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18.9% or 45%? Umno would never tell you the truth


Media Statement

by Ronnie Liu Tian Khiew

(Petaling Jaya, Friday): Opposition Leader Lim Kit Siang who has just returned from Geneva immediately asked whether the Government has forgotten about his promise on revealing the data and methodology on the issue of bumi equity. He must have sensed that the Cabinet has yet to discuss the matter and would probably have intended to sweep everything under the carpet.

I have earlier predicted that the Barisan Nasional Government under Datuk Seri Abdullah Haji Ahmad Badawi would not allow the EPU to disclose its data and methodology to demonstrate how the highly questionable 18.9% bumi equity. Two weeks have come and gone and have you heard anything from the Prime Minister?


My prediction was based on the following observations:


1.                  There's no way the EPU could justify its claims. You do not need an accountant to tell you that using par value as a basis of calculation can never get you the correct answer. The method was used because of political motivation on the part of Umno. Umno would never admit that the target of 30% bumi corporate equity was succeeded so that they could continue to justify the extension of New Economic Policy (NEP). With the prolonged NEP, Umnoputeras could then continue to benefit from measures like mandatory 30% share allocation from listed companies, government and GLCs procurement and other perks and privileges.

2.                  Umno does not want the ordinary Malays and other Bumiputeras to know that all the shares and equity were concentrated in the hands of Umnoputeras, as such realization or awakening would be detrimental to Umno's support base. In other words, they cannot continue to use Chinese and other non-Bumiputera communities as bogeymen or scapegoats. Umnoputeras would not want to lose their undeserved entitlement, abuse of power, corruption, intolerance of others and laziness (borrowing the words from MD SAID of San Francisco, USA- Why are we lagging still?)


Both the prime minister and his deputy would probably pretend that nothing has happened (semuanya ok) and hoping that Malaysians of short memory (mudah lupa) would not question them any further. The lesser leaders like the one described by Mal Inchi2 in his letter to Malaysiakini would continue to be offensive and behave rather arrogantly. After all, Umno leaders have the tendency to rule this country with secrecy and threats.


The anger and concern expressed by Mal Inchi2 in his/her letter entitled   " People shouldn't fall for gov't trick" on Oct 26, 2006 was truly understandable. We agree that TV3 should not be used by the Barisan Nasional Government to "downplay the results of the Asli findings plus an assault on those who question the government's methodology for calculating bumi equity".

He/She quoted from a minister ( no mention of his/her name here but they were all more or less the same anyway) that was interviewed: "The future of the Malays should be decided by the Malays themselves, why are others interjecting in this issue? It's our future, let us decide. Don't create trouble, everything has been fine so far. Even if the bumi equity is 30%, 45% or even 60% now, this still does not change the fact that Malays are marginalised. We (the government/Umno) do not just look at statistics, but we look at reality. Look around you, Malays is still not achieving wealth on par as other races".

Mal Inchi2 was spot-on when he/she lamented that " the Umnoputras are shamelessly playing the racial card again to get the Malays to back them by giving the impression that their rights are being threatened. In reality, it's the future of the Umnoputras wealth accumulation that is at stake, not that of the ordinary Malay on the street".

"We all know that the only ones that stand to lose out big time are the leaders in Umno and their elite circle of friends, contacts and families . If the NEP is abolished, it means no more government contracts, no more endlessly huge amounts of money pouring in to their coffers which in turn means no more luxury cars, no more overseas holidays, no more multiple mansions, no more lazing while at work and no more special treatment from both government departments and the private sector ".

"That is why they are defending it as if their lives depend on it. Let's get rid of these people from governing our country and leading it to waste. Make sure your vote counts in the next election ".


Need I add anymore?


*Ronnie Liu Tian Khiew, DAP CEC member and NGO Bureau Chief

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