UKEC - 9TH APRIL, 2011 - SPEECH BY TAN SRI SANUSI JUNID

UNITED KINGDOM EXECUTIVE COUNCIL (UKEC) - 9th April, 2011

Assalaamu'alaikum Warahmatullaahi Wabarakaatuh, and Good Afternoon.

This speech is a narration of a short summarised story of my journey as a student and youth leader which led me into politics, and therefore into elections.

I thank the President and members of the UKEC organising committee for inspiring me to write this message.

Any inaccuracy in names and dates, or omission of relevant facts and events, are due to the failure of my memory.

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Assalaamu'alaikum Warahmatulaahi Wabarakaatuh, and

Good afternoon to everyone present.

The President of UKEC,

Chairman of the session,

Honoured Guests,

Fellow members of the audience.

HYDE PARK SPEAKERS' CORNER

1. Whenever I am invited to speak to students, in the presence of respectable guests, at a respectable venue as this, I cannot but remember those days when Malaysian students could only listen to me speaking, while standing on a stool at Hyde Park Speaker's Corner.

TRIBUTE TO EARLIER SPEAKERS


2. Earlier today you have been exposed extensively to speakers who are experts in economics and law.


3. The head of ISIS and a prominent ex-judge.


4. I was a banker, and the Area Manager of The Chartered Bank Ipoh, Charles McGregor, to whom I was a caddy while he was playing golf in the mid 1963, told me that a banker is a person who studies economics but not enough to be an economist, who studies law but not enough to be a lawyer and who studies accountancy but not enough to be an accountant.


5. Hearing this I was not interested in his offer to be a banker, but, when he says that a banker deals with money I then became interested.


6. I hear that you are very interested in politics and I am supposed to talk on the 13th General Election.


7. I will therefore start by telling you my story, in my own unorthodox way, on what makes me eventually become an elected Member of Parliament and State Assemblyman for 30 years from 1974 to 2004.


MCKK - BADAN REVOLUSI UGAMA


8. I had my secondary school education at Malay College Kuala Kangsar.


9. There was a teacher who once taught at that school, before my time, whose name is Mr. Wilson. He wrote my books, under his pen-name Anthony Burgess. One of his books in 'Time for A Tiger'.


10. I have my reason for mentioning this book. You will know if you read about the author but not too many of his books.


11. In 1962, after the 1961 results of the Senior Cambridge Examination was announced, I asked my grand-uncle in Penang on how, as Secretary to the religious body of the college, Badan Ugama, to make the collegians to be thankful to Allah when they obtain good results during their examinations.


12. I was encouraged by my grand-uncle to read a book by HAMKA entitled 'Revolusi Ugama' or 'Religious Revolution'. I then changed the name of the MCKK religious body to be called Badan Revolusi Ugama (BRU).


13. You might not be interested in this Badan Revolusi Ugama.


14. But when you know that Dr. Azahari Husin, the chemist, who headed the Bali bombing was, during his MCKK days, an active member of BRU, and Dato' Seri Anwar Ibrahim was the successor to Ungku Hashim, who succeeded me as Secretary of BRU, then you might be interested in listening to me further. 

NO SCHOLARSHIP


15. After the Sixth Form Examination I was already attached to The Chartered Bank, Seremban.


16. I could not on get a government scholarship for a study that would allow me to be free eventually from working for the government. It was my mistake for being choosy.

17. I had later refused an offer to study mathematics at the University of Malaya. I could not imagine myself being a mathematics teacher like Mr. Cheah Tat Huat.

18. It was a blessing in disguise.

19. I was therefore not indebted to the very useful Section 153 of the Malaysian Constitution, which I support, which provide for Malay Privileges and the protection, under Sub-Section 7, of the rights for non-Malays.

20. I have been told that the topic for my speech today is the '13th General Election'. It is a speculative topic of which I will be involved only as a voter, as most of you are.

21. As a person who has been actively involved, both as a candidate and one of the organisers in many General Elections, and by-elections, for a period of 30 years from 1974 to 2004, I can only hope for the best for my party, but cannot predict the outcome of the next election.

