malaysia's hindraf part 3
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This video is a response to HINDRAF VAALGE !!!
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Projects were earmarked for Malay contractors to gain expertise in various fields. Approved Permits (APs) for automobiles preferentially allow Bumiputra to import vehicles. Automotive companies wishing to bring in cars need to have an AP to do so. APs were originally created to allow Bumiputra participation in the automotive industry since they were issued to companies with at least 70% Bumiputra ownership.
naturedisaster 4 years ago
A basket of government run (and profit guaranteed) mutual funds are available for purchase by Bumiputra buyers only.
Many government tendered projects require that companies submitting tenders be bumiputra owned.
naturedisaster 4 years ago
A certain percentage of new housing in any development has to be sold to Bumiputra owners for limited period. Housing developers are required to provide a minimum 7% discount to Bumiputra buyers of these lots.
naturedisaster 4 years ago
Companies listed on the Kuala Lumpur Stock Exchange (Bursa Saham Kuala Lumpur) must find Bumiputras to take up a minimum 30% of equity to satisfy listing requirements.
naturedisaster 4 years ago
The first Prime Minister of Malaysia, Tunku Abdul Rahman, defined the purpose of the act as to "be used solely against the communists...My Cabinet colleagues and I gave a solemn promise to Parliament and the nation that the immense powers given to the government under the ISA would never be used to stifle legitimate opposition and silence lawful dissent".
naturedisaster 4 years ago