Which Eco-system did Nazir Razak come from?

The youngest son of the Father of NEP

The wake of so many Non Malays and Liberal Malays openly and bluntly questioning the New Economic Policy (NEP), CIMB CEO Dato’ Seri Nazir Razak yesterday made a scathing remark as “The NEP was bastardized”, thus insinuated that the socio-economic transformation plan failed to meet its objectives as set out 1971. He was a guest speaker at the MCA organised Chinese Economic  Congress.

The Star report on the congress:

Sunday August 15, 2010

See diversity as strength, not a weakness, says CIMB group chief

KUALA LUMPUR: Malaysia needs to build on its diversity as its strength and review the affirmative action policy created under the New Economic Policy, said CIMB group chief executive officer Datuk Nazir Razak.

Saying that it would not be easy to review the affirmative action, Nazir said the NEP as it is known today is “so embedded in everything Malaysians do in every part of Government and business that it becomes a problem.”

“It is time to review and ensure that the implementation of affirmative action is consistent with what we need and what we want as an economy.

Rapt attention: Nazir at the congress yesterday.

“NEP was a 20-year policy, and to me, the original aim was poverty eradication.

“Yet, there are so many aspects and so many policies that use the NEP’s name,” he told newsmen on the sidelines of the Chinese Economic Congress here yesterday.


It is blatant unfair for Nazir to speak against the NEP is this context, at the Chinese Economic Congress. The Malaysia economy had always dependent with the Federal Government as the main driving force. The first 50 years of nation-building process, Malaysians across the board were dependent on almost everything with regards to socio-economic development process as majority of Malaysians, especially the Malays and Bumiputera were deprived of infrastructure, education, health and socio-economic programs because of historical and geographical inherent issues.

NEP was launched by Prime Minister II Tun Abdul Razak Hussein in 1971 as an answer to grave socio-economic imbalance with a bold economic restructuring and transformation plan, to eradicate poverty and narrowing the socio-economic gap and standing between ethnic groups and the urbanites and rural folks. It is a part of an affirmative action plan involving socio-economic development programs which focused on infrastructure, education and socio-economic development which saw more opportunities being opened to the lesser privileged, particularly the Malays. NEP was a massive implementation plan that had been provided for the Malays and Bumiputeras as the majority and indeginous Malaysians, as per inscapsulated and enshrined in the Federation of Malaysia Constitution.

An economic graduate from the UK, Nazir Razak is undoubtably a product of NEP. The eco-system that was created particularly the on going stability and harmony between ethnic groups, which in turn allowed economic progression to flourish and thus strengthened the economy which include growth in the financial and capital markets. Nazir Razak benefitted directly from this stability, growth and opportunities that were opened up to him as a young investment banker. He was doing corporate advisory for CIMB; the right job at the right time.

The father of affirmative-action-NEP Malaysia and his five boys

At this raw age of early thirties, the rapid economic progress and bullish financial and capital market acitivities, which is translated in the form of the various IPOs, financing facilities and instruments being developed and marketed and termendous corporate advisory opportunities and deals that were opened up, Nazir was made the CEO of a fast growing investment bank. The growth and progression of then Commerce International Merchant Bankers Bhd. was meteoric and exponential that it was enable to ‘eat up’ Bumiputra Commerce Bank Berhad.

Then the whole group became CIMB Group and Nazir rose to be the CEO and eventually, a partial shareholder.

Needless to say, Bumiputra Commerce Bank Bhd. was a transformation from the original Bank Bumiputra Bhd., which was the ‘NEP Bank’ created in the 60s after the First Bumiputra Economic Congress held and discussed the serious lacking of the Malays in the position and role of the Malaysian economy and how it was very difficult for Malay businesses to have access to financial services, especially when all the banks then were either controlled by expatriates or the Chinese.

When Nazir joined and allowed to progress in CIMB, it was then part of Commerce Asset Holdings Bhd. ( an ‘UMNO-linked company’ – ULC), which was part of the web of ULCs such as Fleet Group, MRCB and other privately owned companies.

