Former deputy minister of international trade and industry Ong Kian Ming says enforcing the 51% Bumiputera equity requirement on locally owned, non-listed freight forwarding companies, will bring many unintended negative consequences. – The Malaysian Insight pic by Afif Abd Halim, September 25, 2021.
THE government and stakeholders in the logistics services need to have a proper discussion on the 51% Bumiputera equity ruling, which will negatively affect jobs, port operations, competitiveness and investments, former deputy minister Ong Kian Ming said. The ruling imposed on locally owned, non-listed freight forwarding companies, which although postponed until 2022, will not solve these problems in the long run, the Bangi MP said.
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Why go for 51%? Just nationalise all the non bumi companies, MNCs listed public companies etc etc...
They come up with the 51% paid up capital first ok
Very misleading. Where is this ruling of 51 percent bumi equity for logistics companies. Its only for customs broking scope for goodness sake! Don't mislead.
Looking back to the past, who benefited from this? maybe just a handful of cronies.