Books have been created about Tun Daim Zainuddin, though not many people know who the genuine Daim is. He is critical for being taciturn. Everyone knows which Daim is the wordless type; so silent, in fact, which the victims of his shaping as great as conniving have fallen like ten pins though ever meaningful what strike them.
He has, upon the quiet, done the career of shooting poison darts, laying booby traps. as great as knifing associate or foe in the back. His palm is never seen, though his mark is everywhere. Truth to tell, he has been during the root of many inhabitant crises, though his name has never been smudged, interjection to the resources he wields as great as his bond of loyalty with Dr. Mahathir.
Silent cancer
Most members of Umno's brand brand new generation have been wakeful which Daim is an acquisitive millionaire as great as the macho male with the taste of young women, though they concede him these weaknesses bec au se they see in him the clean as great as efficient Economic Adviser to the Government. But the generation of Harun Idris, Musa Hitam as great as Manan Othman to name usually the few of the aged hands - they have been the ones to ask in sequence to discover who the genuine Daim is.
It was Datuk Harun who plucked Daim up from the depths of disaster in the salt business. Daim's wife, Mahani as great as Harun's wife, Salmah were great friends as great as an successful pair in the early 1970s. It was mother energy which moved Harun to give Daim 160 acres of prime Kampung Pandan land. And to illustrate Syarikat Malur! i was bo rn.
There is no use speculating over how many Daim paid Harun. After all, the dual were quick friends. For the bloody details, usually ask Low Kiok Bow or Thamby Chik. They can relate how Daim deceived the land broker as great as greased Selangor state executive councillor as great as Mahathir's brother-in-law, Ahmad Razali for which piece of land.
Of course, Daim still had to compensate for the land. In those days, it was not easy to borrow from the bank. Hence, he was forced to corrupt Bank Bumiputra. Lorraine Osman as great as Rais Saniman know how many he spent. Manan Othman can no doubt endorse the figure, he was so tighten to Daim which they tried to share the girl friend, with Manan often borrowing the bedroom during Daim's office in Taman Maluri.
Mahathir's choice
Daim's elevation as Senator and, subsequently, Minister of Finance, was part of Mahathir's vital plan. Mahathir's choice should surprise no one, after all the dual were intimate friends from the same kampung in Seberang Perak, Alor Setar. Upon apropos Prime Minister upon sixteen July, 1981, the initial thing upon Mahathir's mind was how to sideline his archenemy, Tengku Razaleigh Hamzah.
Daim told everybody he had no seductiveness in politics, though all the whilst he was assured of getting the Finance Minister's pursuit after the army with the Senate. A few months after fasten the Senate, Daim became Chairman of Fleet, which owned the New Straits Times. In 1984, he eventually got his mental condition pursuit as great as became the third many critical male in the Federal Cabinet, after the Prime Minister as great as his deputy.
Musa squeezed out
Musa Hitam, the Deputy Prime Minister, was during initial oblivious of the closet ties in in between Mahathir as great as Daim. Innocently, he voiced to Mahathir his disquiet over Daim's wheeling as great as dealing, quite his award of proj! ects as great as contracts to his own associates as great as cronies. It contingency have baffled him when his complaints fell upon deaf ears nonetheless he was Deputy Prime Minister, he has no contend when it came to mercantile matters, quite privatisation as great as the assignment (to supporters) of mercantile projects.
How disappointed Musa contingency have been to find which Daim could not care reduction about his effort to assistance his supporters secure the little projects or contracts. Daim succeeded in making millionaires of such cronies of Wan Azmi, Halim Saad, Tajuddin Ramli, Samsuddin Hassan, Razali Rahman as great as Tan Sri Basir, though Musa in the finish was expel off as the poor ex-DPM.
Musa once complained to Mahathir which Daim had stolen the series of supporters' devise proposals, though again Mahathir abandoned him. These were the initial acts in the eventual breakup of the Mahathir-Musa partnership. As the interests of Mahathir as great as Daim bloated, Musa got squeezed out.
Pushing Musa to tie up with Razaleigh
Many Umno members pretence which Razaleigh is Musa's series the single enemy. In fact, the reason for the 1986 split in Umno contingency tumble upon Daim. It was he who gathering Musa to the edge until he had no choice though to resign. Again, Daim's male of few difference demeanour to his advantage. Few knew of his behind-the-scenes role in which Umno detonation not many some-more know it today.
