The BN government has been fair to all quarters in distributing the country's wealth resulting from the implementation of the National Transformation Programme, Prime Minister Najib Abdul Razak said.

He said the country's success in the economic sector had not only been enjoyed by Umno people, but also the opposition.

"For example, PAS and its allies had accused Felda of being bankrupt and some of them had even contemplated suing Felda, but when we give the windfall, they were the first to get in the queue," said Najib, who is also Umno president when winding up the debate at the 2012 Umno general assembly today.

Najib said this contradicted the norms in the opposition-led states.

"Whatever they do, they will identify the recipients first, if it's Umno people, they will not give," he said.

Bankruptcy laws too tight

    

Meanwhile, the prime minister also announced that the government would formulate new regulations related to bankruptcy as the existing laws were girded too tight.

"We will review the law and formulate new regulations and find the way to help those facing bankruptcy, but not all of them because some may have debts amounting to millions of ringgit," he said.

Najib said 120,000 Malaysian citizens had been declared bankrupt so far and these people did not even have the chance to bounce back.

"Sometimes, it is not their fault. Maybe they were just the guarantors and not the actual debtors, but they were the ones who suffered," he said.

Najib also announced that the Amanah Ikhtiar Malaysia (AIM) loans for petty traders, comprising mostly women, would be increased to RM100,000 from the current RM50,000.

"It is evident that they are good paymasters and dedicated businesswomen," he explained.

- Bernama