPS continues to receive reports from across the state on the price hike. We do hope Gardenia will look into this matter so as not to burden Sabah consumers unnecessarily and unfairly.

“We are providing Gardenia with samples or pictures of price tags that showed the difference of the prices, now and previously,” Yapp added.
……..

Two different companies

In another development, Gardenia Bakeries (KL) Sdn Bhd today clarified that it operates exclusively in Peninsular Malaysia and supplies to this market only.

It added that a totally different company, Gardenia Sabah, meanwhile covers that state.

“We are two completely different and independent entities. The two companies have totally different management, policies, and operational systems. GBKL has absolutely no authority over Gardenia Sabah, and vice versa,” it said in a statement.

https://www.freemalaysiatoday.com/category/nation/2013/05/16/price-of-bread-up-in-sab

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GARDENIA’S NEW PACKAGING!

Pembungkusan baru Gardenia Bonanza baru-baru ini dikeluarkan dengan tujuan kekeliruan. Hari ini saya pergi kedai runcit untuk membeli roti. Malangnya tertipu, sampai rumah baru melihat packing tu..baru nampak tulis “Gardenia.com.my” kat bhg bawah, bungkusan roti asal tu dah tukar, mereka nak kelirukan pengguna.
Jom sebarkan luas seruluh Malaysia. !

Memboikot semua produk UMNOprono!

Gardenia new packaging Bonanza recently released with the purpose of confusion. Today I went to the grocery store to buy bread. Unfortunately fooled, getting a new house look new look packing tu .. write “Gardenia.com.my” kat below part, the original bread packaging change that’s done, they want to confuse consumers.
Let’s spread wide seruluh Malaysia. !

Boycott all products UMNOprono!

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Perkasa’s word on the AirAsia licence

Azran Osman Rani, AirAsia X chief executive officer, had reportedly described Utusan Malaysia’s controversial headline ‘Apa lagi Cina mahu?’ (What more do the Chinese want?) last week as racist, and the Malay rights group Perkasa as being narrow-minded and causing the Malays to be left behind.

Perkasa acting president Abdul Rahman Bakar (centre in picture) was quoted by the daily yesterday as saying that Azran was “arrogant” because he would not have obtained his high position without “the Malay power that Utusan Malaysia fights for.”

“Did it not occur to Azran that the reason the government issued AirAsia a licence is because it used to be owned by Malays in its early years?”

My comments blown out of proportion, says Azran

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THERE HAVE BEEN CALLS TO BOYCOTT PRO-UMNO BUSINESSES AND CRONY FIRMS, BUT THIS CALL BY PRO-UMNO NGOsTO BOYCOTT PRO-PAKATAN FIRMS IS NEW!

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FMT News ‏@fmtoday 23h

‘Boycott pro-Pakatan Kuok firms’ | Free Malaysia Today http://shar.es/ZXFdQ

Free Malaysia Today

Boycott pro-Pakatan Kuok firms’

https://www.freemalaysiatoday.com/category/nation/2013/05/14/boycott-pro-pakatan-kuok-firms/

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Malaysiakini

A group of Islamic NGOs are urging the Malay community to boycott several products and companies belonging to the Chinese, which they claim are funding the opposition in the 13th general election.

Muslim Consumers Association of Malaysia (PPIM) chief activist Nadzim Johan said the actions by such companies have caused disunity in the country.

Hence, he said during a press conference this morning, the NGOs wished to “send a signal to the companies concerned not to misbehave”.

Among the products and companies in the firing line are two restaurant chains, a supermarket chain, as well as popular bread and flour brands.

Meanwhile, in a joint statement that was later distributed, the NGOs stated that the boycott is a simple but effective way of curbing PKR de facto leader Anwar Ibrahim from further “inciting the rakyat” and the DAP from making use of the Chinese community to “obtain power”.

NGOs urge boycott of ‘Chinese pro-Pakatan’ firms

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Malaysian Insider

Polls upset poses risk to moguls Ananda, Syed Mokhtar

April 17, 2013

PR has pledged to break up monopolies such as the pay-TV market now cornered by Ananda’s Astro. — Reuters picKUALA LUMPUR, April 17 ― Companies controlled by billionaires T. Ananda Krishnan and Tan Sri Syed Mokhtar Al-Bukhary have been singled out as being at risk of increased competition and government scrutiny if Barisan Nasional (BN) is upset in Election 2013 by Pakatan Rakyat (PR) parties.

A report today on international news wire Bloomberg noted that companies seen as pro-BN could be targeted if the ruling coalition is defeated on May 5.

The race to control Putrajaya remains tight ahead of nomination day this Saturday, but BN is seen as still having an edge with few observers expecting a defeat for the coalition.

But the Bloomberg report pointed out that Datuk Seri Anwar Ibrahim’s PR pact had pledged in its manifesto to abolish monopolies in industries including pay television, which is dominated by Ananda’s Astro Malaysia Holdings Bhd.

Anwar also said in a March 8 interview he would scrutinise government agreements made with Syed Mokhtar, whose DRB-Hicom Bhd (DRB) bought a 32 per cent stake in the national postal service in 2011.

Ananda controls about 42 per cent of Astro, according to data compiled by Bloomberg.

He also owns shares of Maxis Bhd, the nation’s second-largest mobile-phone operator by market value.

Astro and DRB shares have fallen at least 4 per cent this year, compared with the FTSE Bursa Malaysia KLCI Index (FBMKLCI)’s 1.1 per cent gain, Bloomberg reported.

“Things seem to be shaping up to be a fairly close election,” Rahul Bajoria, regional economist for Asia at Barclays Plc, said by phone to Bloomberg from Singapore on April 12.

“There is some market concern generally that the PR coalition has indicated that they will be reviewing contracts.”

Polls upset poses risk to moguls Ananda, Syed Mokhtar

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Rafizi said the tycoon was only brought up in PKR’s efforts to explain the need to shift away from the government’s current economic policy of hitting a target of 30 per cent Bumiputera equity.

He said the government could achieve its target by helping out a few Malays economically, but said that the majority of the Malay community here would not benefit from the policy.

Malaysian Insider

In GE13 run-up, PKR targets Syed Mokhtar’s pervasive economic influence

By Ida Lim
March 28, 2013

KUALA LUMPUR, March 28 – Tycoon Tan Sri Syed Mokhtar Al-Bukhary’s wide-ranging business interests, from sugar to a composites firm, has been a major topic in Pakatan Rakyat’s (PR) election campaign, signifying who and what are the opposition bloc’s targets if it wins Election 2013.

In almost every ceramah given by Datuk Seri Anwar Ibrahim these past months, the PKR de facto leader has detailed how pervasive is Syed Mokhtar’s influence and its effects on the economy.

And judging by the enthusiastic response from the largely Malay audience at Anwar’s ceramahs and other events on the subject by PAS and DAP leaders, there is not much love for this tycoon (picture).

PKR strategic director Rafizi Ramli noted that the party does not only talk about Syed Mokhtar, saying that other individuals such as Tan Sri Ananda Krishnan, and those who controlled the YTL and Genting group has been mentioned as well.

“Because one of the great challenges… is to counter Umno’s allegation that PKR and PR is trying to weaken the Malays’ position” economically with a needs-based approach, Rafizi told The Malaysian Insider.

“The focus on Syed Mokhtar is changing the mindset and countering Umno’s propaganda …” he later said.

