“M’sia becoming a decaying elitist economy serving kleptomaniacs”

THE Federal Constitution does not extend ethnic dominance but instead supports a reasonable representation of all communities in all sectors of the economy.

“The dichotomy of Bumiputera versus the non-Bumiputera is not only immoral but it is also unconstitutional. There is nothing stated about ensuring one-race one-elite dominance over the public sector and private sector.

“The fact is, we have become a decaying elitist economy and kleptomaniac political hegemony regime,” former Johor DAP chairman Dr Boo Cheng Hau told FocusM.

Last month, the Federation of Malaysian Freight Forwarders (FMFF) bemoaned a policy from the Government which required local freight forwarders to have a whopping 51% Bumiputera stake in their companies.

Surprisingly, foreign-owned companies were exempted from the rule.

“If local logistics companies are compelled to sell a majority share to Bumiputera investors, it would mean that the Government is telling us to sell our business to a Bumiputera or close down.

“Bear in mind that by selling 51% of the business, it means the present owner can no longer control and run his business,” FMFF president Alvin Chua was reported saying.

The Finance Ministry had since extended the schedule to December next year to allow the Bumiputera Agenda Steering Unit (Teraju) to review the participation of the Bumiputera community in the logistics industry in greater detail.

Touching on the matter, Boo said that it was obvious that such policies would only further consolidate the monopoly of the T1 (Top 1% ruling elites) and their cronies.

He added that affirmative action policies should be need-based, which means it should target and benefit the B40 and M40 communities.

“Even that should be limited to jobs and education opportunities. It’s economically insensible and unjustifiable to ensure a particular ethnic group gets a percentage of equity in corporate ownership,” said the former state assemblyperson.

Bleak future with racist policies

In general, Boo opined that such policies have derailed Malaysia’s competitiveness and innovation as a nation.

The DAP leader added that unless the people come together as Malaysians, instead of harping on Bumiputera and non-Bumiputera issues, the country would be stagnant for a long time.

“I don’t see us becoming a high-income nation with impressive gross national product (GNP) and GNP per capita growth under the 12th Malaysia Plan.

“The New Economic Policy (NEP) was the actual powerhouse in propelling rural folk, Malays and East Malaysians to better their socio-economic condition; using accessibility to education, technical and vocational training, urbanisation and solid industrialisation policies.

“On the other hand, race-based economic elitist policies have benefited the T1 only and has stunted Malaysia’s rise as an advanced nation,” Boo remarked.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s