India's predatory strategy for acquiring for free foreign banks, business and factories has very bad ramifications on some countries in South-East Asia countries notably Malaysia and the Philippines and may be the little red dot where the Indian chief from India is playing havoc with the island's biggest bank and with staffing lots of his native villagers in the bank. He has also caused Singapore to lose billions of dollars by using the local bank's capital to invest in a gigantic failed Indian bank in India and also in other entities with bottomless pits.
Under Mahathir's watch of over twenty-two years as Malaysia's prime minister, his policies were more or less entirely based on India's predatory strategy on robbing and stealing governance under fake rules disadvantageous to local and foreign investors. Mahathhir, like India's Modi is an Indian from Kerala State so it is no surprise they think alike. But he becomes a pseudo Malay for political reasons. Out of Mahathir's predatory strategy, he has left Malaysia a legacy of endless corruption, nepotism, cronyism and patronage. During his term of office he basically based his policies on racial politics. His New Economic Policy was predatory and bent on stripping Malaysian Chinese wealth and riches. In parliament he introduced a bill to legalise his predatory policy against Chinese Malaysians. Under his new economic policy all companies in Malaysia whether local or foreign must have one third or about thirty-five percent Bumiputra or Malay partnership and an additional clause stating that each and every company must have at least thirty percent Malay workforce.
Mahatir had a magic wand to help Malays get one-third partnership in all Chinese companies either private or listed without having to pay a single cent. A company is by law forced to increase its company shares and issue about thirty-five percent of the shares to the Bumiputras or Malays. However, this policy does not benefit all Malays. Only those in power the Malay party and political leaders, the so-called nobilities and their close relatives and close friends get all the benefits and maybe some junior party members may get some benefits but not much.
Party members and their relatives may get special preference in job placements or promotions. Thus nepotism, cronyism and patronage becomes permanently entrenched and this has a bad effect on the country's economy and development. It is claimed that Mahathir's children undoubtedly benefited tremendously from the scheme and have become very rich billionaires or millionaires.
Another predatory act of Mahathir was his indigenous bill in parliament that with one stroke of the pen he could rob away billions of dollars from Singaporeans or others who might have indulged in trading with Clob Shares over the counter in KL and Singapore Stock Exchange. His bill on Clob shares dishonoured on the validity of Singaporeans ownership of these shares which had been valid and legal for years until Mahathir decided that it was illegal. So he hijacked all the Clob Shares causing Singaporeans to lose hundreds of billions of dollars.
However, it must be stated that all the time during the dispute Singaporeans were assured by the Singapore government that trading in Clob Shares was legal. Thus in this episode of Mahathir's predatory plunder thousands of Singaporean workers from office clerks to hawkers and housewives completely lost their hard earned savings.
Mahathir's predatory strategy in his New Economic Policy has caused the trust of the business world in Malaysia. It seems some Chinese companies have shifted much of their investments elsewhere notably in Thailand, Indonesia and China. Also all government offices and departments not only employ over 95 percent of Malays but every department is so overstaffed that usually these officers have nothing to do but indulge in idle chit chat and they also quietly leave office earlier than the official dismissal time with no consequence at all. This is due to Mahathir's policy of patronage to help the so-called bumiputras.
What does not benefit him from his predatory strategy he would sabotage. He sabotaged Najib's HSR cooperation with China to build the HSR from KL to Singapore and also the Forest City commercial development in Johore Bahru. This caused investors to lose many billions of dollars in investments. Mahathir's strategic predatory policy has left Malaysia a legacy of distrust, corruption, nepotism, cronyism and patronage. However, with the present Malaysia government under the more enlightened administration Malaysia will see the better light of its future.
Southernglory1. Monday, 23rd September, 2024.
Some people wonder if India's predatory strategy is also affecting the little red dot though in internal entities. People wonder if the red dot is also seeing some sort of nepotism, cronyism and patronage . Hope it is not .
ReplyDeleteMy source told me that Dr.M did not sabotage Najib's HSR cooperation with China but rather Singapore wanted to work with the Japanese. So the cost become too high and Malaysia had to cancel it. Recently it was reported that Malaysia have to seek Singapore permission in order to start the HSR again, but this time working with China instead. My take is that, Malaysia should just go ahead to work with China & build the HSR to end in Johore. Singapore can then go begging to have it run into Singapore. In this way, Singapore will have to paid for all the construction cost (& using China standard instead of Japanese) to link to Johore.
ReplyDeleteThere is no strategic predatory policy more toxic, poisonous and disastrous than those of the white people especially the Anglo-Saxons USA and UK. Look at how the UK, US, France and Spain plundered and took illegal possessions of almost all the countries in Africa, Latin America, Australia, New Zealand and Pacific islands and all the wealth and resources therein practically for free. Look at the US dominated World Bank, IMF and SWIFT. They are all white controlled institutes headed by US to impoverish countries of the South with permanent debt traps to enrich USA and all white countries to suit US and its White mafia gangs geopolitics of world hegemony.
ReplyDeleteRahim Mobuto : Congo.
Welcome to the blog, Rahim Mobuto : Congo.
ReplyDeleteAgree, but many daft Asians and Africans still believe the white men are the good guys.
Little wonder Mahathir never would allow Anwar to become PM. Anwar will undermine his agenda. Karma is now working against Mahathir, with even his children under scrutiny for being given advantages under his leadership.
ReplyDeleteMahathir destroyed the country for generations, not just during his Premiership. It will take another generation or two to reverse his education policy, even if they were to try to do it. It will take generations to get rid of the deep-seated corruption within the establishment. It will take decades to attract back the talents that he drove away during his premiership, mostly to the benefit of Singapore, especially the Chinese. The incentives for doing that are just not there for those who wants to return to serve the country,
ReplyDeleteI would not just blame Mahathir alone. It was already a festering disease of corruption within the racially endowed ruling establishment even before he came to power, but he was the one that made it worse with his never ending New Economic Policy that basically alienated the Chinese and Indians. Most of these non-Malay Malaysian talents were later to become of great benefit contributing to Singapore, people like Goh Keng Swee and Hon Sui Sen among others.
In Malaysia, Goh and Hon would never have been given the chance to rise in positions to serve the Malaysian Government. The pro-Malay establishment would never allow that. Meritocracy never had a chance in Malaysian politics, only cronyism and racial factors matter.
It is really ironic that Malaysia, with all the natural resources became a pale shadow of its southern neighbor that was to arouse deep jealousy and spiteful behavior from Mahathir and his cronies. Now, with UMNO in the coalition, fighting corruption is a mountain to climb for Anwar Ibrahim, if he were to try. This is the biggest problem to overcome.
Mahathir is the root of all evil in Malaysia. He has turned Malaysia into Malusia.
ReplyDeleteMahathir also destroyed the billion dollar Forest City Project, causing the developer to go bankrupt. Worse, no one would dare to invest in Malaysia anymore.
ReplyDelete