THE Centre to Combat Corruption and Cronyism (C4 Centre) remains concerned over the IOI Properties Group Bhd’s (IOIPGB) major business interests in the surrounding Puchong constituency even as its aspirant MP Yeo Bee Yin who is the spouse of the company’s head honcho has clarified her position on the matter.
The former DAP MP of Bakri will be contesting in Puchong in the forthcoming 15th General Election (GE15) in place of its incumbent Gobind Singh Deo who has moved to Damansara after its incumbent MP Tony Pua has decided to sit out of the national poll.
“Yeo however brought to our attention that IOIPGB’s business interests were in the Puchong constituency until the re-delineation exercise in 2018. Since then, these areas were situated in adjoining parliamentary constituencies,” the graft watchdog pointed out in a second media statement.
“However, we remain perturbed by the fact that although IOIPGB’s vast business interests may be cut out from the Puchong constituency, this company has had a major presence in neighbouring constituencies and in other parts of Klang Valley.”
The statement added: “C4 also stresses that our core concern in our (first) press statement remains, specifically that of the disconcertingly close nexus between politics and business in Malaysia.”
Yesterday (Nov 6), the C4 Centre raised red flags on the status of Yeo who is known to be the wife of IOIPGB CEO Lee Yeow Seng who is the son of IOI Group Bhd’s founder, the late Tan Sri Lee Shin Cheng.
Notwithstanding the propriety of an active politician being married to a powerful businessman and the telling ways in which the business-political nexus manifests, the C4 Centre said it is wary that Yeo’s nomination for a constituency in an area where her in-laws possess vast business interests smacks of potential conflict of interest concerns.
The C4 Centre further noted that the IOI Group has its hands in massive land areas across the Puchong constituency as its main investment properties. They include the likes of Puchong Financial Corporate Centre; IOI Boulevard Puchong; Sheraton Puchong; Palm Garden Hotel; Palm Garden Golf Club; and the IOI Palm Villa Golf and Country Resort (within Klang Valley) and, elsewhere, IOI Malls (Puchong and Johor Baru).
“Its portfolios also include the IOI City Mall, Le Méridien and Marriott Hotel as well as One and Two IOI Square in Putrajaya,” contended the C4 Centre.
No malice intended
While it meant no malice or harm to Yeo, the C4 Centre said it would like to invite Yeo to offer a response to these matters of public interest and engage in open conversations pertaining to her relationship with IOI Group.
“Ultimately, political parties must remain vigilant in ensuring that the circumstances giving rise to the expansion of the business-political nexus are limited as much as possible, especially if those parties are campaigning on an anti-corruption and reformist agenda,” it justified.
In its recent report, “Business in Politics”, the C4 Centre said it has highlighted the following concerns when election candidates with strong business ties enter public office:
- How will politicians with business links vote in Parliament on matters that do not serve the interests of companies linked to them?
- How will politicians with business links shape budget debates if companies associated with them are unfavorably affected by government programs?
- How will politicians with business links vote on environmental-related policies, including those related to property development?
- How will politicians with business links discuss social benefits for employees and an appropriate minimum wage? – Nov 7, 2022
