Bumiputera Ownership in Bursa Malaysia Companies Remains Low, Deputy PM Warns

Malaysia faces a significant challenge in increasing Bumiputera ownership within companies listed on Bursa Malaysia, with only 62 out of 945 firms meeting the majority ownership criteria in 2022. This stark figure underscores a substantial gap in achieving the objectives set by the Bumiputera Economic Transformation Plan 2035 (PuTERA35).

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Only 62 out of 945 companies listed on Bursa Malaysia as of 2022 have majority Bumiputera ownership, requiring this large gap to be addressed to achieve the Bumiputera Economic Transformation Plan 2035 (PuTERA35) targets.

Deputy Prime Minister Datuk Seri Dr. Ahmad Zahid Hamidi highlighted the disparity, noting that individual and mandated Bumiputera equity ownership stands at 18.4%, significantly below the 30% target for 2035. He also pointed out that Bumiputera enterprises contribute only 8.1% to the Gross Domestic Product (GDP), well short of the 15% goal.

Speaking at the Bumiputera Entrepreneurs Convention (KUB) 2035, Ahmad Zahid emphasized the need for a critical shift in strategy. He outlined three key transformations for the Bumiputera entrepreneurship ecosystem: unifying the ecosystem, moving from merely creating entrepreneurs to actively growing them, and ensuring national economic growth benefits local companies.

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Two years ago, through the Bumiputera Economic Congress 2024, we set a crucial shift: the Bumiputera Agenda must move with clear, measurable, and accountable targets.

He urged all ministries, agencies, financial institutions, and government-linked companies to collaborate within a more integrated framework. This integration is crucial for facilitating entrepreneurs' access to financing, training, and market opportunities. Ahmad Zahid warned that delays in implementing these changes risk not only failing to meet PuTERA35 targets but also relegating Malaysia to a follower status in future global wealth-generating sectors.

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But today, the gap is still significant. The contribution of Bumiputera enterprises to the Gross Domestic Product (GDP) is still around 8.1 percent, compared to the target of 15 percent by 2035.

The Deputy Prime Minister also stressed the urgent need for the effective implementation of the Bumiputera Empowerment Unit (UPB) across all ministries and state governments. He stated that this initiative, proposed and detailed previously, must be executed with genuine commitment to empower Bumiputera entrepreneurs.

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