No more 30% Equity for Bumiputras for Share Listing?

A very interesting development lately is the doing away of this "sacred cow" policy.

So as a layman, what can I infer from such a policy directive?

PM Najib says in real terms there is no sacrifice of this affirmative policy as now 50% of the shares allocated to the public will be apportioned to the bumiputras. Well and good.

Without the 30% equity policy bugbear, companies are now in full reign to list their companies. No longer do they need to kowtow to the determination of FIC nor MITI in the choice of a bumiputra partner.

All they need to do is get an investment bank and tell them point blank that whatever that is being issued to the public, just half that for the bumiputras. Whether it is taken up or not remains an issue to be seen and for the authorities to resolve.

I guess it's a sort of conditional liberalisation; in the right direction and better than nothing.

A feather to PM Najib for successfully negotiating a serious policy bend.