FIRST STRATEGY: ENHANCING THE NATION’S COMPETITIVENESS100% - 30% = 70% = foreign ownership
29. To encourage the development of the fund management industry, the following measures will be implemented:
First: Foreign ownership on fund management companies and REITs management companies will be allowed up to 70%. The minimum Bumiputera ownership requirement will remain at 30%;
Second: The SC will facilitate the licensing process as well as all dealings with other Government agencies to expedite the approval process for the establishment of fund management businesses in Malaysia.
IF the foreign investors are willing to come in, Lulu's sure they'd only give up their minimum Where does that leave the 50%, or whatever the number is, to the expansion of this pie?
And the other sad thing is that the 30% would go to the same few people who are already so disgustingly rich.
so much for Najib's hope to see Independant Bumiputeras