Tycoon Syed Mokhtar refers to PM as his 'elder brother' reminisces on old times

KUALA LUMPUR: It's always been a rare occurrence for billionaire Tan Sri Syed Mokhtar Al Bukhary to make a public appearance but he made an effort to do so he could deliver a speech to thank Prime Minister Datuk Seri Anwar Ibrahim for attending an art exhibition event at the Islamic Arts Museum.

This is the first time the two influential figures have appeared in public since Anwar became the Prime Minister and formed the unity government. It was reported in December that Anwar had chastised Syed Mokhtar in private about Bernas after the new government had been formed.

In his speech Syed Mokhtar, who is also the gallery's patron, fondly addressed Anwar as “abang” which in the Malay language translates as “elder brother”.

Anwar appeared unaffected by the term of endearment, as the tycoon, an icon for many businessmen shared how Anwar, who was the deputy prime minister at the time, had helped him to meet with then Prime Minister, Tun Dr Mahathir Mohamad.

When it was Anwar's turn to speak, he joked about being a “stern brother,” who was always putting Syed Mokhtar in a tough spot.

He talked about how he continued to criticise the National Rice Company (Bernas), helmed by Syed Mokhtar.

“He’s very kind to be calling me abang but I’ve been very tough with him in regards to Bernas, which has a major contract (to import rice) because of privatisation.

“And I’m very concerned, or disturbed not necessarily against Bernas but at the state of poverty of our paddy farmers,” Anwar said in his speech.

According to the billionaire, today was the first time he made his ties with Anwar known.

“I’m sorry if you guys are bored but I think it’s important that I tell this untold story,” Syed Mokhtar joked, referring to the recently released biopic Anwar: The Untold Story based on Anwar’s life when he became Finance Minister from 1991 until he was asked from the Cabinet in 1998, sparking the political uprising known as Reformasi.

During his time as the Opposition Leader, Anwar often cited Bernas’ domination of the rice market as emblematic of the abuse and crony capitalism that flourished under Barisan Nasional rule.

Anwar alleged that the company had raked in billions of ringgit in profits because previous administrations favoured Syed Mokhtar and gave Bernas the sole right to import equipment and other crucial raw materials to grow the crop, while most paddy farmers remained poor.

Syed Mokhtar holds close to 92 per cent of Bernas through four of his companies.

It was reported in The Edge, a business paper, that Bernas accounts for 30.6 per cent of the local rice market in which it imports rice from countries such as Thailand and Myanmar to meet local demand.