One really should not wonder since Musa called the truce Razaleigh as great as the dual motionless to collaborate in the 1987 fight, the a single which in the future c au sed Umno to be outlawed. At which time, Daim was almost invincible, what support entrance from such strongmen as Sanusi Junid as great as Anwar Ibrahim. The affability of the 3 was rock solid, as great as the Musa-Razaleigh camp could do zero solely to have the fun of it by giving them the nicknames AIDS.
The arrangement of the brand brand new Umno, Daim as great as Mahathir had initial to get absolved of the Lord President, Tun Salleh Abas. Again, Daim was the chief plotter in the sacking of the divine as great as respected Tun Salleh, as great as his replacement with Tun Hamid Omar, the seducer as great as ongoing gambler, though Mahathir's as great as Daim's schoolmate. The appointment of Tun Hamid Omar triggered the collapse of the firmness as great as the independence of the judiciary.
Finance Minister, Daim swayed Mahathir to give the Economic Planning Unit as great as Treasury full energy in implementing the privatisation policy. Hence, it was no longer required to call for tenders for supervision projects. Instead, the projects were awarded directly to favoured companies. And so began the epoch of resources accumulation by him as great as his cohorts.
The United Engineers Company, bought for RM2, altered in to the multi-million- ringgit corporation. As Finance Minister, Daim most ordered banks to lend to companies which he himself owned. And no Daim associate each complained of difficulty in securing bank credit. Indeed, bankers lived in fear of Daim. Having allocated Wan Azmi as great as Basir to conduct Malayan Banking as great as Bank Bumiputra, he would give any devise to any of his cronies bec au se funding was not an issue.
If those earthy projects were not enough, Daim additionally took each opportunity to take resources from the share marketplace as well. Every time the Treasury authorized the company for inventory upon the batch exchange, Daim cronies received their lion's shares. That was how Southern Bank, Resort World, Sports Toto, Berjaya, Tanjong as great as scores of alternative blue thinly slice firms landed with Daim as great as Company.
Once, when share values were high, Daim boasted in between friends which his visible resources alone totalled RM65 billion! . To clo se the mouth of Barisan Nasional leaders, Daim gave remunerative projects (CRUMBS) to Samy Vellu as great as Ling Liong Sik so which their young kids could be big-shots in batches.
Free to plunder
Daim managed to dope Umno members in to believing which Mahathir would not let him go nonetheless he had asked to be relieved of his Cabinet post upon the series of occasions. With Musa as great as Razaleigh out of the picture, Daim could squeeze as many resources as he longed for though even Mahathir interlude him. Besides, he was Umno's treasurer as great as he could have it demeanour as if the companies he tranquil were those in which the celebration had the stake.
Daim's covetousness damaged not usually his own picture as finance minister, though additionally Mahathir's as great as Malaysia 's reputation with the general community. It is pronounced which he used to demand exorbitant fees for himself in negotiating contracts involving unfamiliar suppliers. The chairmen of Japan 's dual greatest banks - the Bank of Tokyo as great as Sanwa Bank - once complained to Mahathir which his Finance Minister demanded commissions which were as well tall when negotiating yen loans.
Margaret Thatcher, too, has complained about Daim's role as the consecrated agent. He had - or still has - accounts in Zurich , London , Hong Kong, Tokyo , Singapore , Caymen Island , Channel Island as great as Virgin Island. Indeed, instead of keeping his billions in Malaysia , he has stashed them overseas.
Even conspiring to waylay KTM land in S'pore
With his measureless resources as great as far-reaching influence, Daim in the future became the weight which Mahathir could no longer bear. In each understanding he made, there was something in it for himself. It was not beneath him even to conspire with Lee Kuan Yew to waylay KTM land in Singapore . The Malaysian Cabinet had no believe of this. But th! is emana te of Malaysia being deceived by Lee Kuan Yew as great as Daim is distant from over.
Mahathir in the future realised which he had to finish Daim's lordship over the Finance Ministry. And so he told him to quit.
Mahathir disturbed which if Daim continued as Finance Minister, complaints would come not usually from Vincent Tan, Ananda Krishnan, Arumugam (M's DIRECT CRONIES) as great as alternative members of the Malaysian commercial operation elite, though additionally from unfamiliar leaders.
