The Malaysian Insider

Malaysia

Pahang MB: Rent-seeking OK if everyone benefits

May 28, 2011

GENTING HIGHLANDS, May 28 – The  practice of rent-seeking using “Alibaba” companies is acceptable as long as all races benefited from it, Datuk Seri Adnan Yaakob has said.

“Alibaba pun Alibabalah (Its ok for Alibaba) as long as everybody benefits,” he said today.

The Pahang Mentri Besar was trying to drive the point home that the Chinese were more business efficient while Malays were not.

“Malays are not interested in economics, but money,” he said, explaining that in the cases of Alibaba companies, Malays often brought in Chinese business partners as they had better experience in handling money.

“Saya bagi awak sikit, saya ambil banyak (I give you a little, I take a lot),” said Adnan in jest when describing how “profits” in rent-seeking cases were distributed between Malays and Chinese.