22. As you are the future players, both as voters, organisers and candidates in future elections, as future leaders of Malaysia, I take this opportunity to bore you, with a brief story of my journey, as a student, in the UK and Europe, which led me into many elections.

23. In that way you may benefit by knowing and recognising where I have gone wrong and have been inadequate.

24. You will see the inadequacies of my preparedness.

25. It all began in 1968.


MONEYLESS STATE

26. At Hyde Park Speakers' Corner, during my first week in London, I was fascinated by the idea propagated by the Black Dwarf Club.

27. They preached for 'a money-less state' or 'a state without money' as 'money, they said, is the root of all evils'.

28. When I spoke, I forgot that I was brought to London by an institution that deals with money - i. e. The Chartered Bank. I was sponsored by them for study and training, on the job, to be a banker.

29. The training manager of The Chartered Bank, Mr. Strutter, told me later that if what I preached at Hyde Park Speakers' Corner - a state without money - is accepted by a 'sane society' I would have no place to work, as there is no money for the banking industry.

LEFT LONDON FOR HAMBURG

30. Maybe, because the bank could not stop me from being active at Hyde Park Speakers Corner, that I was sent to Germany for further studies and training.

31. I felt sad to miss the lectures of Prof. Joan Robinson, of London School of Economics.

32. She was known to be one of the best communist theoretician in the world, at that time.

33. In Hamburg University I met a capitalist Prof. Karl Schiller.

34. Before I left for Germany I was told by Mr. Strutter, the personnel manager of The Chartered Bank, before amalgamation with The Standard Bank, to be The Standard Chartered Bank, that I need a big dose, on the benefits of capitalism, to neutralise my polluted 'communist' mind.

35. Prof. Karl Schiller is known to be one of the world's top capitalist theoretician.

36. He was one of those behind the idea for the Euro.

37. He later left the university, after completing his book 'Das Geld' (The Money) to become the Minister of Economics and Finance under the West German Chancellor Helmut Schmitt.

38. He was also behind the idea of bringing the Turks as foreign workers, into Germany, instead of resorting to robots, as in Japan, to solve their labour shortage problem.

EXPOSURES TO COOPERATIVES

39. Besides Schiller's lectures I learnt something else by being in Germany:

39 (A) I learnt about the Koperativa Forbundet Consumer Cooperative of Sweden.

39 (B) The setting up of the Rochdale Society of Equitable Pioneers in Rochdale, England in 1844 and the introduction of the Rochdale Principles for cooperatives as follows:

- open and voluntary membership

- democratic member control

- member economic participation

- autonomous and independent

- education and training

- cooperatives cooperate with each other

39 (C) I learnt about the Raiffeisen's Credit Cooperative which was set up in 1862 to provide credit to the needy farmers.

39 (D) The formation of a retail deposit and loan department by the Cooperative Wholesale Society in England in 1865 which eventually transformed into The Cooperative Bank.

39 (F) When I studied the Rochdale Principles I noted that membership of cooperatives are open to all and not limited by race or religion. Somehow, there is an exception to this principle.

40. Prof. Father Moses Coady established an Extension Department in 1928 at St. Francis Xavier University of Nova Scotia and used the spirit of Christian brotherhood to encourage the formation of the Antigonish Movement for the fishermen to solve their credit requirements.

41. The Antigonish movement of Nova Scotia is known to be one of the few successful credit cooperative movements, for the fishermen, that succeeds in the world.


DAEWOO CORPORATION

42. On the banking front when I was in Germany I was in charge of the import division specialising on importation of China textiles.

43. China during Mao Tze Tong's era allowed only one foreign bank in Beijing. That is The Chartered Bank.

44. For purposes of China trade the Chartered Bank opened the only branch in mainland Europe, that is in Hamburg.

45. Most of the Chinese textiles were imported by Otto Versandt.

46. The funds from sales were not sent bank to China but lent to Chinese restaurants all over Europe.

47. On one occasion a group of 7 South Koreans arrived with about 10,000 pieces of unbranded quality ready-made shirts.

48. These shirts were sewn by about 100 seamstresses or lady tailors using 50 sewing machines near Panmungjum at the border with North Korea. It was a project under Saemul Undong self help programme launched by President Park Chung Hee.