In GE13 run-up, PKR targets Syed Mokhtar’s pervasive economic influence

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Malaysiakini

Businessman Syed Mokhtar Albukhary’s plan to take over Penang Port Sdn Bhd is close to conclusion, and his talks with Permodalan Nasional Bhd (PNB) to buy a controlling block in NCB Holdings Bhd, which wholly owns Northport in Port Klang, are still going on, industry sources say.

“With Penang Port, it’s only one or two clauses left to be negotiated… with NCB it’s still on-going at the shareholder level,” a source close to the tycoon tells KiniBiz.

While Penang Port is more or less in the bag, with an announcement likely after the general election, NCB is a little trickier, as it is listed company.

NCB officials when contacted declined to comment on Syed Mokhtar’s entry, as they were unaware of what was going on. This is likely to be because talks are at the shareholder level.

About a month ago, an aide of Syed Mokhtar had denied any interest in NCB.

Syed Mokhtar close to sealing Penang Port deal

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Malaysiakini

Koh Jun Lin 12:59PM Mar 8, 2013

PKR claims that a profitable government-linked company (GLC) is being sold to a company owned by businessperson Syed Mokhtar Albukhary without an open tender.

The party’s director of strategy Rafizi Ramli says the GLC, Composites Technology Research Malaysia Sdn Bhd (CTRM), has orders worth RM8.26 billion over the next five years.

The company has also recorded a group revenue of about RM293 million and profits of about RM11 million in 2011, and is expanding rapidly to meet its customers’ demands, he claimed.

However, all of the Finance Ministry’s 96.8 percent stake in the company is being sold to DRB-Hicom Defence Technologies Sdn Bhd for only RM298.3 million, according to a filing with Bursa Malaysia on Feb 19.

Another GLC going cheap to Syed Mokhtar’

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On Tuesday, the KL-S’pore high-speed train was announced by Prime Minister Datuk Seri Najib Razak and his Singapore counterpart Lee Hsien Loong, with the latter saying that it is targeted to be built by 2020.

For more, click on
The ETS (Electric Train Service): Ipoh-KL-Ipoh

Malaysian Insider

KUALA LUMPUR, Feb 22 — The Johor state government and logistics tycoon Tan Sri Syed Mokhtar Al-Bukhary will compete for a new multi-billion ringgit high-speed train project linking Kuala Lumpur and Singapore, The Edge Financial Daily reported today.

According to The Edge, YTL Corp Bhd and Hartasuma Sdn Bhd have also been named as those contending for the project said to be worth RM20 billion to RM30 billion.
……………

The Johor government is likely to form a joint venture if it wins the HSR project that will cut through the southern state, The Edge quoted an industry executive as saying.

Syed Mokhtar already owns a few ports via MMC Corp Bhd, including the Port of Tanjung Pelepas and Johor Port, and was reportedly working on a takeover of national railway KTM.

MMC Corp is currently in a joint venture with Gamuda Bhd for the Mass Rapid Transit (MRT), the largest rail project in the Klang Valley, due to be ready in 2017. The two companies are also working together on a 329km electrified double-tracking rail project connecting Perak and Perlis that is expected to be completed this year.

But it remains unclear which of Syed Mokhtar’s companies will fight for the HSR project, The Edge said.

Johor, Syed Mokhtar eyeing multi-billion KL-Singapore high-speed rail

Syed Mokhtar eyes Malaysia Airlines

Businessman Syed Mokhtar Albukhary is proposing to the Federal Government to take over national investment arm, Khazanah Nasional Bhd’s 69.3 percent equity interest in ailing Malaysia Airlines, sources said.

While details of the businessman’s proposed takeover are not known, part of the deal may involve a long-term fuel subsidy by the government for as many as 60 years, they added.

However, one source close to Syed Mokhtar denied such a proposal to take over MAS. “We are strongly denying it….This is all just election play,” he said.

However two separate sources confirmed that such a deal is being contemplated at the moment although details are sketchy because it is still early yet. Khazanah did not respond to questions sent.

At present, Syed Mokhtar’s airline related assets include the Sultan Ismail Airport in Johor, which is owned by Senai Airport Terminal Services Sdn Bhd. This was acquired from Malaysia Airport Holdings Bhd, another Khazanah controlled entity, for RM80 million in 2003.

He also controls two ports, Port of Tanjung Pelepas Sdn Bhd and Johor Port Bhd, both under his flagship MMC Corp Bhd. He is also understood to be close to buying Penang Port Sdn Bhd.
MMC is also doing a due diligence of Keretapi Tanah Melayu, the state controlled train operator.

Syed Mokhtar controlled DRB-Hicom Bhd last year took over auto maker Proton Holdings Bhd, and postal services operator Pos Malaysia Bhd. This adds on to DRB-Hicom’s existing banking, property and automobile distribution and assembly business.

The businessman’s current thrusts seem to be hinged on entering into all the key transportation and logistic areas in  Malaysia. But his reach extends far beyond that.

Syed Mokhtar eyes Malaysia Airlines

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NST

17 February 2013| last updated at 01:38AM

Kuok still the richest

SLIGHT INCREASE: Combined wealth of Malaysia’s 40 richest individuals up by 0.86 pc this year

KUALA LUMPUR: ROBERT Kuok, the Hong Kong-based Malaysian tycoon is still the richest man in Malaysia with a wealth of RM46.1 billion, up 0.88 per cent from last year’s RM45.7 billion, followed by businessman Ananda Krishnan and Public Bank’s Tan Sri Teh Hong Piow.

Ananda, in second position since 2004, suffered the biggest wealth decline, falling by 23.5 per cent from last year, with his assets held via Usaha Tegas Sdn Bhd worth RM32.90 billion as at the tabulation date of Jan 18, 2013.

Teh, kept his place for the third year running with assets worth RM13.73 billion, Malaysian Business, the country’s premier business magazine, said in its Feb 16 issue.

Sundaily

Syed Mokhtar to privatise three companeis at one go?

KUALA LUMPUR (Dec 25, 2012): Tycoon Tan Sri Syed Mokhtar Al-Bukhary plans to take over Tradewinds (M) Bhd (TWM) for RM9.30 a share, in a deal which may see the privatisation of Tradewinds Plantation Bhd (TWP) and Padiberas Nasional Bhd (Bernas) as well.

Syed Mokhtar made the offer yesterday through his privately owned vehicles Perspective Lane (M) Sdn Bhd, Kelana Ventures Sdn Bhd, Seaport Terminal (Johore) Sdn Bhd and Acara Kreatif Sdn Bhd. The offer price is a 20% premium to its last traded price of RM7.75 as at Dec 21.

The deal will in turn trigger mandatory conditional offers for both TWP and Bernas.

TWM and Syed Mokhtar will offer RM4.03 for every TWP share and RM2.43 for every irredeemable convertible unsecured loan stocks in TWP, and RM3.25 for every share it does not own in Bernas.

All three stocks were suspended yesterday, in anticipation of this announcement. Trading wil resume on Wednesday.
…………….

The principal activity of Pespective Lane is investment holding, while Kelana Ventures is property development and investment. On the other hand, the principal activity of Seaport Terminal is investment holding and development and management of port facilities, wheareas Acara Kreatif is investment holding.

Syed Mokhtar to privatise three companeis at one go?

