Mahathir and the Toto Empire

Back in the day when Mahathir still ruled the land of Malaysia, his close buddies need not to make an appointment to see him or Daim Zainuddin. They could just barge in without knocking, no respect towards anyone, foreign dignitaries included.

Mahathir and his cronies

July 2015 Mahathir said The Edge and all his friends were now targets and he didn’t know why. Well some people did some digging and a lot of things did pop out.

M and F

Mahathir and Vincent Tan

Let’s talk about Vincent Tan and how Mahathir helped turn this millionaire into one heck of a billionaire.

Ahmad Sebi who at the time was running TV3 called in Vincent Tan to have him take over Sports Toto. Mahathir liked to call it privatization back in the day, the rest called it piratisation.

Now, this privatization was not done the proper way and not on a tender basis, absolutely no transparency. Basically done behind closed doors which benefited no one except the cronies.

M AND V

I’d hug Mahathir this tight as well if he made me a billionaire…

The entire “piratisation” was against racism which meant it was non-racial and did not look at one’s color just their pocket, meaning the New Economic Policy worked in favor of the non-Malays. I’ll give you an example where during the 1985 economic crisis, Mahathir gave the Chinese RM 3 billion and the Malays RM 500 million to bail out whoever that was facing bankruptcy.

Sports Toto, Vincent Tan & Mahathir 

In 1995, Sports Toto was sold to Vincent Tan secretly. First 70% sold for RM 28 million to B&B Enterprise of Vincent Tan, it was said to be 60% Bumiputera-owned and 10% from it was sold to Melewar Corporation, can anyone guess who owned the company? Mahathir crony and business partner of Tan Sri Loy Hean Heong of MBF none other than Tunku Tan Sri Abdullah ibni Almarhum Tuanku Abdul Rahman.

One of the most lucrative assets in Vincent Tan’s Berjaya companies is the Sports Toto. Compared to other legal gambling operations, Sport Toto’s profitability is enhanced by the lower tax rates and of course the contribution to sports development in Malaysia.

After Najib took power

Since Najib became Prime Minister other gambling operations are now charities instead of entering Mahathir and his cronies pockets and let’s not forget Najib suspended Vincent Tan’s sport betting license the one that Mahathir gave him a month right before retiring and crying on national TV, up until now the request to turn Bukit Tinggi into a casino has not been approved.

NAJIB N BET

It’s safe to say all this hating on Najib is due to Mahathir and gang are ganging up on Najib to oust him. Whatever that Najib is doing is removing all the unnecessary projects that Mahathir gave to his friends and cronies. Mahathir not only was a Prime Minister he was also a fairy who just waved his wand and made everyone who followed his way millionaires. Oh wait sorry billionaires.

DR-VT2

Sounds like the modern day Pharaoh don’t you think?

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Mahathir and the Toto Empire

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