The Asian Strategy and Leadership Institute's Centre for Public Policy (CPPS) study on corporate equity ownership made an interesting conclusion that the bumi corporate equity has reached 45%. This is in direct contrast with the figure provided by the government of 18.9%.
I have not yet read the detailed study done by CPPS (I'm trying to get hold of a copy) but I must admit before reading the details, I'm a bit skeptical about the conclusion. In everyday life, I see that the average non-bumis are generally wealthier than the average bumis, so the question - how could this be? Who is right? [ Editor's note: A copy of the report can be downloaded from the CPPS website ].
Wouldn't anybody who has a little bit of curiosity want to find out the truth? The truth isn't going to come out if people view it with a racial slant. The non-bumis would, on one hand, be eager to extract statistics to justify that the corporate equity has reached 45% so they can demand the government stop the New Economic Policy (NEP).
On other hand, the bumis would be in denial of any kind of study that would jeopardise the continuation of the NEP. As a result, each group eyes the other with suspicion the motive for the study until, so much so, everyone is paralysed with inaction.
On the government's figures, it's difficult to get details as it is shrouded by the Official Secrets Act. But we can certainly examine the CPPS' figures. I'm sure CPPS' figures are not without basis or weight as the studies are done by people with high standings in society.
On the face of it, everyone has motives - including the ruling authority. Whether this CPPS group has motives or not, let us not pre-judge them before we read the findings. Seek for more details if the figures are vague. Ask for verification if the figures do not seem truthful. We can decide for ourselves to either accept or reject - or partially accept or reject - the findings after we have read them all.
But letting our racial slant prejudice our mind or to pre-judge the study is like tossing the truth out of the window before giving it a chance to learn from it. Indeed, the truth has an immense impact on both the average bumis and non-bumis alike. Why? What good is it to both the average bumis and non-bumis even when the bumis corporate equity reaches, say 65%, if it only benefits a small elite group of government-favoured bumis and not the average Malaysian?
If indeed the truth of bumi equity ownership is 18.9%, the non-bumis are obliged to help the average bumis to achieve 30%. If the truth is 45%, a mechanism must be put in place as soon as is practicable for the elite bumis to share their wealth with the average bumis so that every Malaysians can stop squabbling and face the global challenge together.
So what's wrong if there's a dialogue to seek out the truth as it can only benefit the average Joe? Only the perpetrator of untruths stand to gain by suppressing the truth. The truth shall set us free
