Khairy's PUNB appointment report refreshes speculation about his political fate

Unconfirmed news that Umno Youth chief Khairy Jamaluddin will be appointed as the new chairman of investment agency Perbadanan Usahawan Nasional Bhd or PUNB has created a stir, prompting renewed speculation about the political fate of the once-high-flying son-in-law of former premier Abdullah Badawi.

Quoting sources, the Business Times reported on Tuesday that Khairy will begin his tenure at PUNB soon. It also said that Khairy would be replacing Mohd Abu Bakar Mohd BNoor, who has been PUNB chief since 1998.

PUNB is an entity entrusted to develop Bumiputera entrepreneurs in strategic and high potential businesses, and the news - while unconfirmed - appears credible coming hot on the heels of praise from Prime Minister Najib Razak for the Youth wing's efforts in improving the business environment in the nation.

"PEMUDAH's members, have over the past five years, been unrelenting in their efforts to improve the business environment in Malaysia. Let me assure all of you, none of your contributions, no matter how small, has gone unnoticed," Najib said at the launch of the PEMUDAH Annual Report 2011 on Monday.

Still unforgiven after all these years

If true, then Khairy - who is also the Rembau MP and the only Umno Youth chief so far not to have been given any Cabinet post - may be looking at another session in the political wilderness even if he successfully defends the Umno Youth chief post at party elections due later this year.

"It looks like Najib is giving Khairy the Isa Samad reward. A high post in a cushy government agency, where he can travel and have access to big government deals, but no Cabinet post. I don't know if Khairy will be satisfied with it. This is probably a feeler Najib is sending to him and the rest of the party," an Umno watcher told Malaysia Chronicle.

He was referring to Isa Samad, the former Negeri Sembilan chief minister who won the Bagan Pinang seat in 2009 but did not get any government post other than being made the chairman of land resettlement scheme Felda.

But the 63-year-old Isa - while ambitious like Khairy - knows his glory days may be behind him, while the 34-year-old Khairy - an Oxford graduate - may not be willing to give up the political center stage just yet.

Sad to sad, his arrogance during the days of the Badawi administration when he was known as the de-facto prime minister, calling most of the shots on behalf of his father-in-law, has left too strong an imprint on other influential Umno leaders such as Mahathir Mohamad, the prime minister who preceded Badawi.

May not even make Najib's 'winnable' list

Mahathir too is keen to have his son - the 46-year-old Mukhriz - move into one of the 3 vice president slots in Umno and would not welcome any additional competition from Khairy.

There is talk that Khairy may not even get selected as the Umno candidate to defend the Rembau seat, where apart from Umno infighting, he also faces hot competition from a very popular Chegubard or Badrul Hisham Shahrin, a PKR youth leader.

Khairy himself has alluded to the political uncertainty he faces, when he tweeted months ago that it was time to consider a long vacation with his family.

"What is certain is that Dr M has not forgiven Khairy for all the slights and snubs. He will carry it to his grave. Khairy can forget about becoming anybody with any real power in Umno so long as Mahathir and his cohorts are around. By giving the PUNB post to Khairy, Najib is also signalling to the Mahathir camp that he will support them on this issue although they will continue to fight on the others," the Umno watcher said.

Established in July 1991 under the Malaysian Companies Act 1965, PUNB’s business operations are focussed on providing integrated entrepreneur development packages to assist Bumiputera entrepreneurs in retail andsmall and medium enterprise (SME) sectors.

It provides a range of loans for prospective Bumiputera businessmen under various schemes such as Pemborong Prosper, Prosper Runcit and Prosper Siswazah and also networking platforms for its borrowers. These development packages are designed to help Bumiputera entrepreneurs develop business acumen, maintain a profitable venture and shape their enterprise, par excellence.

There have been many rumours of Khairy being appointed to various government-linked companies in the past, but nothing ever materialized.

Malaysia Chronicle