EVERYBODY knows that Tan Sri Syed Mokhtar Al-Bukhary is one of Malaysia's richest men and a corporate tycoon.
The media shy businessman controls several top listed and non-listed firms under his stable of companies which includes DRB-HICOM, MMC Corp, Port of Tanjung Pelepas and several properties.
The reclusive business titan also controls Tradewinds, Malakoff, a sugar refinery and other private entities and the Al-Bulkhary Foundation to help the needy and the unfortunate.
But yet, the Kedah-born Syed Mokhtar remains an enigma among investors and the rakyat.
So, whenever the philanthropist makes a corporate move, analysts are left bewildered to interpret his every move.
No one really knows what he is up to except for his inner circle of chief executive officers.
![albukhary](/sites/default/files/inline-images/ya_10.jpeg)
Is Syed Mokhtar taking DRB-HICOM private?
Bloomberg reported last week that Syed Mokhtar is mulling on strengthening his stake in conglomerate DRB-HICOM Berhad.
The foreign newswire reported that Syed Mokhtar is looking at increasing his stake in the diversified group from the current 54 percent.
No one really knows why Syed Mokhtar is mulling on such a move but it could be a measure to "protect" his interests from external parties meddling into his stable of companies.
Last week, Prime Minister Datuk Seri Anwar Ibrahim had said that Padiberas Nasional or Bernas which is also controlled by Syed Mokhtar should liberalise the paddy distribution sector and that it should not be monopolized by one entity.
![Tan Sri Syed Mokhtar Al-Bukhary](/sites/default/files/inline-images/BERNAS.png)
Anwar said the move is to protect farmers' rights and make the sector more competitive.
Anwar however denied he was out to destroy Syed Mokhtar's businesses.
"Nobody can really be sure if Syed Mokhtar is reacting to Anwar's statement but it is surely pointing towards that direction.
"Perhaps Syed Mokhtar is jittery over Anwar's statement and he is making his move to hold his companies closer to his heart," stock market trader Wan Mohd Nazri Ismail told Dagangnews.
DRB-HICOM shares rose 10 percent last week to over RM4 possibly reacting to the news.
Not all sectors should be liberalised
In Malaysia, not all sectors should be liberalised in the name of globalisation and a level playing field.
In the case of Syed Mokhtar's business empire, some of his business operations are of strategic importance to the country.
Bernas for example is the guardian of the country's rice supply which as it is stands at 60 percent self-sufficiency.
Any moves to restructure Bernas could disrupt rice supplies.
![pos malaysia](/sites/default/files/inline-images/pejabat%20pos%20besar.jpg)
Pos Malaysia meanwhile, while a laggard compared to other logistics company, is of strategic importance to the government and the country.
Without Pos Malaysia, the rakyat especially in rural areas would be deprived of their letters and packages.
The rural folks depend on Pos Malaysia regardless if the company is bleeding financially or not and they might not be able to afford to send packages if the company is revamped.
But of course, Syed Mokhtar is taking steps to prevent his companies from running at a loss while balancing social obligation to the rakyat.
Some of Syed Mokhtar's business entities have socio-economic importance to the nation and to liberalise them in the name of profitability may affect the low-income group.
Syed Mokhtar no stranger to corporate manoeuvres
Syed Mokhtar is also known to be an astute tactician ever since he started trading cattle as a teenager.
Thus taking over DRB-HICOM is a possibility and perhaps it will be taken private altogether.
DRB-HICOM however said in a statement last week that so far it has not received any notifications from the close friend of Tun Mahathir Mohamad.
![MMC Corp](/sites/default/files/inline-images/mmc%20corp.jpg)
In 2021, Syed Mokhtar had privatised port operator MMC Corp Bhd to give the company's management more flexibility to beef up the infrastructure group.
Syed Mokhtar had also orchestrated DRB-HICOM's 49.9 percent stake sale in Proton Holdings Berhad to China's Geely to make the brand more prominent.
What's next for Syed Mokhtar?
The conglomerate has always been under the radar and it will be even tough next year as the world descends into recession next year.
As for Syed Mokhtar and his group of companies, they can only hold on and bite the bullet riding the hard times.
But opportunities abound and the tycoon must be ever ready to pounce on any business ventures. – DagangNews.com