Polarised nation: Malaysian SMEs forced into racial silos
Many people might read this piece of news (the MCA having to step in to help non-bumi SMEs) as a positive development but I was personally quite saddened by it.Because of our so-called social contract, our business environment has been forced into racial silos where companies (and literally where and how they can do their business) are governed by their owners' racial origins.
Declare yourself a bumi company and the gates of government largesse open up to you (click here for this Treasury letter to all local government heads indicating that only local bumi manufacturers of street lamps should be used).
If not, then be prepared to surrender at least 30% of your equity should you decide to list on the local stock exchange or bring in a foreign partner.
Also, be prepared to be actively discriminated against if you are in strategic sectors such as oil & gas or have idiots spread nasty rumours that your food products will corrupt the faithful.
Sigh.
technorati: SMEs, malaysia, race
posted by hew @ 5:43 pm
0 Comments:
Post a Comment
<< Home