The NEP, a product of the post-May 13 racial riots in 1969, was formulated to eradicate poverty and restructure society. No doubt, the NEP has produced many Malay tycoons, but in the 1970s and 1980s, many non-Malay tycoons had also emerged. The big names include Tan Sri Azman Hashim of Ambank, Tan Sri Syed Mokhtar Al-Bukhary, Ananda Krishnan, Tan Sri Vincent Tan, Tan Sri Francis Yeoh, Tan Sri Jeffrey Cheah, and then there are newer ones like Tan Sri Tony Fernandes, Tan Sri Lim Kang Hoo, Tan Sri G. Gnanalingam, Tan Sri David Kong and Tan Sri Lim Wee Chai. “Even if Malay capitalists are created but Malay poverty persists, the problem of national unity will remain. For in such a situation, the question of Malay poverty can still be exploited to bring about ethnic conflict,” he added.

Source: The Star November 13, 2021 23:19 UTC