omong

what Malaysian public figures say and don’t say in the press

Archive for September 4th, 2007

Racial Fairness Urged in Malaysia

Posted by omong on September 4, 2007

Corporate chiefs from Malaysia’s ethnic Chinese minority made a rare plea for racial fairness Monday, urging the government to ensure its economic policies benefit every ethnic community and not just the majority Malays.

The call by Malaysia’s main ethnic Chinese trade coalition, which represents 28,000 businesses, touches on one of this multiracial country’s most sensitive subjects – affirmative action programs geared at helping the ethnic Malay majority catch up with the more prosperous Chinese by allowing them advantages in education, housing, bank loans, government jobs and contracts.

“We must also allow other races to have opportunities to perform,” said William Cheng, president of The Associated Chinese Chambers of Commerce and Industry of Malaysia, or ACCCIM.

Minority Chinese and Indians have occasionally called for such policies to be reviewed. But Malay leaders, who hold political power, have repeatedly defended the decades-old privileges as necessary to curb Malay poverty and warned minorities not to question them, insisting that too much public debate could hurt stability.

We don’t (oppose) the government helping the poor, but when (the poor can) stand up already, then we must let them freely compete,” Cheng told a news conference.

Many analysts say that the objective of the affirmative action policy has already been met and that the Malays hold a substantial amount of national wealth. The government denies that with both sides providing conflicting statistics to make their case.

Source: Forbes

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NEP in Malaysia

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MIC’s Maika to liquidate assets, hopes to return MYR 1 for MYR 1

Posted by omong on September 4, 2007

Maika Holdings Bhd, the embattled company set up by MIC president Datuk Seri S Samy Vellu to assist the Indian community, will liquidate all its remaining assets within the next three to four months, said its chief executive officer (CEO) S Vell Paari, who is also Samy Vellu’s son.

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“We are hoping to give back one-to-one because they (the shareholders) invested a RM1 (per share). We plan to buy the mother shares for RM1 (per share) and we have given 25 million in bonus shares, which will also be bought back at RM1 (per share),” Vell Paari told reporters after the AGM.

Source: The Edge

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