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
'No one will win a trade war,' China says after Trump tariff threat
Donald Trump says he would impose the tariffs until China stops the flow of illegal drugs, particularly fentanyl, into the United States.
What has caused Pakistan's deadly clashes between police and supporters of Imran Khan?
Topping the demands of Khan's Pakistan Tehreek-e-Insaf (PTI) party is the release of all its leaders, including Khan, who has been jailed on a series of corruption charges since August 2023.
One woman or girl killed every 10 minutes by intimate partner or family member - UN
The report highlights that "60 per cent of all female homicides" are committed by "people closely related to them".
Sweden urges Chinese ship to return for undersea cable investigation
Two subsea cables, one linking Finland and Germany and the other connecting Sweden to Lithuania, were damaged in less than 24 hours.
[COLUMNIST] Building more highways won’t solve traffic congestion - reducing demand will
It is clear that adding more lanes and highways doesn't work, because we are still attempting the same approach to solve the issue.
Hyundai to invest RM2.16 bil in Malaysia through strategic partnership with INOKOM
This investment includes efforts to upgrade INOKOM's existing assembly capacity to meet Hyundai's automotive needs.
‘C4Cinta’ sets record as highest-grossing Malaysian Tamil film
'C4Cinta', directed by young filmmaker Karthik Shamalan, has set a new benchmark in Malaysian Tamil cinema.
Man charged with mother's murder, storing body in freezer
The court denied bail and scheduled case mention on Feb 7 for the submission of forensic, autopsy, and chemist reports.
Abolition of examination in schools to reduce pressure on pupils - Fadhlina
The classroom assessment approach offers a much more interesting learning ecosystem, says Fadhlina Sidek.
Google, Meta urge Australia to delay bill on social media ban for children
Google and Meta says the government should wait for the results of an age-verification trial before going ahead.
Judge tosses Trump 2020 election case after prosecutors' request
It represents a big legal victory for Donald Trump, who won the Nov. 5 US election and is set to return to office on Jan. 20.
DHL plane crash in Lithuania leaves authorities searching for answers
Rescue services said the plane hit the ground, split into pieces and slid over 100 metres (110 yards).
National squad to hold friendly matches for 2025 Indoor Hockey World Cup
The warm-up matches will involve matches against better ranked teams in the world, namely Austria (first) and Belgium (third).
G7 seeks unity on ICC arrest warrant for Netanyahu
The United States, part of the G7, has rejected the ICC decision, with President Joe Biden describing it as outrageous.
Francissca Peter remembers Tan Sri Ahmad Nawab: A tribute to a musical legend
A legend who has influenced our music for decades, was one of the highlights of my career, says Francissca Peter.
TikTok decision coming soon as Jan. 19 divestment deadline looms
Judges are reviewing TikTok's challenge to a law requiring ByteDance to sell its US assets by Jan. 19 or face a ban.
Lebanese sources: Biden, Macron set to announce Israel-Hezbollah truce
In Washington, White House national security spokesperson John Kirby said, "We're close" but "nothing is done until everything is done".
PM meets chaebol tycoon to attract more FDI to Malaysia
Chaebols are prominent figures from South Korea's family-owned conglomerates.
Govt won't allow non-citizen vehicles to enjoy RON95 subsidy - Economy Ministry
The implementation of the RON95 subsidy in 2025 is expected to provide savings of RM3.6 billion to government expenditure.
Ringgit opens lower as greenback gains ground
Dr Mohd Afzanizam says the market responded positively to news of hedge fund manager Scott Bessent heading the US Treasury Department.