Thursday 13 November 2008

One small step for man ...

We're changing! I wouldn't believe it if you slapped me with the article, but there it is! The incumbent government is actually open to change! The recent cases of dissent and calls for equality have not been for nought. You, dear generation, you've helped create change. Bask in the revelry of your validation. It's a small step, but there it is. From Yahoo: Government relaxes 30 percent Bumiputra equity ownership for companies seeking listing:

KUALA LUMPUR, Nov 12 (Bernama) -- The government today relaxed the 30 percent bumiputera equity ownership for companies wanting to be listed but have yet to fullfill the quota.

Deputy Prime Minister Datuk Seri Najib Tun Razak said the relaxation, which would take effect immediately, was to ensure that the Malaysian capital investment market stay progressive and competitive.

"I wish to stress that the 30 percent Bumiputera equity participation at the point of listing will continue to be enforced. However, there will be a slight change in terms of the methodology," he told reporters after visting the Securities Commission (SC) here today.

"This means that more individual bumiputeras could apply for the shares concerned. If the shares offered to individual bumiputeras are still not fully subscribed, then the company concerned is deemed to have fullfilled the 30 percent bumiputera equity," he said.

Asked whether this move would jeopardise the 30 percent bumiputera equity, he said the action would allow other bumiputera individuals to participate and take up the public balloting.

"There are two tiers. After the two cuts, if the shares are still not taken up, it is only fair to allow the companies to be listed. Otherwise there will be a huge uncertainty for them," he said.

For those of you who don't agree with my sentiments, while I respect your right to an (educated) opinion, please refer to my Dear World entry.

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