KUALA LUMPUR: Tun Dr Mahathir Mohamad has come out in defence of Tun Daim Zainuddin, saying the former finance minister was a self-made man even before he joined the government.
"He was already rich in 1981, when I became Prime Minister," the former prime minister said in a statement.
"Yet the belief is that he made money as minister."
Dr Mahathir said Daim made his money developing Maluri on 160 acres of land and gave up doing business when he was appointed finance minister in 1984.
"When you stop business, you no longer make money."
Dr Mahathir said as prime minister, he drew a monthly salary of RM8,000 and that Daim would have earned less.
"So Daim, as finance minister from 1984 to 1991 must have lost a lot of money."
He said that Daim strived to realise the NEP, handpicking some young Malays to take on government projects and licences.
"To catch up with the rich Malaysians you cannot start by selling tom yam or pisang goreng on the roadside. Daim wanted Malays to start from the top.
"But many of those he picked, trained, and gave opportunities failed.
"We don't hear about them. They were not labelled as cronies."
He said while Daim's idea did not work out as planned, some Malays succeeded, helping reduce disparities and ensure greater stability.
Dr Mahathir said if Daim only concentrated on enriching himself, he would be worth RM50 billion today.
Daim died on Nov 13, aged 86.
Daim, the businessman turned politician served as finance minister between 1984 and 1991 and later between 1998 to 2001.
He also served as a member of Parliament for five terms between 1982 and 2004.
In 2018, Daim and other party veterans who supported backed Dr Mahathir in opposing then-prime minister Datuk Seri Najib Razak, were sacked from Umno.
Daim would go on to appear in Pakatan Harapan rallies ahead of the 14th general election which saw the fall of Najib and the Barisan Nasional government.
Following the change of government, Daim spearheaded a Council of Eminent Persons tasked with advising the new government for its first 100 days.