In fact it is well known that the Umno leaders were only convinced of the possibility of this take over [the Dawn Raid] by the arguments of JJ Puthucheary in his pioneering book entitled “Ownership and Control in the Malayan Economy (1960)”.
Malaysiakini 27 April 2007
On the morning of 7 September 1981, in less than four hours of the commencement of trading, Permodalan Nasional Berhad (PNB; the National Equity Corporation), the Malaysian government’s investment agency, increased its stake in Guthrie Corporation Ltd. (GCL) from around 25% to more than 50% of the British company’s 31.34 million shares, ‘effectively skirting any kind of defence or battle for better terms’.1
1 The ‘Unfinished Business’ of Malaysia’s Decolonisation: The Origins of the Guthrie ‘Dawn Raid’ : Shakila Yacob 2010