Tan Sri Basir Ismail, a Chairman of BBMB, was really indignant about what we said. He cancelled my facilities with a bank as good as gave me fourteen days to have full allotment upon my loans. According to a manager of BBMB Kuala Terengganu, a seductiveness they consequence upon my loans covers a entire operating price for a branch. In fact, we were a second greatest comment after a Terengganu State Economic Development Corporation -- or a greatest non-government client.
NO HOLDS BARRED
Raja Petra Kamarudin
It took me a year or so to solve all my debts with a various monetary institutions. BBMB (Bank Bumiputra) was a initial bank we had to pay off since they gave me usually fourteen days to do so. That price me around RM6 million. MBF was an additional RM3 million, followed by Amanah Chase, additionally an additional RM3 million. Kwong Yik, D&C, as good as Bank Islam totalled RM5 million. By a time we accomplished with this 'cleaning up' exercise, including those not as big loans here as good as there, about RM20 million had been staid as good as which got a banks off my back.
To grasp this, we had to unload all my shares whilst during a same time not bail out as good much, as good fast, lest which depress a share price. My wife, Marina, rubbed which part of a exercise, as she was a market 'wizard' in a family. However, we managed to raise usually about RM12 million or so due to a offered frenzy during which time.
To cover a shortage, we had to sell off a four shop lots which we owned as good as two condos in Kuala Lumpur, a single in Bangsar as good as a alternative in Subang Jaya. The part which harm a many was when we had to sell of my 'flagship', my 30% seductiveness in a Mercedes Benz dealership, which was actually utterly profita! ble.
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Basically, we was forced to enter upon upon a 'fire sale' to clean up my debts as good as afterwards try to restart from a bottom.
The RM6 million which we had to pay off BBMB inside of fourteen days is a story by itself. Around which time, a Malay Chamber of Commerce as good as Industry organized a seminar, which was officiated by Tun Dr Mahathir Mohamad, as good as we was selected as a single of a presenters.
In my presentation, we whacked BBMB as good as conspicuous which it had deviated from a objectives of a creation, which was to support Malays who indispensable assistance to get in to business. we talked about a BMF liaison in Hong Kong, which resulted in a tragic attempted attempted murder of Jalil Ibrahim, as a single example of how it had deviated from a 'charter'.
Just to warp a bit, a male arrested as good as locked up for Jalil's attempted attempted murder was Dax Mark, a tighten crony of mine. we am still not sure either he did attempted attempted murder Jalil yet if a court says he did afterwards it contingency be true. we suppose it is really formidable to accept a possibility which a tighten crony of yours could be concerned in such a tall form murder. There were a couple of alternative deaths as well, although a little were conspicuous to be suicides -- although we can never discuss it when someone is found drowned in his swimming pool either it was a self-murder or a murder.
we regularly found Dax utterly fascinating. He was married to a MAS stewardess whilst during a same time he was gripping a SIA stewardess as a mistress. His mother as good as chick upon a side worked different shifts so both would not be in town during a same time. we asked Dax what would occur if suddenly their shifts were changed as good as they both landed in town during a same time. How was he starting to hoop which situation? He shuddered as good as told me not to tempt fate.
Anyway, behind to a issue of a convention as good as BB! MB. we w ent upon to contend which Malaysia is starting by a critical mercantile crisis which is affecting everybody -- Malays, Chinese, Indians as good as all. The Chinese cooperatives have been collapsing as good as need RM3 billion to bail them out. We have been talking in conditions of mid-1980s income value, thoughts you.
The Chinese in jeopardy to abandon MCA as good as opinion DAP if a supervision does not bail them out. Tun Dr Mahathir Mohamad instructed a banks to form a consortium to bail out a Chinese cooperatives, which they did (after all, who can contend 'no' to Dr Mahathir).
The Malays, too, we said, need bailing out, usually similar to a Chinese. If a supervision can bail out a Chinese cooperatives to a balance of RM3 billion (even yet it was 'under duress' since of a Chinese hazard to abandon MCA as good as opinion DAP), why can't a supervision additionally bail out a Malays? Instead of bailing out a Malays, BBMB is taking legal movement opposite defaulters as good as is filing failure opposite them, we explained.
we afterwards quipped which BBMB right away stands for'Basir buat Melayu bankrup'. What do we have to do to get a government's attention? Do we additionally need to have threats similar to a Chinese -- threaten to abandon Umno as good as opinion opposition?
