Prime Minister Datuk Seri Najib Razak today announced the disposal of another 10 companies -- five under the Permodalan Nasional Berhad (PNB) stable and another five subsidiaries of Khazanah Nasional Bhd.

The disposal was to enable all the companies to be handed back to Bumiputera companies through open tenders, said Najib, who is also Finance Minister.

The decision was made at the two-hour Bumiputera Agenda Action Council meeting chaired by Najib in Putrajaya.

The prime minister said the decision would facilitate PNB, Malaysia's biggest fund manager, and Khazanah, the government's investment arm, to dispose non-core businesses besides providing the opportunity to potential and proven track record Bumiputera firms to take over the companies to develop them further.

Present were Deputy Prime Minister Tan Sri Muhyiddin Yassin, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah and Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop. -- Bernama