Wahid: PuTERA35 Can Increase Bumi Companies Listed On Bursa Malaysia

August 19, 2024 – PUTRAJAYA: The Bumiputera Economic Transformation Plan 2035 (PuTERA35) can help increase the involvement of Bumiputera firms in public-listed companies on Bursa Malaysia.

Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said Bumiputera companies only represented seven per cent of public-listed companies as of 2022. The figure covers 62 companies out of 945 companies listed on Bursa Malaysia.

“With more equitable control and involvement in the national economy (through PuTERA35), it will provide equitable opportunities to the Bumiputera in business and also in the employment sector. “I think we will get many more Bumiputera companies listed in the future,” he said after the launch of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) today.

Wahid also said renewable energy and technology are among the areas that can be strengthened or improved by bumiputera companies apart from the oil and gas industry in Malaysia. If you look at previous data, equity ownership by Bumiputera in Malaysia is around 20 per cent. “We want Malaysia to be a prosperous, inclusive and sustainable country where no group is justify behind, including non-Bumiputera,” he said.

PuTERA35 which was launched by the Prime Minister today is supported by three cores, 12 growth drivers and 132 initiatives that are comprehensive, bold, far-sighted and more inclusive and is a big shift in bringing bumiputera development towards making Malaysia a regional economic leader.

Source: News Straits Times