FORMER Prasarana Malaysia Bhd CEO Datuk Ridza Abdoh Salleh warned that Malaysia is showing signs of becoming an oligarchy, with wealth and political power increasingly concentrated among a few elites who dominate policies.
In a LinkedIn post, he raised concerns over the RM8.5bil Penang Light Rail Transit (LRT) project awarded to Gamuda and SRS Consortium, which he said was made via direct negotiation, bypassing open tenders.
“The justification for the direct award was nothing short of being hilarious, interspersed with obscenity. Despite all the criticism, they were blatantly ignored. It appears that oligarchy is happening in Malaysia, too.
“The billionaires have a strong influence on the running of our country, just like in America. These mega-rich people are getting projects like they can swallow mountains.
“When capitalists are given a blank check, their exploratory capability can be unlimited. One day, they can enter your bedroom and do the unthinkable. That will be oligarchy stage 4. The president of the country will be under their thumb. Or may it already be,” he wrote.
He argued that the RM8.5bil Penang LRT project, directly awarded to Gamuda and SRS Consortium, could be evidence of favouritism, despite local contractors’ proven capabilities 30 years ago with the RM5.5bil Putra LRT.
The author criticises the lack of transparency and competitive tenders, warning that unchecked capitalist greed could lead to an oligarchic state where elites dominate, sidelining public welfare. Malaysians must decide on their country’s future to halt this trend.
“In Malaysia, we are more subtle and cleverer than Elon Musk. We don’t see the billionaires moving so freely or participating in the Cabinet meeting.
“But the influence of these billionaires in Malaysia is almost identical,” he emphasised. — May 10, 2025
Main photo credit: The Star
