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Thursday, September 24, 2020

Dr Mahathir’s spectacular failures

All of Dr Mahathir’s piratisation projects failed. The profits and returns they expected did not happen but the profits of the cronies are legally protected. His Malay crony-billionaires failed spectacularly while his Chinese backers and their crony Malay non-executive directors continued to rob the country dry while at the same time are financing DAP.

erl-fare

This was the comment that Hattusa Zahn posted in Malaysia Today that I thought I would share with you:

All of Tun Dr Mahathir Mohamad’s ventures, which depended on future profits, failed and didn’t reach expectations. When Dr Mahathir retired Malaysia’s GDP per capita was a quarter of what it currently is. So the mamak is sore that he failed to achieve what Lee Kuan Yew did — leave a developed country upon retirement.

In 22 years of Mahathir’s quasi-dictatorship the country’s GDP increased from US$25 to US$90 billion. However, between 2003 and 2015, the nation’s GDP increased to US$340 billion.

Dr Mahathir knows his legacy is mediocre and that he left a mess. Uncompleted buildings from his era litter the Kelang Valley, many of which were rehabilitated under the Tun Abdullah Ahmad Badawi and Prime Minister Najib Tun Razak administrations

The LRT crony companies became bankrupt and disjointed, which Abdullah and Najib fixed through Prasarana/Rapid. Credit has to be given to Najib for slowly fixing this mess.

Thanks to Najib we now have a comprehensive compulsory preschool system that Dr Mahathir was not able to implement in his 22-year rule. Hopefully we will not see Malays and low-income kids going to standard 1 not knowing how to count and read within 7 years.

And Najib’s PEMANDU has come out with a strategy on how to improve the economy.

All of Dr Mahathir’s piratisation projects failed. The profits and returns they expected did not happen but the profits of the cronies are legally protected. His Malay crony-billionaires failed spectacularly while his Chinese backers and their crony Malay non-executive directors continued to rob the country dry while at the same time are financing DAP.

*********************************************

That was the view of Hattusa Zahn, which is not too far off the mark. Anyway, talking about Dr Mahathir’s Chinese backers and their crony Malay non-executive directors, maybe the following documents regarding ERL can shed some light on the matter. Note one name in those documents and who he is.

ERL1 ERL2 ERL3 ERL4 ERL5 ERL6

Raja Petra Kamarudin

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