A thumbs-up for KS with a very informative blog explaining the latest row on Bumi’s equity. I guess all my questions have been answered. IMHO, as a responsible Malaysian, you should at least have a read of his blog to try to understand the flaws riddled statistics used by current administrations for the past 50 years and it is still being used today. I am not DAP supporter but I appreciate his Facts and efforts of putting them together.

It is understood that the Government statistic doesn’t include Bumi’s savings in bank, foreign properties and land ownerships. My question to the Government is, how can they decide that Bumis are still behind in terms of country economy standpoint by just looking at equity ownership (mainly company ownership)?

One good point mentioned by KS is that if the Bumis apply for IPO, pocket the profit by selling them and repeat the process again and again, subsequently invest in foreign investments, we will never achieve the NEP target of 30%. **remember that Bumis have a higher allocation of IPO so the chances of them getting through in IPO application are higher compare to non-Bumis**. This hit-and-run practise is just one of the money-generator-mechanisms mentioned in the Blog. This also means that the non Bumis will have to work much harder under ‘unfair policies’ set out in NEP to fuel Bumis wealth empire (ie foreign investment) which may have been deliberately left out of Government statistics !

*I have to be clear that reason I said ‘un-fair policies’ in NEP is because as far as the NEP target is concerned, it has been achieved, and therefore we should now look to dismantle these measures and build a balanced policy benefit all races. If the Government continue to mock up statistics so that the NEP policies can be maintained to endless date, then it is very unfair for other races.

Just when I am typing this blog… I came across Effendi divorce news.

‘Under the settlement agreement, Effendi consented to give Farida, his wife of over 20 years, a gift of 25 lots of land, two houses in Malaysia, a townhouse in Britain and his shares in Encorp Utility Sdn Bhd. Both parties signed the settlement agreement on Jan 28 last year. ‘

From the Government statistics, Only the share in Encorp Utility Sdn Bhd is considered Effendi’s wealth, and worse still the value is calculated with Par Value of the company’s share. Government completely ignore the rest including the townhouse in Britain which is very eye catching.

Oh, maybe i should ask the Government this question: the Court (Effendi’s divorce case) recognizes all these elements (above) as a person’s Wealth, why not the Government ?

Also, can you recall what was the settlement package for Siti’s husband’s X-wife ? - Massive deal involved couple of houses.

How do you expect me to believe that Bumis are so poor and only taking up 18.9% of the nation’s wealth ? -eng