High Glc Glic Involvement Deters Bumis From Entrepreneurship Says Economist


 
Bursa Malaysia chairman Abdul Wahid Omar recently announced that only one out of 97 listed companies in the last three years has been Bumiputera-owned.PETALING JAYA: Competent Bumiputeras do not pursue their own businesses due to the high involvement of government-linked companies (GLCs) and government-linked investment companies (GLICs), according to an economist.
Niaz Asadullah, a professor at Monash University, said GLCs and GLICs had played a key role in providing preferential job opportunities through the New Economic Policy, steering elite Bumiputeras towards careers in the public or pseudo-public sectors.
“When you have a shadow sector (of GLCs and GLICs) that gives you (less competitive) C-level jobs based on ethnicity, why do it the hard way and get into market competition?” he said to FMT.
Niaz, the Southeast Asia lead of the Global Labor Organization, said attributing Malaysia’s economic flaws to the divide between Bumiputeras and non-Bumiputeras oversimplified the “imbalance problem”, which had seen financial power concentrated in Bursa Malaysia-listed companies.
Play“Not acknowledging and scrutinising the ‘GLC factor’ muddles the ongoing discussion on the Bumiputera empowerment agenda and the role of public sector policies,” he said.
Niaz said Bumiputera businesses were numerically under-represented in the corporate sector due to a general lack of risk-taking among non-elite Bumiputeras, adding that as a result, they did not scale.
Niaz Asadullah.He urged the government to invest more in quality education and curricular reforms to shift Bumiputera mindsets towards pursuing more scalable businesses, outside the safety net of careers in the public or GLC sectors.
“Corporate success in an outward-oriented and foreign direct investment-led economy like Malaysia is not just a matter of access to finance.
“It requires openness to competition, collaboration with different cultures, and a risk-taking mindset,” he said.
Bursa chairman Abdul Wahid Omar had announced during the seventh Bumiputera economic congress that only one out of 97 listed companies in the last three years had been Bumiputera-owned.
The former economic planning minister said this was a reflection of the Bumiputeras’ participation in the business sector, and called for an Equitable Opportunity Act to ensure that all citizens are given a fair shot at jobs and business opportunities.
Economist Geoffrey Williams of the Malaysia University of Science and Technology said a reliance on government policy and Bumiputera companies’ avoidance of stock markets for financing growth had also contributed to the low representation of Bumiputera-owned companies listed on Bursa.
He agreed that an Equitable Opportunity Act would be a good move if it ensured fair access to opportunities for all ethnic groups, but said similar policies had failed for the past 50 years.
“It’s better to deregulate and open up markets, letting Bumiputera-owned companies stand on their own two feet. They are more than capable of this,” he said. - FMT


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2024/03/high-glc-glic-involvement-deters-bumis.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
High Epf Returns Could Woo Non Contributors Says Economist

High Epf Returns Could Woo Non Contributors Says Economist

papar berkaitan - pada 7/3/2024 - jumlah : 206 hits
EPF recently announced a dividend rate of 5 5 for conventional savings and 5 4 for shariah accounts higher than the 5 35 and 4 75 respectively in 2022 PETALING JAYA An economist believes that some of the 40 of the workforce not covered by E...
Feasibility Study Needed For Glc To Regulate Ree Industry Says Minister

Feasibility Study Needed For Glc To Regulate Ree Industry Says Minister

papar berkaitan - pada 12/3/2024 - jumlah : 226 hits
Julau MP Larry Sng had suggested the government consider establishing a GLC to regulate the REE industry PETALING JAYA A feasibility study is needed before establishing a GLC to regulate and explore the rare earth elements sector in Malaysi...
Ringgit Kukuh Hasil Usaha Sama Bnm Glc Dan Glic Kata Menteri

Ringgit Kukuh Hasil Usaha Sama Bnm Glc Dan Glic Kata Menteri

papar berkaitan - pada 11/3/2024 - jumlah : 264 hits
Menteri Kewangan II Amir Hamzah Azizan berkata Setakat 8 Mac nilai ringgit berada pada tahap lebih baik pada RM4 68 ringgit berbanding dolar Amerika KUALA LUMPUR Usaha kerajaan melalui Bank Negara secara kerjasama dengan syarikat berkaitan ...
Pas Info Chief Distances Party From Hadi S Remarks Igp Says Investigation Launched