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Malay Mail

The rise and rise of Syed Mokhtar Albukhary

The rise and rise of Syed Mokhtar Albukhary

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Celcom Axiata Bhd, DiGi Telecommunications Sdn Bhd, Maxis Broadband Sdn Bhd, Packet One Networks (M) Sdn Bhd, REDtone Marketing Sdn Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd were each awarded 20MHz, while Puncak Semangat ― a new player ― was given 40MHz.

Malaysian Insider

KUALA LUMPUR, Dec 13 ― The Malaysian Communications and Multimedia Commission (MCMC) should not to play the industry’s “God” by selecting which companies’ pockets to fatten with arbitrary awards, an opposition MP said today.

DAP federal lawmaker Tony Pua insisted here that the regulator should have auctioned off the Long-Term Evolution (4G-LTE) broadband spectrum instead of awarding a comparatively large block to logistics tycoon Tan Sri Syed Mokhtar Al-Bukhary.

The Petaling Jaya Utara MP scoffed at MCMC chairman Datuk Mohd Sharil Tarmizi’s claim that the award of 40MHz to Syed Mokhtar’s Puncak Semangat was to “introduce additional competition”, saying his explanation defied logic as the eight existing players in the industry was adequate to offer a surfeit of consumer choice.

“By international standards, eight players are more than sufficient to generate a highly competitive environment.

“Most other developed nations have far fewer than eight players in the industry, and yet remain highly competitive and innovative,” he said in a statement here.

Pua asked if Sharil’s statement meant that these other eight players have not already been in competition to provide innovation, and said the MCMC should then be held responsible for allowing the firms to collude if this was the case.

Auction, not gift 4G spectrum to Syed Mokhtar, MCMC told

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Malaysia Insider

KUALA LUMPUR, Dec 10 — The government’s award last week of a licence to a company linked to logistics tycoon Tan Sri Syed Mokhtar Al-Bukhary to offer the next generation of high-speed broadband services has led to question marks about its lack of experience and “zero track record”.

DAP MP Tony Pua has questioned the rationale behind the award of a huge part of the high-speed 4G, or Long Term Evolution (LTE) broadband spectrum, by the Malaysian Communications and Multimedia Commission (MCMC) to Syed Mokhtar’s Puncak Semangat Sdn Bhd.

The company was allocated 40 MHz of the band, while seven other companies were allocated only 20 MHz each.

Main – Malaysia – Questions raised over Syed Mokhtar’s 4G ..

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Company Overview of Puncak Semangat Sdn. Bhd.

Snapshot

People

Company Overview

Puncak Semangat Sdn. Bhd. offers Information Technology and e-commerce services. The company is based in Malaysia.

Key Executives for Puncak Semangat Sdn. Bhd.

Datuk. Azizan Bin Ayob
Managing Director
Age: 66

Puncak Semangat Sdn. Bhd. Key Developments

Puncak Reportedly Submits Bid For Fibrecomm

Jun 12 12

Puncak Reportedly To Acquire Jaring Soon

May 28 12

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Malaysiakini

The award of the 40MHz block of bandwidth of the 2.6GHz spectrum to Puncak Semangat Sdn Bhd was to increase competition and have the basic minimum requirement needed for the company to start up.

Denying that the company had received the “lion’s share” of the 2.6GHz spectrum, Malaysian Communications and Multimedia Commission (MCMC) chairperson Mohamed Sharil Tarmizi said the allocation was still smaller when compared to the combined total of the seven big telco players.

The other recipients of the 2.6GHz spectrum band announced by the MCMC on Dec 6 are Celcom Axiata Bhd, Digi Telecommunication Sdn Bhd, Maxis Broadband SdnBhd, Packet One Networks (M) Sdn Bhd, REDtone Marketing Sdn Bhd, U Mobile SdnBhd and YTL Communication Sdn Bhd.

All were awarded a 20MHZ block each and this saw some questioning the bigger allocation to Puncak Semangat which is a complete newcomer to the telecommunications industry.

– Bernama

MCMC: Syed Mokhtar’s firm needed 4G start-up aid

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BUSINESS TIMES
Wednesday, December 12, 2012, 05.25 PM

Puncak Semangat has a ‘good business proposal’

PUNCAK Semangat Sdn Bhd has a good business proposal and should be given a chance to “excite” the local telecommunications market, says the Malaysian Communications and Multimedia Commission (MCMC).

Puncak Semangat, which is owned by Tan Sri Syed Mokhtar Al-Bukhary, is one of eight companies awarded by the MCMC last week with the 2600 MHz (megahertz) spectrum, which will allow them to provide 4G services with speeds in excess of 100 mbps (megabits per second).

4G is mobile broadband services delivered using the next generation mobile broadband technologies, including Long Term Evolution (LTE) and WiMAX (Worldwide Interoperability for Microwave Access).

The eight companies are Celcom Axiata Bhd, DiGi Telecommunications Sdn Bhd, Maxis Broadband Sdn Bhd, Packet One Networks (M) Sdn Bhd, Puncak Semangat Sdn Bhd, REDtone Marketing Sdn Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd.

MCMC chairman Datuk Mohamed Sharil Tarmizi said Puncak Semangat gave a good proposal like everybody else and deserves to be given a chance.

“You ask me why…I ask you why not and we have the prerogative.”

“Puncak Semangat, along with the others, gave a good business value proposition,” he told reporters and analysts here yesterday after its latest updates on the country’s digital transformation.

________________________________________________

When Mahathir stepped down as prime minister, Malaysia’s ranking in 2003 had dropped from 23rd in 1995 to 37th position!

But the sharpest drop in TI CPI ranking took place in the three years under the sixth prime minister, Najib Razak falling another 13 places to 60th ranking with the lowest TI CPI score of 4.3 in the TI CPI 2011.

Malaysiakini

COMMENTUmno secretary-general Tengku Adnan Mansor cannot be more wrong in claiming that Umno’s biggest problem in the 13th general election is the perception that it is a corrupt party.

The real problem is the corruption in the Umno leadership, which must bear the full responsibility for Malaysia’s worst ranking in the past 17 years of Transparency International (TI) Corruption Perception Index (CPI) and losing out to more and more countries not only in the region, the Asia-Pacific but even to Islamic countries in the Organisation of Islamic Conference (OIC) in the fight against corruption.

When the TI CPI was first introduced in 1995, Malaysia was ranked No. 23. I can still remember the condemnation by the then Prime Minister Dr Mahathir Mohamad who accused it as part of the Western ‘white men’ conspiracy to demonise Asian countries as the global anti-corruption NGO was headquartered in Berlin.

What is most ironic is that in the months before he stepped down as prime minister in October 2003, he was singing a different tune, according legitimacy by  giving his blessings to the annual TI CPI when he urged the country to aim to be among the top countries among the least corrupt nations in the annual TI CPI.
………………..
Unless Umno leaders can present an iron-clad case that it is not Umno but the other BN parties like MCA, Gerakan, MIC, the Sabah and Sarawak BN parties which must bear the greatest responsibility for the critical corruption problem in Malaysia?

Instead of the denial syndrome trivialising the grave problem of corruption in Malaysia, Umno leaders should accept full responsibility by demonstrating the political will and commitment to fight grand corruption involving top political and government leaders, starting with a full public inquiry into the RM40 million Sabah ‘political donation’ scandal involving Sabah Chief Minister Musa Aman and Sabah timber trader Michael Chia.

