Mahathir, it is wrong for you to chair Khazanah. Full stop.

TTF: Dr Mahathir Moahamd asked if it was wrong for him to chair Khazanah.

According to him, he is not the CEO of the company and is not going to receive a RM7 million pay check.

But here’s what he forgot to tell you:

1. By assuming the role of chairman, he gets to chair all board meetings and decide the order of each meeting.

2. It follows, that he will get to direct discussions and influence decisions in ways that suit his whims.

3. He will also take a leading role in determining the composition and structure of the company’s board to ensure that everyone is on a page with him.

4. There was nothing wrong with Khazanah’s board prior to the mass resignation of all its members.

5. As a matter of fact, former Managing Director Azman Mokhtar managed to increase the company’s net worth by RM75.1 billion in less than a decade.

6. Yet, Mahathir accused the board of “doing all kinds of funny things” without once telling us what those things were.

7. Even if his intent was to revamp the company, he should have stuck with Pakatan’s election manifesto, which, among others, require that there be no political appointments to government-linked companies (GLCs).

8. Mahathir is the Prime Minister of Malaysia. Dato’ Seri Azmin Ali, on the other hand, is the Minister of Economic affairs. 

9. There is absolutely no question that their recent appointments to Khazanah are politically motivated and contravene terms associated with Pakatan’s election manifesto.

11. As it is, Mahathir may already have abused his power as the GLC’s new chairman by not calling off the award of a RM11.6 million project by Telekom Malaysia to Opcom Holdings Bhd (OPCOM).

12. Telekom is a subsidiary concern of Khazanah’s, while Opcom is owned by two of Mahathir’s sons and controlled by one of them.

12. His refusal to call off the project raises concern that he himself had a hand in its award and may ultimately end up benefitting from it.

And yet, he has the cheek to ask if it is wrong for him to chair Khazanah.

KUALA LUMPUR: Prime Minister Tun Dr Mahathir Mohamad today played down criticisms of him being the chairman of sovereign wealth fund Khazanah Nasional, saying he is not carrying out the duties of a chief executive.

“What is wrong with me just chairing? I’m not the CEO. I’m not going to be on a RM7 million pay,” Dr Mahathir told reporters in Parliament.

His appointment, along with the appointment of Economic Affairs Minister Datuk Seri Mohamed Azmin Ali, was criticised for going against Pakatan Harapan’s pledge to allow state-owned firms to be run by professionals, and not politicians.

Dr Mahathir said he is chairing Khazanah as he is trying to change the direction of the fund to focus on certain issues.

“We want to keep it in the right direction. There are certain issues, which I know, because I started Khazanah,” he added.

Previously, Azmin said that despite the appointments of Dr Mahathir and himself, Khazanah would still be run by professionals.

He said that the politicians on the board are only there to represent the government’s economic agenda.

Source: The Malay Mail Online

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