COMMENT We refer to Economic Planning Unit's response to our two articles published in Malaysiakini Dec 3 and 4, 2014.

 

It is gratifying that there is no rebuttal from EPU against our main conclusion that the 30 percent bumiputera equity target has already been achieved.

 

EPU does not dispute the two major flaws in the government's existing methodology of computing equity ownership highlighted in our articles:

• Flaw no 1, par value was the basis of valuation of share capital; and

 

Flaw no 2, the exclusion of shares held by federal and state governments

We believe that is because our conclusion and findings were entirely based on government data available in the public domain and not on any new survey conducted by us. As the government cannot rubbish its own data, it cannot reject our findings...