Daim Zainuddin A Loyal Businessman, Politician

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Nov 13 (Bernama) -- Former Finance Minister Tun Daim Zainuddin was a loyal businessman and politician and was instrumental in the country's business landscape in the 1980s and 1990s, said former editor-in-chief of the Malaysian National News Agency (Bernama) Datuk Yong Soo Heong.

Yong said this especially when the government at the time embarked on the era of privatisation.

“Because of the fact that he was a businessman and a lawyer, Daim knew how to navigate the business landscape, and he was able to help the then Prime Minister, Tun Dr Mahathir Mohamad, execute many privatisation programmes.

“I suppose he was a man of few words, not into eloquent speeches, but he had all plans in place and knew a lot of people. He knew how to produce a business-friendly environment, especially in those days when the Malaysia Incorporated Policy (Malaysia Inc) was introduced in the 1980s,” Yong added.

Yong described Daim as one of the prime movers of Malaysia Inc – in which he was able to mobilise the private sector to become the backbone of the government’s aspirations and turn Malaysia into the ‘Asian Tiger’. 

Meanwhile, former Bernama deputy editor-in-chief of Economic News Service Mikhail Raj Abdullah said Daim was passionate about developing the Bumiputera’s commercial and industrial community.

Mikhail said that while Daim was serving the government under the Finance Ministry (MoF), the ministry formulated many programmes to enable Bumiputera small and medium enterprises (SMEs) as well as entrepreneurs to take up business projects, with a view to increasing Bumiputera participation in the economy and through equity participation.

Daim also undertook various measures to increase Bumiputera participation, especially through Permodalan Nasional Bhd (PNB) and the various unit trust funds.

"Unlike any other ministers, he was soft-spoken and did not seek the media limelight.

"But reporters who covered Daim back then often found it difficult to extract information from him.

"In other words, he kept everything close to his chest," Mikhail told Bernama.

Mikhail also shared that reporters who covered him had to be well prepared and back up their questions – because Daim would often shoot back the questions at the reporter, asking, 'Who said that, or who told you that?'

Daim, whose real name is Che Abdul Daim Zainuddin, served as Finance Minister from 1984 to 1991 and held the position again from 1999 to 2001.

According to a statement from his family earlier, Daim breathed his last at 8:21 am today while receiving treatment at Assunta Hospital in Petaling Jaya. He was 86.

-- BERNAMA