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View Full Version : Najib slashes Bumi's Equity, but .....



silver_bird
30-06-2009, 12:19 PM
On one hand Najib dropped the 30 per cent Bumi equity requirement for Malaysian firms seeking public listing, but they will now have to offer 50 % of the public shareholding spread to Bumi investors.

http://www.themalaysianinsider.com/index.php/malaysia/30946-najib-slashes-bumiputera-equity-quotas-fic-role

Hmmm ...., 30% Vs 50%
What's the different ?
1 Malaysia !!!

Sentinel
30-06-2009, 01:18 PM
You just might have interpreted it wrongly.

The previous required 30% Bumi entity is now lumped into the 50% public spread, I think its a slight loosening of the policy. That is what my lawyer friend explained over lunch. I stand corrected.

birdy
30-06-2009, 01:22 PM
In my view, the first one is requirement whilst the latter one is an offer, which will be a bit laxing.

rakyat
30-06-2009, 01:50 PM
The former was micro while the latter is macro i.e. former 30% shares to be held by 1 or few Bumi Directors b/4 listing, latter 50% shares offered to bumi public for subscription during IPO

This approach will benefit more ppl (with smaller shareholding) then the selected few (w. majority shares)

This is oso another way of preventing bail-out of major shareholders who gets straddle with o/s bank loans during market softening

firefox
30-06-2009, 03:02 PM
Dont get misled by all this sheer talk only, vote wisely at the next GE13

Raikonen
30-06-2009, 03:42 PM
Why the ginger steps la? Drop all the 30%, 50% requirement ect altogether...and while we are at it, all those born in malaysia should be bumiputras irregardless of race, sex...

rakyat
30-06-2009, 05:05 PM
Why the ginger steps la? Drop all the 30%, 50% requirement ect altogether...and while we are at it, all those born in malaysia should be bumiputras irregardless of race, sex...

Hmm... When this happens you will suddenly get an large influx of Aussies, Cunacks, Yankees and English coming back to reapply for M'sian citizenship. Will this materialise? Not when BN is around

bugbear
30-06-2009, 05:07 PM
Why the ginger steps la? Drop all the 30%, 50% requirement ect altogether...and while we are at it, all those born in malaysia should be bumiputras irregardless of race, sex...
You know with all the recent baby steps by our premier in trying his best to liberalise the quota...wouldn't it make sense if they just review NEP as a whole since NEP is the biggest stumbling block there is? :confused:

Better still, just abolish that damn thing. :mad:

AaronOng
30-06-2009, 05:20 PM
I'd be darned if I let him pull wool over my eyes!!

AaronOng
30-06-2009, 05:34 PM
You know with all the recent baby steps by our premier in trying his best to liberalise the quota...wouldn't it make sense if they just review NEP as a whole since NEP is the biggest stumbling block there is? :confused:

Better still, just abolish that damn thing. :mad:

Don't think the Umnoracistputras will. Its not called the Never Ending Policy for nothing!

Just the other day I visit a unit of a GLC. Interested in what I have to offer they asked me to "register" on line as a supplier first, otherwise they will not be able to pay me for my services.

I was skeptical... due to past experiences.

So I went through the "registrations" process and I was right. In the on-line form they asked about bumi this and bumi that. How many bumi partners I have. How many bumi employees I have etc etc, and I have to tick whether my company is bumi/non-bumi. As if that is all that mattered. Business from this company would be great, but thanks but no thanks for the racism and racist questions.

I remain unregistered with them.

I honestly do not know the definition of "bumiputra" vis-a-vis "Melayu". Is the word itself defined in the constitution? It's English translation i is "sons of the soil", i.e. those born in this country. Am I not born in this country? Does or doesn't that make me one, assuming I want to be one?

silver_bird
30-06-2009, 06:32 PM
Sorry to hear that.
They are unfortunately classified as " Mid****t soil.
Damned with the gomen !!!

pucman
30-06-2009, 07:03 PM
You just might have interpreted it wrongly.

The previous required 30% Bumi entity is now lumped into the 50% public spread, I think its a slight loosening of the policy. That is what my lawyer friend explained over lunch. I stand corrected.

Sorry, I still don't understand what is this 30% spread into 50%.

I don't study business admin. Can anybody explain in layman term and in simple english ?

Fang Su
30-06-2009, 07:27 PM
I'd be darned if I let him pull wool over my eyes!!

Give the PM a chance. This is just like in an organization when the new CEO starts a new management philosophy and practice and an hour after his speech, all the employees start doubting him. It is called the Pygmalion Syndrome. We will the leader and organization to fail and forgetting that when the organization fails, we, the employees would also be affected.

