HE holds no official position in the Malaysian government. He is not a political warlord, with thousands of ground troops at his beck and call. 

And unlike Dr Mahathir Mohamad, he does not feel the need to be heard or seen every day. Yet, Daim Zainuddin is still a much sought after individual. 

Foreign and local bankers make a beeline to his office in the 64-storey Ilham Tower, the fifth tallest structure in Malaysia, to tap his brain on the problematic household debt, on a slew of troubling economic indicators, the future of Malaysia. 

Politicians from Umno and across the political divide are willing to sit across him, put up with his answers to their questions, hoping that somewhere in that pile of words they will be able unearth his prediction for the next general election. 

After all, it was he who floated the idea of Barisan Nasional losing a few states in the 2008 polls.

Journalists try and score that all-important interview with Daim, certain that he possesses inside dope on everything from the date of GE14 to an honest prognosis of Pakatan Harapan’s chance to unseat Najib Razak’s BN.

In short, people believe that the former finance minister and billionaire is still plugged in into the system. Perhaps troubling for him is a growing belief among Najib’s strategists and ‎backroom boys is that he is the brains behind PH and even a contributor of significant funds to the opposition cause.

In the past few months, pro-Najib bloggers have trained their attack on the rail-thin businessman, linking him to the massive losses suffered by Bank Negara Malaysia because of excessive currency speculation in the 1990s. Now there is a campaign to question the source of his wealth and portray him as the power behind a mosquito party called Parti Bebas Rasuah.

The objective of their offensive is clear: the pro-Najib bloggers and their sponsors want Daim to embrace retirement fully. Say nothing negative about the Najib administration and do not attempt to be the hidden hand behind the attempt to knock Najib off his perch.

Those familiar with Daim concede that there is no love lost between him and Najib. He believes that Malaysia’s economic growth is fuelled by debt and is not sustainable. Indeed, he believes that the government will have to borrow about 90% to finance development projects.

He also has told visitors to his office that despite registering positive growth, there are not enough jobs for graduates, with number of unemployed graduates growing some 16%. The number of low-skilled workers has increased while the number of jobs for high-skilled workers has decreased.

All said and done, Daim feels that the PM, who is also the finance minister, does not have the expertise to oversee the economy.

‎He is certain that Malaysia is facing a crisis, where there is a lack of integrity and moral character among the ruling elite, where the brazen acts of corruption no longer surprise Malaysians.

Several who have met him recently say that he believes that the Najib government is no good for Malaysia but he does not seem to have the confidence that either Dr Mahathir or PH have a cohesive and workable plan on how to win GE14. 

He rued that the 92-year-old Dr Mahathir seemed to be the only one working the ground energetically while the other “big names” of Parti Pribumi Bersatu Malaysia did not have the appetite for grunt work. They surfaced occasionally to make public statements but were doing little to build the nascent party from ground up.

A social activist said Daim attended one meeting a group had with Dr Mahathir but he was in the background and said nothing during the sessions.

Those who know the enigmatic Daim said, staying in the background and absorbing what others are saying is very much part of the businessman’s DNA. He also is less interested in gut feeling and prefers to rely on empirical evidence before reaching any decision or conclusion. 

Occasionally, those who have difficulty influencing Dr Mahathir on a course of action, try and get Daim to persuade his former boss to take a step back and listen to alternative suggestions.

A banker, who met Daim regularly, told The Malaysian Insight: “My sense is that while he thinks Najib is bad for Malaysia, he has not much confidence that the opposition has a plan ‎to win. The Daim I know does not enter the fray if he is unsure of the outcome.”

An Umno veteran who meets Daim regularly also said the diminutive tycoon is not a fan of Najib and believes a regime change is good.  

“Is he going to be an active player behind the scenes? Don’t think so.

“If anything, he is hedging his bets to ensure his legacy and business remains,” he told The Malaysian Insight. – April 24, 2017.