Najib slashes Bumiputera equity quotas, FIC role News
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 Jul 1 2009, 01:16 AM
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#1
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Junior Member
6 posts Joined: Jul 2009  
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it's not 50% of the whole share lah... it's just 50% of the 25% listed in bursa. that means bumi entitled for 12.5% minimum. however, if the total shares listed in bursa is 40-50 or maybe 60%, that means bumi will entitle for 20, 25 or 30%. my question is does this new requirement applies to existing shares in bursa and what if currently 70% owned by non-bumi individuals.
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Jul 1 2009, 01:24 AM
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#2
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Junior Member
6 posts Joined: Jul 2009
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QUOTE(gregy @ Jul 1 2009, 01:23 AM) 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. then if no IPO no lah 50%. then it means it's possible to have a company 100% non-bumi ?  IT DOES NOT MAKE SENSE! --- most investor gurus do not recommend to go for IPO (as in recent events past year) unless the company is solid and with strong foundation. and to ask bumi to snap 50% released IPO is like asking them to snap ASN... This post has been edited by if-then-else: Jul 1 2009, 01:28 AM |
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Jul 1 2009, 02:42 PM
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#3
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Junior Member
6 posts Joined: Jul 2009
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QUOTE(joe_mamak @ Jul 1 2009, 02:25 PM) so it is true that possible to have a PUBLIC listed company to be non-bumi owned unlike the previous ruling. So let's say if the company does not want to have IPO and issues rights and convertible warrant instead to raise capital, the 50% quota does not apply?  |
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Jul 2 2009, 02:00 AM
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#4
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6 posts Joined: Jul 2009
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QUOTE(TC_Boy @ Jul 2 2009, 01:40 AM) New policies 'a win-win for all' oh, IPO only... once in bursa, it becomes alibaba, and the company becomes 100% owned by non-bumi...... From now on, however, with the 30 per cent rule scrapped, companies only need to offer half of the public spread to Bumiputera investors. This effectively means that Bumiputeras will hold at least 12.5 per cent in initial public offerings. http://www.nst.com.my/Current_News/NST/Wed...icle/index_html  |
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Jul 2 2009, 09:49 AM
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#5
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6 posts Joined: Jul 2009
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QUOTE(! Love Money @ Jul 2 2009, 03:12 AM) they must maintain the 12.5%... so if trading involve with any bumi will subjected with FIC rules... the rule requires 50% of the public share in the market, not 12.5% of total but 50% of market share. if the company dispensed 40% in bursa, that means it will be 20% compelled to sell to bumi. the question is does it apply to shares in current market, or only IPO. I don't think you need to subject 25% total shares when a company releases IPO (i.e, anytime a company raises IPO, it requires to set 25% of its total share), but there must 25% of total shares listed in bursa. So that means to have bumi own minimum 12.5% is impossible if the new ruling does not subject to shares already in the market. and with this new FIC rules this wil draw less investor attention bcoz majority investor in stock market are Chinese  |
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