Pas Info Chief Distances Party From Hadi S Remarks Igp Says Investigation Launched

papar berkaitan - pada 3/3/2024 - jumlah : 216 hits
PAS president Tan Sri Abdul Hadi Awang s claims about Islam s position in Malaysia that drew direct reprimand from the Sultan of Selangor is not representative of the Islamist party s views its information chief said Local daily Sinar Haria...
Ensure Crooks Do Not Gain From Repatriation Programme Says Activist

Ensure Crooks Do Not Gain From Repatriation Programme Says Activist

papar berkaitan - pada 3/3/2024 - jumlah : 194 hits
Undocumented foreign workers may return home without facing legal action under the migrant repatriation programme from March 1 until Dec 31 PETALING JAYA Migrant labour rights activist Andy Hall has expressed concern over the government s a...
Exempt Physio Psychology Services From Sst Says Mp

Exempt Physio Psychology Services From Sst Says Mp

papar berkaitan - pada 4/3/2024 - jumlah : 194 hits
Backbencher Cha Kee Chin says he understands the health ministry is waiting for finance ministry approval for 23 practice categories to be exempted from SST KUALA LUMPUR A backbencher has called on Putrajaya to exempt 23 practice categories...
Politicising Tax Hike Affects Consumer Investor Confidence Says Economist

Politicising Tax Hike Affects Consumer Investor Confidence Says Economist

papar berkaitan - pada 6/3/2024 - jumlah : 125 hits
Economist Yeah Kim Leng said although the service tax hike would affect all consumers it would help to finance social assistance programmes for poorer Malaysians PETALING JAYA An economist has warned against politicising the 2 hike in servi...
Sarawak Needs Conducive Environment To Sustain Growth Says Economist

Sarawak Needs Conducive Environment To Sustain Growth Says Economist

papar berkaitan - pada 28/2/2024 - jumlah : 158 hits
Two economists say Sarawak is going in the right direction to be the nation s leading state PETALING JAYA Sarawak must establish a conducive environment to support economic expansion and growth to become the strongest Malaysian state for th...
Tax Revenue From Cigarettes Only 0 05 Of Labuan S Collection Says Anwar

Tax Revenue From Cigarettes Only 0 05 Of Labuan S Collection Says Anwar

papar berkaitan - pada 7/3/2024 - jumlah : 182 hits
Prime Minister Anwar Ibrahim said cigarettes and tobacco products were taxed to curb revenue loss from illegal trade especially by those exploiting Labuan s duty free status PETALING JAYA Labuan is not solely reliant on the sale of cigarett...
Anwar Slams Hypocritical Criticism Over His Response To Najib S Apology

A Sucker Punch For Rm1 000 What S The Value Of Dignity In Malaysia

Makan Malam Tiga Beranak Di Adam Kitchen

Rakyat Malaysia Jadi Tentera Upahan Di Ukraine Dipercayai Masih Hidup Kpn

Tan Sri Vincent Tan Dan U Mobile

Empat Sekawan Dipenjara Tiga Tahun Culik Budak Perempuan

Pengalaman Anak Kena Prolonged Jaundice

Keluar Sekejap Kerugian Fashionvalet Kartel Nafas Rangkaian Kedua 5g Buli Upnm


echo '';
Biodata Terkini Penyanyi Illa Sabry Peserta Gegar Vaganza 2024 Musim 11 GV11

Info Dan Sinopsis Drama Berepisod Senyawa iQIYI Malaysia

Info Dan Sinopsis Drama Berepisod Project Projek Exit Astro Originals

Pelajari Asal Usul Nama Makhluk Seram Kisah Fiksyen Barat Yang Terkenal

10 Fakta Filem Kahar Kapla High Council Yang Ramai Tak Tahu Prekuel Drama Project Projek High Council


Tv Samsung Rosak Tamat Tempoh Hayat

30 Lagu Bakal Berentap Dalam Muzik Muzik 39 Separuh Akhir Siapa Akan Mara Ke Ajl 39

Celebrity Legs And Feet In Tights Variety Pack 143

Cucur Sayur

Kedah Jheaik Siasat Tok Kadi Buli Pengantin

Seorang Wanita Tergamak Penggal Kepala 2 Anak