Govt to sell non-strategic GLC assets, priority for bumi buyers

 

The government plans to sell assets belonging to government-linked companies (GLCs) and government-linked investment companies (GILCs) which are deemed non-strategic.

The 12th Malaysian Plan (12MP) document revealed that the sale of such assets will give priority to bumiputera investors.

This is with regard to the 12MP's strategy to enhance the role of state-owned enterprises in becoming enablers for bumiputera equity ownership.

"Investment of GLCs and GLICs will be prioritised in the strategic sectors while participation in non-strategic sectors will be gradually reduced.

"The disposal of assets owned by the GLCs and GLICs in the non-strategic sectors will be coordinated in ensuring priority will be given to qualified bumiputera entrepreneurs and entities," the 12MP document states.

This comes on top of a plan to ensure that any sale of bumiputera-owned equities will remain in the hands of the bumiputera community. 

Enhance the bumiputera agenda

The 12MP document says GLCs and GLICs will be required to enhance the bumiputera agenda and ensure the sustainability of its corporate sector ownership.

"Programmes to facilitate more bumiputera companies to be listed will be expanded through improvements to the existing programmes," it says.

This includes strategic collaboration with foreign investors to help bumiputera firms become global players.

Furthermore, the 12MP adds, Permodalan Nasional Berhad will come up with more investment products similar to Amanah Saham Bumiputera, but with exposure to foreign markets. - Mkini