Thursday, November 07, 2013
We always read about equity ownership, and that the equity ownership of the Bumiputra has not reached the projected 30%.
Many wrongly believe that it is the non-Bumiputra Malaysians who own the remaining 70%. But this is not true, because the Malaysian government has been allowing more and more foreign equity ownership.
For example, if we were to look at the corporate equity ownership, in 2011, Bumiputra Malaysians owned 23.5%, and non-Bumiputra Malaysians owned 34.8%.
Well, that means the remaining 41.7% are owned by foreigners, making them the biggest group that own equity in the corporate sector.
That means corporate equity ownership of Malaysians is now 58.3%. (If we just look at the Bumiputra share of equity ownership amongst Malaysian, then it is 40.3%?) In fact, I believe that the foreign ownership may be even higher in 2013
Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar, as recorded in the Hansard of the Parliament on October 31, 2013, said: "... dari segi pemilikan ekuiti dalam sektor korporat. Bumiputera setakat tahun 2011 ialah 23.5% dan bukan bumiputera sebanyak 34.8%..."
I would be most interested in looking at the breakdown of equity ownership among the different ethnic groups - Malay, Chinese, Indian, Iban, Kadazan-Dusun, Melanau, Bidayuh, Sri Lankan Malaysians, etc., and how it has changed since Malaysia Day. Maybe looking at changes every 10 years until this day.
I would want to know whether Malaysia has a limit on foreign equity ownership.
Malaysians own a lot of equity overseas - is that factored in in the calculation of equity ownership?
I would want to know how much the different households (based on annual income) own this "equity".
Professionals: doctors, lawyers, engineers, accountants - what is the breakdown today in terms of the different ethnic groupings?
If the 30% for Bumiputra has been exceeded, maybe it is time to re-consider the manner in which scholarships and student loans are being awarded
Land ownership: In Parliament, they talked in terms of RM - let us talk in terms of acreage, in terms of agricultural land, housing land and commercial land.
House ownership: Let us be given figures about real ownership - not including people who are still paying off housing loans. (Now that Malaysian government do not ensure workers have regular employment until retirement, many just cannot pay their loans and loose their houses when their short-term contract ends)
Let us talk about types of houses - kampung houses, terrace houses, flats/apartments, semi-detached, bungalows (Let us not talk about RM value because that really will give a very different picture, as they cost different in different places, maybe talking in terms square feet/meters may be OK).
In the calculation of equity ownership, do you just look at individuals or do you include also those who "hide" as nominees, and also the many Bumiputra entities like Tabung Haji, trust funds... this really must be clarified..
At the end of the day, let us be honest that the non-achievement of the Bumiputra equity share is because of the failings of the government, especially the allowing of foreigners to own so much of equity and Malaysia.
The policy on ownership of Malaysia need to be really looked at again. I believe that it is Malaysian equity ownership that is shrinking - yes that includes the non-Bumiputra as well.
A few rich people owns things - let us not simply look at it from a purely ethnic perspective. Let us be honest and transparent... be 1Malaysia. - charleshector.blogspot.com, November 4, 2013.