What is the unspoken history between Anwar and Syed Mokhtar?

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The Long-Standing Business and Political Ties Between Anwar Ibrahim and Syed Mokhtar Al-Bukhary

The unspoken history between Prime Minister Datuk Seri Anwar Ibrahim and billionaire tycoon Tan Sri Syed Mokhtar Al-Bukhary is rooted in a pivotal meeting facilitated by Anwar over two decades ago, which marked the commencement of a significant business relationship between Syed Mokhtar and the Malaysian government. This connection resurfaced publicly at an art exhibition launch, where Syed Mokhtar, a patron of the Islamic Arts Museum, acknowledged Anwar's role in setting up a meeting with then prime minister Tun Dr Mahathir Mohamad. This encounter is described as the genesis of a long-standing business association between the tycoon and the administration.
Anwar's Role in Facilitating a Key Meeting

In his address at the art exhibition, Syed Mokhtar referred to Prime Minister Anwar Ibrahim as "abang," or elder brother, and recounted how Anwar, during his tenure as deputy prime minister, had been instrumental in arranging a crucial meeting for him. This meeting, with then prime minister Tun Dr Mahathir Mohamad, is identified as the starting point of a substantial business relationship between Syed Mokhtar and the government. This historical context highlights an early instance of Anwar's influence in bridging business interests with political leadership.
Bernas Monopoly and Anwar's Criticisms

The relationship between the two figures has also been publicly defined by Anwar's long-standing criticism of Syed Mokhtar's National Rice Company (Bernas) and its monopoly on rice imports. Anwar has consistently voiced concerns about the substantial profits Bernas has allegedly accrued from its exclusive import rights, while simultaneously highlighting the persistent poverty among local paddy farmers. He has previously characterized Bernas' market dominance as a prime example of crony capitalism prevalent under previous Barisan Nasional administrations.
Bernas' Dominance and Government Concessions

Bernas, through companies controlled by Syed Mokhtar, holds approximately 92% of the local rice market, importing rice from countries such as Thailand and Myanmar. The business paper The Edge has reported that Bernas accounts for 30.6% of the domestic rice trade. In 2014, the Barisan Nasional administration acknowledged in Parliament that Syed Mokhtar's acquisition of control over Bernas had effectively granted him a monopoly on rice imports, a concession that has drawn considerable scrutiny.
Recent Interactions and Bernas' Profit Distribution

The recent public appearance together, the first since Anwar became prime minister, saw Anwar acknowledging his "stern brother" stance regarding Bernas. He revealed that he had reprimanded Syed Mokhtar about the company after the formation of the current government. While Anwar's coalition had pledged to dismantle monopolies, he stated that rescinding Bernas' 10-year import concession extension was not feasible as it could negatively impact investor confidence. Nevertheless, Anwar directed Bernas to distribute RM60 million of its net profits to paddy farmers.

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What is the unspoken history between Anwar and Syed Mokhtar?

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