Correct me, but I think it's something like this. SC requires 25% of a company's shares to float on the KLSE if it goes for IPO. Out of that 25%, half gets allocated to bumis. So if all bumi-allocated shares are taken up they will own 12.5% of the company while the balance 87.5% can be owned by any entity; bumi, non-bumi and foreigners. Is that right ah?

In the past, bumi equity must be 30% before passing for listing, then 25% gets floated. Out of the floated amount, both bumi and non-bumi are allowed to buy, but no fixed allocation. So in the past, bumi will get minimum 30% first, then balance 25% floated and 45% directors and principal shareholders. Is that correct?

So now they're saying, companies need not allocate 30% like in the past, now they can own up to 75% of their own company and offer up 25% for the public, of which 12.5% must be allocated to bumi.

Some sort like that la, or maybe I'm wrong? Any expert views out there?

I think this should only apply to companies going for new listing. If they were to do a recount of all existing shareholders of listed shares, wouldn't it be a chaotic mess? After all, PM is trying to encourage fresh FDI into the country right? Also to invite those foreign companies that cabut last time due to the 30% ruling to come back.

Private listed company why not? I don't think there's any provision for bumi ownership in private companies, is there?

Then it becomes 100% non-bumi owned loh Much like what happens to most projects handed to some bumis, they Ali-baba the project and make a quick buck.

http://www.dailyexpress.com.my/print.cfm?NewsID=20619