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LIM KIT SIANG is DAP parliamentary leader and MP for Ipoh Timor

Perception least of Umno’s problems

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Malaysian Insider

Crony elitist party tag hardest to shake off, says Umno sec-gen

_________________________________________________

“By the time I met Dr Mahathir in 1997, I was already a successful businessman. I have never abused the relationship. Dr Mahathir gives me a fair hearing, but there is no green lane with him,” he is quoted in The Media chapter on page 152.

Malaysiakini

Syed Mokhtar Albukhary cries foul about the media in a first biography written on him by a public relations consultant and published by the writer’s firm pVm Communications.

“I wonder why I get bad press when others have systematically abused the system for personal gain, but they are not subject to much media scrutiny. Perhaps it is time to come out and defend myself,” says Syed Mokhtar.

It will be interesting to find out from him who are the people he refers to as “others” abusing the system.

Author Premilla Mohanlall notes that the media frequently attributes Syed Mokhtar’s success to the patronage of Dr Mahathir Mohamad.
…………….
He is hurt by the perception that the acquisition of MMC, Pernas and DRB-Hicom was easy. “People don’t realise how difficult they were, and how hard I had to fight to get them.”

Syed Mokhtar discounts a rumour that his borrowings run to billions of ringgit and his non-performing loans can also cause a run on some banks as they are hefty.

“I have the confidence of the banks. We have borrowings, and our loans are backed by strong assets.”

______________________________________________________________

M KRISHNAMOORTHY is a freelance journalist and local coordinator for CNN, BBC and several other foreign television networks. He was formerly a journalist with The Star and New Straits Times and has authored four books.

The media is after me, says Syed Mokhtar

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Free Malaysia Today

Umno’s chief crony

This wealthy Malay became a billionaire because he worked hard to become a super-crony of Mahathir and Muhyiddin.

…………….

This totalitarian power enabled Umno leaders and their cronies to plunder the country’s wealth. Don’t believe me?

The chief Umno crony, Syed Mokhtar Al-Bukhary – a good friend of Tun Dr Mahathir Mohamad and Muhyiddin Yassin – today owns and controls a litany of companies including MMC, DRB Hicom, Proton, Malakoff,  Johor Port,  Senai Airport, Port of Tanjong Pelepas, Bank Muamalat, Padiberas Nasional, CSR Sugar, Gardenia, MPH Bookstores and  Penang Port

This same man is now eyeing RTM, KTMB and Bank Islam.

This wealthy Malay became a billionaire because he worked hard to become a super-crony of Mahathir and Muhyiddin. Almost all his wealth was handed to him on a gold plate.

This is the kind of people who support Umno. The ordinary member, he’s just good for the crowd and to scream ‘Hidup Melayu”.

We Malays keep quiet because Bukhary is a fellow Malay.
……………

But the Malays have wisened up. In the 13th general election, the Malays will show themselves.

The writer is a former Umno state assemblyman but has now joined DAP. He is a FMT columnist.

Umno’s chief crony

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“Proton is the single largest problem facing public transport in Malaysia,” said Centre for Environment, Technology and Development Malaysia (Cetdem) executive director Gurmit Singh, who represents his organisation in the working group.

Malaysiakini

According to the Working Group on Public Transportation in Malaysia (KKPAM), the root cause behind the country’s public transportation woes lies in the unholy trinity of Proton, politics and profit.

“Proton is the single largest problem facing public transport in Malaysia,” said Centre for Environment, Technology and Development Malaysia (Cetdem) executive director Gurmit Singh, who represents his organisation in the working group.

He was speaking at a press conference in Kuala Lumpur today to promote KKPAM’s public forum, titled “Moving from private to public transport”, scheduled for Nov 3 at the Petaling Jaya Community Library.

Gurmit lamented that the focus on personal vehicles and the promotion of the national car manufacturer for nearly 30 years had directly or indirectly caused the government to neglect nurturing a healthy public transport infrastructure.

The environmental activist said that his earlier warnings about the matter was stifled by the mainstream media who had gone as far as distorting his words and “printing absolute lies”.

• ‘Proton, politics, profit behind transport problems’

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This is AMAZING, to say the least!

Bung Mokhtar, “Why, when we speak about mega project, there is Syed Mokthar. This is not a fair business for smaller players. There are many other Malay bumiputeras that want to succeed like him.”

Malaysiakini

Umno’s Bung Mokthar Radin (BN-Kinabatangan) today launched a tirade against tycoon Syed Mokthar Al-Bukhary for what he described as the businessman’s penchant to monopolise everything under the sun.

Whatever businesses exist in this world, Bung Mokhtar (left) said, Syed Mokhtar wanted the companies pioneered by him to be in them.

“In the sea, he is doing business, on land, he is doing business, in the air, he is doing business.

“If he can do business in the grave, he will probably do it,” Bung Mokhtar said during the committee stage of the debate on the Budget 2013 allocation for the Finance Ministry.

Bung Mokthar was complaining about the participation of giant government-linked companies (GLCs) and other private businesses in open tenders for smaller projects that he said would deprive smaller companies of business opportunities.

“So what is the policy? I ask that the Finance Ministry explain. These GLCs should not be allowed to participate in the smaller open tenders, they should focus on their mega projects,” he said

Umno MP launches tirade at ‘monopolist’ Syed Mokthar

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Malaysiakini

Over 500 railway workers picketed at the Keretapi Tanah Melayu Bhd (KTMB) headquarters in Kuala Lumpur today to protest MMC Corp Bhd’s bid to take over the company.

MMC Corp is controlled by business tycoon Syed Mokhtar al-Bukhary, who also owns Seaport Terminal (Johor) Sdn Bhd, which took over Penang Port.

Besides this, Syed Mokhtar also controls the Port of Tanjung Pelepas and Johor Port as well as took over Pos Malaysia via DRB Hicom.

The group, led by Railwaymen’s Union of Malaya (RUM) leaders, chanted slogans, sang songs, and held up banners for over an hour beginning 5.30pm, almost always under the blare of their air horns.

Hundreds picket against tycoon’s KTMB takeover bid

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www.theedgemalaysia.com/features/153788-cover-story… – Cached

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From 29 September 2012, the price of sugar per kg will be RM2.50!

WHO WILL BENEFIT WHENEVER THE PRICE OF SUGAR IS RAISED? A crony company?

Robert Kuok exited the sugar industry in October 2009. His PPB Group’s sugar refining operations came under MSM and a joint venture with Felda – Kilang Gula Felda Perlis Sdn Bhd. These two outfits produced over 700,000 tonnes of refined sugar annually.

In a RM1.5 billion deal, Felda’s main commercial unit, Felda Global Ventures Holdings Sdn Bhd, bought over PPB Group’s entire sugar assets in Malaysia including a sugarcane farm in Perlis and PPB Group’s 20 per cent share in Tradewinds (M) Bhd.

Tradewinds, linked to the well-connected Syed Mokhtar Al-Bukhary, controls Central Sugars Refinery Sdn Bhd and Kilang Gula Padang Terap Bhd.

TRADEWINDS BENEFIT WHENEVER THE PRICE OF SUGAR IS RAISED.

(Sugar price hike: Who benefits? » anilnetto.com)

The price of sugar, a controlled item, has gone up four times:
by 20 sen per kg on January 1, 2010
by 25 sen per kg on July 18, 2010
by 20 sen per kg on December 4, 2010
by 20 sen per kg on May 10, 2011
by 20 sen per kg on September 29, 2012

The sugar price per kg will be RM2.50…..

