The opportunists' utopia

MAS in the hands of Tajuddin saw an unprecedented RM8 billion in the red. And the pathetic state of the national airline today has been a legacy of its mismanagement dating back to that time.

MySinchew

Malaysia is indeed a paradise for opportunists.

Tajuddin Ramli has received an early Raya gift. All the GLCs have been "advised" to strike out their legal suits against him.

In other words, MAS, Danaharta and other government-linked companies will no longer be able to seek compensation and liabilities from him through legal channels this moment on.

Everything that is on-going and pending in court will now be put to an abrupt halt.

But who is this Tajuddin?

He is an icon of bumiputra entrepreneurship during Mahathir's time. When Mahathir was in power, this Tajuddin had his enormous wealth registered all over.

From the national airline, land transport to telco (Celcom) he had a stake in everything, thanks to the bestowment of the one in control.

Under Mahathir's economic doctrine of grooming bumi entrepreneurs and creating nouveaux riches, the country's wealth was distributed among a handful of people in the likes of Tajuddin Ramli, Halim Saad and Wan Azmi.

Imagine, even a profitable national airline could be sold off to become the private asset of a handpicked individual.

During the first half of 1990s, Tajuddin was the person to watch, and his money game saga made a textbook subject in Malaysia's corporate circle.

The regional financial crisis in late 1990s nevertheless exposed all the feigned substances beneath the glorious skin.

MAS in the hands of Tajuddin saw an unprecedented RM8 billion in the red. And the pathetic state of the national airline today has been a legacy of its mismanagement dating back to that time.

Miraculously, Tajuddin tossed the loss-making airline back to the government, transferring all the liabilities and obligations to the nation and its people in so doing.

Over ten billion worth of asset vanished in Tajuddin's hands, and yet he could still bow out in grace.

After Mahatir and Daim Zainuddin stepped down, the new owners of these doomed GLCs filed applications in the court to seek compensation from Tajuddin, and that was when the MACC also stepped in to probe.

Call that a belated justice or anything, but whatever amount that could be recovered was at least some consolation.

But now, before the case even gets settled, the government has announced that it has reached an out-of-court settlement with Tajuddin.

Reason unknown. The government fell short of explaining what had actually happened.

The legal pursuit against Tajuddin attested to the fact that the rule of law was still very much in order and that no one was allowed to mess up things. To get back the money from him was to seek justice for the society, barring irresponsible individuals from shunning their obligations.

The government owes the nation an explanation even if it wants to let Tajuddin off.