PETALING JAYA: Ten months after losing power, followed by a shake-up at the top, a string of corruption charges and a freeze on its assets, Umno is slowly beginning to understand the realities of being in the opposition.
Its future is now in the hands of a leader who has never been in the national spotlight – Mohamad Hasan, a former state footballer who, until last May, was content with being in charge of one of the smaller states in Malaysia, Negeri Sembilan.
He makes no secret of his view that the party, which was credited for its role in securing independence and transforming Malaysia into an economic powerhouse, deserves to be brought down.
“I believe the defeat was a blessing in disguise.
Now, with Umno’s bank accounts sealed by the Malaysian Anti-Corruption Commission, he has to reacquaint himself with the corporate life that he gave up for politics.
The former managing director of Cycle and Carriage, the main Mercedes-Benz dealer in Malaysia, said one way for Umno to survive would be to cash in some of its many assets – including properties and companies worth billions of dollars.
“Umno is a big organisation and it needs a lot of money to maintain it. Running the headquarters has substantial costs,” he said. “Even paying salaries is difficult now.”
Party assets include the Putra World Trade Centre as well as several other properties in the heart of Kuala Lumpur.
Tok Mat entered the picture at a time when things were starting to look good again for the Malay party.
It won two by-elections, the first in Cameron Highlands, Pahang, and then in Semenyih, Selangor, in what observers say is a sign that Umno’s traditional support base, which ensured its return to power 13 times since independence, is still solid.
Last year, 900 bank accounts linked to Umno were frozen over transactions tied to the 1MDB scandal, at a time when the party was reeling from its historic defeat in the May 9 polls.
Its MPs were deserting the party and its top leaders were being investigated and some charged. Money was just one of its many problems.
Today, with some assurance of a political lifeline following its recent electoral gains, it is in need of sustenance.
Starting from scratch also means the party will need to reevaluate its whole communication policy.
In the past, it invested in big news companies, and its control over those firms continued even as traditional media began losing money and influence.
One such company is Kumpulan Utusan, whose flagship publication Utusan Malaysia has been kept alive with Umno’s money.
Last month, Umno was relieved of its 31.6% stake in the company. That means no more money will be injected to keep it going.
Exits from other media companies will follow, including from Media Prima, the country’s biggest media conglomerate which also owns private broadcaster TV3.
“We will sell our stake in Media Prima as there is nothing much we can do with it. We can’t put out our own news, and we do not have board representation.
“At least it can cover us for another two and a half years,” he said.
Umno-PAS alliance


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