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Reveal bumi equity methodology
Published:  Nov 2, 2006 5:32 AM
Updated: Jan 29, 2008 10:21 AM

The government must realise that it is incumbent upon itself to do so because it owes the rakyat an explanation and not because it is doing the rakyat a favour, says a reader.

On Bumi equity hit NEP target 10 years ago

Lim Yiat Fong, Wanita MCA deputy secretary-general: I read with great interest the latest article regarding a university research paper by Dr M Fazilah Abdul Samad in 2002 which found that bumi equity ownership had achieved its target of 30 percent 10 years ago in 1997 when it hit 33.7%. It was also reported that the methodology used was also based on par value of KLSE companies

To my mind, the fact that the research paper was undertaken by a university academician has lend a lot of credence to the whole issue and debate about the status of bumiputera equity ownership under the NEP.

If what was reported is true (and Dr Fazilah's research was done way before Asli's findings), it certainly gives rise to a lot of negative speculations which is very unhealthy for the government. Noted the government has stated its preparedness to reveal the methodology used to compute its statistics after much adverse public comments on the issue, nevertheless the government must realise that it is incumbent upon itself to do so because it owes the rakyat an explanation and not because it is doing the rakyat a favour.

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