Nazir as the current CEO of CIMB still enjoy the ‘NEP’ eco-system that was created and grew to this level. CIMB is still the preferred Federal Government banker. In 2006, CIMB under his watch proposed that conglomerates that were created and formed as an NEP tool to address the Malay economy and provide a better distribution of wealth, Sime Darby, Guthrie and Golden Hope Groups be merged into one large conglomerate. CIMB’s special purpose vehicle Synergey Drive Sdn. Bhd. took the task to merge and rationalise these various conglomerates and earned a huge sum of fees from this mega-sized corporate exercise.

Didn’t Nazir personally “Bastardize the NEP”?

Tun Razak, Najib dan Nazir

Questions often loom that had Nazir not been in the NEP-induced Malaysian eco-system, would he had the opportunity to bloom himself this far? Had he came back from England in the mid 80s and worked in Singapore, would he be the CEO of the second largest banking group in the regional financial by now?

Like it or not, Nazir benefitted directly or indirectly by the eco-system of Malaysia, which growth, progress and opportunities created enabled his personal faster-than-average progression and achievements. His stance is reflective of his Liberal Malay-ness, which inadvertently defies the aspiration of the Malay majority. Whether he agree or not, the socio-economic decisions that have been made so far would need to take the Malays’ interests into perspective

Nazir must remember, what ever he utter will indirectly reflect on his father, who was the architect and mover of NEP and his brother, who is the sixth Prime Minister and seventh President of UMNO. He should do his best to ensure that NEP worked better for the Malays, instead of bickering from a very narrow and skewed spoilt Liberal Malay perspective. This is more so with the  New Economic Model now being planned. The Malays are already skeptical with the NEM and remarks like this, will not pacify the Malays closer in giving PM Dato’ Seri Mohd. Najib Tun Razak the strong support he much needed.

Nazir to conveniently forget that it was the NEP eco-system made him the man that he is today, would probably earn him the title “Kacang lupakan kulit“. Just because he directly no longer require the bridge, he suggested that the ‘bridge be burnt’ for the many who have little choice but to be dependent.

It is very unfortunate for PM Najib to take the flak on the things that Nazir said and slight the Malays further.

Published in: on August 16, 2010 at 14:30  Comments (32)  

Felda failkan saman atas PKR dan Suara KeAdilan hari ini

Muka depan Suara KeAdilan Jun 2010

Felda tengahari ini dijangkakan akan memfailkan saman keatas PKR dan Suara KeAdilan kerana memfitnah. Saman ini akan difailkan di Mahkamah Tinggi Kuala Lumpur, 230 petang.

Timbalan Menteri di Jabatan Perdana Menteri Dato' Ahmad Hj Maslan menunjukan muka depan Suara KeAdilan

Saman ini timbul apabila Suara KeAdilan memaparkan fitnah bahawa Felda telah bankrap pada Jun lepas dan pemimpin PKR menggunakan laporan palsu ini sebagai modal ‘politik fitnah’ dan ‘politik kebencian’ bagi menaburkan tohmahan agar rakyat, terutama orang Melayu hilang keyakinan kepada Kerajaan bawah kepimpinan PM Dato’ Seri Mohd. Najib Tun Razak.

Felda melalui peguam mereka telah menghantar ‘notis tuntutan’ namun PKR dan Suara KeAdilan memilih untuk tidak respons and mengabaikan notis tuntutan ini. Maka tindakan susulan ialah memfailkan saman kerana fitnah yang dibuat.

Felda dijangkakan akan menuntut kerugian kerana laporan fitnah ini kerana menjejas kredibiliti mereka kepada 5 juta yang diktegorikan terangkum sebagai ‘warga Felda’ seluruh negara. Felda juga menjelaskan bahawa laporan fitnah ini menjejaskan keyakinan agensi itu sebagai penguasa program pembangunan tanah Persekutuan dan sebagai konglomerat berasaskan pertanian yang berniaga diperingkat global. Felda dikatakan terpaksa menjelaskan kepada rakan-niaga mereka diluar negara dan ini adalah perbuatan yang tidak bertanggung jawab hanya memenuhi kepentingan politik sempit dan terdesak PKR.

