5G licence: Return of the 'mahakaya' crony capitalists, PKR MP says
Published: Nov 5, 2024 1:11 PM
PKR MP Hassan Abdul Karim said the prime minister’s struggle for transparency and good governance is being hampered by the return of the “mahakaya” (ultra-rich) crony capitalist group.
The maverick lawmaker said this following increasing scrutiny over the government’s reported appointment of royalty-linked U Mobile as the second operator for Malaysia’s 5G network.
“The Madani government led by (Prime Minister) Anwar (Ibrahim), which is championing good governance and transparency, is now being questioned.
“This comes with the return of the practice of shoring up crony capitalist groups but now coming from the mahakaya group,” Hassan (above) said on Facebook today.
Yesterday, telecommunications provider Maxis said it would engage the Malaysian Communication and Multimedia Commission (MCMC) to find out why its bid to become Malaysia’s second operator of Malaysia’s 5G network did not materialise.
The MCMC did not go into detail when announcing U Mobile’s appointment last Friday, other than it had “rigorously undertaken processes encompassing detailed deliberations on technical and commercial aspects, among others”.
It also said U Mobile can collaborate with other mobile network operators to roll out its network.
According to company records pulled from the Companies Commission of Malaysia, one of U Mobile’s most notable shareholders is Sultan Ibrahim Sultan Iskandar - the current Yang di-Pertuan Agong.
Sultan Ibrahim is the company’s second-largest shareholder with a 22.3 percent stake.
The largest shareholder is Singapore-based Straits Mobile Investments Pte Ltd with a 48.3 percent stake.
Straits Mobile Investments Pte Ltd is fully owned by Temasek Holdings, Singapore’s state investment firm, which is largely perceived as the city state’s sovereign wealth fund.
Types of cronies in Anwar govt
Elaborating, Hassan claimed that under Anwar’s leadership, three types of crony capitalists exist.
Prime Minister Anwar Ibrahim
The first ones, he said, were those who made their fortunes during the first premiership of Dr Mahathir Mohamad - having matured and gained experience over the years and are loyal to the sitting prime minister.
As for the second type, Hassan said they are those close to Anwar but still small-timers and amateurs.
“They are not that brave yet because their movements are watched closely.
“These people have no track record as successful businesspersons but they get some support from the first group in their attempt to establish ties with the prime minister,” he added.
However, Hassan said the third type is quite well-known despite being small in number.
“These people seem to enjoy immunity and cannot be touched due to the 3R ban.
“And their venture into business, though prohibited under Article 34(3) of the Federal Constitution, is now exposed through MCMC’s decision to award the second operator licence for the 5G network to a relative newcomer in the telecommunication industry,” he added.
Article 34(3) states that the Agong shall not actively engage in any commercial enterprise.
As for the second type, Hassan said they are those close to Anwar but still small-timers and amateurs.
“They are not that brave yet because their movements are watched closely.
“These people have no track record as successful businesspersons but they get some support from the first group in their attempt to establish ties with the prime minister,” he added.
However, Hassan said the third type is quite well-known despite being small in number.
“These people seem to enjoy immunity and cannot be touched due to the 3R ban.
“And their venture into business, though prohibited under Article 34(3) of the Federal Constitution, is now exposed through MCMC’s decision to award the second operator licence for the 5G network to a relative newcomer in the telecommunication industry,” he added.
Article 34(3) states that the Agong shall not actively engage in any commercial enterprise.
No comments:
Post a Comment