Saturday, September 08, 2007

Lulu's Reading The Budget (1)

FIRST STRATEGY: ENHANCING THE NATION’S COMPETITIVENESS
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%;
and
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.
100% - 30% = 70% = foreign ownership
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
sigh...

2 comments:

carboncopy said...

I am confused with what Badawi is trying to do here.

I was told Badawi wants the angmohs to let go of their shares in Digi. Or reduced their stake.

Now they say they can hold up to 70% stake.

Upon closer look; its only on fund management companies and REITs management companies.

Did Badawi says fair budget? Hmm..

mob1900 said...

Competitiveness?
Where?