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PAS : KE ARAH PEMERINTAHAN ISLAM YANG ADIL
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JUNE 15, 2001
On His Own
Daim Zainuddin's departure ends one of Asia's most
effective political alliances — and begins an
uncertain era for Mahathir
By ARJUNA RANAWANA
He went quietly, slipping away from Kuala Lumpur in a
small white Proton, the commonest car on Malaysia's
roads. The customary silver Mercedes of the country's
deputy chief power-broker, Daim Zainuddin, was nowhere
to be seen. There was no comment to the media. Daim's
boss, Prime Minister Mahathir Mohamad, had already
announced that his closest ally over more than two
decades had given up his ministerial portfolios. A few
days later, Mahathir confirmed that Daim also had
resigned as United Malays National Organization
treasurer and a supreme councillor. He didn't say why
— which only spurred speculation. "In a time of scarce
resources, they quarreled over whom to rescue," says
Lim Kit Siang, chairman of the opposition Democratic
Action Party. Daim lost.
PAPERING OVER THE CRACKS
THE PROBLEM UMNO is seen to support business cronies.
MAHATHIR'S RESPONSE Ease Daim out and sack a few
corrupt middle-rankers. Son Mokhzani Mahathir sells
business interests.
BUT Malaysians and foreign investors remain skeptical.
THE PROBLEM UMNO's image is that it is old-fashioned,
uncaring and out of touch.
MAHATHIR'S RESPONSE Install feminist Azalina Othman
Said in high-profile party role.
BUT Jailing of opposition activists under Internal
Security Act signals little has changed.
THE PROBLEM Courts are seen as pro-government.
MAHATHIR'S RESPONSE Appoint a new chief justice.
BUT Rebuilding judicial credibility will take time —
though one high court justice already has ruled that
two ISA arrests were illegal.
THE PROBLEM Malays are split, so UMNO must depend more
on Chinese votes.
MAHATHIR'S RESPONSE Employ two Chinese advisers.
Chinese coalition partner buys feisty Chinese press.
BUT Newspaper purchase splits Chinese community.
As risky moves go, this one is a doozy. Believed to be
Malaysia's richest citizen, Daim, 63, also is thought
to be the keeper of UMNO's skeletons. Together he and
Mahathir have ensured the party's financial and
political dominance, micro-managed the economy,
nurtured a coterie of rich Malay businessmen and
brooked no interference to their power. But now the
premier is scrambling to placate an electorate
increasingly hostile to such autocratic rule. Within
UMNO itself, the rank and file complain that the party
is indelibly tainted by money politics. Due to address
the UMNO general assembly later this month, Mahathir
needed to make a big statement. Daim's resignation,
whether voluntary or induced, counts as a deafening
shout. But will it placate the critics? The outcome is
unclear.
Mahathir had prepared the ground for sacrifice. Daim
had been on leave as finance and special projects
minister for two months; speculation about a rift in
the tandem rolled around unanswered. As outrage
mounted over government rescues of two tycoons
perceived to be Daim proteges — Kuala Lumpur bought
shares in Malaysia's national airline at twice the
market price from one and channeled public pension
funds into a largely ignored listing of the other's
internet concern — Mahathir rarely commented. The
estrangement began to look deliberate. Daim's removal
as UMNO treasurer, a post he has held for six
consecutive terms, is particularly salient. First, it
further distances Mahathir from any past
controversies. Second, it reiterates his determination
to enforce party reform. "There is now hope for more
checks and balances, and that could alleviate
corporate governance issues," says Stephen Hagger,
head of CFSB Securities in Malaysia.
Mahathir says he will take over the finance portfolio
while a replacement is considered. With long-term
economic growth plans already in place, the markets,
at least, are unlikely to experience any seismic
shift. But not so for the prime minister. Mahathir is
now virtually isolated at the top of the pile, minus a
trusted confidante in UMNO's inner circle. Twice Daim
has answered his emergency call to take up the reins
as finance minister. Both times the former teacher,
lawyer and magistrate has been credited with helping
pull Malaysia clear of crisis. Indeed, Daim is
regarded as the architect of the 1980s boom that
resulted in annual growth of 8% through most of the
decade.
He's probably relieved to bow out. A businessman above
all, Daim always has claimed to harbor no political
ambitions. No doubt Mahathir's kids will still call
him uncle, but the prime minister has chosen to
continue his journey alone. A rocky road beckons.
__________________________________________________
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