30% Bumiputera equity yet to be achieved, says PM

[superadmin]

KUALA LUMPUR: The government’s target to raise Bumiputera equity ownership to 30% has yet to be achieved, prime minister Ismail Sabri Yaakob said today.

Ismail said as of 2019, it stood at 17.2%, while non-bumiputeras held 25%, and foreigners 45.5%. The remaining 12.3% is held by nominees.

The 30% target was set as part of the New Economic Policy (NEP), following the events of May 13, 1969 due to the economic disparity between the races.

Bumiputeras currently account for some 64% of the population.

“To ensure sustainable equity holdings by Bumiputeras, an equity safety net will be introduced to ensure that sales of shares or Bumiputera firms will only be sold to Bumiputera companies, consortiums or individuals,” he told the Dewan Rakyat when tabling the 12th Malaysia Plan (12MP).

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