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Is Nazir Razak really the humble businessman or a crony in disguise?

By   /  March 27, 2014  /  2 Comments

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The name Datuk Seri Nazir Razak is no stranger to Malaysians. In fact, he is the brother to the prime minister Datuk Seri Najib Tun Razak and the CEO of CIMB Bank.

Award winning CEO

He was the CEO of the Year by the Malaysian-ASEAN Corporate Governance Index Awards 2013. But one cannot shake off the fact that he is the prime minister’s brother although he has often been referred to as the ‘Top Banker of Malaysia’ and a ‘humble business man’ who does not like the limelight.

Reason behind low-profile

This is perhaps there is a reason behind him being so low profile. Recent allegations of corruption and nepotism has shed a different light on Nazir. It was revealed recently that he owns a RM180 million ringgit mansion in Holland Park, one of the most posh areas in the UK. He owns 12 luxury cars that include Bentley and Maybach.

Branded wife

Nazir’s wife is Azlina Aziz who is the daughter of Tan Sri Aziz Taha, the former governor of Bank Negara and a lover of branded and designer goods. She likes to do her shopping in Italy and France. In fact, it is believed that she has the biggest collections of Hermes Birkin bags which reportedly cost about RM3000k each, and that is only some of her stuff.

Major shareholders in CIMB

Azlina owns 400,000 unit of CIMB Shares which combined with Nazir owns about 28 million shares valued at around RM30million. That was in 2008. Imagine what it is now.

Scandals
Lynn Goh is the name that Nazir has often been linked with for having a ‘close’ relationship. In fact, she is known as the ‘gatekeeper of CIMB’ where she is respected by everyone in the organization.

Apart from that, Nizar has been linked with other scandals that include the controversial acquisition of the former Southern Bank to form CIMB Bank today and the use of Synergy Drive Sdn Bhd for merger and divest to foreigners for profit purposes.

And Nazir’s group role in the MAS-AirAsia swap deal that turned sour was another issue.

He earns about RM700k monthly and one wonders how he can finance an RM180 million mansion in the UK.

Its hard not to link Nazir to Najib and when the government servants, ministries and agencies use CIMB back, no one with a sane mind will be able to shake off the thought that cronyism and nepotism is alive and well in Malaysia and that comes direct from the top to the top banker.

 

 

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  • Published: 3 years ago on March 27, 2014
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  • Last Modified: March 27, 2014 @ 4:25 pm
  • Filed Under: Grievances

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