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Sakmongkol ak 47

Wednesday, 18 August 2021

Why we need Tengku Razaleigh Hamzah as our next PM.

1. When we gained independence in 1957 no one thought we can become a bustling economy. An umno leader from Kelantan said how can we be independent when we can't even make a needle?

2. It was another kelantanese, cosmopolitan in outlook, who helped steer Malaya's economic growth.

3. The man's name is Tengku Razaleigh Hamzah. What did he do?

4. The first thing to do is to make the economy work. There's got to be the required infra, a bustling mercantile community, the strengthening of enabling institutions, liberalisation of the economy etc.

5. Tengku Razaleigh Hamzah understood these and single-mindedly helped develop these.

6. At every level, he helped develop these requisites, content to assist Malaysian PMs who were good at broad leadership.

7. That's where you see buildings, roads, railways, ships, ports etc. These were the foundations of a robust economy.

8. I remember him mooting the idea of constructing a railway service traversing west Pahang and linking remote areas in Terengganu and Kelantan.

9. The idea is for people and goods from these areas to get into centres of economic activities. People from the interior becoming integrated into the modern economy.

10. Ku Li understood the importance of spatial economics- with its centripetal and centrifugal forces.

11. What this means is to have administrative and commercial centres become the generator of consequential economic growth.

12. Take Gua Musang for example. It has kesedar, police field force complex, public housing, schools and a robust commercial community. It became a growth pole. Gua musang I think generates the germinal idea of a Putrajaya.

13. It is important to deregulate and liberalise the economy. After independence, the economy was by and large liberalised with little government interference. This I believed made it possible for Malaysia to become an Asian tiger. Tengku was a firm believer in laissez-faire economics. No doubt nurtured in an economics student in Belfast.

14 . Unfortunately, I think because of creeping bumiputraism, big government expanded in the economy in the form of increasing regulations. Instead of becoming promoters of economic growth, the government become fetters.

15. In a sense, what ku Li helped build, was hijacked by overzealous government functionaries.

16. In Ku Li's mind, business and economic growth must always be people centred. That is why he doesn't want the ordinary folks to be afraid of government officials, especially the political leaders. Leaders rise as a result of support from the people. As a result, they must always be humble. Humility promotes candour.

17. Ku Li has always pursued the greater good over the particular good. I have told readers about the story of a car importer asking Ku Li(who was then MOF) for concessions not to pay tax first. Ku li asked the man to come back after Friday prayers. After prayers, Ku Li approved the creation of bonded areas in car importer premises. For all. Many don't know that the idea of bonded areas in car importers premises is the idea of Ku Li.

18. Ku Li is behind most of the important economic institutions. Entities like Pernas, pnb, bbmb, bank pembangunan. And of course petronas. He took a salary of only RM4000 pcm after persuasion from Tun Razak.

19. I believe that Malaysia needs a steady hand as PM. I have no doubt that person is Tengku Razaleigh Hamzah. Not only does he understand the economy, we also need a firm hand in dealing with the deadly c19 pandemic.

Bolehkan kita dipimpin dan bangkit dari krisis sekarang ni?

Is there a credible leader to lead us out of the current crisis?

Seorang pemimpin yang sedia diterima oleh semua golongan di Malaysia....


In 1975, as the Chairman of Petronas, Ku Li single-handedly brought the oil & gas giants (Exxon & Shell) to the negotiating table to RENEGOTIATE the terms of their Agreement with the Govt of Malaysia.
Backed by the Petroleum Development Act 1974, which he had helped craft, (most of which he “stolen shamelessly” from Indonesia and then perfected) he made these giants, our ‘Contractors’ (versus being Concessionaires) and made them accept 41% of the profits versus 95% of the Production.

I was then a young accountant with Exxon and was only allowed to sit at the back, as an observer/notetaker at the negotiations.
I watched in awe as he literally told Exxon that they are free to walk away, if it did not make business sense to them and that there were many others in the wings waiting to step into their shoes.

Exxon & Shell decided to play poker and walked away BUT 18 months later they came crawling back and accepted Ku Li’s terms in full!

The rest is, as they say, HISTORY.

This single act, made Malaysia what it is today, economically.

This fact has been wiped out from our history books by you know who ...

- David Dzulkifli


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