Malaysian Insider

KUALA LUMPUR, Sept 28 — The subsidy on sugar will be reduced by 20 sen per kilogramme effective tomorrow, Prime Minister Datuk Seri Najib Razak announced today.

When tabling the 2013 Budget in the Dewan Rakyat, Najib said subsidy reduction had the support of consumers’ associations and health practitioners.

“I want to stress that the government is still subsidising 34 sen per kilogramme on sugar involving an expenditure of RM278 million,” he said when unveiling the budget proposals on the theme “Prospering the Nation, Enhancing Well-being of the Rakyat: A Promise Fulfilled”.

Sugar 20 sen dearer from tomorrow

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Malaysiakini

The Budget 2013 offers “small doses” of election goodies and fails to address basic structural problems such as cronyism and monopolies, said Opposition Leader Anwar Ibrahim.
…………….
…basic structural problems in this country where the rich cronies and their family members amass billions of ringgit of profit through improper means and fraudulent process is kept unchecked. That includes the monopolies, the independent power producers (IPP) and also the other related agencies.

Anwar: Budget fails to address cronyism, monopolies

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DAP MAN ASKS, “WILL THIS ‘CRONY’ NEED A BAIL OUT?”

Malaysian Insider

KUALA LUMPUR, Sept 27 — The combined debt of RM34.3 billion accrued by companies owned by Tan Sri Syed Mokhtar Al-Bukhary is causing genuine fears of a bailout using taxpayers’ money, the DAP’s Tony Pua said today.

The Petaling Jaya Utara MP told reporters that his attempt to raise the issue in Parliament was thwarted when the Speaker rejected his question to the Finance Ministry on the basis that his query was based on assumptions.

“I did not pick these figures from the sky. These figures are based on annual reports published by the companies themselves as well as memos forwarded to Bursa Malaysia,” Puasaid.

Syed Mokhtar’s debts raising fear of future bailout, says Tony Pua

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Malaysian Insider

KUALA LUMPUR, Sept 4 — PKR today urged the federal government to stop plans to give state-owned Keretapi Tanah Melayu Berhad’s (KTMB) operations to a company owned by logistics tycoon Tan Sri Syed Mokhtar Al-Bukhary.

Syed Mokhtar’s Malaysian Mining Corporation (MMC) was reported to be planning a takeover of the ailing KTMB, but PKR questioned why an open tender was not carried out.

PKR strategic director Rafizi Ramli said the government had broken its promise that all contracts would be awarded through open tenders.

“What are the government’s conditions to ensure that KTMB assets and land, estimated to be worth RM50 billion, do not fall into private hands?” Rafizi asked at a press conference today.

He had expressed fear that the proposed takeover by MMC was an attempt to increase its landbank, saying that it was important for details of any KTMB privatisation contract to be revealed.

KTMB is the operator of the national railway line, while the assets and land are owned by Railway Asset Corporation.

Stop KTMB takeover by Syed Mokhtar’s MMC, says PKR

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Malaysian Insider

KUALA LUMPUR, June 20 — Putrajaya’s move to spend RM8 billion more for subsidies has led the opposition to accuse the government of using public funds to benefit cronies instead of the public.

Datuk Seri Anwar Ibrahim (picture) pointed out while debating the supplementary supply bill that the sum was nearly 40 per cent more than the original allocation in Budget 2012, specifically pointing to the increase in sugar and toll subsidies as “ensuring the profitability of crony companies.”

“I am certain in this case, the profit to the crony companies is excessive,” the opposition leader said of the RM343 million added to the initial RM446 million to subsidise tolls.

He also said that as Tan Sri Syed Mokhtar al-Bukhary’s Tradewinds is one of two companies that control the local sugar market, the RM367 million added to the RM198 million allocated under Budget 2012 was not proportional to the actual increase in sugar prices.

“We want to know who actually benefits from these subsidies. They say it’s for the public. Show us what are the profits of these companies,” the Permatang Pauh MP said.

The opposition has previously questioned if the government is handing over the RM198 million allocated for sugar subsidies under Budget 2012 to politically-connected companies after nearly tripling sugar subsidies despite a dive in global prices over the second half of 2011

Surge in subsidy bill to feed cronies, says Anwar

————

Malaysikini

Opposition Leader Anwar Ibrahim is questioning whether the rising federal subsidies are for the benefit of the rakyat or for crony companies.

He pointed to the ever-increasing fuel, toll and sugar subsidies that have ballooned several times over in the latest supplementary budget.

“When you hear ‘subsidy’ you think it is for the rakyat, but I would like to contend that it is for the cronies,” Anwar argued at a press conference in the Parliament lobby today.

Are subsidies for rakyat or cronies, asks Anwar

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PENANG PORT

Malaysian Insider

KUALA LUMPUR, June 13 — Putrajaya has confirmed that Tan Sri Syed Mokhtar al-Bukhary’s Seaport Terminal has won the bid to take Penang Port Sdn Bhd (PPSB) private and must foot the bill of dredging work deemed crucial to making the port competitive.

The Transport Ministry said in a written reply to a parliamentary question by Bukit Mertajam MP Chong Eng yesterday that negotiations with the company controlled by the logistics tycoon that runs Johor Port are currently ongoing.

The Penang-based DAP lawmaker, one of three who have accused MCA president Datuk Seri Dr Chua Soi Lek of a “sinister plot” to privatise the port in the interest of his home state of Johor, also asked if “dredging Penang Port will be a condition of the contract.” But Transport Minister and MCA secretary-general Datuk Seri Kong Cho Ha replied that “one of the conditions in the privatisation agreement is that the successful company must bear the cost of dredging Penang Port.

Syed MoSyed Mokhtar’s Seaport must bear cost of dredging Penang Port, says MOT

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Back to Bread and Gardenia

Malaysia Chronicle

Thursday, 07 June 2012 16:55

OMG! HOW UNPOPULAR IS ROSMAH & UMNO: Gardenia a victim of business rivals

Written by  donplaypuks

——-

The article claims to debunk the myth that Gardenia is a crony company. Its main points are:

1 Gardenia is 70% owned by QAF Ltd. which is publicly listed on the Singapore Stock Exchange. The remaining 30% shareholding was sold to BERNAS at a premium in 2001, in line with MITI’s conditions for granting Gardenia a manufacturing licence. This was long, long before Syed Mokhtar took control of BERNAS via Tradewinds in 2009 and Rosmah was anywhere within sight of Putrajaya!

2 Although, in view of its 30% shareholdings, Bernas has board of directors representation in Gardenia, it has NEVER interfered in Gardenia’s operations or management, nor ever forced it to buy flour from Syed Mokhtar-controlled companies. In fact, in over 25 years of production, Gardenia has not bought a single gram of flour from any flour mill owned by Bernas, Syed Mokhtar Bukhari or UMNO.

3 Gardenia has not bought any flour from Federal Flour Mills (FFM) owned by the Robert Kuok Group, for over 10 years!!! Therefore, the vicious and deliberately falsified and concocted information circulated in November 2011 that Bernas or Syed Mokhtar Bukhari or Rosmah or UMNO had suddenly instructed Gardenia to terminate business with FFM has absolutely no basis whatsoever!

