Call to abolish 30pc Bumi quota
So what's the problem?
According to the Penang Chinese Chamber of Commerce (PCCC) honorary president, Tan Sri Tan Kok Ping, the 30 per cent Bumiputera quota in housing and commercial projects would make them less competitive. Apart from this point, it was also to ensure equal opportunities are given to all, irrespective of race.
According to Tan, "If it is enforced in a rigid way, property developers will have a tough time fulfilling the criteria. As it is, they are already facing problems meeting the quota, especially on the island."
Before anyone jump the gun and start shooting, let's analyze the facts stated and the rationale.
Firstly, Tan Kok Ping contended that it makes property developers less competitive. Is that true? In what way? Every housing estates have to comply to the same rule. At such, no property developer would have any unfair advantage over their competitors, be they Bumi developers or non-Bumi developers. When we talk about competition, it is about advantage one developer holds over the others. There isn't in this case. So, the issue of competition and competitiveness is but BULLSHITs! Utter Bullshits!
Secondly, he cited that it was necessary to ensure equal opportunities are given to all, irrespective of race. What the fuck is this about? Did anybody stops anyone from buying? It's about supply and demand. If the demand is there, the property developer will begin phase 2, 3, and 4. If there is land constraint, then the developer could buy up the adjacent land or land within the vicinity to built more houses, sell at higher price and makes tonnes of money. The 30% does not hamper their commercial enterprising. Let's assume some 20% were not taken up by Bumis and all the developer had to do is wait for the specified period to pass and then apply to the authority for exemption. There is absolutely no competitive disadvantage except for the fact that developers may incur holding costs. For that matter, businessmen or organisation should have factored-in the holding cost in their budget. The fact is clear - it has nothing to do with equal opportunities - the only aspect of unequalness is that non Bumi buyers do not enjoy the 15% discounts, but it is not the issue that the PCCC is fighting for, they are trying to lower their (developers) holding cost, and absolutely nothing about benefiting the non-Bumi purchasers. If property developers are so altruistic, they should also offer the non-Bumis the same 15% discounts; the authorities are not stopping them from doing so. So, don't blame the quota just to gain personal advantage.
The third point: "... property developers will have a tough time fulfilling the criteria. As it is, they are already facing problems meeting the quota, especially on the island." What the fuck? I had been a manager for a property developer in Penang Island and we didn't have the problem of fulfilling the criteria. If you built something that the Bumis' like, they will buy. If they didn't, then we just wait for the 6 months gestation period and apply for exemption. So far, the authorities had been reasonably fair in granting the exemption. So, what's the hue and cry? The only issue at hand is probably the fact that luxurious and expensive houses could face problem with bumi buyers. It's not because there are no rich Bumis there; there are plenty, but the rich Bumis have their own land and will engage contractors to built their own houses. Most of the luxurious houses are sold to investors, mostly foreigners or Malaysians who are in foreign land.
Lastly, but not the least, lets be open-minded. The 30% Bumi allocation is not a racial issue and do not constitute discrimination and do not marginalise the non-Bumis, neither disadvantage them. There is no competitive disadvantage for developers or house buyers except the fact that developers do incur holding cost, if any.
The non- Bumis should not be sensitive over this allocation and there is no unfairness that exist as there is the 70% to buy from. In fact, if there is an oversold situation, the developers will take advantage and hike the price by building another parcel or phase. The property developers do not bother whether you are white, yellow or black - they only recognise you by the $$$. They are only interested in making money. If 100% Bumis wants to buy, the property developers (Bumi or Non-Bumi developers) will sell all to them - they won't reserved the 70% to non-Bumis, nor even 10%. They are capitalist without color or creed. So, don't they try to portray as champions of any race.
It's all about supply and demand, irrespective of color or creed. It's all about making money. There is no love and none (developers) are altruist. Leave the 30% quota intact, maybe, the authorities can consider some flexibilities in certain areas where the Bumis are totally uninterested. It's easy to know as you can do a market survey and see the response during the launching of the project sales. But I hope we don't not allow some opportunist who comes in the clothes of the sheep and uses race and religion as a front for personal or institutional benefits.
Look out for these false prophets!!!