Thursday, July 12, 2007

Racial Imbalance

When the government inplemented the New Economic Policy to integrate a balanced economy for all races in the country, it was meant to assist the bumiputera community.

But after more than 30 years of it being implemented, I guessed the NEP still lingers around and at times, overzealous gahmen officials at Ministry of International Trade and Industry can't differentiate what helps and what doesn't.

The Airfreight Forwarders Association of Malaysia has urged the gahmen to look at/review the following situations:-
* applicants for forwarding agent licenses to provide the racial composition of their employees
* to reveal the salary information of their employees according to race in the application forms
* new freight forwarders must have 51% bumiputera participation in terms of equity ownership as well as composition of its directors, senior managers and employees, unless exempted

I really suspect the call of a united Malaysia when even a gahmen department has such rulings. Most of the time, 30% bumiputera interest would have been sufficient but 51% ?????????
Correct me if I'm wrong, the gahmen wouldn't want any other races to have a majority say in any freight forwarding company in time to come. Why? By the way, if you are a foreigner, you are supposed to give away 30% interest with no compromise.

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