Tan Sri Basir Ismail, a Chairman of BBMB, was really indignant about what we said. He cancelled my facilities with a bank as good as gave me fourteen days to have full allotment upon my loans. According to a manager of BBMB Kuala Terengganu, a seductiveness they consequence upon my loans covers a entire operating price for a branch. In fact, we were a second greatest comment after a Terengganu State Economic Development Corporation -- or a greatest non-government client.
we related this story to an aged crony of my father, Chai Fook Loong. Uncle Chai was surprised. "Basir knows your late father really well," he said. "Why would he do this ! to you?" we replied which we did not know why (and during which time we really did not know -- we did not realize it was related to what we had conspicuous about Basir).
Uncle Chai phoned Basir as good as spoke to him. "Kam's son, Raja Petra, is sitting in front of me," Uncle Chai told Basir (my father's tighten friends used to call him Kam -- conspicuous Kem as good as short for Kamarudin). Before Uncle Chai could contend more, Basir replied, "I know who Raja Petra is. His record is upon my list as good as we am looking during it now."
we do not know what else Basir told Uncle Chai since he refused to discuss it me. He looked extremely perturbed when he put a phone down as good as usually said, "What did we do to a aged man? we know him really good as good as we have never seen him so angry. He is actually a really nice male yet today we am seeing an additional side of him."
we usually told Uncle Chai, "Never mind. we consider we know why." we did not want to contend anything some-more about a matter. we knew we was in low shit with Basir.
The convention was not a total waste, though. Dr Mahathir concluded to a setting up of a Tabung Pemulihan Usahawan (TPU). Bank Negara was to be put in assign of which account yet a Malay Chamber can form a own cabinet to suggest those businessmen who indispensable help.
During a many meetings which we held to sieve by a deserving cases to assist, a Chairman told us which sure names upon a list would have to be private from a list. We were mad as good as demanded to know why. (My name was not a single of those upon a list, though, since we was not a single of those who a banks were suing for bankruptcy).
There was a lot of shouting as good as list banging as good as eventually a Chairman revealed which a names which have been to be private from a list have been those who have been 'blacklisted' by a government. We told a Chairman which Dr Mahathir had betrothed us which a TPU would be 'politica! lly blin d' as good as which assistance would be given to Malays in trouble formed upon their eligibility as good as not formed upon their domestic affiliations.
We told a Chairman which we direct a meeting with Dr Mahathir to clear this have a difference up. Dr Mahathir had betrothed us RM500 million as good as which if RM500 million was not sufficient he was rebuilt to increase it to RM1 billion. But start with RM500 million initial as good as see how distant which goes, Dr Mahathir said. And Dr Mahathir had additionally betrothed which whilst Bank Negara would be a keeper of a fund, there would be no domestic interference from Umno.
It was afterwards which a Chairman told us which a direction to remove sure names from a list did not come from Dr Mahathir yet from Anwar Ibrahim. And a single of a people who Anwar insisted should not get any assistance was Marina Yusoff.
Imagine my warn when around 10 years or so later, when Dr Mahathir sacked Anwar, Marina Yusoff came out to support Anwar as good as even joined PKR (then called PKN) as good as became a single of a Vice Presidents of a party.
we after asked marina Yusoff either she knew which Anwar had scored equally to 'kill' her behind in a late 1980s as good as she confirmed which she did. In fact, she had to ask an assembly with Anwar to have peace with him as good as he concluded to assistance Marina yet would give her usually one-third of what she needed.
One-third was distant from sufficient to bail her out as good as eventually her commercial operation collapsed. Yet, in annoy of that, she still stood by Anwar in his hour of need. And when she joined PKR as good as opposed Umno in 1999, a supervision accomplished her off for good as good as buried her.
Many contend she is foolish for sacrificing herself for Anwar, a male who tried to destroy her 10 years earlier. we suppose which irrationality is in many of us.
TO BE CONTINUED
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