49. The 7 South Koreans were all directors of Daewoo Corporation.

50. When I visited the company in South Korea in 1978 that is about 9 years from 1969 Daewoo Corporation was already employing about 150,000 workers in their factories.

51. The products were sold to Sears Roebuck, J. C. Penny and Woolworths in the United States.

52. I learnt from Dr. Kim Woo Chong, the founder President of Daewoo on the Korean working philosophy and when I visited him in Pusan I was given a model of a bronze turtle boat which was used by Admiral Yee Sun Shin when he defeated the Shogun Toyotomi Hideyoshi with his turtle armada.

 53. The South Korean working spirit was based on the teachings of Silla Dynasty and Admiral Yee Sun Shin, of which I will talk more later.

FRIDAY ROUND TABLE AT BAKER STREET MOSQUE

54. Coming back from Germany I joined, on every Friday, the round-table at Baker Street mosque listening to prominent Muslim speakers from everywhere.

55. It was there that I listened and asked a lot of questions to Dr. Mannan who had just written a book about Islamic Economics and Dr. Siddique, who had just completed his book on Islamic Finance. These are among the earliest books on Islamic economics and finance that I came across as a banker.

THE JEWISH HILTON HOTEL IN FRONT OF MASJIDIL HARAM

56. I still remember an incident when we invited Maulana Abul A'la Maududi to address Muslims in the UK after the bombing of the Al Aqsa mosque in Jerussalam.

57. Professor Dr. Khurshid Ahmad accompanied Maulana Maududi, as interpreter.

58. Although the organising committee had paid exorbitant deposit to the London Hilton Hotel for the intended use of their hall, Maulana Maududi refused to speak at that hotel, because it was Jewish.

59. We moved to the Commonwealth House at Kensington High Street.

60. Today, there is a Hilton Hotel in front of Masjidil Haram in Mekkah.

61. I told Prof. Dr. Khurshid Ahmad of this irony when the International Islamic University Malaysia conferred an honorary doctorate on him when I was the President of the University.

62. He noted that the world has changed.

CHANGE IS A CONSTANT

63. Obviously, time has brought about much changes.

64. Besides Allah s. w. t . the only permanent thing in life is change.

65. As I lingered from theoretical socialism and communism of Prof. Joan Robindon, to capitalism of Prof. Karl Schiller to the fundamentals of Islamic Economics and Finance of Dr. Mannan and Dr. Siddique, I realised that my real obsession has been about 'change'.

66. I wanted 'change' as I have not had a pleasant life, during childhood, being a son of an immigrant Islamic study graduate turned into a lorry driver; and later, a stepson of a taxi driver who was educated at the 'pondok' in Pokok Sena, then Semanggul, Perak.

67. I was an orphan at the age of 12.

RETURN TO MALAYSIA

68. Upon my return from Malaysia, and while working for The Chartered Bank, I was appointed by Dato' Syed Ahmad Idid and Tuan Hj. Sidek Ghouse, both alumni of Ibrahim School Sungai Petani, Kedah, to be the Secretary General of MAYC.

69. I studied at Ibrahim School Sungai Petani for 3 years from Special Malay 1 to Standard V1.

70. Within one year I took over the Presidency of MAYC and stayed on for 30 years till 2002.

A 1MALAYSIA YOUTH CLUB

71. MAYC was a multi-racial, multi religious and multifunctional youth club.

72. It was a 1Malaysia youth club.

73. Having members from all religions in Malaysia I was therefore unable to effectively be in the forefront of dakwah activities. MAYC was involved in sports, culture, camping, seminars and leadership training.

74. Besides organising lectures on subjects with Islamic perspectives we could only have the Quran reading competition as our Islamic activities.

FORMATION OF ABIM

75. The MAYC members decided that we formed a dakwah organisation called ADAM or Angkatan Dakwah Malaysia. The name was chosen as to allow its members to stay on till the end of their life.

