Blog Response: Political Issue

A company cannot make it big if it allows only local investments. It is akin to warfare, an army of infantrymen cannot win a war without air and sea forces for support.
Ethnicity is integral in our globalized world, where the Prophet Muhammad cartoons goes to show our weak racial tolerance and sensitivity. We should not ‘color’ different communities. Stereotypes are a catalyst for conflicts. I, as part of this broader community, can also play a part in stamping out racial discrimination.

Suppose you became an entrepreneur. Do you award a tender to an overseas Indian company or a local firm? Your choice and rationale reflects the role of race in your decision-making.
If you chose the local company because you dislike Indian companies, then your sphere of thinking has been inadvertently corrupted by discrimination and stereotype.

You had a bad experience with certain state-backed companies. This is understandable as their states seek to protect their companies, leaving you with the back end of the deal. However, the last thing you want your company to dabble in is the dizzy world of politics.
Maybank discriminate against ethnic minorities, stating that firms on its panel of solicitors must have a minimum of three partners, at least one of whom must be Malay with a minimum stake of 50 per cent in the firm. Not surprisingly, when it is owned by government fund manager PNB1. One must know that since Malaysia’s independence, Malays have benefited widely through government jobs, contracts, housing and other privileges aimed at “boosting their corporate ownership”.
The line of reasoning is flawed. Welfarism degrades society. Malaysia should know that the whole world outside is not going to pander to the every need of Malaysian Malays. They just need to look at their southern neighbour for concrete proof – Singapore.
Singapore has always embraced meritocracy as a key pillar of social, economic and political stability. In a short span of 40 years, she has trumped her neighbours. Is this by any means a fluke?

Allow me to step into a Malaysian politician’s shoes.
“The Malays are the social fabric of our society, we should help them! We should never let them drop below the poverty line!” says one.
“First, implement policies that increases Malay stake in all companies that want to list on the KLSE2!” says another.
The Malays are like an aboriginal group, being outplayed, outwit and outclassed by all the economic biggies, political bullies and social advocators. In effect, getting overpowered by a small yet seemingly all-powerful minority groups like Chinese.
As a state bank, being pro-bumi will allow you to help your own ethnic race and lift it to greater heights. The crux of the problem is corporate involvement in politics, which is unacceptable.

Okay, I admit it. I am Singaporean. I will never know Malaysia’s agenda for giving bumiputera privileges. But I believe in practicality and there is absolutely no reason why Malaysia or any country for that matter should implement such an ethnically-discriminating policy.

(499 words)

1PNB - Permodalan Nasional Bhd
2KLSE – Kuala Lumpur Stock Exchange