Only 40pct of companies are owned by Malays, other bumis - Hatta

PARLIAMENT | Forty percent of almost one million companies registered with the Companies Commission of Malaysia (CCM) are owned by Malay and other bumiputera entrepreneurs.

Announcing this during the parliamentary session today, Deputy Entrepreneur Development Minister Dr Mohd Hatta Md Ramli said this showed the involvement of Malays and other bumiputeras in entrepreneurship was still lacking.

He said among the factors accounting for the situation was over-dependence on government assistance in pursuing entrepreneurial endeavours, instead of relying on their own efforts, skills and initiative.

The minister was responding to a query from Ahmad Maslan (BN-Pontian) who wished to know why this group of Malaysians was less involved in enterprise and what efforts were being undertaken to address the matter.

Hatta added that other factors which had contributed to the current situation included the lack of training and skills, and the want of encouragement and interest in exploring new opportunities.

He explained that many government initiatives had been undertaken with the aim of producing more entrepreneurs among the Malay community and other bumiputeras, and these included the provision of training and outreach programmes aimed at instilling a culture of entrepreneurship, as well as advice and monetary assistance through agencies such as Tekun Nasional and SME Bank.

- Bernama