76. After much discussion with old friends from MCKK and friends from the universities we decided to form ABIM. My house became the first registered office of Angkatan Belia Islam Malaysia (ABIM).

AT THE CHARTERED BANK

77. Despite having been a member of UMNO Bahagian Seremban, Negeri Sembilan since 1963, followed by being Head of Information for Alliance Club in London I have never paid the UMNO subscriptions since I returned from the UK, while working for The Chartered Bank.

78. While I reluctantly served the unIslamic Chartered Bank upon my return from the UK, I was encouraged to stay on when the bank allotted RM50 million for rural and Bumiputra loans under my supervision.

79. With this money I was able to lend to about 25,000 farmers, in the northern states, at a low interest rate compared to 80% per annum that they were paying to the rice dealers and millers.

80. Coincidentally, 95% of my borrowers were members of PAS, as most UMNO farmers were already getting benefits from Lembaga Pertubuhan Peladang dan Bank Pertanian Malaysia.

81. I also later allotted some of the funds for Kelantan's more than 3,000 heavily taxed trishaw pedlars, who paid a rental of RM2-00 per day to the trishaw owner for 3 or more years before a replacement is made to each trishaw. The cost of the trishaw was only RM600-00.

82. The trishaw pedlars of 'penggateh teksi' in Kelantan were also mainly members of PAS as my image as an ABIM founder was linked to the opposition.

83. I also provided loans to some 800 retailers and coconut growers in coastal Selangor.

84. I was responsible in bringing commercial banks to the rural businessmen and small farmers in Malaysia.

CHOICE BETWEEN REMAINING IN ABIM OR THE CHARTERED BANK

85. In 1973 I had to choose between continuing my work with the unIslamic bank or continue with my no. 2 post in ABIM.

86. After consultation with a few Ulama, from within my family, I decided to continue with the bank and left ABIM after amending its constitution that its leaders cannot be active in partisan politics.

87. My ulama relatives said that it is wrong to work in an institution which perpetuate the practice in 'riba' but since my intention is to release the burden of 'riba' from the farmers, the trishaw pedlars, the retailers and coconut farmers, I should carry on helping them until they are out of debts.

88. Being a leader of ABIM I could only talk against 'riba' whereas I could, as a banker, do something about it.

89. Being obsessed with Islamic banking and the sin of 'riba' I left the bank eventually after my farmers, trishaw pedlars and retailers were free of debts.

SHAMELIN CONSUMER COOPERATIVE INTO REAL ESTATE

90. While working with the bank and still heading two youth organisations, MAYC and ABIM, and being inspired by the stories of all the cooperatives when I was in Germany, I started Shamelin Consumer Cooperative.

91. After successfully opening more than 70 shops, not being able to compete with government enterprises, which later entered the same wholesale and retail business, Shamelin decided to close its retail outlets and, with the help of Hyundai Heavy Industries, whose head was the present President of South Korea, Shamelin built Taman Shamelin Perkasa - a real estate in Cheras, Kuala Lumpur.

MEMBER OF PARLIAMENT

92. In 1974 I contested in the General Election for a Barisan Nasional seat.

93. As my 'riba' rehabilitation programme was not yet completed and Shamelin still needed my service in running the retail outlet, upon intervention by the Prime Minister's department, then under the late Tun Abdul Razak, I was allowed to continue as a bank manager while becoming an MP.

MEMBER OF THE GOVERNMENT

94. This dual role, in the private sector and in Parliament, ended in 1978 when I joined the government as a Deputy Minister, after the 1978 General Election.

95. When Tun Dr. Mahathir became the Prime Minister in 1982 I became a Minister and later became a Secretary General of UMNO.


THE RESTRUCTURING AND NEW ORIENTATION OF UMNO CLUB AND THE FORMATION OF THE UNITED KINGDOM EXECUTIVE COUNCIL (UKEC)

96. It was during my time as Secretary General of UMNO that we revised the structure and orientation of the UMNO Club in London after its leadership was taken over by Dato' Bahador Shah who later became my Political Secretary.

