Minimum 30 per cent Bumiputera equity requirement retained - Economy Ministry
KUALA LUMPUR: The minimum 30 per cent Bumiputera equity requirement remains in place in line with the Property Acquisition Guidelines (GPPH), which took effect on July 13, 2022, and is subject to approval by the Economy Ministry.
The Malaysian Economy Ministry has decided to retain the minimum 30 per cent Bumiputera equity requirement for strategic properties, as per the Property Acquisition Guidelines (GPPH) that came into effect on July 13, 2022. The government remains committed to supporting the Bumiputera economic empowerment agenda through higher participation and ownership in high-impact properties.
The proposed increase to 50 per cent for private companies involved in disposing of properties exceeding RM20 million is one such policy instrument to achieve this goal. The ministry's response to Lim Guan Eng's questions regarding the rationale behind the increase, transaction statistics, and the possibility of reverting to the previous 30 per cent equity requirement, comes after considering stakeholder views and reviewing the proposed implementation.
The government will enforce the new requirement through administrative measures, while continuously monitoring and assessing the effectiveness of the policies on property acquisition and disposal to ensure the Bumiputera economic empowerment agenda is met effectively.
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