Bumiputera firms to gain
KHAZANAH Nasional Bhd and Permodalan Nasional Bhd (PNB) will divest 10 non-core businesses to qualified Bumiputera companies via open tender, Prime Minister Datuk Seri Najib Razak said yesterday.
He said these businesses would either be sold or outsourced in efforts to increase Bumiputera equity.
“This will be done through a process of open tender where potential Bumiputera companies will be invited (to take part) and the most qualified company will be chosen to own these companies,” he said after chairing the Bumiputera Agenda Action Council (MTAB) meeting at his office yesterday.
Khazanah is the investment holding arm of the government while PNB is the nation’s largest fund management company. Present were Deputy Prime Minister Tan Sri Muhyiddin Yassin, Home Minister Datuk Seri Hishammuddin Hussein and Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal.
Last year, the government revealed it had identified 33 companies under six governmentlinked investment companies which were ready for divestment. It was reported last month that government divestment in government-linked companies was expected to be in “high gear” this year. Yesterday, Najib said the council had also decided to include 50 more companies in the High-Performing Bumiputera Small-Medium Enterprises Unit (Teras), bringing the total under the programme to 80.
He said these 50 companies had undergone evaluations and have been earmarked for further improvements. The total revenue of these companies is RM5 billion. Najib said it was not necessary for these companies to be awarded government contracts, but efforts would be made to develop them in terms of management, technical and financial capabilities. “It is also to help these companies grow innovatively and improve business plans under Teraju.”
Teraju refers to Unit Peneraju Agenda Bumiputera, set up to increase Bumiputera participation in the economy. Najib also said the council decided to make SME Corp a partner to Teraju to develop Bumiputera
enterprises, 88 per cent of which are micro-entities.
Fund to help degree holders get professional certificates
Such companies, if aided even packaging wise, can help increase their turnover to reach greater heights.
Najib also announced that the Peneraju Bumiputera Foundation Fund, launched last year, would facilitate Bumiputera degree holders in obtaining their professional certificates in certain fields.
Citing accountancy as an example, he explained that the foundation would help upgrade their accreditation so they could become recognised professionals.
Najib said the council wanted to increase the funds to half a billion ringgit from the current RM158 million it has for this initiative.
"The fund is also aimed at those who wanted to but could not afford to further their studies at private higher-learning institutions.
"Maybe the foundation can help by topping up for high-achievers who came from poor or middle-class families."
Najib also announced the appointment of Raja Azura Raja Mahayuddin as the chief executive officer of the leading foundation for Bumiputera education, Yayasan Peneraju Pendidikan Bumiputera, from Feb 14.
Answering a question about the country's economy, Najib stressed that Malaysia was still resilient and on track to achieve growth of five to six per cent for last year.
"We are still monitoring the situation for this year, but there is enough momentum in the system. We will keep track (before) revising anything."
Raza Azura said the foundation would start planning initiatives and would look into areas that had yet to be explored by other foundations.
She said the RM500 million it was targeting would come from the private sector, although it had yet to decide in what shape the funds would come from.
Source : New Straits Times
Date : 10 February 2012
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