Tuesday, October 17, 2006

asli Vs EPU

Bumi_Equity.gif
SOURCE: Malaysiakini
One argues about ownership of shares; the other on the wealth of shares. NEP is creating wealth and ownership in equity shares. As I commented earlier every public company must reserve 30% equity shares for the bumi/bumi held companies on the prescribed regulations so that it is seen the bumiputras/companies held a stake in the ownership/wealth of the country or business. EPU uses par value which I think it is flawed. You can't say a wealth of $1 will not increase in value after 35 years? Public bank shares of $1,000/- after 40 years had increased to $1.2 million!(Reported in The Star of Public Bank 40 years of its founding). I believe the government(reads UMNO) wants to hold the cake and eat it all. By right as most people agreed that the government should be proud that the NEP has been achieved and the leaders should welcome it with open sincerity than the critical exclamations of "rubbish" or "damage done" without offering hard data to proof its statements! And now we have our AAB asking the people not to question the government. I think he should preach what he speaks and do it too and not turn around and tell the people you can't tell me what to do. The voters elected him to office and as such he should listen to the people grievances especially on transparency and accountability and professionalism too. He shouldnt have said to shut off the people's minds or arguments. We are not talking about race; we are talking about the achievement of NEP which the government(reads UMNO) should take cognizance of the fact that it has achieved it. Why the reluctance to accept the good work I wonder?

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