When I read Najib's pronouncement yesterday I was a little unsure what he meant. Today, I am totally confused. Why? Najib says something which I didn't quite understand. And today, PAS's Hadi Awang made a statement which is totally stupid even. Okay, okay maybe I am not making myself clear. Okay let's go read what The Malaysian Insider reported today....
Datuk Seri Najib Razak announced yesterday that the government will drop the 30 per cent Bumiputera equity requirement for Malaysian firms seeking public listing, the cornerstone of the New Economic Policy (NEP), but they will now have to offer 50 per cent of the public shareholding spread to Bumiputera investors.
Drop the 30% Bumi equity requirement and then have to give 50% of the public shareholding to Bumi investors. Errrrr.....okay. That's different and is good for us Malaysians issit? Okay.
Then the Hadi fler says....he rejects the government’s plan to drop the 30 per cent Bumiputera equity requirement for Malaysian firms seeking public listing because he believes that the time is not yet right because the Malay community is not strong enough to face economic challenges.
First, Najib's announcement doesnt'make sense to me. The 30% equity requirement would not have benefitted the ordinary Bumi folks, right? Would they have the money or the knowledge to make such investments? No, right? That's why after years of the NEP we're still in the same shit-hole. And so, now give 50% of public shareholding to Bumi investors? Huh??? What's the difference ah? Isn't that going to have the same effect on our Bumiputra brethren? A BIG nothing???!!!
And then the blaardy PAS fler says he rejects the proposed plan because the Malay community is not strong enough to face economic challenges. So? It's been 50+ years. When are they going to be 'strong enough' with this kind of treatment from the people in government? Then the next part of his statement is quite laughable...“What was proposed before has not been achieved yet. We want equality for all races but at the same time, the Bumiputeras must be given the strength,” he told reporters in parliament today.
As a Malaysian I totally agree. But this strength must be in education, mental empowerment, confidence...not in hand-outs which in the long run benefit nobody. So can Najib or Hadi or somebody please say something intelligent?
Reader Billie Jean sent this explanation. ...
The public listed company require 25% of it shareholding be held by public. Najib new announcement want 50% of that "25%" to bumi investor, effectively 12.5% in total of public company shareholdings. Hence it would be improvement as compared to the existing 30% requirement.
Thank you, Billie Jean. Now why can't our Prime Minister be like you?