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NEWS UPDATES Asean Affairs     28-29 November  2011

Non-Bumi Firms also have chance to Acquire Non-core Assets

Non-Bumiputera companies still have the opportunity to acquire non-core assets divested by government-linked companies (GLCs) as the decision to pick the buyers is based on merit, said managing director of Khazanah Nasional Bhd, Tan Sri Azman Mokhtar.

He said although priority was given to Bumiputera companies, this did not mean that non-Bumiputeras were not given a chance.

"As announced by the Prime Minister, only reputable companies will be given the opportunity. This is to ensure the development of the Malay community and the Bumiputeras.

"This does not mean the non-Bumiputeras are not being given the opportunity.

"As an example, in the sale of a non-core asset, the winner might not be a Bumiputera company but a Bumiputera-non Bumiputera joint-venture company," he told a media briefing after the launch of the 'Bumiputera Economic Transformation: A Roadmap' document by Prime Minister Datuk Seri Najib Tun Razak here today.

The roadmap would be guided by six principles namely market-friendly, needs-based, merit-based, transparency, pro-growth and building sustainable competitiveness.

In his address, Najib said, the divestment of investment by GLCs in non-core sectors could create business opportunities for Bumiputera firms.

According to earlier press reports, over seven years until December 2011, Khazanah has undertaken 36 sales of non-core assets worth about RM24 billion, bringing in a profit of RM11.6 billion.

Meanwhile, managing director of Kumpulan Proton Holdings Bhd, Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir, said the roadmap placed great emphasis on the cooperation between the government and the private sector to work as a team to achieve satisfactory results.

He said Proton would continue its programme to boost the growth of Bumiputera vendors.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


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