Reintroducing bumiputra shareholding quota will cause further drops in share market, says MCA

  • 📰 staronline
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

PETALING JAYA: Any move by the Pakatan Harapan government to reinstate the 30% bumiputra shareholding quota in listed companies will cause further drops in the local share market, says Datuk Seri Dr Wee Ka Siong.

The MCA president said that such policies, if introduced, could accelerate outflows from foreign investors because new stock market listings in the country are at an all time low.

According to Dr Wee, the issue of uneven distribution of wealth and income is not between different races, but within each racial group. “It couldn’t work when we were not yet deeply integrated into the world economy when it was implemented 40 years ago, how it is going to work when our economy is already so deeply open and linked to the world now?” he questioned.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If you r smart why mca lost all the seats.

Endless shit🤮🤮🤮

Wah your comment will not be welcomed by UMNO PAS leaders, members & supporters. MCA already a newly convert Taliban. How come dare to go against Bumiputra privileges. Wee KS not worried Ayer Hitam Malay voters won't give him their vote?

Another reliving of DrM's past moves. Only diff 2day is that it is 'strongly' supported by DAP.

Bumiputra share quota once made cronies wealthy n rich. Innocent malays work so hard but get only crumbs.

Why suddenly so concerned la Wee? Where was ur concern before this ?

Suddenly? This has been a long standing policy under BN and supposedly nurtured many UMNO millionaires yet suddenly it'll undermine the markets? Not so nice when the shoe is on the other foot huh?

Why Rafidah Aziz comes to mind immediately weekasiongmp

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines