save malaysia!
Former minister calls govt’s Bumi equity safety net ‘suicidal’, claims Malay businessmen not keen
savemalaysia
Publish date: Tue, 28 Sep 2021, 05:07 PM
KUALA LUMPUR, Sept 28 — Malay businessmen are not keen on the equity safety net announced by Prime Minister Datuk Seri Ismail Sabri Yaakob in the 12th Malaysia Plan (12MP), Kuala Selangor MP Datuk Seri Dzulkefly Ahmad told the Dewan Rakyat today.
The Opposition lawmaker claimed that his corporate friends described the policy as “suicidal”.
“I just want to express the views from corporate friends and the Malay business community especially, who said that when the prime minister said only Bumiputera will be able to buy Bumiputera-share firms, they then immediately sent me WhatsApp messages saying: ‘This is the worst policy’.
“They said it seemed like a good idea, but if killing the Bumiputera companies economically is the intention, this is a sure way. It is suicidal,” the former health minister added during debate on the 12MP.
Yesterday, Ismail Sabri said that Malaysia has yet to achieve 30 per cent equity for its Malay and indigenous demographic group.
As such, he said the government will introduce a safety net for sustainable Bumiputera equity ownership, where Bumiputera companies or Bumiputera shares only offered and sold to other Bumiputera consortiums, companies or individuals.
Holdings and disposals of ownership in Bumiputera companies are also to be regulated by related ministries and agencies.
Ismail Sabri also announced funding to improve Bumiputera businesses’ sustainability to hit 15 per cent contribution to gross domestic product (GDP) by Bumiputera micro, small and medium enterprises in 2025.
https://www.malaymail.com/news/malaysia/2021/09/28/former-minister-calls-govts-bumi-equity-safety-net-suicidal-claims-malay-bu/2009048
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Discussions
Be the first to like this. Showing 14 of 14 comments
“I just want to express the views from corporate friends and the Malay business community especially, who said that when the prime minister said only Bumiputera will be able to buy Bumiputera-share firms, they then immediately sent me WhatsApp messages saying: ‘This is the worst policy’.
Answer : Lesson never learn! Just look at bumi lots for housing! Many remain unsold! Even those who bought bumi lot really regret it! They can't sell back easily! Same with this Sabri proposal! End up, nobody buying it or end up cheap in hands of the malay elites! I mean why bother since local chinese can easily setup new entity to slaughter this dying bumi ones!
2021-09-29 11:51
Really shows Ismail Sabri has zero business sense! Short sighted at best! No wonder so many of his bumi only business turn into disaster!
2021-09-29 11:52
Malay Reserve land is another good example of Bumi Sellers to "Bumi Buyers Only" garbage. A Non Bumi and a Malay Reserve land next to each other. The Non Bumi land is more valuable with many potentials, prospective buyers and chargeable to banks. Whereas, the neighbouring Malay Reserve land remains low value and under develop.
2021-09-29 12:02
Smarttraveller! Yeah, so elite malays will buy this malay reserve land and change the title to commercial land! Bingo! Money from thin air!
2021-09-29 13:10
tell u many time already
this is a rotten country
cannot be saved anymore.
just go buy insas
make big money
then migrate to australia, nz, singapore, or canada.
Over there, no more this kind of nonsense
causing hardship to everyone.
2021-09-29 13:15
Leno! Those were the days! Many local chinese made millions from bursa! Then migrant to Australia! Nowadays, we hardly see any superbull!
2021-09-29 13:17
Do you know why foreign investors prefer Thailand and Vietnam rather than Malaysia?
2021-09-29 13:18
all rich chinese all migrate AU, Canada... leaving poor cina ah pek still putting hope at lousy bursa. wakaka
2021-09-29 13:22
really
aah, but you're still here, after all these donkey's years of whining & complaining
Posted by leno > Sep 29, 2021 1:15 PM | Report Abuse
tell u many time already
this is a rotten country
cannot be saved anymore.
just go buy insas
make big money
then migrate to australia, nz, singapore, or canada.
Over there, no more this kind of nonsense
causing hardship to everyone.
2021-09-29 13:34
the present ruling class in oz, nz, canada, US today are all descendants of anglo-saxon & other british/euro immigrants
the pribumi/bumiputera people in those places have been all conquered & largely genocided
if our people here had given you guys enough of a chance, you'd have done the same to us too
Posted by chinaman > Sep 29, 2021 1:22 PM | Report Abuse
all rich chinese all migrate AU, Canada... leaving poor cina ah pek still putting hope at lousy bursa. wakaka
2021-09-29 14:13
why only choosing the richest places
why not migrate to vietnam, philippines, indonesia, thailand, bangladesh, pakistan etc.
Posted by leno > Sep 29, 2021 1:15 PM | Report Abuse
tell u many time already
this is a rotten country
cannot be saved anymore.
just go buy insas
make big money
then migrate to australia, nz, singapore, or canada.
Over there, no more this kind of nonsense
causing hardship to everyone.
2021-09-29 15:02
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Good suicide larh...financial difficulties cannot find identical potential buyer cannot lock capital...hehe
2021-09-29 11:45