Is NEP a success in Malaysia? After 36 years of NEP, Malaysia has reportedly less than 20% Malays equity ownership. The Chinese, Indians and others still hold 80% of the equity. Chinese are still the major equity owners in Malaysia. In other words, the wealth of the country is in the hands of the Chinese. If all the Chinese migrated to other countries such as Australia, NZ, USA, Canada, then the economy will be weakened to an extent of a poverty state..
It is a known fact that Malaysian government practises racial discrimination. The term like "Bumi" means "Native" or "Malays" is used to differentiate with other races which are deemed as non-privilege class. Only Bumi has first place in universities, medical profession, government departments and whatever government authorities.
The rich Bumi still get richer from the NEP while the poor remains poor. The leaders geared for unity and harmony in Malaysia but marginalisation and unequal treatment of races still prevail. The formula for racial unity has been proven to work in Malaysia but the NEP is a proven failure after 36 long years.
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Thursday, January 04, 2007
NEP: An Article by Colin Nathan
Firstly, Colin Nathan is probably going to get booed off stage because he's not malay and he shouldn't be questioning the rights of the bumiputeras. But come on, who do you think paid for all these? Below is an analysis on how NEP sustained itself via different routes and privileges set for a certain group of "under privilege people".
I was completely disillusioned Monday night watching PM Badawi's threats to Datuk Seri Lim Keng Yaik not to "kacau" or face the "consequences" is serious.
Keng Yaik questioned why after 36 years, Bumi equity ownership was still 18.9%. (It was 20% in 1990) Clearly stating that he accepted the figure, he merely wanted to know the methodology used to arrive at the figure.
Badawi's reaction is blatantly dishonest. In 2004, Morgan Stanley issued a report that estimated that over 100Billion US Dollars (360 Billion Ringgit) had been lost to Malay patronage in the 20 years preceding 2003. (1984 to 2003)
One economist estimates that in the 36 years of it's existence, the NEP has been used to channel over ONE TRILLION RINGGIT to the Malay community through ASN, ASB and all related Govt policies.
Since 1970, the Govt has used the NEP to covet education, employment and every other conceivable benefit to the Malays. These measures have largely been successful with all the top posts in GLCs, Government, Universities, Public listed companies and practically every single area that the Govt has any control over being reserved for one race. No company may be listed with a lower than 30% Bumi equity but there is absolutely no problem if it is otherwise. Some industries have a mandatory 51% Bumi ownership and some industries are reserved exclusively for them. Petronas for example only employs and awards contracts to Malays.
ALL Govt and Municipal contracts are reserved to class "F" Bumi contractors. All the proposed projects under the 9th Malaysia Plan thus far are reserved for 100% Bumi owned companies. Even open tender projects are awarded to Malays even if their prices are higher with inferior materials. Micro business loans, business licenses, discounts on property purchases, new Govt employment, EVEN LICENSES FOR HAWKER STALLS are reserved for one race. The list goes on and on but the summary is that the Malay now believes undoubtedly that he is racially privileged.
ASLI's figures of 45% are opposed to the Govt's 18.9% because, firstly, equity value is calculated at par value. For example, if you held 1,000 Maxis shares RM 5/- each, the Govt says that it is only worth RM 250.00 as these shares are at a par value of 25cents each. If you owned a company with a paid up value of RM 2/- but conducted millions of Ringgit worth of transactions, the Govt values that company at RM 2/-.
The chief setbacks of the abuses of NEP are rampant corruption and cronyism, worsening racial polarization, unrelenting brain drains, warped educational system, thwarted economic competitiveness, ineffectual bureaucracy, retarded economic growth and perverted social values. Such anachronistic and regressive policy has no place in the present globalizing world, and for that matter, in any civilized society.
PM Badawi recently intensified the imprint of the perverted NEP philosophy by prohibiting inter-religious and inter-racial discourse which would otherwise have contributed to greater understanding and harmony among the races.
Consider the hegemony this has created……..
The Jasin MP's saga of cheating millions from Customs over timber imports went unpunished. APs are reserved for Bumis only and despite the millions that each of them make year after year, a senator's son has the audacity to clone the APs several times and the whole thing gets swept under the carpet. A Port Klang councilor buys a 43,000 sq ft plot of land set aside for low cost housing valued at 1.8 million Ringgit 180k and builds a palace without any approval. He gets fined RM 5,000 and still has 30days from today to submit his building plans. Yesterday, despite all the bad press this issue got, the Selangor state Govt confirms his position and that of his son and daughter in law as councilors. The message is clear. Power has shifted from the people to the executive.
The whole issue of Bumi chauvinism started at last year's UMNO assembly when the very very vocal UMNO Youth leaders stated in short that "It's our turn to be rich." This greed is not going to end. We as a nation of loyal citizens have to put a dent into this rubbish for the sake of our children. We need a stronger opposition. By sending a threat to Datuk Seri Lim Keng Yaik, Badawi has betrayed us all. Remember this at the next general election.
We don't need a change in Govt. We need a stronger opposition. We need to send a message to the powers that be that we will not accept second class status for our children.
Colin Nathan
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