Wednesday, July 1, 2009

Najib Does Away With 30% Bumi Equity Requirement

KUALA LUMPUR: The 30% bumiputra quota requirement for companies seeking to list on the Bursa Malaysia has been done away with under an overhaul of the Government’s economic policies.

In his most important announcement since taking office on April 3, Prime Minister Datuk Seri Najib Tun Razak said there was a need for a new economic model. Full story at The Star

Hahaha, something good has come out of the recession! Government is hard up for investment and this is a hard pill to swallow. Time to wake up for the leeches getting money for nothing! This also means that companies already listed need not maintain 30% bumiputra equity as required previously, it's time to prune away the deadwood.

KUALA LUMPUR: Tun Dr Mahathir Mohamed blamed the filth available over the internet and drug addiction as a potent crime-boosting formula, saying the easy access by teenagers to pornography over the Net is a dangerous trend.
To questions on emphasis on the use of the English language, Mahathir said the scenario in countries like Japan, Germany and France was different from that in Malaysia.

You had 22 years and now please just shut up. Whatever you wish to say will go down well with the Taliban (and the simpletons in kampungs) but please don't insult our intelligence. RM54 billion worth of Bumi shares given out not to mention the unknown contracts, tenders related to these public listings.

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