employ Bumiputeras at all levels of operations and undertakings. To achieve its objectives, many subsidiaries were subsequently set up. The first of which was Malaysia National Insurance Berhad (MNI), which was established in April 1970. This was followed with Pernas Construction Sdn Bhd, Pernas Engineering Sdn Bhd, and Pernas Securities Sdn Bhd. In 1973, Pernas Mining Sdn Bhd was set up and in the following year, Pernas Edar Sdn Bhd. Razaleigh became involved in what became known as the Haw Par imbroglio of the mid-1970s, working in concert with the Singapore-based Haw Par Brothers International Ltd, then one of the subsidiaries under the control of British wheeler-dealer Jim Slater, to acquire control of the British-owned tin conglomerate known as the London Tin Company, and the plantations conglomerate Sime Darby. This was to be achieved through a web of transactions in which both would end up in the control of PERNAS. Things came to a standstill when Singapore accused Haw Par of financial irregularities and later jailed a senior executive. But this proved a short-lived setback for Razaleigh. Within two years, he enlisted the help of the merchant bank Rothschild – which was also a part owner of Bumiputera Merchant Bankers – to engage in a share and proxy battle to wrest Sime Darby from British control and shift its headquarters to Kuala Lumpur. Control of the London Tin Company soon followed. In 1979, another takeover attempt was made to achieve control of Kumpulan Guthrie Bhd, when Malaysian money made a "dawn raid" on the plantation giant; this helped to kickstart a "domino effect" which sealed the fates of most other foreign owned plantations. Among the major corporate takeover exercise and formation of new businesses during Razaleigh's stewardship as Pernas chairman were Insurance – Malaysia National Insurance Bhd, Banking – Maybank Bhd, Mining – the then-largest tin mining company in the world, London Tin Company, which was later renamed MMC Corporation Berhad. Palm Oil and Rubber Producer – Sime Darby, Guthrie Berhad, Highlands & Lowlands Berhad. In 1971, Razaleigh led a trade delegation to China to initiate a prospect of a business relationship. During the visit to China, Razaleigh was granted a meeting with China's then Premier Zhou Enlai. In 1971, total trade with China stood at a mere RM105.6 million. By 1980, this ballooned to RM1.6 billion. Since then, the contact between the two countries has steadily increased. Fleet Holdings