I'm too lazy to write following my lost of interest in things due to the less than inspiring going-ons in the run up to the Umno elections.
So, I'm just doing a copy and paste job here of a story I lifted from that very user unfriendly website of NST with certain paragraphs highlighted for those who are equally lazy to read the whole bloody article.
HIGH GEAR: Government-linked companies show that there is strength in diversity
PUTRAJAYA: PRIME Minister Datuk Seri Najib Razak will unveil on Saturday sweeping measures to shift the Bumiputera agenda in Malaysia's development to a higher gear.
The measures would cover not just economic aspects like equity ownership and business activities, but also human capital and socio-economic development.
Najib will announce the initiatives at a special event to be held at Universiti Teknologi Mara in Shah Alam, and aired live at 10.30am on RTM and TV3.
This will be one of the biggest announcements by Najib on the Bumiputera agenda since becoming prime minister.
The measures come on the heels of Barisan Nasional's victory in the general election, with reinforced support from the Malay electorate.
"The initiatives to be unveiled by Najib on Saturday will transform further the Bumiputera economic agenda," said an official involved in discussions on the plan.
"He will also announce measures to strengthen Bumiputera institutions such as Mara, Teraju, Ekuinas and UDA."
At a media briefing here yesterday, ahead of the announcement, Minister in the Prime Minister's Department Senator Datuk Seri Abdul Wahid Omar said while the Bumiputera agenda had recorded commendable progress so far, more needed to be done.
"We may have more Bumiputera professionals in the legal field, doctors, architects and engineers, but still lack in other fields.
"Among certified accountants, for example, only eight per cent are Bumiputera."
Wahid said the Bumiputera Agenda Action Council, which Najib chairs, had held consultations with various agencies and non-governmental organisations.
"A recurring issue is the lack of employment opportunities for Bumiputera in the private sector, especially at the executive level.
"While government-linked companies (GLCs) have embraced equitable employment opportunities for all at various levels, the private sector still needs to be encouraged to do so."
He said GLCs like Maybank, CIMB, Axiata and TM had proven that embracing equitable employment opportunities was not a hindrance to success in business.
"In fact, Maybank and the other GLCs have proven there is strength in diversity."
Another issue is the level of commercial property ownership by Bumiputera which was still low, hindering their participation in the retail sector.
Wahid said recent data showed only five per cent of transactions of commercial properties involved Bumiputera, which deprived them of suitable business premises to grow their enterprises.
"Something must be done to improve the capacity of Bumiputera to buy commercial properties."
On Bumiputera equity ownership, the minister said it had improved to 23.5 per cent in 2011 from 2.4 per cent in 1970 at par value.
At market value, the level of ownership is at 26 per cent.
"Continued efforts will be made to increase the figure further," he said, adding this is done among others through Permodalan Nasional Bhd and Ekuinas.
The long-standing supply chain problem encountered by Bumiputera businesses, especially contractors, must also be addressed.
Wahid said Bumiputera contractors were facing problems in getting building materials at affordable prices.
"Among the reasons cited by the suppliers are that they are small and one-off buyers, so they could not buy on credit term.
"We may have to look at the possibility of establishing alternative supply for these contractors," said Wahid.
After the Bumiputera Agenda Action Council meeting late last month, the prime minister had announced an additional RM4.2 billion worth of opportunities for Bumiputera companies to participate in four mega projects.
The four projects are Menara Warisan Merdeka, Bukit Bintang City Centre, development of the Rubber Research Institute land in Sungai Buloh and Malaysia External Trade Development Corporation (Matrade) exhibition centre.