Salient. Victoria University Student Newspaper. Vol 35 no. 20. 1972
As soon as the Razak clique were installed as puppet headmen by their British masters, they lost no time in seeking to enrich themselves and to foster the growth and development of the Malay bureaucrat capitalist class of which they are the representatives. In the last decade this clique have intensified these activities and implemented their reactionary policy of fattening the new Malay bureaucrat capitalist at the expense of the working people of Malaya, especially the Malay peasants.
Many "government-financed" and "government-sponsored" organisations have been set up. Chief among these are the Mara (Council Trust For Indigenous People), Fama (Federal Agricultural Marketing Authority), FLDA (Federal Land Development Authority ), FIDA (Federal Industrial Development Authority), Pernas (National Corporation Berhad), SEDCs (State Economic Development Corporations), UDA (Urban Development Authority), National Padi and Rice Authority, Bank Bumiputera, Bank Kerjasama (The Apex Bank), Lembaga Urusan Dan Tabong Haji (Pilgrims Management and Fund Board). Agricultural Bank of Malaysia, Perbadanan Kewangan Kebangsaan, Perbadanan Perniagaan Dan Perusahaan, MIDF (Malaysian Industrial Development Finance Berhad) Perbadanan Insurance, National Investment Company, Housing Trust, Genting Highlands Sdn. Bhd., etc. These organisations cover the fields of industry, commerce, agriculture, mining, banking, shipping, transport, insurance and tourism. Public funds are channelled to the Malay bureaucrat capitalists through these organisations in the form of loans and subsidies, which in practice mostly become outright gifts.
The Majlis Amanad Ra'ayat (Mara) or the Council of Trust for Indigenous People was established in November 1965. Its activities have belied its high-sounding name; it has nothing to do with the people except to rob them of their hard-earned money to enrich the bureaucrat capitalists. The Mara provides "the important fuction of assisting, guiding and encouraging..." the Malay bureaucrat capitalists "...in participating actively in various commercial and industrial undertakings.....Since its inception the Council has gradually expanded its activities in the financing of..." Malay bureaucrat capitalists'" ...enterprises, joint ventures and direct investments in industries and expanded its training programmes and advisory services provided to..." Malay bureaucrat capitalists [See annual Report, Bank of Negara Malaysia, 1971, p. 93). The basic object of Mara is to widen the particular of the Malay bureaucrat capitalists in the commercial and industrial development. (See Annual Report, Bank of Negara Malaysia, 1968, p. 59).
By the end of 1968, Mara distributed M$50 million to Malay bureaucrat capitalists; and M$29.9 million in 1969; M$31.8 million in 1970. In 1971, the amount was M$32.1 million, (See Annual Reports, Bank of Negara Malaysia, 1968-71.)
"Over the past three years, the Council had set up factories entirely financed from its resources or in joint ventures..." with local big capitalists and foreign monopoly capitalists, expecially American and Japanese. "These factories produce a wide range of manufactured and processed products including leather, tapioca, wood and textiles. By the end of 1971, a total of M$33.5 million had been invested in its own undertakings and M$9 million in joint ventures." (See Annual Report, Bank Negara Malaysia, 1971, p. 93).
During 1970, Mara operated 12 bus companies, of which 11 were joint ventures, and increased its number of buses by 47 to 627 at the end of 1970. It is note-worthy that by the end of 1970, the number of companies transferred by Mara to Malay bureaucrat capitalists through the sale of shares, was seven. During 1971, five bus companies with a total of 673 buses were operated on a joint venture basis. And the Council transferred its ownership of one bus company to Malay bureaucrat capitalists in Kepala Batas, Province Wellesley. (Annual Reports, Bank Negara Malaysia, 1970 (p.93), 1971 (p.93).
With the rapid growth of Malay bureaucrat capitalism, a large number of bureaucrat administrative staff or lackeys are needed to operate of manage the "government-financed" or "government-sponsored" organisations and other enterprises controlled by Malay bureaucrat capital. "In addition to providing technical and financial assistance to industrial and commercial enterprises, Mara undertakes an education and training programme designed to provide training opportunities for the indigenous people to enable them to participate more actively in commerce and industry. For this purpose, scholarships are provided at Malaysian and overseas centres for business and professional studies." (Annual Report, Bank Negara Malaysia, 1967, p. 58).
Table 1 indicates that "During 1967, Mara provided 322 scholarships, 206 were tor studies at institutions in Malaysia and the remaining 116 for overseas studies." (Annual Report, Bank Negara Malaysia. 1967, p. 58). The number of scholarships provided for business and professional studies during 1968 increased by 59 to 381, of which 212 were for courses at institutions in Malaysia and the remaining 169 overseas. (1968 Annual Report, p. 59). In 1969 a total of 186 scholarships was given, of which 65 were for courses at institutions in Malaysia and the remaining 121 for overseas studies. (1969 Annual Report, p. 70) In 1970, 360 scholarships were granted, including 30 for postgraduate studies and 248 for overseas studies, about twice the number given in 1969, Mara also granted 435 loans to students in 1970. (1970 Annual Report, p. 93). In 1971, 326 scholarships and 1,169 loans for higher studies, amounting to M$ 7.3 million, were provided by Mara. In the five years of the Second Malaysia Plan, it is envisaged that 6,650 people would be given professional training. (See 1971 Annual Report, BNM, p. 94) It should be also pointed out that those students who are offered loans from Mara immediately indebted to Mara as soon as they sign the agreements. The students will need to take years to repay the debts and turn into 'modern slaves' of the bureaucrat capitalists.