Investing in football a bad idea, says Tee

Investing in football a bad idea, says Tee

He tells wealthy Malays to think long term, like their non-Malay counterparts.

tridhuan-tee

KUALA LUMPUR:
Sinar Harian columnist Ridhuan Tee has advised Malay businessmen to adopt the mindset of their non-Malay counterparts when investing their money.

In his latest article, he criticised Malay entrepreneurs who sponsor sports and other entertainment ventures, saying these were unlikely to result in long term gains.

He did not name names, but the article made it obvious that he was mainly commenting on Vida Beauty Sdn Bhd’s RM16 million sponsorship of the Kelantan Football Association.

He said “these business people” should have done their research on the long term prospects of national football. He expressed doubt that local teams could ever make it to the international arena.

He noted that rich non-Malays preferred to sponsor famous international football teams.

Malay entrepreneurs, on the other hand, would jump in without a safety net, blinded as they were by the prospect of obtaining publicity and popularity, he said.

Tee advised Malay entrepreneurs to follow in the footsteps of the non-Malays, saying the latter would often invest in expanses of land to ensure returns over the long term.

He cited Genting Highlands’ Lim Goh Tong as an example, saying he had worked hard to ensure the success of his venture and had now acquired enough wealth for generations of descendants.

“I am not jealous,” he said. “I applaud them for the way they work.”

He said he was pleading with all Malay millionaires to learn how to prioritise, and to learn this from the non-Malays.

He acknowledged that Malaysian football teams in the past had achieved remarkable successes, but he said current footballers appeared to be more concerned with gaining popularity than putting in the effort to make their country proud.

“Today we have sports schools and many other facilities. So why are we not doing well? The answer is that we have no goal when it comes to sports. We politicise, we chase popularity, and we abandon knowledge.”

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