The government intends to review the management of shopping malls owned by government-linked companies (GLCs) to be managed by local companies to ensure that traders, especially Bumiputeras, are prioritised in conducting business there.
Based on a report by Astro Awani, Prime Minister Datuk Seri Ismail Sabri Yaakob shared that this is because Bumiputera traders are less likely to get business space at such premises due to high rental rates, apart from factors such as competition.
“The government has also taken note that Bumiputera ownership of business premises in prestigious malls and tourist hotspots is still low,” he said.
This matter was decided in a Bumiputera Prosperity Council (MKB), chaired by the Prime Minister, to discuss the efforts to empower and strengthen Bumiputera economic and socio-economic development.
He also suggested that a quota for the number of Bumiputera-owned businesses in strategic locations be established in line with efforts to increase competitiveness.
“However, this quota will be managed in a transparent and fair manner so that the main goal of helping eligible and potential Bumiputera businesses is achieved, without being misused to the point of straying from the real objectives, in line with the Malaysian Family aspirations,” he added.
Despite the lack of business opportunities, Ismail Sabri also shared that Bumiputera companies had obtained about 80 per cent of the annual contract value of all government agencies.
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This post first appeared on WORLD OF BUZZ.
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