OMG! HOW UNPOPULAR IS ROSMAH & UMNO: Gardenia a victim of business rivals

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What was Chua Soi Lek’s part in the privatization of the Penang Port?

Malaysian Insider

KUALA LUMPUR, June 2 — The controversial decision to privatise Penang Port only materialised after MCA president Datuk Seri Dr Chua Soi Lek was appointed chairman of its regulatory body, says Datuk Seri Ong Tee Keat.

Ong (picture), who was transport minister from March 2008 to June 2010, told The Malaysian Insider that “there was never any plan to privatise Penang Port during my time” despite several private players submitting bids to take over its operations.

“Yes, because the government had no plans to privatise when I was transport minister,” Ong said when asked further if plans to privatise the port, which has seen the federal government pour in RM1.1 billion in capital expenditure between 2004 to 2009, only came about after Dr Chua’s appointment.

www.themalaysianinsider.com/malaysia/article/no… – Cached

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Tan Sri Syed Mokhtar Al-bukhary: MMC is his Flagship compnay.

KUALA LUMPUR, May 29 — MMC Corporation Bhd, which is reviewing the proposed privatisation of Keretapi Tanah Melayu Bhd (KTMB), hopes to submit the results of a feasibility study to the government as early as July this year.

Group managing director Datuk Hasni Harun said about 40 to 50 per cent of the study has been completed.

Main – Malaysia – MMC aims to submit KTMB privatisation study …

www.themalaysianinsider.com/malaysia/article/mmc–aims–to… – Cached

——

Encyclopedia of Malaysia

2.  Business empire: Apart from controlling the shipping industry, Syed Mokhar Al-Bukhary’s business empire includes:

• the rice import business through national rice supplier, Bernas;
• the gas distribution business through Gas Malaysia, a subsidiary of Syed Mokhar Al-Bukhary’s flagship company, MMC Corp;
• the sugar trade through Tradewinds;
• the power production business via the nation’s largest independent power producer, Malakoff Corp; and
• the water treatment sector through Aliran Ihsan Resources;
• banking through Bank Muamalat;
• the automotive industry through DRB-Hicom; and
• the airport business through Senai International Airport.

In October 2010, MMC Corp also approached the government in a bid to take over the UEM Group which is the majority shareholder of North-South Highway concessionaire, PLUS Expressways. The bid, however, has since failed.^[2] MMC Corp is the co-project delivery partner, together with Gamuda for the new Klang Valley Mass Rapid Transit (MRT) and the consortium is widely tipped to be awarded the tunneling portion of the system’s construction.

malaysia.jbdirectory.com/Syed_Mokhtar_Albukhary – Cached

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Malaysian Insider

KUALA LUMPUR, May 29 — Shipping industry players have joined Penang MPs in expressing doubt over whether Tan Sri Syed Mokhtar al-Bukhary, who has emerged as a frontrunner to take Penang Port private, will deepen its channel at the logistics tycoon’s own cost.

Industry players, who declined to be named, told The Malaysian Insider it would not make economic sense for a private player to dredge the port’s channel at a reported cost of RM350 million, especially as Syed Mokhtar also controls the rival Tanjung Pelepas Port (PTP).

“Definitely it makes more sense to turn Penang Port into a feeder port instead of splitting up resources and competing with yourself as well as Port Klang,” said a former top port official.

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Malaysia Chronicle

1 Soi Lek, did you sabotage Penangites to help Umno crony Syed Mokhtar

2 Soi Lek, did you sabotage Penangites to help Umno crony Syed ..

malaysiansmustknowthetruth.blogspot.com/2012/03/syed… – Cached

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THE RICE INDUSTRY IN MALAYSIA

The rice industry is perceived as being monopolized by crony companies of BM-UMNO. Is that true?

TRUTH DOESN’T MATTER AS MUCH AS PERCEPTION IN THIS CASE

A. What is perceived is that BN-UMNO cronies are pushing the traditional Chinese family businesses out of the rice industry. The last Chinese  family business, it is believed, is Hock Ju Edar. It is the last one standing but may be gone soon, swallowed up by BERNAS.

February 21, 2012

How BN take over rice milling and distribution businesses of the Chinese held companies

龙珠香米 (How BN take over rice milling and distribution businesses of the Chinese held companies)

摘自 正义之声 –

Briefly, this article sets out to describe how BN Govt., using the legislation and economic powers, to erode and eventually take over the rice milling and destribution businesses of the C‌hinese held companies.
In the eighties, the rice market was mainly controlled by the Chinese carrying such brand names, e.g. Dragon and Pearl,Jasmine, etc. Robert Kuok was then one of the biggest dealers of rice. Mahathir, in pursuit of the NEP policy, instituted the requirement of obtaining APs for the import of the most commodities. The import of Chinese oranges during the CNY festive period was included in this exercise.
Shortly after, the rice market was also targetted by the setting up of Bernas National Bhd. to oversee this policy. Import permits held by the Chinese were rescinded with Bernas being replaced as the sole importer instead. The price of rice was then dictated by Bernas henceforth. All production of padi must only be delivered and sold to Bernas.

How BN take over rice milling and distribution businesses of …

It had prepared itself well for this eventuality and its boss is the leader of the Malaysian Rice Merchant Association. In 2006, Bernas applied pressure on this company by …

ecofrenmalaysia.blog.com/2012/02/21/how-bn-take-over… – Cached

B. THIS PERCEPTION IS SUPPORTED BY THE FOLLOWING.

1 BERNAS HAS A MONOPOLY OF THE RICE TRADE, AND HAS BEEN EXTENDED TO 10 JANUARY 2022.

Agreement on monopoly of rice imports extended in M’sia

By Tee Lin Say in Kuala Lumpur/The Star | Asia News Network – Mon, May 2, 2011

Kuala Lumpur (The Star/ANN) – Malaysia’s Padiberas Nasional Bhd (Bernas) recently made headlines when it received a letter from the public-private partnership unit under the Prime Minister’s Department on the extension of the Bernas Agreement.

This gives Bernas a monopoly over Malaysia’s rice imports for a period of ten years. The extension commenced from Jan 11, 2011 to Jan 10, 2021, subject to terms and conditions.

———

Many are perhaps familiar with local rice custodian Bernas, which is involved in the importation of rice, the trading of local and imported rice, rice milling, and the retailing of rice and other household necessities. Bernas was incorporated on 14 April 1994 by the Malaysian Government as part of its efforts to corporatise the National Paddy and Rice Board. Its activities are basically the commercial and social roles it took over from the rice board and the Malaysian Government. It was subsequently privatised on 12 January 1996 and listed on the Main Board of the Kuala Lumpur Stock Exchange on 25 August 1997.

———

The 10 most popular brands of rice distributed by the company are a mix of local and imported rice: Jati, Jasmine, Faiza Mas, Cap Rambutan, Sunwhite, Bird of Paradise, Sakura, Royal Umbrella, Taj-mahal, and Moghul.

The group also has investments in non-rice businesses such as flour and bread via stakes in associate companies. (My emphases)

See
Agreement on monopoly of rice imports extended in M’sia …
This gives Bernas a monopoly over Malaysia‘s rice imports for a period of ten years. .
sg.news.yahoo.com/agreement-monopoly-rice–imports… – Cached

2 BERNAS IS OWNED BY TRADEWINDS

The major shareholder of BERNAS is Tradewinds (M) Bhd. On 3 November 2009, Tradewinds (M) completed the acquisition of a 31.52% stake in Bernas from Wang Tak Company Limited. It completed the purchase of another 22.24% stake from Gandingan Bersepadu Sdn Bhd on 20 January 2010.

