KUCHING: The Finance Ministry’s policy of forcing owners of freight forwarding companies to have 51 per cent Bumiputera ownership is not the way to help the Bumiputera, especially the natives of Sarawak and Sabah, and the Orang Asli.
Senator Robert Lau mentioned that this was an arbitrary act and a quick fix would not tackle the root cause, which does not help the B40 Bumiputera group.
“Those Bumiputera who can buy 51 per cent stake will not need assistance. How much capital is required by these lucky few Bumiputeras to pump in to acquire the 51 per cent stake?” he said in his debate on the motion of thanks for the Royal Address at the Dewan Rakyat on Tuesday (Oct 5).
He questioned the finance minister about how many forwarding companies would be affected; how much was the estimated value of the 51 per cent stake in all the affected companies; and how many B40 Bumiputeras and the natives of Sarawak would be able to own these 51 per cent shares based on the data from Inland Revenue Board.
“I’m certain that such opportunities never get to those on the ground floor, in the street, queuing up early in the morning just to open an account at BSN to receive the aid money.
“It will go to those Bumiputera that are well connected and are already rich. It will not benefit those B40 who work as food delivery riders.”
To put it crudely, he said the policy was an attempt to enrich a few, and it would also exacerbate the gap between the rich and the poor.
“This policy is not in line with “Malaysian Family” concept. It will not make a prosperous Malaysia; it will not make Malaysia more inclusive and it cannot ever be sustainable.”
