'Private citizens, families shouldn't be richer than the country'

No private citizen or family should be wealthier than the country, said former minister Salleh Said Keruak.

He said this is because the individual or family could then exert undue influence on the country and its governance.

“We shouldn’t allow a situation where private citizens or families can undermine the general interests of the state or nation as well as democracy.

“But if private citizens or families are far richer than the country’s treasury, they could effectively control and influence major decisions of the government as well as its system,” he said on Facebook, without naming anyone.

On Dec 21, MACC seized Ilham Tower, a high-commercial-value building located in Kuala Lumpur.

The building is owned by the family of former finance minister Daim Zainuddin, who is also a close associate of former premier Dr Mahathir Mohamad.

Slew of probes

On Jan 9, MACC confirmed that Daim and his family are being investigated over revelations regarding his wealth in the Pandora Papers.

The leaks found that in these records alone - Daim’s children, wife, or known business associates jointly held assets worth at least £25 million (about RM141 million).

READ MORE: Another Daim-linked trust worth hundreds of millions revealed in new leak

On Jan 18, MACC questioned Mahathir’s eldest son, Mirzan, to facilitate investigations into a separate Panama Papers leak.

The commission said a notice was also issued to him under Section 36(1)(b) of the MACC Act 2009, which requires him to declare all movable and immovable assets in Malaysia and abroad within 30 days.

Mahathir decried the alleged political victimisation against him and his family, claiming that one of his children has been threatened with imprisonment.

Establishing good governance

On that note, Salleh said the administration wants to institute good governance and fair distribution of wealth to ensure the nation’s economy remains vibrant.

“This, in my opinion, is what the government wants to assure the people.

“Hence, they may require certain citizens or families with high net worth to declare their assets to ascertain how rich they are.

“These efforts can have a positive long-term effect on the people and nation,” said the former Sabah chief minister.

“And the practice of proper asset declaration and fair taxation is a positive approach and all quarters should welcome it - especially the super-rich,” he added.

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