The hottest news among the concerned Indians surely have to be the news that Indian equity DROPPED to 1.1% from previous 1.2%. This is a big blow to MIC, and if used properly, will spell the end of Samy Vellu and MIC. For all they claimed on stages and advertised in papers, what we ended up with is a drop in equity. When everyone else registered positive growth, ours went the opposite way. Even though the value of investment increased (by\/to?) RM575.2million or 9% within the period 2004-2006.
\nUnless there is proof that from 2006 to 2007, some sort mini miracle happened to improve the percentage…it will be a body blow for MIC.<\/p>\n
Yeah, equity may not be all, but as it is an indicator fondly used by other races, so I guess its fair that we too treat it as an important indicator.<\/p>\n
The non-privileged, normal Malaysians share increased from 40.6 percent in 2004 to 43.9
\npercent in 2006, meaning the Chinese community’s hold increased 3.3%, far more than the privileged and Indians communities.<\/p>\n
For non-bumiputeras, it increased from 40.6% in 2004 to 43.9% in 2006. Chinese ownership group saw an increase from 39.6% to 42.4%, while for Indians it showed a slight decline from 1.2% to 1.1%.<\/p>\n
However, there was a decline in foreign ownership from 32.5% to 30.1% while for nominees, it fell from 8.0% to 6.6%.<\/p>\n
Also, the contentious “privileged’ people equity is being put at 19.4% whereas alternative figures quote more than 45% (google for ASLI’s report on bumiputra equity), increasing from 18.9% in 2004. ?During the period, individual ownership increased<\/a> from 15.0% to 15.1% while for institutions, including Permodalan Nasional Bhd, it increased from 2.2% to 2.6%. The government’s target under the 9MP is to attain bumiputera equity ownership between 20% and 25% by 2010, which excludes government companies like Petroliam Nasional Bhd and Khazanah Nasional Bhd. The equity ownership is based on the par value of the shares and not on market capitalization.<\/p>\n