Latest news with #non-Bumiputera
New Straits Times
05-08-2025
- Politics
- New Straits Times
Govt backbencher, opposition MPs clash during Prime Minister's Question Time in Parliament
KUALA LUMPUR: Tensions flared in the Dewan Rakyat this morning when a government backbencher got into a shouting match with an opposition member of Parliament over Datuk Seri Hamzah Zainudin's remarks on the 13th Malaysia Plan (13MP). The exchange began when the opposition leader posed a question to Prime Minister Datuk Seri Anwar Ibrahim regarding the 13MP, which was tabled last week. During a supplementary question, Hamzah said the 13MP lacked firmness in addressing the socioeconomic gap between Bumiputera and non-Bumiputera communities. "This isn't specifically about developing new Chinese villages. But when other MPs bring it up, what can I do?" he said. His remarks did not sit well with Mohd Sany Hamzan (PH–Hulu Langat), who interjected and asked the Larut MP, "Is this a debate?" He reminded the House that the session was Prime Minister's Question Time, not a debate. Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) then rose to defend Hamzah, questioning Sany's interruption. "Why are you interrupting the opposition leader? You keep interjecting. Just let him speak," he said. Sany shot back, reminding Hamzah and Wan Fayhsal that the session was meant for questions directed at the Prime Minister, not a debate. "Kau kenapa koyak? Koyak pula engkau." ("Why are you getting so worked up? You're the one losing it now.") The heated exchange was eventually diffused when Dewan Rakyat Speaker Tan Sri Johari Abdul intervened, instructing all MPs to take their seats and allowing Hamzah to finish his remarks. Yesterday, tempers flared in the Dewan Rakyat after Datuk Awang Solahuddin Hashim (PN-Pendang) warned the government about a possible repeat of the May 13, 1969 race riots. Awang had alleged this could happen because the 13th Malaysia Plan (13MP) "sidelined Bumiputera interests". The uproar began when Awang interjected during opposition leader Datuk Seri Hamzah Zainudin's debate speech on the 13MP, claiming the plan lacked development for Bumiputera while discussing Chinese new villages.
The Sun
28-07-2025
- Business
- The Sun
Two Bumiputera firms targeted for Bursa Malaysia listing by year-end
KUALA LUMPUR: The government is targeting at least two Bumiputera companies to be listed on Bursa Malaysia by the end of this year. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi revealed this during the launch of the Bumiputera Rapid Acceleration and Value Enhancement (BRAVE) programme today. The initiative aims to strengthen the Bumiputera entrepreneurial ecosystem by offering alternative financing of up to RM1 million at a competitive profit rate of 3.5 per cent. Additionally, selected companies will receive comprehensive capacity-building support to prepare them for public listing. 'A total of 15 companies will be selected in the initial phase, and from that number, five will receive intensive mentoring to prepare them for listing on Bursa Malaysia by the end of this year,' Ahmad Zahid said in his speech, delivered by Minister of Entrepreneur and Cooperatives Development Datuk Ewon Benedick. As of 2022, only 62 out of 945 companies listed on Bursa Malaysia were majority Bumiputera-owned, representing just seven per cent. Over the past four years, only one Bumiputera company was listed compared to 96 non-Bumiputera firms. 'More concerning is that over the past four years, only one Bumiputera company has been listed compared with 96 non-Bumiputera companies. This reflects an urgent reality; we cannot remain complacent with the 'status quo' but must step out of our comfort zones and create change,' he said. To achieve the listing target, Ahmad Zahid emphasised the need for strategic training in investor relations, corporate communications, and IPO preparation, alongside stronger industry collaboration. On micro, small, and medium enterprises (MSMEs), he noted that the sector contributes 97.4 per cent of all businesses in Malaysia, generating RM631.1 billion in GDP and RM152.2 billion in exports in 2023. However, challenges such as limited capital access and low competitiveness persist. He hopes the BRAVE programme will serve as a catalyst for MSME growth, addressing these barriers while fostering economic inclusivity. - Bernama
The Sun
22-07-2025
- Business
- The Sun
JAKIM investigates hospital catering firm without halal certification
NILAI: The Department of Islamic Development Malaysia (JAKIM) is investigating the appointment of a catering company without halal certification to supply meals at a hospital. Director-General Datuk Dr Sirajuddin Suhaimee stated that JAKIM is gathering detailed information to address the issue collaboratively. Sirajuddin clarified that JAKIM only became aware of the matter after it was highlighted in the Auditor-General's Report. He emphasised that the Ministry of Finance requires all food suppliers to have halal certification and urged agencies to verify certification before appointing vendors. JAKIM is prepared to assist companies in obtaining halal certification. Sirajuddin also noted that some Bumiputera businesses mistakenly believe their Muslim status exempts them from certification, stressing the need for mindset change. Last year, JAKIM received 19,686 halal certification applications, with a majority from non-Bumiputera firms. Sirajuddin highlighted Malaysia's global halal recognition, with certification accepted in 47 countries through 85 foreign bodies. - Bernama
