Tan Sri Dr James Jemut Masing
KUCHING: The federal Ministry of Finance’s Tabung Harapan Malaysia (THM) has been labelled as “nothing more than just a political gimmick” by Deputy Chief Minister Tan Sri Dr James Jemut Masing.
Masing, who is Parti Rakyat Sarawak (PRS) president, said the fund “tries to mimic what Koreans and Japanese did” during the financial crisis in the 80s and 90s.
According to him, during that time South Korean and Japanese businessmen sold off their overseas properties and returned home to help their countries cushion the economic crisis.
He said if Malaysian businessmen, who had invested overseas, could not follow suit, THM would appear to be merely “a political gimmick”.
“Properties in the Australian Gold Coast were sold, I was told, and money was brought back and invested in Japan and Korea,” he said in a statement sent through WhatsApp yesterday.
Masing questioned whether Malaysians had the sincerity and loyalty to their nation to do what the Koreans and Japanese did in the past.
“In order to make such effort effective and worthwhile, it must transcend mere publicity. Will our millionaires overseas be willing to do such sacrifices and sell their properties and revenue earned be invested at home?
“If we don’t have it, then Tabung Harapan is nothing more than just a political gimmick often used by DAP (Democratic Action Party) prior to the GE (general election),” he added.
As of 3pm on Friday, THM had received over RM18.6 million in donations from members of the public and corporations.
THM seeks to help the government repay the country’s national debt.
Finance Minister Lim Guan Eng announced the account number for THM on Thursday.
Lim has been DAP secretary-general since 2004.