Awang Adek questions Asli study 
Malaysiakini
Oct  7, 2006

Deputy Finance Minister Dr Awang Adek Hussin yesterday joined the chorus of criticism against Asian Strategy and Leadership Institute (Asli) study on bumiputera corporate equity ownership.

In questioning Asli’s motive, he said Asli was reluctant to accept that Malay corporate equity ownership was still at 18 percent.

He believed that Asli was uncomfortable with the revised New Economic Policy (NEP) by the government with the goal of achieving 30 percent Malay corporate equity ownership.

“I see some are not easy with the policy meant to ensure 30 percent ownership of the country’s wealth by bumiputeras,” he said during a ‘buka puasa’ session at his home in Bachok.

He was commenting on Asli’s Centre for Public Policy Studies research entitled ‘Corporate Equity Distribution: Past Trends and Future Policy’, which concludes that the 30 percent target had been exceeded and should be reviewed.

The study was among four others that was part of Asli’s Ninth Malaysia Plan proposal that was submitted to the Prime Minister’s Department in February this year.

The study drew controversy when it was reported by malaysiakini and attracted a mixed responses.

Prime Minister Abdullah Ahmad Badawi however dismissed the findings as an inaccurate report and that government-linked companies (GLC) cannot be attributable as bumiputera-owned.

Attributing GLCs such as national utility Tenaga Nasional and telecommunications giant TM Bhd as bumiputera-owned were assumptions held by the study in arriving to its conclusion.

Sabotaging government

Awang Adek stressed that all parties should accept that the equity ownership target has yet to be met as the government had employed accurate and internationally accepted methodology in making its conclusion.

He added the government was adamant in pursuing the NEP even if it takes longer periods to stabilise the wealth disparity among the country’s races to build a strong country facing a globalised world.

He said if Asli’s findings were accepted, it could hamper the government’s wealth distribution efforts which were fair and did not marginalise any ethnic group.

The study can also sabotage the government’s goal of making Malaysia a model country to show how we could live peacefully and share wealth despite having a multi-racial society.