Corporate Malaysia has failed

By Nawawi Mohamad | November 09, 2011
The Malaysian Insider

NOV 9 — Tun Dr Mahathir Mohamad was a visionary leader who forcefully guided Malaysia’s development by corporate nationalism to achieve the status of a developed nation by 2020.

He made great achievements based on the benchmarks and milestones but was also hampered with some failures, but still the situation had not been that bad; there was still light at the end of the tunnel and remains in effect to the end of his term in office.

Unfortunately the success story stops here and the derailment began. Abdullah Badawi was not able to fill the shoes of Dr Mahathir. Abdullah Badawi was lost in his own world, without any real grasp of what was going on in the country economically, financially, socially and politically.

He pushed everything to the “fourth floor goons” led by his son-in-law to manage the country.

A classic example of his reply on the RM150 million owed by Osu Sukam to one of the casinos in the UK, whereby just by referring to some newspaper articles Abdullah made a knee-jerk condemnation of the former Sabah chief minister, without considering the political impact and the integrity of the BN government.

Abdullah is neither a real politician nor a leader to lead the nation. He was just a caretaker and a lousy one too.

Dr Mahathir was already furious when Abdullah scrapped the crooked bridge project resulting in the government having to pay roughly RM115 million compensation to the concessionaire and concluded that Abdullah was not only unfit for the post.

Meanwhile, the economy was getting stagnant, yet the cost of everything rose and the government simply could not make ends meet. When Najib Razak took over, he had no choice but to borrow.

The government had borrowed before but this time was out of desperation.

Thus our national debt is now more than RM407 billion (2010 figure). The problem with Najib is that he has too much in his hands. He has his personal scandals, wastages and extravagance, his brothers’ issues, his wife meddling in running the country, her extravagance, and lately, his own son is also in the news pertaining to one timber company.

Everything he proposed and tried to execute, just did not work as planned. The problems are further aggravated by the scandals of Khir Toyo, Sodomy II, Bersih 2.0, MACC deaths, police brutality and incompetence, the deterioration of Umno, the doom of Gerakan, MIC and possibly MCA, the RM407 national debt, and the Auditor-General’s report on the callous government spending in 2010 that ended up in the opening of the Pandora box!

In short, Najib has not been able to focus on the management, development, economy and financial health of the country. I need not write the details here as you can find the information from the recent book by Sahbudin Husin.

We have already been informed of the RM6 billion loan by the EPF to Felda (which has not enough money) and Petronas has to issue bonds for development capital. The next train for another disastrous derailment has already begun with continued borrowing and overspending.

It seems that the Umno/BN will eventually have to beg make ends meet. Corporate Malaysia in going bankrupt.

  1. #1 by monsterball on Wednesday, 9 November 2011 - 8:09 pm

    Mahathir’s vision was how to steal billions and buy up the country and people.
    Badawi’s vision was to get all Malaysians supporting him….as Mahathir left him a Government it empty cans and worms..and very poor support from Malaysians. Unfortunately..he talked and slept…and run away.
    Najib’s vision is not to loose the 13th GE at all cost to save his own skin.

  2. #2 by waterfrontcoolie on Wednesday, 9 November 2011 - 10:03 pm

    Yes, he was a visionary with HIS CAREFULLY PLANNED AGENDA: TO ENSLAVE AND BLEED THE NATION DRY!! His vision of Looking East was/is just for want of a better phrase to hide his own agenda! Anyone taking the trouble to scrutinize ALL his Privatization projects will conclude that tbey were actually PIRATIZATION of national resources hidden under the slogan created by Thatcher. Every project was undertaken with costs increase or overrun by numerous folds! Of Course the Majority of the people of this nation will have to bear the final costs and they seem happy to do it by bending on their knees to praise him. Well Malasyians you all deserve it! What is $407 billion, soon it will be 4.7 trillion with Petronas pledged until 2100!

  3. #3 by tak tahan on Wednesday, 9 November 2011 - 11:18 pm

    He reminds me of Bakri.A visionary one with hidden snaky distortion mind.

  4. #4 by tak tahan on Wednesday, 9 November 2011 - 11:30 pm

    Some reporters must ask his wife’s stand on Marina Mahathir thought and belief which are contrary to her father.That will be cool.

  5. #5 by passerby on Thursday, 10 November 2011 - 3:05 am

    Mamakthir does not deserve any praise at all. What so great about him and what great things has he done? All he did is picking low hanging fruit and at the same time helping himself with it. Any idiot can do that.