Signs of the Daim-related liaison were meaningful as great as it could break anytime in Japan or Britain , therefore, Daim had to go.
Daim had to go
Daim's abdication was planned such which it would not crop up as if he had been sacked. Indeed, it does not have sense since the powerful Finance Minister, rich as great as in carry out of so many open companies, would suddenly quit simply since he had mislaid seductiveness in the job. The truth is which he was ordered to resign.
Observers will stop which Mahathir's initial comment upon the supposed greeting was, 'He has asked multiform times for permission to resign, as great as you have eventually authorised it. you goal Daim would not leave the country after resigning'. That matter was profound with meaning. Mahathir knew Daim was sulking. So did Anwar as great as Sanusi. Mahathir defended Daim as Umno Treasurer for the great reason, he longed for to safeguard the safety of Umno money, the lot of which was underneath Daim's control.
But Daim who binds so many of Mahathir's secrets, is usually the wily one. After resigning, he ran off to live in his San Francisco residence. He told the Malaysian open he longed for to investigate during Harvard, though in actuality he longed for to leave Malaysia . Mahathir, who was informed with Daim's antics, pleaded with him to come back, saying he need him to suggest upon mercantile matters.
Da! im retur ned as great as announced which Mahathir had declared him Economic Adviser to the Government. Rafidah asked Mahathir to endorse this, though all she got was silence. Daim was never rigourously allocated as Economic Adviser, the post which Tun Raja Mohar once held. The appointment is the privilege of the Public Services Department. Daim gave himself the job. To keep Daim happy, Mahathir authorised him to open an office during the Economic Planning Unit, as great as this strengthened the open notice which he was still in carry out as distant as mercantile affairs were concerned.
Rafidah some-more honest than Anwar?
When he was to told to renounce as Finance Minister, Daim asked Mahathir to designate Anwar Ibrahim to the job. Obviously, he suspicion this would assistance to safeguard which his skeletons would sojourn closeted. He warned Mahathir of the hazard which Rafidah would be to both of them: the secrets they common would be uncovered.
Daim additionally swayed Mahathir to designate Mustapha Mohammad as Anwar's emissary since these dual could be depended upon to fill up the holes he had left gaping. Anwar is nobody's fool, though he sacrificed his idealism to protect his towkay.
As distant as you know, no Finance Minster in this universe has late the billionaire, solely Daim. In the book Daim yang Diam: Sebuah Biographi (Daim the Silent: A Biography), Daim explains his retirement: 'I am happy in retirement. It was as well complicated the responsibility. In truth, you adore the commercial operation world. Business is in my blood. you adore to have money. you know how to do it. you can do it usually by sitting in this chair. On the propitious day, you can have millions.'
Friend of Soros
According to an inner bank analysis, collaborated by the corporate community, as great as from Daim associate Amin Shah, Daim's wealth, in ringgit as great as unfamiliar currencie! s kept a broad currently amounts to RM20 billion.
With so many income during his disposal, Daim can manipulate the Kuala Lumpur Stock Exchange. He showed his palm in 1991, usually to infer how many change he wielded. After offered off his stocks, he done the matter to the effect which the marketplace would crash. And pile-up it did.
As you can all recall, even Mahathir could not assistance though have the wry acknowledgement when Daim boasted which he invested in KLSE usually for slot money. But to his great friend, Daim pronounced he could spin in distinction upon RM90 million the day when the marketplace was up. When the marketplace plummeted in October 1991 Daim bought during the back of his share upon the cheap. When the marketplace turned bullish again 1995 as great as 1996, Daim done billions of ringgit from it. This, then, is what the work of an mercantile adviser amounts to.
So it turns out which Soros is not the usually large time marketplace pimp as great as banking dealer. Daim met Soros twice in London when the ringgit was being hotly traded. Anyway, when the ringgit fell next RM4 to the US dollar, Mahathir asked Daim for assistance and, according to the source in Singapore, he mislaid RM1 billion perplexing to column up the Malaysian currency. To remove which many in banking trading, imagine how many income he had during his disposal.
Mahathir panicked
The falls in banking as great as share values put Mahathir in the feverish panic. He knew his policies as great as his own martial perspective were partly to blame. Seeing Mahathir in such the demoniac state, Daim endorsed which he declare the state of puncture to capacitate him to revive the manage to buy as great as during the same time, bury the corpses which were commencement to stink.
