This is not the first time Mahathir has made such statements, as he has been engaging in attention-grabbing behaviour since his retirement during the Sheraton Move. The reason for this behaviour is quite apparent, as Mahathir has been embroiled in a bitter feud with Anwar Ibrahim over the latter's accusations that Mahathir owns assets worth billions of ringgit.
Mahathir, in return, filed an RM150 million lawsuit over claims that he amassed wealth for personal riches while in power. He also stated that all his children succeeded in the business world without his intervention or any abuse of power by him as a then-prime minister.
We can afford to give Mahathir respect for helping the country industralize, but that respect does not extend towards wholeheartedly believing his justifications towards the wealth of his family.
Anwar has recently accused Mahathir of owning planes, ships, and companies worth billions of ringgit but not using these resources to help the Malays in the nation. Mahathir, in turn, has defended his children's wealth, claiming that it is due to their hard work and has nothing to do with his time as Prime Minister.
Yet it is hard to not believe the rumors that the collective wealth of his family can put the GDP of several countries to shame – take a look at the lavish lifestyles of Mokhzani or Mirzan or even the lives of their children.
Taking a look at his time in office, perhaps we can forgive Mahathir for enriching his family, calling this an extension of his konsep “payung policy” – which obstensibly comprised of a cadre of 100 super-rich bumis, who were supposed to help rural Malays into prosperity under a konsep payung or umbrella concept routed through the United Malays National Organization.
However, this has yet to happen, and the benefits of these schemes have evaded mainly the average Malaysian. Only companies linked to favoured individuals have benefited, and they often received bailouts and "preferred financing" when they failed. The compromised institutional design and regulatory enforcement of the Mahathir era have contributed to the sordid state of Malaysia's infrastructure.
Even his much-vaunted priority for Malays was proven false, as he was no stranger to providing benefits to those who saw as valuable, regardless of their race, as seen in the example of Sir Francis Yeoh and Ananda Krishnan.
Yeoh’s company YTL Power International Bhd would become Malaysia’s first independent power producer after winning the concession in 1993 while Ananda Krishnan would go on to build a multimedia powerhouse, including the likes of Astro Malaysia Holdings Bhd, which was granted an exclusive licence to be the country’s sole pay-television provider until 2017.
The result? Out of the billions generated by the country from the time that Mahathir first became Prime Minister, the chief beneficiary remains those who are close to him.
At this point, Mahathir's continued involvement in politics has become a source of frustration for many Malaysians, who see him as someone who is out of his depth and out of his time.
The country will face greater problems than the ramblings of the elder statesman, and we do not have time to pay attention to him - if Mahathir insists on ruining his own legacy due to his recent actions, let Anwar unveil Mahathir as a simple crony rather a great warrior.
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