It is to this 3rd box that we should turn our attention. It has to do with BERNAS.

3 TRADEWINDS MALAYSIA BERHAD

Company Homepage: Tradewinds (Malaysia) Berhad

Tradewinds (M) Berhad is engaged in the provision of management services and investment holding.

The Company has four business segments: Manufacturing and Trading, which engaged in manufacture and sale of refined sugar; Plantation, which is engaged in cultivation of oil palm, processing and sale of palm products, and the provision of plantation management and advisory services; Management and Investment, which is engaged in investment holding and provision of management services, and Property, which is engaged in property development and property investment.

In March 2008, the Company through its subsidiary Tradewinds Plantation Berhad (TPB) acquired Kongsi Meriah (M) Sdn Bhd. On January 31, 2008, Amalan Penaga (M) Sdn Bhd, a wholly owned subsidiary of Tradewinds Plantation Berhad acquired 70% interest in Usaha Wawasan Sdn Bhd. On April 3, 2009, the Company, through its wholly owned subsidiary Retus Plantation Sdn Bhd, acquired Masretus Oil Palm Plantation Sdn. Bhd.

Tradewinds Malaysia Berhad – Related Companies

IJM Plantations Berhad
Tradewinds Plantation Berhad
Rimbunan Sawit Berhad
Ekran Berhad
Tanah Emas Corporation Berhad
Equine Capital Berhad
Multi Vest Resources Berhad
TAHPS Group Berhad
Sin Heng Chan (Malaya) Berhad
BLD Plantation Berhad

www.twinds.com.my – Cached

4 TRADEWINDS IS OWNED BY TAN SRI SYED MOKHTAR AL-BUKHARY.

Tan Sri Syed Mokhtar al-Bukhary is currently the richest bumiputra corporate figure with many interest in diversified business areas which include transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation.

He currently holds shareholder-ship in Malaysia Mining Corporation Berhad (MMC), BERNAS, Malakoff Berhad, Johor Port Berhad, Impian Teladan Sdn Bhd and many others. 

skorcareer.com/malaysia-eng/syedmokhtarbukhary-profile.htm – Cached

5 HERE IS MORE ABOUT THE RICHEST ETHNIC MALAY IN MALAYSIA.

Syed Mokhtar-linked companies already control the sugar and rice sectors, two ports (Johor Port and Port of Tanjung Pelepas), an airport (Senai Airport), the nation’s largest independent power producer (Malakoff Corp) and water treatment plants (Aliran Ihsan Resources).

Observers and critics have pointed out that a PLUS acquisition, which operates the 973km North South Highway from Thailand to Singapore, could further concentrate ownership of critical national infrastructure in the hands of a private businessman.

Another Syed Mokhtar (picture) concern — automotive group DRB Hicom — told reporters last month that it is not actively looking to buy Proton Holdings Berhad but did not discount the possibility of doing so.

This followed speculation that it had been given the nod by the government to acquire the national car maker.

skorcareer.com/malaysia-eng/syedmokhtarbukhary-profile.htm – Cached

malaysiaonlinetoday.wordpress.com/2010/10/07/syed… – Cached

6 TAN SRI SYED MOKHTAR AL-BUKHARY IS AN UMNOCRAT.

When Mahathir took office, insiders say, his plan was to create a cadre of 100 super-rich bumis who in turn would help rural Malays into prosperity under a konsep payung, or umbrella concept routed through the United Malays National Organization, much the way he envisioned driving the country into industrialization through massive projects. But greed intervened. Once the privileged got rich, there was little incentive to share it with the kampongs, the Malay rural villages. Many of the companies eventually collapsed and are being supported by government institutions such as Kazanah Nasional, the country’s sovereign investment fund, or the Employee Provident Fund.

…….

Nor were they alone. Others included Syed Mokhtar Al Bukhary, one of Malaysia’s richest men, as well as Yahaya Ahmad, who headed Mahathir’s national car project and who tragically was killed with his wife in a helicopter crash, and Samsuddin Abu Hassan…

www.malaysia-today.net/…/35228-umnos-corporate-cornucopia- – Cache

—

UMNO Kills Chiness Biz » nkkhoo.com

It had prepared itself well for this eventuality and its boss is the leader of the Malaysian Rice Merchant Association. In 2006, Bernas applied pressure on this company …

www.nkkhoo.com/…/politics/umno-killing-chiness-business – Cached

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CONCLUSION

Is it true? Are the Chinese being driven out of the rice business, just as they have been forced out of the sugar business? Many Chinese would say YES!

You will have to make up your own mind.

WILL OIL PALM BE NEXT?

________________________________________________

Selangor executive council member for investment, industry and trade Teresa Kok today defended her visit to a factory jointly owned by a Singapore firm and government-linked Bernas as part of her duties as state exco.

“I went there to officiate its new plant in Shah Alam as the people’s representative.

“I have also attended many functions by companies that are fully or partially owned by BN people, including programmes by Syabas, because I am doing my job.”

When Pakatan is in power, Kok (left in photo) argued, it deasl with and takes care of people of different backgrounds.

She was responding to brickbats from various quarters after she visited the Gardenia bread factory in Shah Alam during its May 11 opening.

www.malaysiakini.com/news/199018 – Cached

_________________________________________________

Bread is not just bread, and rice is not just rice. All over the world, these basic necessities, like everything else, become messily intertwined with the very fabric of society.

BREAD

The market leader for bread is Gardenia, owned largely by Bernas, Padiberas Nasional Berhad (BERNAS), a company listed on the Main Market of Bursa Malaysia.

Syed Mokhtar al-Bukhary controls Bernas.

He is the richest Bumiputra corporate figure in Malaysia. With involvement in diversified business areas which include transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation, he has a net worth estimated to be US$1.7 billion according to Forbes,making him the 8th richest Malaysian.

(Wikipedia)

RICE

Bernas has a substantial chunk of the domestic paddy and rice industry.

BERNAS and its group of companies are involved in the procurement and processing of paddy; as well as the importation, warehousing, distribution and marketing of rice in Malaysia. BERNAS currently controls about 24% of the paddy market and 45% of the local rice demand.

It seeks to expand, and in doing so, it is PERCEIVED to either force out or buy out Chinese companies.

Over the next few parts, I will reveal how bread and rice ARE PERCEIVED as being increasingly under the control of crony companies, that is, businesses friendly to, or proxies of, UMNO.

Truth should matter but, in reality, due to race-tinted perception, truth dies an easy death.

_________________________________________________

BREAD: MASSIMO OR GARDENIA? THE MATTER OF CRONY COMPANIES, FIRMS SET UP BY UMNO OR BELONGING TO CRONIES OF UMNO.

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Sunday 20 May 2012

I first tried Massimo bread in mid-December 2011 (last year). It has been just over 5 months and I have not switched back to Gardenia. It is still rm2.50 a loaf for the bread with wheat germ. It is true that it is not as substantial as Gardenia bread with wheat germ but I find the latter too substantial.

