KUALA LUMPUR: The participation of Bumiputera companies in Bursa Malaysia Securities Bhd should be stepped up in order to ensure their competitive edge internationally.
“We hope Bumiputera companies will actively take part in the stock market not only to increase their capitalisation but also grab opportunities to expand abroad,” Deputy Finance Minister Datuk Ahmad Maslan told reporters after visiting the local bourse yesterday.
“If they are listed companies, they would be viewed as competent, transparent and capable companies, factors which are necessary for a listed company,” he said.
Ahmad Maslan said out of the 914 companies listed on the stock exchange, a majority of them were non-Bumiputera companies.
The deputy minister also said there were many Bumiputeras who lacked sufficient knowledge on Bursa Malaysia’s activities,” he said.
As such, more exposure and knowledge should be disseminated on the workings of the stock exchange among public and private institutions of higher learning.
“Bumiputera equity participation is still around 20 per cent and has yet to reach the government’s target of 30 per cent,” Ahmad said.
As such, Bumiputera involvement must be stepped up and efforts must be doubled to reach the set target as soon as possible.
“Thirty per cent is not much but if that level is achieved, it is a major achievement for us,” he added. — Bernama