Ramifications of India's predatory strategy for acquiring for free foreign banks, business and factories.

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.