Anwar puts spotlight on Syed Mokhtar’s rice monopoly

 

Bernas is controlled by billionaire tycoon Syed Mokhtar Albukhary and has the monopoly over rice imports and supplies.  (Bernama pic)

PETALING JAYA: Prime Minister Anwar Ibrahim has put the spotlight on the rice monopoly enjoyed by Bernas Bhd, controlled by billionaire tycoon Syed Mokhtar Albukhary.

At a press conference this afternoon, Anwar said he had spoken to Syed Mokhtar “and he had been reprimanded because he monopolises rice imports”.

Anwar said Syed Mokhtar had agreed to allocate funds for poor local farmers. “I urged him to do something immediately. He will allocate RM10 million to the farmers this month, and RM50 million by Bernas next year,” Anwar said.

“To be fair, the approved permit for import is not a concession and was not awarded to him but to Bernas (Padiberas Nasional Bhd), which was then owned by Tan Sri Tan Boon Seng and (Datuk Seri) Shahidan Kassim,” he said, Bernama reported.

Anwar said Syed Mokhtar had bought 31% of the company’s shares from Tan for about RM800 million and Shahidan’s stakes at RM400 million.

The prime minister said his government would not allow political figures to easily gain wealth and “suck the blood” of poor rice farmers, Bernama reported.

On the government’s policies, Anwar said all the good policies of the previous government will continue, including the transparent contract system.

“Good policies, transparent contacts, we will have no problem with that. This is not a new government, this is a government that continues the system, but we are firm in making changes, and tenders or projects which do not follow procedures, we should re-examine,” he said.

Bernas is reported to control 30.6% of the local rice market and also imports rice from Thailand and Myanmar to meet local demand. The company is 92% controlled by Syed Mokhtar through four private companies.

The company was originally the National Padi and Rice Board which was corporatised and privatised in the 1990s. - FMT