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I’m sure the public is well aware of statistics on income according to races as revealed in Mid Term review of 9th Malaysian Plan. Specifically the average income for Malays and Indians were listed as below:

• Bumiputera’s mean income
  increased by 5.2% to RM3,156 in 2007 from RM2,711 in 2004.
• Indians’ income rose 3.2% to RM3,799 from RM3.456

That means the Indians on average earned 20 percent more than the Bumiputras in 2007 (RM3,799 versus RM3,156). The acceleration rate is 5.2 percent for Bumiputra against 3.2% for Bumiputras. If this continues, its possible that in next 5 years, the Bumiputras will earn more than the Indians, on average.

I’ve always asking why the term Bumiputra (and not Malay) is used. What would the statistics be like?

Thanks to MP Charles Santiago’s question in the Parliament, we get more details as below. It makes me think why those fellows in MIC never asked for such details before in the last decade (at least to my knowledge).

The statement and tables below show that the Malays in Peninsular earned RM3,311 on average in 2007 while those in Sarawak Rm3,503 and Sabah RM3,089. That means it doesn’t a genius to know that actual poverty is among the real Bumiputras (averagebetween RM2,063 and RM2,857). Orang Asli in Peninsular Malaysia are the worst with income around RM1,397.

That means, in 2007 the Indians earn on average only 14 percent more than Malays in Peninsular Malaysia (Its a fairer comparison as most Indians live in the Peninsular). Given the benefits and privileges the Malays get, is it fair to say that Indians are doing better than Malays? Shouldn’t the non-privileged communities be given handicap?

Reply on Average Income Breakdown

Reply on Average Income Breakdown 2

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How in the world can an EXCO don’t know what is MIDA? Students learn in school itself. Worse still, this guy is the EXCO in charge of Industry Development in Perak. Like this means can close shop soon!

I label this under Crime!

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A bit of good news in that the ruling of needing to have 30 percent equity for those planning to list in Bursa Malaysia has been relaxed. The company must show proof that the allocation was not fully subscribed after two levels of offering exclusive to bumiputras. After that, it can be opened to general public (which of course include the bumiputras as well).

Companies seeking listing on Bursa Malaysia can now open their shares to the public if all efforts to get the 30% bumiputra equity participation fails.

Finance Minister Datuk Seri Najib Tun Razak said while the 30% bumiputra equity participation policy was being maintained, the shares could be offered to the public through the initial public offering (IPO) balloting process, should they not be fully subscribed.

“There is a change in the way it (the policy) is being implemented,” he told reporters after a briefing by the Securities Commission (SC) here yesterday.

“This is part of our efforts to make our capital markets more competitive.”

He said there would now be two tiers for bumiputras to acquire their 30% equity.

The first tier was through International Trade and Industry Ministry-approved bumiputra institutions and the second would be the bumiputra public.

If the 30% equity was still not taken up, it would be opened to others.

“In the event the allocation is not fully subscribed by the bumi public as well, then the company concerned would be deemed to have fulfilled the 30% bumiputra NDP (National Development Policy) requirement,” he said.

“So this takes out the element of uncertainty.”

When asked if this would jeopardise the bumiputra equity in the long run, Najib replied:

“I don’t think so. Actually, this will allow bumi individuals to participate as well.”

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