Former prime minister runs a bakery

Posted on August 14, 2006 

Former prime minister runs a bakery

Malaysia’s outspoken former leader Mahathir Mohamad, embroiled in a political row with his successor’s government, has a new venture — running a Japanese-style baker’s shop.

The 80-year-old politician is chairman and controlling shareholder of a firm operating a business called “The Loaf” serving bread and pastries. It opens its doors in the resort island of Langkawi Saturday.

“I have always urged people to go into business through joint ventures with foreigners,” Mahathir was quoted as saying by the Star newspaper Thursday.

“Now I want to try my hand at both — making bread and joint venture with the Japanese,” he said, adding that he had a favorite baker’s shop in Tokyo called “Johan.”

Mahathir owns a 51 percent stake in a company called M&M Consolidated Resources Sdn Bhd, which is investing three million ringgit ($817,000) in the venture. A Japanese partner owns the remaining 49 percent stake.

The company plans to expand by setting up shops in Kuala Lunmpur, Phuket and Singapore, the newspaper said.

Mahathir had some business experience before turning to full-time politics, running a medical clinic and petrol kiosk. He retired in 2003 after 22 years in office as prime minister.

($1 = 3.6 ringgit)

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from My Way

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