Economy

‘New model needed to rev up Bumiputera economy’

KUALA LUMPUR: Nearly 64 years after attaining independence, Malaysia’s bumiputera agenda has yet to bear the desired results.

This is because poverty continues to haunt the biggest component of the nation’s population while bumiputera corporate equity ownership is still far below the government’s 30 percent target.

According to media reports, the incidence of poverty among the bumiputera stood at 7.2 percent as of 2019, compared with 1.4 percent (Chinese) and 4.8 percent (Indians).

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