We accost the Chief Secretary to the Government as great as the Solicitor-General for hostile the move. If Daim's devise had been followed, Mahathir woul! d spin t yrant as great as the Malaysian manage to buy would be utterly ruined. Having failed to declare an emergency, Mahathir set up the National Economic Action Council, headed by Daim, with the Economic Planning Unit as the Secretariat.
The strange devise was to give the NEAC finish autonomy, though the Cabinet ministers opposed this for fear which they would remove any heirloom of energy they had left. Eventually, the legislature became merely an advisory body, with the Cabinet carrying last contend upon the recommendations.
Daim eventually found the road-block in Anwar
The investiture of the legislature was the wedge in in between Anwar as great as Daim. Thus, dual aged friends who had together stood during the back of Mahathir opposite Musa were right away turned opposite each other.
All of the council's recommendations were deserted by the Cabinet as great as Bank Negara. Daim plainly assailed Bank Negara for dismissing his proposals, such as those relating to seductiveness rates as great as credit control.
We salute the Bank Negara Governor for maintaining the advantageous financial process in the face of Daim's bullying as great as insults. Unlike Daim as great as his cohorts, Bank Negara's officials have been not self-serving.
Daim's appointment to the NEAC was the major inhabitant mistake. Going by press reports of the deliberations so far, the NEAC's solitary engrossment is with saving mega corporations from bankruptcy. No doubt, these have been Daim-related companies.
Daim has yet to show any regard over the climb in the price of chillies, or the leaps in fish prices or how the price of rice has fully cooked over. Neither has he talked about tiny businesses in their genocide throes. Class F contractors starting bankrupt or kampung road projects being abandoned. In his dictionary, there have been no entries for the tiny man's worries, zero about low-cost houses, H2O cuts or ! investig ate funds for the young kids of poor Malays. In fact, it contains usually billion distance figures.
Jet-setting with his brand brand new mother whilst others fall
While the Malaysian manage to buy is tighten to ruin, Daim remains the billionaire, vital the hold up of glamour, jet setting with his brand brand new mother Naimah as great as the attractive Josephine, an Indian young woman who helps him run the single of his firms, the International Malaysian Bank.
We have merely since the sketch of who the genuine Daim is. A thorough account will shortly be accessible in book form. We recommend the book to Umno members, generally those with large ambitions, bec au se they will learn many from the illusory though true tales of mercantile as great as political intrigues.
We malign the likes of Vincent Tan as great as Tan Phek Khiing for land-grabbing, though maybe you should ask the Menteri Besar of Johor as great as the Menteri Besar of Kedah how many land Daim has taken.
Ask Sanusi how many Daim paid to the Kedah supervision for 12,000 acres in Sungai Petani as great as how many distinction he done from them. For 12,000 acres, Osman Arof had to be sacrificed. The true story of the Daim-Sanusi conspiracy in Kedah will be unprotected in the book.
Crossroad
Umno is during the crossroads as great as has to confirm wisely where it is going. One road heads to glory, where stability as great as democratic use will abide. The alternative leads to division, sovereignty as great as ultimately, utter destruction.
The call for reform, which used to be done usually in whispers during small, sly gatherings, is apropos louder. Umno members, display which they can no longer enclose their restiveness as great as frustration, have begun to plainly discuss the need for change, even during celebration conventions.
Can there be the clearer indica! tion whi ch they have reached their tether's end, which they can no longer stomach the leadership's undemocratic perspective as great as the prevalence - either in the celebration or the supervision - of favouritism, cronyism, nepotism, graft as great as alternative misdeeds? Malay nationalism is dead as great as materialism as great as self-love have been running amok.
We cannot rely upon the Umno Supreme Council to initiate reform since few of the members have the courage to speak up. In fact, the legislature has lately been remade in to the digression theatre. But of march even the digression can wave though great ancillary players - fools, clowns, jesters, attendants as great as the oh-so- critical flatterers.
As distant as these bit players have been concerned, Umno's ideals as great as principles have been not as critical as their jobs. This keep-your-mouth- close set of symptoms serves usually to give courage the celebration care in the conceit, arrogance as great as h au ghtiness. A boss has become the dictator. Woe have been the Malays as great as Umno. What is to become of them? That is the subject usually Umno members can answer.
Professor Mohamed Zain
Professor of Technology & Strategic Management
College of Business & Economics
University of Qatar
- MAILBAG
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