    Now that the easy part is done, do you think the brainless umno can turn Malaysia into a developed country by 2020 with the kind of under qualified personnel it has? The smart ones have already left and you think you can create high tech mnc with what you have left?

  6. #6 by ENDANGERED HORNBILL on Thursday, 10 November 2011 - 3:47 am

    tHANK YOU tUN mahathir FOR THIS STUpid mess you have created for malaysia.

  7. #7 by ENDANGERED HORNBILL on Thursday, 10 November 2011 - 3:49 am

    Pak Lah’s story of the goons is tun M’s creation.

    how can anyone be so stupid to make a snoring pak lah a PM? What was behind tun M’s big idea? To controlpak lah & lead him by the nose?

    Golly, mahathir, what a nut!

  8. #8 by monsterball on Thursday, 10 November 2011 - 4:29 am

    Mahathir vision is stealing people’s money by the billions and encouraged his UMNO b members to be corrupted in which ever ways they can.
    Coming from a PM…all did so with no fear.
    22 years past under him as PM…it became in incurable disease that up to now…he is so proud of his vision that made him a PM for 22 years.
    Abdullah vision was to correct all the wrongs that Mahathir did.
    Starting with the crooked bridge he cancelled the project…caught Mahathir hoping mad.
    Mahathir knew the UMNO b crooks had it so good…will do whatever he wanted. He went on a rampage…yelled..shouted….and all the crooks including his arch rival….Tunku Razaleigh stood besides him…all with selfish ulterior motives.
    But Badawi was unable to deliver whatever he promised when he won the election with 92% support from Malaysians.
    With the pressure from Mahathir and Dollah’s own doings…it was easy for Najib to take over.
    From day one….Anwar Ibrahim declared Najib was not fit to be PM.
    Najib first task was to create sodomy2 to get Anwar into jail and from day one of his APPOINTED PREMIERSHIP…Najib have been trying to fool and threatened Malaysians with all sorts of stunts that backfired.
    How can Malaysia succeed with thieves.. robbers .murderers…little napoleons…governing the country?
    Malaysians had to shallow all the bitter pills .suffering silently…until 12th GE….the birth of a united three parties to challenge BN.
    So successful was the challenge…that more than 3 years..Najib is still an appointed UMNO b PM….never been elected at all.

  9. #9 by Jeffrey on Thursday, 10 November 2011 - 6:39 am

    I am trying to figure out what writer Nawawi Mohamad is trying to say here. In the first place which has failed – Corporate Malaysia or Malaysia Incorporated? He appears to think well of TDM, calling him visionary, by comparison to his bungling successor Abdullah Badawi as if latter were mainly to blame for failure of M’laysia Inc. As an example of bungling the writer referred to Pak Lah’s “classic knee-jerk condemnation” of Osu Sukam’s gambling debts based on “some newspaper articles” without considering the political impact and the integrity of the BN government”. Until now I can’t figure out how so that’s the case! What’s wrong with Pak Lah saying the former Sabah Chief Minister “failed as a leader” and condemned him for “tainting and tarnishing his leadership?

  10. #10 by Jeffrey on Thursday, 10 November 2011 - 6:43 am

    Former Sabah CMi Osu Sukam gambled, failed to appear in the London Court over a bounced cheque he issued to the casino in 2002, resulting in a Judgment entered by English Court against him and when Ritz Casino sought to register and enforce the judgment here, he sought to thwart that enforcement by saying gambling was against Malaysian public policy. And the High Court actually agreed with Osu at 1st instance until overruled by Court of Appeal/Federal court. What credibility would our legal system have if our politicians could go around incurring debts with casinos around the world and run back here without accountability under lame excuse that gambling was against our public policy? Is it our public policy to allow them to gamble in licensed casinos, incur debt that they won’t pay, and run back here and ask our courts not to enforce the debt they incurred with eyes opened? How exactly then what Pak Lah condemned about Osu was wrong without considering the political impact and the integrity of the BN government?

  11. #11 by Jeffrey on Thursday, 10 November 2011 - 6:54 am

    He writer appears apparently impressed with TDM absolving him from mess he created by pushing blame to his successors. Ourse TDM is disappointed with his own handpicked successors; why he is disappointed with every one including every PM (except Tun Razak) before him and every of his deputy! He said that Badawi “was not able to fill the shoes of Dr Mahathir”. No one could: it is hole one falls in….

  12. #12 by Jeffrey on Thursday, 10 November 2011 - 7:01 am

    How can one pin the failure of Malaysia Incorporated on everyone else in charge and not its principal promoter responsible for conceiving its flawed business model at inception?

