Najib: Malaysia's closed service sector was similar to Myanmar
Datuk Seri Najib Tun Razak said that, to date, some RM54bil in shares were allocated to bumiputras but only RM2.4bil still remained in their hands.
He explained that among the reasons for the mass sell-out include poor holding power, not serious about holding the shares, high gearing cost especially involving financing or not being able to take part in the running of the company as they did not have the 30% stake.
He pointed that those who received shares were not ordinary folk but mostly influential people who sat in the front rows at functions such as Tan Sris and Datuk Seris.
“This is why Bumiputra equity has been at only 18.9% for the past 19 years,” he said, adding that it was “madness” to continue with the same policy hoping that the outcome would change for better.
“The end result is that we have to change and one way is to have Equinas Nasional Bhd (Ekuinas), a private equity fund to help bumiputras,” he said, adding that he wanted bumiputra entrepreneurs who were not only champions locally but also regionally and internationally.
Besides this, Najib also talked about the liberalisation of the services sector, changes to Umno, the abolishing of teaching science and mathematics in English and his One Malaysia concept and Umno’s preparedness for the next general election.
On the liberasation, he added that it was important as Malaysia’s closed services sector was similar to Myanmar.
“We invest in other countries but we do not allow others to invest here,” he said, adding that Indonesia, Cambodia and Thailand had opened up their services sector.
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Source: The Star
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8 comments:
If what Najib did are called "liberasation", then my fridge magnet are master of the universe.
just tell his cronies and his umnoputras not to cheat his own kind..there will be enough. For example..Take the 24million from Toyo and distribute to the malays in klang, and the ill gotten wealth of the railway guard in pandamaran for wealth distribution. As long as there are crooks and cheats, all the funds created for the ordinary malays will be siphoned off.
Give another fifty years, malays will be in the same spot...as long as the crooks are still around.
"He explained that among the reasons for the mass sell-out include poor holding power, not serious about holding the shares, high gearing cost especially involving financing or not being able to take part in the running of the company as they did not have the 30% stake."
this means someone owes some other one an apology,......
On one hand Najib is taking away the NEP crutch, while on the other hand he's handling out a new Equinas wheelchair!
Same shit, different day!
EquiNAHAS! But be careful only certain people can fall from upstairs of Govt buildings. UMNO people haven't got that ability at all. That's why they only have less than 19%.
It will increase when they also can fall down.
What BIJAN needs to do, to safeguard the Country short and long term citizens harmony and prosperity is to donate his heart to the needy Somalians, his kidneys to Chinese in mainland China, his small dick to Mongolian Government, and his balls to Myanmar for exotic dish for dinner.
Imagine 27millions of Malaysians will be happy ever after.
some food for thought huh...
And they continue to put the blame on others when the Malays continues to be poor !
Sound like a broken record.....again....
Like before, where we got law here one???
Anyway, how are you lately Mav, sorry been a while since I came here....a lot of personal issues lah....
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