PKR dewasa ini berada dalam kedudukan amat terdesak kerana sokongan keatas mereka semakin tiris, kerana kegagalan melunaskan ‘janji janji dan keyakinan palsu yang dibina’. Semenjak setahun ini, PKR telah ramai kehilangan pemimpin dan ahli yang keluar kerana kekecewaan dan ‘keyakinan palsu’ termasuk amalan nepotism yang terlalu nyata, termasuk Setiausaha Agung Dato’ Sallehuddin Hashim, mantan Ketua AMK Ezam Md. Noor, Ahli Parlimen Dato’ Seri Zahrain Hashim, Tan Tee Beng, Tuan Haji Mohsin Fadzil, Zulkifli Nordin dan Wee Choo Keong dan seorang ADUN Tan Wei Shu. Sebelum ini Timbalan Ketua Menteri Pulau Pinang Mohd. Fairus Khairuddin juga meletakan jawatan dan akhirnya meninggalkan kerusi ADUNnya.

Sejarah menunjukan begitu ramai pemimpin kanan PKR telah meninggalkan perjuangan sia sia parti yang berlandaskan hanya semata mata agenda politik peribadi seorang pemimpin terdesak yang dipecat UMNO 12 tahun dahulu Anwar “Mat King Leather” Ibrahim dan segala ‘keyakinan palsu’ sebagai modal. Personaliti politik yang mempunyai pengaruh besar seperti Dr Chandra Muzafar, Abdul Rahman Osman (kedua dua ini pernah menjawat Timbalan Presiden PKN), Ruslan Kassim, Lokman Noor Adam, Datin Paduka Marina Yusuf, Dato’ S. Nalla Karupan dan lain lain.

Sepanduk PKR yang memaparkan gambar Tuanku Sultan Johor sebagai modAl kempen; ehsan blog idealismalaysia.blogspot.com

PKR terlalu nyata mengamalkan politik kebencian dan perpecahan sehingga DYMM Sultan Johor menarik kembali darjah kebesaran DPMJ dan SPMJ Chua Jui Meng kerana cuba memecah belahkan masyarakat Cina Johor. Minggu lepas Tuanku menitah murka mengenai PKR berkempen atas penarikan balik ‘Dato’ ini dan menggunakan baginda sebagai modal untuk kempen. Akibatnya, baginda menitahkan agar rakyat Johor “Jangan kadi bodoh dan terpengaruh dengan hasutan PKR”.

Sekarang terpulang kepada PKR dan Suara KeAdilan untuk membuktikan bahawa ‘Felda sudah bankrap’ dan kegagalan hanya menguatkan kedudukan mereka sebagai parti politik yang bergantung atas ‘politik fitnah’, ‘politik kebencian’ dan ‘keyakinan palsu’.

Ini bukan kali pertama Suara KeAdilan diugut untuk diheret ke Mahkamah kerana menyiarkan berita fitnah dan bertujuan sengaja memberikan gambaran bahawa pemimpin Kerajaan merupakan dikalangan mereka yang tidak boleh dipercayai. Sebelum ini MB Perak Dato’ Seri Dr. Zambry Abd. Kadir juga membuat ugutan yang sama apabila Suara KeAdilan memaparkan beliau sebagai “Seorang disyaki pengganas”.

*Perkembangan dikemas kini 335pm

Felda memfailkan saman berjumlah RM 200 juta keatas Presiden PKR Wan Azizah Wan Ismail, Timbalan Presiden PKR Syed Hussin Ali dan tiga lagi.

Laporan The Star:

Published: Monday August 16, 2010 MYT 3:41:00 PM

Felda sues Suara Keadilan, five others for RM200mil

KUALA LUMPUR: Felda has filed a RM200mil defamation suit against PKR newsletter Suara Keadilan and five others, including PKR leaders Datuk Seri Dr Wan Azizah Wan Ismail and Dr Syed Husin Ali, over claims that it was bankrupt.

The publication’s publisher, printer, editor and reporter were also named in the suit filed by Felda’s lawyer, Datuk Hafarizam Harun, at the High Court civil registry here at 3.20pm Monday.

Published in: on August 16, 2010 at 09:59  Comments (1)