Monday, 16 August 2010

Chinese thrived under the NEP says SP Setia's Tan Sri Liew

Forget the recently held politically loaded MCA sponsored Chinese Economic Congress which is nothing but an attempt by the MCA to out-DAP the DAP in championing issues hoping against hope that the Chinese votes will come back to the MCA. Got news for the MCA, the DAP have almost 75% of Chinese votes in their pockets already and it would be next to impossible for Dr Chua and the President's men to put their hands in DAP's tight pocket to take it away in time for the next GE, better to ask for votes from the Malays dudes, instead of making the Malays become nauseated of the word "MCA".

Dr Chua, the MCA and the DAP and Gerakan and their supporters should read this report of a speech(ironically in the same Congress) by a truly 1Malaysia citizen, Tan Sri Liew Kee Sin, boss of SP Setia, one of Malaysia's premier housing developer in the country:

SP Setia chief claims Chinese thrived under NEP

By Yow Hong Chieh August 14, 2010 (MI)


KUALA LUMPUR, Aug 14 – Top property developer Tan Sri Liew Kee Sin today punctured the Chinese community’s complaints that it had been treated unfairly by the government, pointing out that Malaysian-Chinese have fared well under pro-Bumiputera policies.

Liew, whose SP Setia Bhd is behind some of Malaysia’s biggest property developments including in Putrajaya, said statistics show there are more Chinese-controlled firms than Bumiputera companies on the local bourse.

“Statistically, Forbes magazine shows that the Malaysian-Chinese can prosper over the last 30 years,” said the SP Setia president and chief executive.

According to Forbes, Chinese-controlled companies account for 37 per cent of market capitalisation among the top 100 Malaysian listed companies, compared to Bumiputera equity of seven per cent.

Chinese individuals also control 73 per cent of the wealth owned by the top 40 richest Malaysians and make up eight of the top 10 richest Malaysians.

“Have we fared badly?” Liew asked rhetorically.


He pointed out that Chinese small-to-medium enterprises (SMEs) had done very well too, and that their owners could even afford to buy the multi-million ringgit bungalows put up by his company.

“One Chinaman want to build a bungalow of RM40 million!” he said.

“That’s wealth. Where did wealth come from? The wealth came in the last 30 years of so-called NEP (New Economic Policy) policies.”


Liew also argued that the increased presence of government-linked companies (GLCs) in the market meant that Chinese businesses would soon have no choice but to tap into Malay expertise and funds if they wished to increase revenues in the future.

“Today, the government has money through GLCs (government-linked companies)... They can buy buildings off you, they can buy your supermarkets, your hypermarkets, you shopping centres from you. That will give you a big source of income,” he said.

“It’s up to us. Do we want to tap into their expertise, financial abilities? Do you want to tap into their so-called connections?”

However, Liew stressed that such Malay-Chinese cooperation required a spirit of give-and-take.

“Before we start asking them to give us more liberal policies... we must also allow them to come to our sector, things that we are good at. If not, this so-called collaboration will not happen. They will not allow us,” he said.

“If we were to say we want to take a bigger pick from this economic cake from under the NEM (New Economic Policy)... we must also learn to give in.

“We must also learn to take a step back. We must also learn how to live with their culture, their mindset.”

He explained that the Malays still feared that the Chinese would “run over them and kill all of them” if they (the Chinese) were not bound by pro-bumiputera policies.

“That is their mindset. Whether it’s inferiority complex or whether it’s upbringing, whether it’s cultural... it is there,” he said.

Liew reminded delegates that it was only pragmatic for Chinese companies to link up with Malay ones as business was all about profit, not politics.

“We’re in business. Our job is to make money,” he said.

“Are we prepared to be a small fish in big market or the big fish in a small market? It’s up to us.”


The good Tan Sri is certainly right when he said "Before we start asking them to give us more liberal policies... we must also allow them to come to our sector, things that we are good at. If not, this so-called collaboration will not happen. They will not allow us". I think the key word is you give only then you take.

MCA in trying to outdo the DAP is following DAP's footstep of demanding and demanding but never show any indication of giving. Making one wonder whether the MCA is on the same page as BN or DAP now. MCA should realise that they now depend largely on Malay majority votes for their survival, they better know which side of the bread they butter.

Anyway Malaysia really need to have more enlighthened and forward looking Chinese Billionaires and Millionaires like Tan Sri Liew who dare to come out in public and say that the NEP has benefited the Chinese probably more so than other Malaysians instead of rhetorics from politicians with votes in mind.

Though freedom of speech is a wonderful thing, I hope that there are not many like Nazir Razak, the NEP millionaire who happens to be the son of the former PM and brother to the existing PM, who is now fast becoming a poster boy for the anti NEP affirmative action movement by design or by accident. This is what Perkasa's President have to say about Nazir; Ibrahim Ali raps Nazir for talking nonsense about the NEP and another hot chilli for Nazir from blogger anotherbrickinthe wall; Nazir anak Bangsawan should stop talking cock. and another slap from BigDog; Which eco-system does Nazir Razak comes from.

Out of curiosity even though it would not mean much, it would be really interesting to hear what Umno Youth Leader KJ have to say about the MCA Economic Congress. He came out strongly and called the Cabinet gutless last week, wonder where he and UMNO Youth stands in the face of these demands last weekend from the MCA.

Also, interesting reading from a post by my cyber sifu: The Chinese Myth Busters.

1 comment:

Anonymous said...

Very Interesting!
Thank You!