KUALA LUMPUR, March 18 — Johor ruler Sultan Ibrahim Sultan Iskandar has defended his involvement in businesses like property development and a power plant project, saying that he cannot rely on his RM27,000 monthly allowance.
Sultan Ibrahim told local daily The Star in an interview published today that he believes it is healthy for the royalty to be involved in legitimate businesses and that he has never tried to hide his business dealings through proxies.
“I have to earn my living like everyone else,” Sultan Ibrahim was quoted saying.
“I cannot depend on my allowances of RM27,000 a month. I must earn a living, like ordinary Malaysians,” he added.
The Johor ruler noted that the Johor royal family has a long history of doing business, starting with gambier and black pepper in the 19th century.
“I was doing palm oil business when I was the Tengku Mahkota. Don’t tell me that once I become the Sultan, I have to stop everything,” said Sultan Ibrahim.
Malaysiakini reported last July that the Johor ruler is the largest shareholder of Esplanade Danga 88 Sdn Bhd, which formed a joint venture with China developer Country Garden Holdings for the controversial Forest City property project.
Another company belonging to the Johor sultan signed an agreement with Tenaga Nasional Berhad last July to construct and operate a power plant in Pasir Gudang, Johor, according to a report in The Star.
