Remove one FIC Crutch, Set up Mechanised Ekuinas Wheelchair

Why LIE-dis and LIE-dat?

1Malaysia seems on track to implementing his 1Malaysia's policy with his latest bold revelation of repealing the Foreign Investment Committee (FIC) guidelines which among others was a 30% bumiputra equity requirement for listing on the stock exchange.

"After 19 years, the FIC has failed to achieve its objective of increasing bumiputra equity to 30%," he said… Sun 'Freer economy." Jul 1 2009 p. 1.

But given that there is never a free lunch in BolehLand as far as not contravening the Constitution provisions of 'rights', companies are still required to offer half of the public shareholding spread to bumiputra investors, which is 50% of the 25% pubic spread requirement.

"The bumiputra equity condition therefore, becomes subsumed within the public spread requirement." Which means the other communities gets a lesser opportunity? But if even with the 30% equity, there didn't seem much enthusiasm so it will be left to be seen if even the 50% will get a full 100% take-up. But if 1Malaysia

So it seems too true to be true that 1Malaysia made a bold revolutionary move to remove this FIC crutch to enable the bumiputra to compete.

And before the bumiputra can raise their crutches to protest taking away what is 'rightfully theirs' as decreed in the Constitution, 1Malaysia substituted the crutch by announcing the setting up of Ekuiti Nasional Berhad (Ekuinas), "a new investment institution, is seen as a move by the government to fund bumiputra companies which are genuinely capable… Ekuinas will be provided an initial endowment of RM500 million by the government and the scale will be eventually raised to become a RM10 billion fund."… Ibid, p. 1

So 1Malaysia is eliminating 'sleeping partners' overnight from one bed and putting these sleeping partners now in bed with their own kind.

READ MORE HERE: http://jonathan66-my.blogspot.com/