He can’t even save his bakery of 12 years but claims can save Malaysia in 100 days, says Vell Paari while another commentator questions Mahathir’s U-turns on his shares in the bakery

KUALA LUMPUR: Pakatan Harapan’s prime ministerial candidate Dr Mahathir Mohamad has come under ridicule over his excuses for the failure of his bakery, The Loaf which had been forced to shut down its business last week after 12 years of operation.

“Dr Mahathir can’t even save his bakery of 12 years, but claims can save Malaysia in 100 days?” said MIC treasurer general S Vell Paari, referring to Pakatan’s manifesto to save Malaysia in 100 days if the pact comes to power after GE14.

He also mocked Mahathir who had made U-turns about his shares in the bakery.

“It is unbelievable, and to be honest hilarious, that Mahathir would even lie to the Malaysian public that he owns a bakery.

“Going through everything that has been said in the media, the question on hand is, how is Mahathir going to ‘Save Malaysia’ in 100 days when he is unable to even manage and save his bakery business,” said Vell Paari today.

The MIC man also derided Mahathir for saying that he could not find investors to continue running the bakery.

“This is also very worrying that as a PM-designate, if Mahathir can’t even find investors for his bakery business, how is he going to find investors to invest in Malaysia and develop the country?”

Vell Paari said that if Mahathir had been less than forthcoming about his shares in the bakery, how could Malaysians trust him to keep all the promises he has made if Pakatan comes into power.

Political commentator Lim Sian See also slammed Mahathir for his U-turns on the ownership issue of the bakery.

Writing in his Facebook, Lim pointed out that Mahathir had said on Friday that he had long sold off his shares in the bakery.

Then on Saturday, Mahathir had said he had never held any shares in the bakery, and finally on Sunday blamed the government for blocking his efforts to sell off his shares to fund PPBM, said Lim.

Mahathir had started the The Loaf pastry enterprise after retiring from public office in 2003.

Last Thursday, it was reported that lifestyle bakery and bistro The Loaf was shutting down after 12 years in business.

Financial advisory and restructuring provider Ferrier Hodgson’s liquidator, Andrew Heng, said the owners of the bakery have chosen to wind down the business – shutting down all 12 outlets in the country.

The Loaf was run by M&M Consolidated Sdn Bhd, a joint venture between Mahathir and Motoko Resources Sdn Bhd. Mahathir holds a 51% stake in the company.

Heng said the owners of the business felt that it was not possible to continue the business following losses for the past few years.

“Basically it was not possible (to continue). There are just too many similar types of businesses and competitors. They are not doing good enough for profit,” he was reported as saying.