Bumiputeras are graciously allowed to have the crumbs
Revelations from the Panama Papers and the Malaysian Anti-Corruption Commission (MACC) Cabinet asset declaration, clearly shows that political and establishment elites greatly benefitted from the New Economic Policy (NEP).
Five-year plans, annual budgets, tender processes, and other awarding of contracts have all been skewed towards benefitting connected people and their corporations, either directly, or by proxy.
Yes, it can be argued that a Malay middle class was developed through employment within the public sector. Yes, we have a massively bloated civil service. However the lives of the self employed and independent contractors, greatly depended upon connections. In many cases, as Hussein Hamid pointed out in his blog, he as a Malay trader had to complete against public enterprises to make a living. Hussein says
The MACC asset declaration record for cabinet ministers in 2020 clearly shows that 49 ministers and deputy ministers were millionaires. Eleven of them have assets above RM 10 million.
The Panama Papers lists a number of politicians and their families who launder their riches through foreign companies and bank accounts in tax havens.
These people include former finance minister Daim Zainuddin, current minister for international trade Zafrul Aziz, current prime minister Ahmand Zahid Hamidi, Aman Musa, and the children of Sarawak Governor Abdul Taib Mahmud.
Former prime minister Mahathir Mohamed’s children have massive holding of corporate assets. There are also well connected cronies like Syed Mokhtar Al-Bukhary, who accumulated his large corporate portfolio through government sanctioned monopolies and oligopolies.
What hope does the average Malay have when the establishment have their hands out for everything they can get?
The undertaking of public service for altruistic motivations doesn’t exist within Malaysia’s elite establishment. Bumiputeras have been short-changed under the smokescreen of the NEP.
The worst part is that Malays are told they need the establishment to protect their interests. According to Mahathir, they are lazy. The Malay elite have destroyed any semblance of Malay dignity. Self-respect and self-esteem have been destroyed over the decades.
The most important reform needed is to enable Malays to be proud of their culture once again. They have been defamed by the Malay establishment to the point it is damaging communal relations. Malays should have the right to a level playing field in the business environment. Not just expected to take the crumbs that the Malay elite don’t want.
Its time to give Malays the rights to an open access economy. Regulation, monopoly, cronyism, and corruption are making Malays second class citizens in their own country.
Chinese has 90% of Nations wealth????
Do you research, man, this is malicious!!
Consider the NMCs, Petronas, PMB, etc b4 lumping all wealth to the Chinese
Without them the country will be doomed .
23% of malaysian population are chinese. They take 90% of the nations wealth for themselves and live like kings.
71% of malaysian population are malays. They scramble for the crumbs and leftovers of less than 10% of the economic pie and share a plate of menu rahmah with each other daily.
We agree with mr hunter that we must change this and share our nations wealth fairly.
Yes, it is time to give malays open and fair access to our freemarket economy. Their efficiencies has so far been corrupted by the chinese monopoly and bureaucratic hindrance.
The policies must ensure dap's guideline of equal rights to all malaysians. 71% of the wealth for the malays and 23% for the chinese.