This is my very first English article published on the Rocket website:
Economist Noreena Hertz warned in 2002 that states were silently being taken over by global capitalists. Her book “The silent takeover: global capitalism and the death of democracy” warned of the consequences of unbridled capitalism.
In Malaysia, Tan Sri Syed Mokhtar Al-Bukhary, the 7th richest man in the country is offering to buy over from Khazanah a 42.72% per cent stake in the national automobile manufacturer for RM1.29billion, with 85% of the purchase cost being financed by Maybank.
Who is Syed Mokhtar? For those who might not know him, he is the boss of DRB-Hicom Bhd, Malaysian Mining Corporation (MMC) and Tradewinds Malaysia Berhad. These three corporates control nearly 100 companies which affect multiple aspects of our daily life.
DRB-Hicom Bhd controls over 69 companies, which mainly focus on the automobile industry, properties and others. Apart from Proton, other automobile-related businesses under DRB-Hicom include Modenas, Isuzu Malaysia, Honda Malaysia and EON.
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