KUALA LUMPUR: It does not matter how former prime minister Tun Dr Mahathir Mohamad tried to whitewash the way he handpicked Malay businessmen as strategic boost to the community's economic standing, pundits described it as textbook cronyism.
They argued that the move aligned with a historical pattern of cronyism – the practice of favouring close associates, often to the detriment of fair competition and merit-based opportunities.
Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan asserted that the handpicked businessmen, prospering under his patronage, possibly contributed to his personal interest, indicating a pattern of crony capitalism rather than genuine economic empowerment.
"He used this as a justification to spur the Malay influence in Malaysian economy, but again, these businessmen must be very close to him and this can be considered as cronyism because they became successful after that (handpicked by Dr Mahathir).
"No doubt this is cronyism except that it has been camouflaged as effort to spur the economy of the Malays," he told New Straits Times.
Associate Professor Dr Awang Azman Awang Pawi of Universiti Malaya said Dr. Mahathir's strategic selection of Malay businessmen to wield influence over the country's economy was seen as "surpassing acceptable norms and venturing into the realm of cronyism".
He believed such approach was questionable, as it prioritised businessmen with proximity to Dr Mahathir rather than supporting successful entrepreneurs based on merit.
He argued that economic backing should be based on independent success, not just closeness to those in power.
"When Dr. Mahathir strategically chose these Malay businessmen to influence the country's economy, I believe it goes beyond acceptable practices; undoubtedly, this will be regarded as cronyism.
"Ideally, he should have provided support to any successful party, including the successful Bumiputera entrepreneurs, not only those who are close to him but also those who have achieved economic success independently," Awang said.
He added that this perspective emphasised the importance of impartiality and meritocracy in economic decisions to ensure fair and equitable opportunities for all successful entrepreneurs within the Malay community.
Meanwhile, Dr Mazlan Ali, a political analyst from Universiti Teknologi Malaysia (UTM) Kuala Lumpur, said Dr Mahathir's economic approach during his tenure was aimed at boosting the Malay economy by cultivating Malay entreprenuers who were able to function as economic backbone for the Malay community.
Mazlan acknowledged the merits and advantages of such economic strategy, crediting the former prime minister for propelling Malaysia into economic competitiveness.
"I believe his economic strategy had its merits and advantages, and we cannot deny Tun Mahathir's contributions in advancing Malaysia to become economically competitive, earning him the title of the father of development.
"However, behind these efforts (establishing Malay tycoons to assist Malay entrepreneurs), some may perceive it as a practice of cronyism," he said.
Yesterday, during the Keluar Sekejap podcast, Dr Mahathir addressed accusations of cronyism during his tenure as prime minister.
He said the government at the time identified potential in certain young businessmen which led to such accusations.