The Star
10-07-2025
- Business
- The Star
Enproserve IPO sees 0.43 times oversubscription for public shares
Enproserve Group Bhd managing director Azman Yusof. — AZLINA ABDULLAH/The Star KUALA LUMPUR: Mechanical and civil engineering services provider Enproserve Group Bhd saw strong demand for its ACE Market initial public offering (IPO), with the public portion oversubscribed by 0.43 times. In a statement, Enproserve said it received 1,414 applications for 74.9 million public issue shares from the Malaysian public, valued at around RM18mil. This exceeded the 52.5 million shares offered to the public via balloting, leading to an oversubscription rate of 0.43 times. Enproserve said the strong investor demand across all subscription tranches reflects the group's solid value proposition and strategic position within a key industry segment. 'The strong reception to our IPO validates investor confidence in Enproserve's resilient business model and strategic position within the vital oil and gas and petrochemical industries. 'With enhanced capabilities as we continue to scale our operations, we are primed to accelerate growth and further expand our market share,' group managing director Azman Yusof said. The Bumiputera portion received 705 applications for 40.57 million shares, resulting in an oversubscription rate of 0.55 times, while the non-Bumiputera portion saw 709 applications for 34.39 million shares, translating to an oversubscription rate of 0.31 times. At the same time, all 244.18 million shares offered to selected investors through private placement were fully taken up. The 18.32 million shares set aside for eligible directors, employees, and contributors to the group were also fully subscribed. The IPO, priced at RM0.24 per share, involves a total of 315 million ordinary shares, consisting of 210 million new shares under the public issue and 105 million existing shares offered for sale. Upon listing, the company's enlarged share capital will stand at 1.05 billion shares. The IPO raised RM50.4mil in gross proceeds for Enproserve through new share issuance. Of this, RM23.7mil will go towards capital spending to strengthen its plant maintenance, turnaround, and engineering services, including the purchase of heavy equipment and vehicles. The remaining RM26.7mil will be used for working capital, loan repayments, and listing-related expenses. Enproserve is expected to be listed on the ACE Market of Bursa Malaysia on July 18. KAF Investment Bank Bhd is the principal adviser, sponsor, sole placement agent, and sole underwriter for the IPO.
Malaysian Reserve
03-07-2025
- Business
- Malaysian Reserve
A1 AK Koh IPO draws tepid response from public investors
A1 AK Koh Group Bhd's initial public offering (IPO) on the ACE Market of Bursa Malaysia received a modest response from public investors, with some segments of the exercise seeing undersubscription. The company reported that total applications from public investors amounted to 46.80 million shares valued at RM11.7 million, slightly exceeding the 42 million shares offered. This reflects a subscription rate of just 1.11 times. However, the tranche earmarked for Bumiputera investors under the public portion fell short, attracting only 20% of the intended take-up. The unsubscribed shares were subsequently reallocated to the non-Bumiputera portion, which was oversubscribed by about two times. Shares reserved for eligible persons were fully taken up. Meanwhile, the private placement component — comprising both new and existing shares allocated to approved Bumiputera investors, institutions, and selected investors — was fully subscribed following a clawback and reallocation process. Allotment notices are scheduled to be posted to successful applicants on July 10, with the company's listing set for July 11. A1 AK Koh, known primarily for its premixed soup spices, will debut on the market with an issue price of 25 sen per share. The IPO is expected to raise RM27.3 million for the company which is based in Johor and established in 1986. A1 AK Koh manufactures and markets more than 340 processed food and beverage products, including snacks, noodles, seasonings, canned seafood, and ready-to-drink beverages. Post-listing, the company is expected to have a market capitalisation of RM210 million, translating to a valuation of approximately 18 times its latest earnings. AmInvestment Bank is acting as the principal adviser, sponsor, underwriter, and placement agent for the IPO. — TMR
