ALL rise! Hail the Malay `BBs’ – bumiputera billionaires. Where ratings agencies give triple `A’ ratings for exemplary corporate performance, it is high time we cast `envious eyes’ – (don’t bounce out yet, bear with me) – at what can; because of the corona frown, be considered a rare (and now endangered) species.
Forbes, has just announced its Rich Malaysians list. Invest in the biggest magnifying glass you can afford, but you will not find an Abdul or a Mohammad in the list. Bumis – you still have some way to go.
It is around this time of year when a now defunct local business publication will come up with its version of Malaysia’s Richest Tycoons edition.
Published without fail year in year out, this will have been the culmination of dedicated trawling and meticulous sifting of information mined from publicly available sources. The most reliable being the declarations lodged at the Companies Commission or filings to the local bourse.
The usual suspects will fill the top positions – indeed categorised in the billionaire band – your usual banking, casino and gaming czars who are mostly first or second generation Chinese who are especially mercantile in building their fortunes.
In the beginning, no Malay names made it to the list – millionaires, what more billionaires; but as edition built upon edition, there emerged one, then two and three.
But none ascended the ladder sufficiently high to reside in the billionaire bracket.
Now, what’s this I hear of an ongoing court case that nails the lie that bumis are willing, but unable; to be billed as billionaires? Well – almost; for a certain politician was a tad (just a hundred million ringgit) shy of amassing a fortune of the big `B’!
I have no truck with the size of his wealth – by all accounts he was especially adept at picking and owning shares in industrial and commercial conglomerates for which he deservedly profited.
What’s at issue and being dragged before the courts was how a mere two million – yes, who was it who would have described this figure as just weekend spending money – being the sum a willing businessman bequeathed to what was at the material time, the ruling party.
I put myself in my imaginary LV carpet slippers – ahem ahem, worn by another very rich son of this soil – interpret the defence as: “Come on ya’all; I am worth billions, would I be so hard-up for a piffling two million?” Let’s see what the learned judge is already penning in his mind in response to this one.
In a way, we should not be surprised at the financial prowess of members of my ethnic community lately.
Some only learnt that another minister was in the billionaire bracket only after his death during divvying up of the inheritance.
Then there are those who steadfastly remain private entities not subject to stricter capital market scrutiny.
Stories abound of politico fat cats who fly their spare spouses all over the world in their private airforce giving a kampung twist to the pleasures of the mile high club.
So, be jealous all you want, be envious for all you are worth – these billionaires are a breed apart.
But hold it….of all of the seven deadly sins, perhaps envy is excusable. The Malays call it cemburu, as opposed to iri hati or dengki (which equates to jealousy).
Cemburu or envy leaves room for attempts at emulation, while dengki and iri hati may spur one to ill-thoughts – and hence, ill-deeds.
So envy the BBs – aspire to their lofty positions, and remember your friends when you arrive at your destination.
Razak Chik
Fri Mar 06 2020
In a way, we should not be surprised at the financial prowess of the bumiputeras lately. - Photo for illustration purpose
Who is Prabowo Subianto, incoming president of Indonesia?
A wealthy ex-general with ties to Indonesia's popular outgoing president and its dictatorial past, looks set to be its next leader.
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.