AaronOng
30-06-2009, 08:06 PM
Give the PM a chance. This is just like in an organization when the new CEO starts a new management philosophy and practice and an hour after his speech, all the employees start doubting him. It is called the Pygmalion Syndrome. We will the leader and organization to fail and forgetting that when the organization fails, we, the employees would also be affected.



Give the PM a chance, you say? Well the last time he had HALF a chance (and he was yet the PM), an entire state was taken over by gangsters under him. Perhaps you forgot.
http://www.youtube.com/watch?v=eRhI57xICRc

Give him a chance you say...? Well you can do whatever with your vote but I'm not gonna spoil mine. No offense.

Fang Su
30-06-2009, 08:17 PM
Give the PM a chance, you say? Well the last time he had HALF a chance (and he was yet the PM), an entire state was taken over by gangsters under him.

Give him a chance you say...? Well you can do whatever with your vote but I'm not gonna spoil mine. No offense.

No offence taken at all. You need to calm down. I am apolitical. All politicians (and human beings) are self-serving. There are no angels and demons. I want the PM to succeed in his economic and financial 'reforms' so that the country gains and thus I am prepared to see how this is going instead of closing off my mind before it even begins.

AaronOng
30-06-2009, 08:31 PM
Thank you. I am calm. It's just that I cannot afford to be apolitical, that's all. Like you I would like my, repeat, MY country to progress and that daily life does not have to be divided into bumi/nonbumi nonsense.

We have to start somewhere and for a start I simply refuse to entertain questions on race (and even religion) in application forms. Hence my posting above. The race section in my credit card and insurance application form was crossed off and replaced with "Malaysian". And whaddya know, it's approved.

Sentinel
30-06-2009, 09:18 PM
We just have to ensure we vote wisely the next round, thats all. I am confident a two-party political system will do wonders for Malaysia. Just give it a chance, the check and balance will come.

Raikonen
30-06-2009, 09:31 PM
Thw way i see it...this BN party will continue to take 1 step forward and then 2 steps backwards...when the GE13 is nearing then only will start putting out more goodies....by that time is oledi too late...I hope to see Najib as opposition leader come 2013 :D

CS Chua
30-06-2009, 10:46 PM
Sorry, I still don't understand what is this 30% spread into 50%.

I don't study business admin. Can anybody explain in layman term and in simple english ?
Here is my layman understanding.

When a company wish to be public listed, he has to designate 30% of the company's shares to Bumi investors. I think it is MITI that allocates the shares to the Bumi if the original share holders do not have Bumi partners. Quite often, these 30% are allocated to certain entities and individuals.Thus, if the original share owners hold 40% and allocate 30% for Bumiputras, the balance of 30% is for public balloting. Even these 30% are again divided between Bumi and non-Bumi.

The new regulation does away with the private 30% allocation but increase the Bumi public balloting to 50%.

The result is, more Bumi people benefit rather than certain individuals and entities. And if the Bumi public sells their shares later on, there is nothing to stop the non-Bumi from buying it. Moreover the public spread is larger now which is good for the market as the company is less likely to be manipulated. Overall, it is a positive move for the economy and the share market.

silver_bird
30-06-2009, 10:46 PM
He sings to two different audience with two different set of lyrics.
1st lyric - We'll pull back our crutches
2nd lyric - Crutches are useless. So we'll provide you with motorised wheel-chair

tsd
30-06-2009, 11:42 PM
Here is my layman understanding.

When a company wish to be public listed, he has to designate 30% of the company's shares to Bumi investors. I think it is MITI that allocates the shares to the Bumi if the original share holders do not have Bumi partners. Quite often, these 30% are allocated to certain entities and individuals.Thus, if the original share owners hold 40% and allocate 30% for Bumiputras, the balance of 30% is for public balloting. Even these 30% are again divided between Bumi and non-Bumi.

The new regulation does away with the private 30% allocation but increase the Bumi public balloting to 50%.

The result is, more Bumi people benefit rather than certain individuals and entities. And if the Bumi public sells their shares later on, there is nothing to stop the non-Bumi from buying it. Moreover the public spread is larger now which is good for the market as the company is less likely to be manipulated. Overall, it is a positive move for the economy and the share market.

what will happen if the bumi allocation of 50% is not taken up ?

kwchang
01-07-2009, 12:24 AM
You people forget that Arus Politik does not exist in this Forum. Please have fun at PYWong's Forum ... why, you political commentators don't like it there ah?