Business News

Twenty bumi listings planned


Under the Government’s SJJB or Skim Jejak Jaya Bumiputera, some 20 local bumiputera companies are expected to go public. According to Datuk Seri Mustapa Mohamed, the Minister of International Trade and Industry, this is the continuous effort of the government to assist local bumiputera companies to improve and grow. So far, 4 companies have been listed this year under the scheme where the latest is Prestariang Berhad. 2 other companies went public last year. Prestariang Bhd is expected to be listed in the Main Board in Bursa Malaysia.

It is a small start and they are planning to expand the number to 20 pretty soon coming through the pipeline.  The SJJB is a government initiative which was established in 2007 to help the bumiputera community with entrepreneurial capabilities. Currently, 30 bumiputera companies have been identified to be capable and that fulfil the listing criteria as stipulated by the SC (Securities Commission). From here, the government will assist them to meet the requirements for listing by Bursa Malaysia. The Minister said that as the number of bumiputera equity is still low which is why the scheme is put in place to help those who are capable but need a little more assistance.