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You can vote whuch bread you prefer, Gardenia, High 5 or Massimo. Just click on the link and scroll down. The votes are in favour for Massimo so far.

mumsgather.com/2011/08/01/massimo-bread-or-gardenia-bread – Cached

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I eat nasi lemak as it’s delicious but I avoid the ones that are too lemak. Nothing to do with who makes it, Malay or Chinese. I love the mee rebus and rojak that the Mamak sells at a Chinese coffeeshop. I haven’t found any Chinese man who makes a better product.

Satay? A Chinese man in Ipoh Garden sells them at 50 sen each; each stick is the biggest you can get it. The Malay man sells them at 60 sen each and his satay is too sweet for me. I order satay on the basis of price and taste.

As for roti canai, the Mamak makes better roti canai than…well, who else makes it? No one else that I know of.

What’s my point? It’s simply that, like almost all Chinese who are Malaysians, I love good food and will frequent stalls and shops that offer good food regardless of whether the seller/owner is Malay, Indian, Chinese, Mamak or Australian. Yes, there is an Australian who makes extremely delicious pies. He’s married to a Chinese woman. We enjoy his pies once a fortnight.

When it comes to bread, I used to buy Gardenia white, not High 5. Gardenia was slightly better tasting. Eventually, I gave up on bread. White isn’t healthy for me. However, recently, a new bread arrived, Massimo. At RM2.50, the loaf with wheat germ is good for my health, the cheapest and suits my taste-buds. My wife likes it, too. Thus, it is Massimo for us. High 5 lowered its price to RM2.80 today (January 2) but I still like the taste of High 5 the least of the three. If High 5 lowers its price to RM2.20, it won’t matter to me. Massimo tastes better.

I eat Massimo for two reasons: it has the lowest price and best taste. It has nothing to do with ownership or whether the firm is a crony company. If Massimo raises its price to RM3.50, I would have to consider Gardenia bread again. The price, as well as taste, is important.

Unfortunately, many people eat Massimo because it is the cheapest, most delicious and, in their belief, made by a Chinese-owned firm, not by a crony company. They boycott Gardenia because, in their perception, it is made by a crony company. That’s what they have decided. They perceive things that way, and they act accordingly.

Which takes us to a very powerful statement, a sociological dictum: when people define a situation as real, it is real in its consequences. (W.I. Thomas, Polish sociologist)

No matter how the owners of Gardenia may attempt to project themselves as not a crony company, the definition of the situation of many bread-buyers/eaters is that it is a crony company. That perception is almost impossible to change.

My advice to Gardenia is not to waste money on adverts but to spend the money in a more worthwhile way: produce a better bread at a lower cost. Then, charge less, far less, than Massimo.

If Gardenia sells a more delicious loaf and at a lower price, they may just be able to get back some of the lost sales.

I, for one, would then buy Gardenia.

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You can read this also in The Malaysian Insider

www.themalaysianinsider.com/sideviews/article/makers-of… – Cached

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Voice of America

News / Asia

Malaysian Ethnic Dispute Centers on Bread

A dispute over bread has become a minor source of friction between Chinese and Malays in Malaysia.

The peculiar controversy began following an online campaign of emails asking the Chinese community to boycott the consumption of Gardenia bread, Malaysia’s most popular brand..

Gardenia, whose major shareholder includes Syed Mokhtar al-Bukhary, a prominent Malay tycoon, faced allegations that it received directions from its major shareholder to stop buying flour from Federal Flour Mills, owned by a Malaysian-Chinese tycoon, Robert Kuok.

As such, Malaysian Chinese are urged to stop eating Gardenia bread but turn to Kuok’s new bread brand, Massimo, instead. The Massimo bread is manufactured by Federal Flour Mills.

Kuok, who is on the Forbes list for being the richest man in Malaysia, made his fortune from commodities such as sugar, flour and palm oil as well as major investments abroad, believed to be out of discontent with the government’s ethnic-centric policies as well as the rise of other opportunities.

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www.voanews.com/english/news/asia/Malaysian-Ethinc… – Cached

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The Star
Sunday January 8, 2012

When bread has race

By RASHVINJEET S.BEDI
rashvin@thestar.com.my

Boycott campaigns of products based on race and politics only shows the shallow-mindedness of some Malaysians.

GARDENIA or Massimo? Roti Benggali or Roti Boy? Mexican bun or French loaf? Walk into any Malaysian home and you are bound to come across a loaf of bread. Whether it’s white or wholemeal, bread is a big part of Malaysian lives.

thestar.com.my/news/story.asp?file=/2012/1/8/nation/… – Cached

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ASIAONE

Malaysian breadmaker Gardenia is facing a storm of protests after netizens called for the boycott of its products.

The netizens claim that the company is discriminating against one of its suppliers for “racial reasons”.

They have also alleged that the company is owned by “an Umno crony”. Umno is the largest party in the Barisan Nasional ruling coalition.

To make its side of the story heard, Gardenia Bakeries (KL) has taken out full-page advertisements in English dailies, refuting the claims.

www.asiaone.com/News/AsiaOne%2BNews/Malaysia/Story/A1…

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Massimo vs Gardenia

I have received no less than 5 emails with the following message:

“Let’s support the new Massimo bread by Robert Kuok and boycott Gardenia bread owned by UMNO crony, Syed Mokhtar’s Tradewind group. Massimo bread has finally arrived in Penang. During promotion the wheat gem bread is sold at only RM2.50 as oppose to RM3.20, go check it out.

http://theitalianbaker.com.my/bread.html”

No, I don’t think we should boycott any product or service based solely on the above crony reason. I would buy Massimo bread if it is conveniently available, fresh, tasty and comparatively cheaper than Gardenia. If for the same type of bread, the price difference is as stated, then there is no need to call for a boycott as the market will adjust itself. Sometimes, when in need, we might not even have a choice, like what we used to watch on television in places of famine. Similarly, I would avoid buying breads from The Loaf, not because I dislike Tun, but because from what I hear, they are much more expensive. Anyway, it would be silly to think Tun needs returns from the venture. This reminds me of Tun Daim’s cocky statement about his gains from the stock market as for weekend spending or something to that effect.

negarakita.com/Post-302523-Massimo+vs+Gardenia – Cached

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jimmyteh90.blogspot.com/…gardenia-and-support-massimo.html – Cached

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Asia Views

Gardenia row points to rising ethnic tension as economy bites

Malaysia

KUALA LUMPUR, Jan 3 — With surging prices leading to belt-tightening, Malaysians are now more inclined to point the finger at each other and frame disputes through racial lenses.

Analysts told The Malaysian Insider the recent campaign to boycott Gardenia bread over allegations it is a racist and “crony company” reflects the reality in the country where nearly all facets of life are seen from a racial standpoint.

Gardenia Bakeries was forced to take out advertorials last week to deny it had been directed by Padiberas Nasional Bhd (Bernas) to stop buying flour from Federal Flour Mills Bhd (FFM) for allegedly racist reasons.

Its decision was sparked by a drop in sales of its popular Gardenia bread as many Chinese Malaysians opted for a new brand in an apparent reaction to a campaign on Facebook and email that was also spread through text messages.

Bernas is owned by Tan Sri Syed Mohktar Al-Bukhary, while FFM is controlled by Hong Kong-based Malaysian tycoon Tan Sri Robert Kuok.

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www.asiaviews.org/index.php?option=com_content&view=… – Cached

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The post below is very obviously anti-Gardenia and anti-UMNO.

7rangers.blogspot.com/2011/11/gardenia…massimo-bread.html – Cached

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