  13. #13 by SENGLANG on Thursday, 10 November 2011 - 8:16 am

    Malaysia economy was in fact crippled not by abdullah or najib but by mahathir. During his early years all are fine but he allowed the cronyism and corruption to go on uncheck and this cancerous evils was not be able to cure as of today.

    There was not solid foundation and it was merely lucky as the environment was good for his last 22 years.

    he made many big mistake such the TNB & PPP issue that lead to high cost of electricity.

    He also create the corrupt environment. he has failed the nation

  14. #14 by dagen on Thursday, 10 November 2011 - 8:32 am

    I may sound repetitive and boring but because I had a secret pact with cintanegara to support umno I must continue with my (by now) familiar-to-all line.

    The author above is being anti-agung, anti-sultan, anti-islam jenis umno, anti-gobermen, anti-melayu (actually umnoputra), unpatriotic, ungrateful, etc etc and hence he is ISA-able.

    OK. Let me ask for payment first before I continue with what I really hv to say. Hoi cintanegara, where is the 10million you owed me and dont forget my RM100,000 for this latest remark.

    Done! Whaaa fat tat loorrr. Fellas, dinner’s on me. Now go to any umnoputra owned restaurant and enjoy. Bring your family and friends along. My account. Yes. Just mention my name OK? They owe me 10,100,000 ringgit. So dont worry, just eat as much as you people can.

    Now seriously, dr mamak a visionary? My foot! It is easy to be a visionary. Just like what chef gusteau said in ratatouille, “anyone can cook”, so can any monkey be a visionary. Really. Look at all the other countries in the world that had progressed in the last 50yrs. Their leaders are all visionaries too and a substantial bit more. For you see they all could see what is good for the future of their country (yes visions of the future) and they could also see what is not good for the future of the country (visions which the so-called visionary apanama somehow does not have). And didnt our fathers tell us that it takes a hundred yrs to build up an empire and a mere one year to destroy it. Dr mamak’s lack of good vision in some crucial areas effectively destroyed the country, the system and the people. We must remove the system which is now occupied by umno. And it will take us a hundred yrs to rebuild. No thank you dr mamak, you have been a great disservice to us.

  15. #15 by k1980 on Thursday, 10 November 2011 - 9:07 am

    Hey Shahrizootletcumi, my family oso works very hard one, so how come they no granted soft loan of RM250 million and a 5,000-acre plot of land? Is it because my family no mamak, unlike yours?

  16. #16 by TheWrathOfGrapes on Thursday, 10 November 2011 - 9:14 am

    /// He made great achievements based on the benchmarks and milestones but was also hampered with some failures, but still the situation had not been that bad; there was still light at the end of the tunnel and remains in effect to the end of his term in office. ///

    Yes, and that light is the light of an on-coming train. And that train is wrecking havoc now and will continue to do so for some time to come.

    Mahathir was lucky to be in power during the boom years (except his last few years in office). High tides lift all boats. In a blizzard, even turkeys can fly. Yet he squandered the fortunes of the country away. What happened to Petronas’ hundreds of billions?

    Yes, there are some high-profile developments. But those were achieved at taxpayers’ money and way over budget, with some much leakages.

    The guy who ruled for more than 22 years laid the foundation for the ills we see in Malaysia (or should I say he undermined the foundation?). And yet you chose to put the blame on the 2 PMs who came after him.

  17. #17 by SENGLANG on Thursday, 10 November 2011 - 10:16 am

    Mahathir has ruled this country over 22 years. Though democracy by name but the centre of poer was Mahathir. Ling and samy was his yes men represent the other group. Look at ling and samy, one is facing charge and the other was holidays in his native country. They are many of his own men are enjoying the money they have robbed from the rakyat over the past 22 years.

    Naim has comfortably and may be living better then a king or queen. The MAS boss has also disappear and living some where with immunity of being persecuted. The renong bos was also disappear some where. All the cartoons are Mahathir products and they have been the front men during his time.

    The Chinese bosses have benefited hugely such as the IPP where gas subsidy are given to them at the expense of all electricity users.

    Look at NFC issue? Don’t this was the Mahathir culture? This was just an extension from what has been practice for the past 22 years. it is not Abdullah and najib serve under mahathir.

    The current cancerous ills of this country was founded bo other then this egoistic Mahathir.

    Look at the corrupted judiciary? It is not Mahathir who has cultivate it? Putting all his yes man and force the good men into retirement? So this ill is conveniently extended by Abdullah and najib as they also found this kind of judiciary is good for them to cling into power.

  18. #18 by born in Malaya on Friday, 11 November 2011 - 1:00 am

    No thanks to the bunch of King of racism UMNOs.

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