The Sultan of Johor, Sultan Ibrahim Sultan Iskandar today defended his involvement in Malaysian private business enterprises, saying that he could not just rely on the RM27,000 monthly allowance he is given by the Federal Government.
The ruler, during an exclusive interview with The Star‘s Wong Chun Wai and Nelson Benjamin ahead of his impending coronation ceremony on March 23, said that it was part of his royal family’s tradition to be involved in business, and that his monthly allowance of RM27,000 was insufficient to keep his affairs in order.
He cited his ancestors, Sultan Abu Bakar and Sultan Ibrahim, as being involved in the gambier, black pepper, and rubber industries in the 19th century.
“I believe it is healthy for royalty to be involved in proper and legitimate businesses rather than to be in dubious businesses that harm the image of the institution,” he said.
“I want to pass this trade to my sons as they need to learn.”
His Royal Highness also said that he, like ordinary Malaysians, had to “earn a living like everyone else.”
“I am sure Johoreans do not want to perceive me as one selling titles for my income. It is unfair to say that the private sector would be crowded out,” he added.
The Sultan of Johor has been an active player in private enterprise, and holds among others a 15% stake in online venture MOL worth USD120 million (RM445 million) and a 20% stake in REDTone International Berhad, another online company.
Last year, his business dealings caused a stir when a RM4.5 billion deal was inked between His Royal Highness and a mainland Chinese company in exchange for prime land in the Johor Bharu and Iskandar areas. The deal prompted many quarters to question the propriety of Malaysian royalty being involved in private business.
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