Is Ku Li making his claim as the next PM?

Tengku Razaleigh has conducted himself with grace and integrity, and his resume is above reproach.

COMMENT

The Kelantan prince has returned to the limelight. After a long silence, Tengku Razaleigh Hamzah, fondly known as Ku Li, seems intent on diving into the deep end of Malaysia’s troubled political waters with his attention-grabbing speech in Parliament. In that speech, he did the unthinkable and took the ruling government to task over several issues, the most prominent being the impending implementation of the Goods and Services Tax, or GST.

A little background on Ku Li is perhaps necessary. At the time of writing, Ku Li stands as the longest serving member of Parliament in Malaysia, having served in the Dewan Rakyat since the days of Tun Abdul Razak Hussein. Educated in the Queen’s University of Belfast, Ku Li graduated as a Bachelor of Science in Economics, an educational background that proved to be instrumental in his rise as a politician years later.

While Ku Li has never been a Prime Minister or a Deputy Prime Minister, he has held several key positions that make his prowess in all things financial a force to be reckoned with. Among other things, he was made Finance Minister by Prime Minister Hussein Onn in 1976 following the passing of Razak, and soon after became the Chairman of the Asian Development Bank. He also went on to become chairman of the Islamic Development Bank in 1978, but perhaps his greatest achievement in the realm of finance came in 1977, when he became Chairman of the World Bank and the International Monetary Fund.

In matters of finance, Ku Li’s word is as authoritative as it can get.

So when Ku Li stands up in Parliament and tells Barisan Nasional that Malaysia is not ready for the implementation of the GST with our household and national debts being what they are, his colleagues in Barisan Nasional had better lend their ears. This is a man who has dedicated a significant portion of his life to grasping a fine understanding of matters financial and economic, having been handpicked by Razak to be a de facto Cabinet Minister as the founding Chairman and Chief Executive of Petronas, which supplies the bulk of the nation’s wealth.

In fact, given the prince’s penchant for being fairly quiet, this sudden outspokenness raises some interesting questions indeed. After all, the timing could not be more impeccable. Najib is besieged, trying to fend off the attacks of Mahathir Mohamad and cohorts, but even should Mahathir’s faction succeed, there is no clear successor. The nation is bracing itself for the GST and the expected inflation that follows. The ringgit is at its lowest against the dollar in six years.

There is no more serendipitous time for Ku Li to re-enter the spotlight after failing to make an impact with his Amanah NGO. If this is indeed him throwing his hat into the ring to remind Umno that there are other options than the somewhat thuggish current alternatives to Najib, then he is a welcome presence indeed.

Tengku Razaleigh has conducted himself with grace and integrity, and his resume is above reproach. With his financial background, he could be the best person to guide us through this time of economic instability.

He has also always been respected by PAS due to his heritage and track record, and has garnered non-Malay support with his measured, moderate approach to policy and politics.

In all ways, Ku Li is a gentleman and would carry himself in the tradition of our founding fathers, who also came from royalty and impressive educational backgrounds.

Is Tengku Razaleigh our savior in this time of political and economic strife? He may well be. With no clear candidate from the opposition or from the Umno camp, Ku Li represents an acceptable alternative to most Malaysians, and has proven his worth many times over at the head of many illustrious financial institutions. He will carry himself in a way we wish Najib would, and if he is allowed to lead, will begin the healing process for Malaysia, tending to our racial, social, and economic wounds.