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PM Najib is telling a half-truth about NEP and bumi equity

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1. 23% bumiputra equity in 2010 is WRONG.

UMNO and Bank Negara are using face value, not the market value to compute bumi equity. The actual bumi equity is at least 45%, UMNO is purposely to underestimate bumi equity for justifying NEP and Malay brainwashing campaign.

MCA is silent on statistical data manipulation by UMNO, thus MCA is evil as UMNO.

2. Rent seekers a.k.a Alibaba has caused the leakage of bumi shares of RM 52 billion is TRUE.

Najib blames rent seekers for failure to achieve 30pc equity By ZUHRIN AZAM AHMAD

PUTRAJAYA: Rent seekers caused the failure to achieve the 30% bumiputra equity in the country’s economy, said Prime Minister Datuk Seri Najib Tun Razak.

Addressing an economic forum of Malay/Bumiputra leaders, Najib said when the rent seekers failed in their businesses, it derailed the target.

However, there have been some improvement as the bumiputra equity had increased to 23% in 2010 from 21.9% in 2008, he said.

“This is the result of the government’s market-friendly policies and the move to offer business opportunities to bumiputras based on merit,” he said.