97. From then on we started the move to form more UMNO Clubs in the United States, Egypt, Pakistan and in other nations of the world; to become the most effective defence lines, among the students, for the government policies, against misrepresentations by agents and leaders of opposition parties and Islamic oriented youth clubs.

98. A few years later together with Tun Daim we supported the formation of UKEC. The initial funding for UKEC was from the Pok Foundation or Yayasan Pok; Pok being the name of Tun Daim's mother.

99. My son was UKEC's first treasurer and the logo was designed by Miss Attikah Ummi Chadijah, my daughter, who is a graphist.

100. Someone should write a detail history of the period before the restructuring of UMNO Club under Dato' Bahador Shah covering the period before Mr. Mazlan Bador was the President succeeding Dato' Kadir Sheikh Fadzir. Before UMNO Club or Kelab UMNO there was the Alliance Club with headquarters at 43 Thornbury Road, which was also the residence of the late Encik Shawal, the founder of Satay House which still operates at Sales Place, Sussex Garden, London.


UKEC PREPARES ITS STUDENT MEMBERS TO BE AGENTS OF CHANGE

101. I am telling you all my humble experiences, my successes and failures, in order to encourage the youths and young students to prepare for an adventurous future.

102. I think, this is what UKEC, and other youth clubs, are supposed to be doing.

103. To prepare each and everyone of you, to be an agent of change.

104. This is also what 'The 13th General Election' is all about.

105. It is about change.

106. During my days, students were exposed to the concepts and theories of feudalism, capitalism, socialism and communism. We were taught to choose between a free enterprise economy and a planned economy.

GRADUATES AND PROFESSIONALS ARE THE SERVANTS


107. For those who were going to be doctors, lawyers, dentists, accountants, actuaries, architects, surveyors, economists, bankers and etc. they are supposed to serve within the free or planned economic systems. They will be the servants within the two systems.

VOTERS ARE THE MASTERS

108. We are only masters, as voters, who choose the government in elections.
 
109. As voters, the people of Malaysia have hailed the leadership of Barisan Nasional in the 11th General Election in 2004, with a convincing victory.

110. Those who supported the Barisan National in the 10th General Election  in the year 2000 have continued to support the BN in 2004.

111. Even those who did not support Barisan Nasional in the year 2000, or did not come out to vote at that time, did come out in 2004 to support the Barisan Nasional, resulting in that convincing victory.

112. The voters at that time had great hopes after a leadership change.

113. However, after the victory of 2004, day by day, the Barisan Nasional planned for its own  disastrous performance in 2008.


OPPONENTS OF THE GOVERNMENT IN THE UK BECAME THE GOVERNMENT AT HOME

114. Those students who opposed the UKEC for supporting the policies of Tun Dr. Mahathir and the New Economic Policy, when they were in the United Kingdom, hijacked the leadership of the government, and being strategically positioned, reversed and contradicted the more popular policies of Tun Dr. Mahathir.

115. With nepotism and corruption the party's leadership cronies, who tried to generate fear in the party's subordinates, as recommended by Machiavelli, have overplayed their cards, and turned that fear into hatred, thereby causing the Tsunamic performance of Barisan Nasional in the 12th General Election of 2008.


PAKATAN RAKYAT RULES IN 4 STATES

 

116. For the first time, in history, the opposition to Barisan Nasional, while retaining the sate of Kelantan, took over Kedah, Penang, Selangor, dominated the Federal Territory of Kuala Lumpur and for a while ruled Perak.


DIFFERENT PERCEPTIONS ON THE 2008 PERFORMANCE

117. To Pakatan Rakyat the people wants a change for their type of philosophy and government.

118. To Barisan Nasional it was a self-inflicted defeat.

119. Members of UMNO were fed-up with corruption, nepotism and mismanagement of priorities.

120. Leaders of UMNO themselves, through the people, wanted to remind the government that they, and the people, matters.

121. Unfortunately the previous Prime Minister misread the message.


THE PRIME MINISTER UNDERSTOOD THE RIGHT MESSAGE

122. Luckily the present Prime Minister Dato' Seri Najib Tun Razak read the message well.

123. Thus the slogan 'Rakyat didahulukan, pencapaian diutamakan'.

124. This slogan is followed up by an elaborate programmes of action.

125. The Barisan Nasional is working hard to recover its old glory.


PAKATAN RAKYAT'S PATHETIC PERFORMANCE

126. On the other hand Pakatan Rakyat is struggling with its inexperience in handling a state government and multiracial politics. There is peace in Kedah and Kelantan where the majority of State Assemblymen and the population are Malays.

