Nov 7, 2006

Bumiputeras Own 36 Per Cent Share Value In Listed Companies

KUALA LUMPUR, Nov 7 (Bernama) -- Bumiputeras owned 36.6 per cent or RM78.4 billion in shareholding value in companies listed on the main board and second board of Bursa Malaysia up to Dec 31 last year.

Deputy Finance Minister Datuk Dr Awang Adek Hussin said shareholding by non-Bumiputeras stood at RM100.4 billion (46.9 per cent) while another RM55.2 billion (16.45 per cent) was held by foreigners.

Bumiputera share ownership based on the 912 companies listed on the main board and second board revealed that 539 (59 per cent) had less than 30 per cent.

There were 187 companies (20.5 per cent) with 30-50 per cent Bumiputera ownership and 186 companies (20.4 per cent) had more than 50 per cent Bumiputera ownership.

The deputy minister was replying to a question from Tengku Razaleigh Hamzah (BN-Gua Musang) who wanted to know the number of companies controlled by Malays and the shareholding value and number of companies listed on Bursa Malaysia and the share value.

Some 172,568 companies or 24 per cent of the 717,935 companies registered with the Companies Commission of Malaysia (CCM) were controlled by Bumiputeras, based on more than 50 per cent ownership by Malays.

Awang Adek also told Datuk Wan Junaidi Tuanku Jaafar (BN-Santubong) that the methodology used in calculating equity by the government was consistent with that of registered companies.

He added that several methods could be used in calculating equity based on the understanding of researchers but the government was confident its method was more comprehensive and was able to provide a true picture of the economy.

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