KUALA LUMPUR: Former law minister Datuk Zaid Ibrahim said Malays in the country had little to worry about and there was no reason for alarm over revelation that only one out of 97 listed companies in Bursa Malaysia in the last three years is Bumiputera-owned.
In his latest Facebook posting, Zaid said it was only understandable for Bursa Malaysia chairman Tan Sri Abdul Wahid Omar to speak of fears about the dwindling Bumiputera interests in the private sector when speaking at the Bumiputera Economic Congress yesterday.
He, however, said if there is one thing the Malays should be more concerned with is to ensure those entrusted to protect the community do not end up betraying them.
"If there is one thing we should be concerned with, it is what our forefathers told us five hundred years ago.
"Jagalah Pagar; Supaya Pagar tidak makan padi (a Malay proverb that reminds the Malays to make sure those trusted to protect them do not end up betraying them)
The former Kota Baru member of parliament started off his posting - titled Another day at the Congress by pointing out that Wahid was a well-known Malay technocrat.
Zaid said it was only understandable that a Malay leader speaking at the Bumiputra Congress must pitch the speech appropriately to an audience anxious to hear how they are to be saved.
"You have to be alarmist and caring about their bleak future, and you have to be seen as a saviour.
"However, Bumiputeras/ Malays generally do not have to worry too much. In this country, Bumiputeras control everything....we have a Bumiputera government...Petronas and the biggest banks are practically Bumiputeras.
"PNB (Permodalan Nasional Berhad) owns all the significant conglomerates for the Bumiputeras. Khazanah and the hundreds of GLCs (government linked companies) are Bumiputeras," he said.
Zaid said Chinese promoters should be allowed to get some limelight and be the owners of listed companies.
"Give them a break. After all, who knows that behind the beneficial ownership list, there are links to other interests in the subterranean corporate world of the country? Everything is possible.
"To the Malays, I say relax. Our leaders are doing everything for us. The worldly matters, that is. No group in the world are as fortunate as the Bumiputeras."
It was reported yesterday that Wahid said the fact that only one out of 97 listed companies in the past three years is owned by Bumiputera reflected the actual participation of the Bumiputera in the business sector and serves as a wake-up call to the group. (https://www.nst.com.my/news/nation/2024/03/1019778/wake-call-only-one-ou...)