127. In a more multiracial states of Penang and Selangor there are conflicts among the elected representatives, and with the civil service.

128. In Perak Pakatan Rakyat lost control of the state.

129. There was no evidence of a change in governing philosophy or methodology.

130. If you check from Pet, the nick-name for Raja Petra, who is Malaysia Today, he will tell you that he is disappointed with the Pakatan Rakyat.

131. Although it has ruled in 4 states there is nothing promising that can be seen in their management or government.

132. Even the Liberal Democratic Party of Britain, which is a junior partner in the present British coalition government, is doing better than the Pakatan Rakyat despite not running any government on its own. So said Pet.

STUDENTS AS FUTURE AGENTS OF CHANGE

133. As voters, students have a role to play.

134. But more important is not just the current role as voters, but to be a future agent of change.


THINGS YOU DO BUT DID NOT LEARN IN SCHOOLS AND UNIVERSITIES

135. As I have read somewhere more than 80% of what we learn in schools and universities are not relevant in real life.

136. A first class degree from any university is not a guarantee of success in leadership. It is an illusion to think so in politics.

137. Some students hope to become great because they pass through a great university, but those students do not necessarily make the university great.

138. Just as you have sinners coming out of Islamic, Christians and Jewish institutions. They do not represent the religion.

139 i - you did not learn, in schools or universities, on how to rent or buy and pay for a house, a  television set and a car;

139 ii - It is what you will be doing, quite early, in real life.

139 iii - you did not learn how to get a job unless we are on scholarships and your sponsors provide the  employment;

139 iv - It is what you need. A job.

139 v -  you did not learn, in school or universities, on how to get married and raise a family;

139 vi - It is what you will be doing, quite hurriedly, and quite a number have ended up badly.

139 vii - you did not learn how to run proper meetings or follow up on decisions in your institutions and organisations;

139 iix - It is done on the job.

139 ix - you did not learn, in schools and universities, on etiquette and manners and how to behave towards your bosses, your colleagues and your in-laws;

139 x - It is one of the hazards in real life.

139 xi - you did not learn, in schools or universities, on how to get into non-government organisations or political parties and get elected into their committees;

139 xii - It is quite different from getting involved in UKEC.

139 xiii - So many other things that you do in life that you were not taught in schools or universities.


YOU DID NOT LEARN TO BE CORRUPT

140. Of course you did not learn, during your study period, on how to be corrupt, and that is why you are eventually caught when you do it in real life.

141. I also noted that with better education we have more sophisticated methods of corruption.


COMMITMENT TO CHANGE

142. Despite all these short-comings you are still restless and would like to bring about changes into society when you are also needing guidance in your own process of undergoing change.

143. If you are blessed by being born into the aristocracy, into a rich family with or without business, into a family of high-ranking civil servants or if your family members are still holding positions in political parties you should cherish that.

144. Your family might be able to assist you in your attempt at getting into positions of influence.

145. You should exploit these blessings by bringing about positive changes to society.

146. But if you do not have all these advantages than you must do well in your job, or profession, and start building a network of relationships, that can be of help to you in advancing your ambition.

147. Your network should provide you the strength for your advancement in political, economic and social activities.

148. You need to go into business, join sports and recreation clubs and also be members and leaders of NGOs and youth clubs in order that you can be of use to society.

149. If you feel that there is no shortage of volunteers for economics or political activities you are greatly wrong.

150. You are needed there.


OPPORTUNITIES BEFORE YOU

151. Everyday you read and hear of crimes committed, scandals and corruption in our administration and among prominent people in our society.

