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Mahathir's eldest son want to stay in business.

KUALA LUMPUR, June 26 Kyodo

Malaysian Prime Minister Mahathir Mohamad's eldest son Mirzan said Tuesday he won't quit the corporate scene like his younger brother Mokhzani.

''I am a businessman. What am I going to do? Logistik is work,'' the official news agency Bernama quoted Mirzan as saying.

Mirzan is the executive chairman of Konsortium Logistik Bhd., a shipping and logistic company.

On April 26, Mokhzani stunned the corporate world when he sold off his 29% stake in Tongkah Holdings Bhd., a precision tools maker, and resigned as Tongkah's executive chairman.

He also sold off his 66% stake in Pantai Holdings Bhd., a healthcare company, and quit as Pantai's chief executive officer, saying that he was disappointed over allegations made by groups linking Mokhzani and his father to government projects, tarnishing their names.

Mokhzani later relinquished his position as treasurer of the youth wing of the ruling United Malay National Organization (UMNO), of which Mahathir is president.

Allegations of crony capitalism have plagued the government since the 1997 regional financial crisis, which saw the country face its worst recession in decades.

Criticism grew to a feverish pitch following Mahathir's sacking and jailing of popular former Deputy Prime Minister Anwar Ibrahim.

After he was sacked in September 1998, Anwar had accused Mahathir of using his influence to enrich his family members.

One deal criticized involved the state-owned oil company Petronas Bhd. and the country's largest shipping company, MISC Bhd. buying assets from Mirzan's shipping company.

The opposition condemned the deal as a bailout. But the government denied it, insisting that it was purely business.
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Publication:Asian Political News
Date:Jul 2, 2001
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