Mapem Wants Bumi Equity Stake Raised To 50%


Sep 24, 11 6:59pm

The Malay Economic Consultative Council (Mapem) today said Teraju, the agency entrusted with the responsibility of helping bumiputera entrepreneurs, needed to move faster and more effectively to enable the bumiputera community achieve a 50 percent equity ownership in the country’s economy.

Its president, Rozali Ismail, said: “We are not satisfied yet. We want Teraju (Unit Peneraju Agenda Bumiputera) to be more effective in pushing up the equity ownership of Malays in the economy to 50 percent.”

He said this during a press conference at a Hari Raya gathering organised by the Malay Chamber of Commerce Malaysia Selangor and Mapem, in Shah Alam today.

Rozali said Mapem would continue to advocate the increase of bumiputera equity ownership in the economic sector and had called on Teraju to play a more effective role towards the efforts.

List 1,100 bumi companies on Bursa

Asked on the efforts taken by Teraju to list 1,100 capable bumiputera companies on the stock market, he said Mapem certainly supported the efforts to identify successful Malay companies that could be listed.

He, however, admitted that it would not be easy to get a company listed within a short period as the companies would have to record profits for three consecutive years and also guarantee returns for the subsequent three years as well.

He said the chosen Malay companies for listing should be successful, competitive and capable of progress.