152. Some corrupt leaders, of the world, stay on for 30 years, 32 years and 40 over years, being surrounded by a network of well fed, well-paid and well compensated supporters, protectors and attorneys to perpetuate their wrongs.

153. We are lucky in Malaysia they do not stay that long - though some stay on.

154. Maybe the corrupt leaders of old stayed very long because the new medium of communication is quite recent.

155. The days of Hyde Speakers' Corner is over.

156. The days of slanderous anonymous letters are unnecessary.

157. The world is changing and quality leaders, big and small, at different levels of societies, everywhere, are in great demand.

158. If you ask me what sort of leaders do we need for the future of Malaysia I would say knowledgeable leaders with moral value.

159. The emphasis is on moral values.


KNOWLEDGE AND VALUES

160. It is unfortunate that most people pay attention only to knowledge, methodology and motivation in order to achieve success. They think that a PhD in any field of study or a fellowship in a professional institute is all that is needed.

161. I am sure that you are aware of the collapse of giant banks, large corporations and even accounting firms which are supposed to provide accounting services to firms in order that the statements of accounts, and the balance sheets, can serve as guides for the corporation to grow.


EXAMPLE OF INADEQUACY OF INTEGRITY FOR FUTURE PROGRESS

162. Only 9 over years ago on 2nd December, 2001 Enron, the fourth largest company in the United States of America filed for bankruptcy.

163. This company had about 21,000 workers. Except for the few clerks, drivers and office messengers almost all the company's employees were graduates and professionals.

164. Only two weeks before that, in November, 2001, the company, honoured Michael Gorbachev, Colin Powell, Nelson Mandela and Alan Greenspan with Enron Prize for Distinguished Public Service.

165. In the year 2000 about 140 top executives of Enron earned about US$5.3 million each.

166. When Jeffry K. Skilling, who became the Chief Operating Officer of Enron from 1997, announced his resignation on 14th August, 2001, the price of Enron shares fell from the expected US$100-00 to US$40-00.

167. On 16th October, 2001 Enron reported US$618-00 million third quarter loss and a US$1.2 billion reduction in shareholder equity.

168. On 8th November, 2001 the company was obliged to revise it's profits for the preceding 5 years; the overstatement was revealed to be US$567 million.

169. From US$40-00 per share on 14th August, 2001 by the end of December, 2001 the shares were worth 30 cents each.

170. When Enron filed for bankruptcy on 2nd December, 2001 it was revealed that the audited balance sheets had understated the company's long term debt by US$25 billion; instead of US$13 billion it was in fact US$38 billion.

171. Enron's auditors had all this while been Arthur Anderson, a firm of Chartered Accountants. This firm was deservingly destroyed by the financial scandal.

172. Unfortunately, even the policemen are found stealing.

173. It proves here that famous, respectable and knowledgeable professionals are no guarantee for our country's progress and success.


LOOKING EAST

174. Malaysia had at one time had both the 'Vision 2020' and the 'Look East' policy.

175. By looking east we looked at the developments in Japan, South Korea and Taiwan.

176. Vision 2020 is of course not limited to just doing things in order that we can reach a developed nation status by the year 2020, but more so in having the ability to plan correctly for the future with a clear vision or a vision which is not blurred when the reading of our eyes are both 20 and 20 and therefore we do not need the spectacles.

177. Japan, South Korea and Taiwan are developed not just by their technocrats and managers by just having the necessary knowledge but by upholding the Bushido, Hwarang and Jinsheng values of their cadres in business and the government.

178. These three values demand trustworthiness, courage, discipline, diligence and loyalty from the leaders and its people.

(I have discussed at length on these values elsewhere within the blog sanusijunid.blogspot.com)


CONCLUSION

179. Let us hope that the UKEC, and other student bodies, will play a role in inculcating all the required values in the future leaders, in the political, economic and social fields, to accompany all the knowledge and experiences which are required, in the preparation to lead a better Malaysia.

180. May all the faults and shortcomings that I have narrated be the barriers that you should avoid, in order to save a lot of wasted time.

181. Such was the inadequacies of my preparedness.

182. Thank you.