Tuesday, June 20, 2023

Did UMNO and privatisation assets end up in Mahathir and Daim's hand?

The UMNO Veteran Secretary General, Dato Mustapha Yaacob begin to raise questions over it. 

Question he should because both Mahathir and Daim insist to remain Trustee for UMNO's assets which include the party headquarter and adjoining convention centre. And, Halim's letter claimed he paid for the construction. 

After 2018 BN lost, Mahathir and Daim almost succeeded to pressure UMNO to sell but pressure from few vocal MT members halted its transfer. 

It is widely believed within the remain of the Team B faction of Tengku Razaleigh Hamzah that UMNO's assets in the form of Fleet Group were stolen by Mahathir and Daim

Proxies and intermediaries are used before the UMNO assets or crown jewels of government's privatised agencies and projects or businesses of their so-called cronies come under their control.

Since the two old duo control many strategic businesses, how much is each of their net worth?

Estimated net worth

According to the late Barry Wain, the former Wall Steet Journal journalist who wrote and published the 2009 book, Malaysian Maverick - Mahathir Mohamed in Turbulent Times, "direct financial losses amounted to about RM50 billion. 

"This doubled once the invisible costs, such as unrecorded write-offs, were taken into account. The RM100 billion total loss was equivalent to US$40 billion at then prevailing exchange rates."

He estimated Mahathir may have squandered off RM100 billion

Without a legitimate and on-going concern, it seemed far fetch. Apparently a foreign website made a list of richest world leader of all time. Mahathir appeared ranked 30 out of the list of 36 at USD45 billion. Robert Kuok pales in comparisan at USD11.8 billion albeit 3.8 times.   

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