looking for 30% bumi partner...seriously!

[tupai]

As any bored, tired, lazy, arm-chair-traveller pensioner who spend his tiwlight years watching the sun rises & sets, I set about looking at new bizz opportunity to inject some action into my hoohum life before i kick my bucket...so there I go looking left, rigth, centre, up & down for that elusive eldorado. Heck! I even listened to the recent umno speeches for possible hints/leads to make my million$.

And last month, in the middle of a hazy evening (watching the sun set of course), I saw a sign ...I did my research and indeed it could be a goldmine. My Eldorado!

Gleefully, I went to the relevant authorities to apply the necessary lesen ini, lesen itu (and what have you) and guess what? This takes the cake! the clerk/officer/pegawai kanan pen-pusher, 'nasihat' me that my goldmine of a business would need a 30% bumiputra equity

SO I said, what will happen if I cannot find a willing bumi partner to put in his cold hard cash equivalent to the 1/3 share? His answer? 'Macam tu, tak jalan lah"

Any bumi here with Rm30,000 CASH interested to be my operating partner (not sleeping partner as I will be THE sleeping/snoozing/dozing partner)

Oh, did I mention somewhere that my Eldorado is a nitch-kindergarten?Seriously!

Yang Amat Blur Sotong lato-tupai-sipping-martini (stirred not shaken)-watching-the-sunset-in-Krabi, Ko Lanta and some say Batam too.

p/s Any new bizz I can do without having to find a 30% bumi partner? what is happening to free enterprise driven by pensioner entrepreneur? how leh???? Maybe a bakuteh shop is a good start...no?

[birdy]

Alternate way is u come out wif the capital as original plan (ie. original u wanted to hold 100% equity).... then put a TRUSTED bumi friend name into your company as shareholder.... get all the licenses and grants... Then change ownership.

Hmmm...looking at this compulsory 30% bumi equity... I wonder why our PM recently FORCED to review the bumiputra shareholding to 18.9%? Is there some touch up done here?

[isarahim]

then put a TRUSTED bumi friend name into your company as shareholder....

The problem is that most trustworthy 'bumis' - at least the ones I know - would not take up those 30%. It would be against their faith to gain economical advantage through a race-based privilege. So the ones you get are likely to be the ones who are just pious on the surface.

[birdy]

The problem is that most trustworthy 'bumis' - at least the ones I know - would not take up those 30%. It would be against their faith to gain economical advantage through a race-based privilege. So the ones you get are likely to be the ones who are just pious on the surface.

Well... when I said TRUSTED.. it means a close friend of his...

[burntan]

I know a few kindergarten which is 100% owned by non-bumi and they are doing well. How come your one is so special?

I know few non-bumi businessman who do business in much larger scale than your planned one (100k?) without the need of 30% bumi share requirement.

[jack10dd]

Hi jus get a wiling partner , use the name , pls dun ask the tiga peratus , jus ask the name , maybe nego to him / her a lower cut if possible

because
#Tujuh puluh tiga pintu Tujuh puluh tiga jalan Yang sampai hanya satu jalan #

[birdy]

Don't let this drag u becoming millionaire.... just asked any bumi friend of yours for the willingness. Then give him 30% of the stake. Agree with him for certain fee monthly or annually, etc (u decide). Make him sign all the share transfer form back to you or to your family...(errr...if u need to transfer to me, please let me know.. Hehehe ).

Ask your company secretary to do all these as you may not have the expertise. If u need a good company secretary, just pm me...I can introduce u one, who can create magic for u.

After your business on track, got all the licenses, grants, etc..etc... immediately transfer the 30% shares back by executing the share transfer documents.

Hope these will give u some kick off.. start your engine, Lato' TUPAI..time to rumble.

[AllUrban]

how about a 'bumi' from another 'bumi' (e.g. Sarawak)?

Friend of mine, running a video production business...very successful....dunno if he has the money lying around tho...working hard to make his business successful.

Cheers, m

[pucman]

I thought only those multinational need to have 30% bumi equity.

100 K is not much and considered a small business.

[orchipalar]

Oh, did I mention somewhere that my Eldorado is a nitch-kindergarten?Seriously!

Yang Amat Blur Sotong lato-tupai-sipping-martini (stirred not shaken)-watching-the-sunset-in-Krabi, Ko Lanta and some say Batam too.

Err buddy...your friends in Thailand could advice you on how to obtain Malaysian bumiship in Thailand...a lot faster than doing it in the bumiland...

So you may end up having...100% owned bumiship kindy...to yourself.

[sinleong]

Alternate way is u come out wif the capital as original plan (ie. original u wanted to hold 100% equity).... then put a TRUSTED bumi friend name into your company as shareholder.... get all the licenses and grants... Then change ownership.

it's illegal to use a proxy

[chin_wan]

Alternate way is u come out wif the capital as original plan (ie. original u wanted to hold 100% equity).... then put a TRUSTED bumi friend name into your company as shareholder.... get all the licenses and grants... Then change ownership.

Why change ownership? Most bumi businessmen(women) I deal with are very capable and trustworthy. Everyone one of them hated it when these UMNO leaders try to use this issue to gain political advantage. It gives them (and love) a bad name.

[gtl]

it's illegal to use a proxy

that the way how business works in malaysia, so it is not ILLEGAL, it is just a way to circumvent the issue.

it is free money to the ZZZZZZZZZZZZZ partner.

we shd set up an Agency having profiles of various BUMI candidates which is willing to be "proxy" for a fee, we charge a commission very month. sure makes money...............

[tupai]

I thought only those multinational need to have 30% bumi equity.

100 K is not much and considered a small business.

precisely my point.
Now even if u mooted a gem of an eldorado bizz, the penpusher at the keluaran lesen level will 'nasihat' and indirectly arm-twist u into this 'cari 30% bumi partner' b4 lesen are given

NEP? concept velly goodlah...implimentasi? dia olang semua kasi skrew sama sendili lah

AHHHHHHHH!!!! there goes my eldorado niche bizz

i guess, its time to go back to ko lipe, ko peepee and ko tao for a bucket of nice chilled singha while watching the sun set...

Yang Amat Boozing, Beachbumming & Babe watching lato tupai

[birdy]

it's illegal to use a proxy

This is not illegal... it is just playing with the rules to the max. Since they imposed such restrictive ruling, we will play along with them.

Lato-Tupai...why give up so fast? If u don't want to take up that business... can u PM me details of it... see if I can find enough resources to do it. Opportunity strikes once... if u let go..somebody will grab it later....