Anwar: Rice firm Bernas de-listed for a crony

The de-listing of national rice company Bernas has been described by one-time finance minister Anwar Ibrahim, now the Opposition Leader, as "betrayal" of a pledge he had made in 1995.

He was referring to his pledge when in government that Bernas would not serve the interests of cronies but only protect the interests of needy farmers and fishermen.

Anwar said he had announced then that 45 percent of the Bernas shares would remain in the hands of various organisations representing farmers, fishermen and staff of the agency.

At a press conference in the Parliament lobby today, he said more that 80 percent of the Bernas shares now belong to various companies owned by government-linked business tycoon Syed Mokhtar al Bukhary.

This has taken place over the years through a series of shares being purchased by companies owned by Syed Mokhtar, with the help of investment aid from government-linked banks such as Maybank.

The de-listing of Bernas, which took place on Nov 6, only serves to feed the "greed" of the company's "masters", Anwar said.

The Bernas share price has been on the rise and did not warrant a de-listing, unlike mobile phone giant Blackberry, which recently had to de-list in order to avoid bankruptcy in view of plummeting share values, he explained.

"This is a betrayal of my announcement about Bernas when I was the finance minister," he said.

Anwar said he had taken a major risk by announcing the 45 percent allocation of shares to organisations related to farmers and fishermen.

What has happened with Bernas over the years is proof that those who "claim to defend Malay rights", are actually "betraying bumiputra farmers", he said.

The number of Bernas shares held by the public has fallen to 16.31 percent, which Anwar attributed to the "systematic takeover of shares from Syed Mokhtar(right)".

Anwar said Bernas, at this point in time, would be a smart acquisition for any tycoon because its Approved Permit to import rice has been extended till 2021.

"These actions benefit only one individual and that is Syed Mokhtar," he claimed.