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Bumiputera equity ownership rose to 23.09pc in 2010
PUTRAJAYA: Bumiputera corporate equity ownership has increased from 21 per cent worth RM127.08 billion in 2008 to 23.09 per cent worth RM167.7 billion in 2010.
This is based on the total equity amounted to RM726.4 billion in 2010 compared with RM581.8 billion in 2008, Prime Minister Datuk Seri Najib Razak announced today.
This figure includes ownership by Bumiputera individuals, institutions with Bumiputera interests (institutions established to mobilise Bumiputera savings) such as Tabung Haji and Lembaga Tabung Angkatan Tentera and trusts agencies (agencies specifically set up and mandated by the government to increase Bumiputera involvement in the economy) such as Permodalan Nasional Berhad (PNB), Permodalan Usahawan Nasional Berhad (PUNB), MARA and state economic development corporations.
A statement released by the Economic Planning Unit of the Prime Minister’s Department showed that insurance and takakul showed the highest increase from 37.56 per cent (RM53.35 billion) in 2009 to 38.97 per cent (RM65.37 billion) in 2010.
“The increase in Bumiputera corporate equity ownership is the result of the the government’s efforts and commitment in continuing the Bumiputera development agenda.
“The Government had taken steps to strengthen the existing role of Bumiputera institutions such as Mara, Permodalan Nasional Bhd (PNB), Tabung Haji, UDA and Yayasan Amanah Hartanah Bumiputera to increase the Bumiputera equity ownership in the economy,” it said.
The government also further expanded the definition of the corporate sector equity ownership to include properties and assets and intellectual property.
For this purpose, the government had strengthened the role of other agencies such as Ekuiti Nasional Bhd (Ekuinas) and Perbadanan Hartanah Bhd.
Najib had earlier chaired the Bumiputera Agenda Action Council meeting.
In a separate statement issued by Unit Peneraju Agenda Bumiputera (Teraju), it said that Najib announced a tax exemption for any cash or contribution in kind to the Yayasan Peneraju Pendidikan Bumiputera (YPPB).
“With this tax relief, the Prime Minister hoped that more parties will come forward to contribute to ensure the Bumiputera economic transformation agenda, especially in education, will achieve its goals.
YPPB is now actively seeking to mobilise private funds to increase the number of Bumiputera in higher education. Various activities and programmes are being planned for implementation in the near future.
YPPB had introduced its debut signature programme, which focuses on potential and able SPM and STPM students who obtained good and excellent results but come from low-income families and challenging environment.
The programme has received nearly 8,000 applications. For the first phase, a total of 225 students will be offered scholarships to pursue their studies in the foundation, A-Level, International Baccalaureate and diploma / university degree.
Teraju also said that under the TeraS programme, a total of 130 Bumiputera companies have been identified for collaboration.
Two companies under the programme, Ahmad Zaki Resources Berhad (AZRB) and MITC Deluxe Hotels (M) Sdn Bhd will collaborate to become corporate champions to provide more business opportunities for smaller companies.
As a construction and civil engineering company, AZRB will work together with Teraju to introduce a supply chain for the construction industry. AZRB will offer a two-year supply contract worth RM500 million to Bumiputera companies.
Another company under the TeraS programme, MITC Deluxe Hotel will be working with Teraju to increase the capacity of Bumiputera companies in high-impact sectors such as tourism.
MITC will invest RM100 million over three years to realise a three year business development plan, which it hopes will provide an opportunity for other Bumiputera companies in ancillary businesses such as 'halal food', logistics, provision of cultural performances.