Most of us by now are aware that sthe price of sugar is increased by 20 cents this morning, making the new price standing at RM2.30. Do yo still remember what was the price in January 2010, RM1.40 (Yes, you got it right.(Hey, stop there, the price was not increased, it was just a subsidy adjustment/realignment/restructuring or whatsoever)..It is a ripoff, the price have shot almost 90%! OMG!But the spin doctors put it in a nice way saying that, the Government saves billion of dollars by cutting these subsidies, and do you know that it is done with the consideration of Malaysian's health as the main point(where do they get these spindoctors from?) It is claimed that the latest subsidy cut alone would save Government RM116 million.
Dont you think there are other mechanisms to control sugar's price, why do you think Robert Kuok ended as one of the richest man in the 'WORLD'...yes....you read it right....some info below to jog your memory....(his biodata, The World's Billionaires (2010): #33 Robert Kuok". Forbes. March 3, 2010. http://www.forbes.com/lists/2010/10/billionaires-2010_Robert-Kuok_ARHN.html.:
Tan Sri Dato Dr Robert Kuok has been the 33rd richest person in the world, Over taking Tan Sri Dato Dr Yeoh Tiong Lay (YTL) , Dato Ananda Krishnan and Dato Brian Tan. Kuok's father arrived in Malaya from Fujian, China at the beginning of the 20th century, and Robert was the youngest of three brothers, born on 6 October 1923, in Johor Bahru. He claims he began in business as an office boy, and later started a business with relatives' support. In fact, upon graduation, he worked in the grains department of Japanese industrial conglomerate Mitsubishi between 1942 and 1945 Kuok senior died in 1948, and Kuok and his two brothers founded Kuok Brothers Sdn Bhd in 1949, trading agricultural commodities. Under the new post-colonial government, Kuok started in the sugar business alongside the government. In 1961, he made a coup by buying cheap sugar from India before the prices shot up. He continued to invest heavily in sugar refineries, controlled 80% of the Malaysian sugar market with production of 1.5 million tonnes, equivalent to 10% of world production, and so earned his nickname "Sugar King of Asia". In 1971, he built the first Shangri-La Hotel, in Singapore. His first foray into Hong Kong property was in 1977, when he acquired a plot of land on the newly reclaimed Tsim Sha Tsui East waterfront, where he built the second hotel, the Kowloon Shangri-La. In 1993, his Kerry Group acquired a 34.9% stake in the South China Morning Post from Murdoch's News Corporation. His companies have investments in many countries, including Singapore, the Philippines, Thailand, Mainland China, Indonesia, Fiji and Australia. Businesses in China include 10 bottling companies for Coca Cola, and ownership of the Beijing World Trade Centre. Freight interests include Malaysian Bulk Carriers Berhad and Transmile Group.
His political influence is attested by his having been selected as one of the advisors on Hong Kong's future in the runup to the transfer of sovereignty of Hong Kong, and his minority stake in CITIC Pacific. He was also instrumental in conveying information and setting up the meetings between Malaysia and China governments leading to full diplomatic cross recognition of the two countries. Kuok has married twice and has eight children. His fourth eldest son, which he passed on to be the holder of Shangri-la Hotels Jeffrey Ong Teng Buey married twice. He has one daughter, Alyssa Ong Lei Yeng and three sons, Justin Choo Jia Wei, Bryan Choo Jia Jun and Jon Choo Jia Sheng. Tan Sri Dato Kuok officially retired from the Kerry Group on 1 April 1993. One of his sons, Kuok Khoon Ean, now handles most of the day-to-day operations of his businesses. He currently resides in Hong Kong.
Go figure out how he could manipulate and outmanouvre the Malaysian sugar market...of course with some help from our political brothers....Life is so SWEET for him...not so SWEET for the rest of us...ciao
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