I (chinese) and my Malay fellows would like to start up a new Sdn Bhd company.

They suggest to form it as bumiputera status to enjoy some priviledges. But they not sure what the priviledges except the 5% Bumi property discount.
What else the Bumi company benefits?? (we not deal with government departments)

Their combined shares are more than 51% and according to some online sources, we meet the requirement to be Bumi status; but some say must be 100%.
So which one is correct??

** Any secretary company here please contact me. Tq

This post has been edited by marktu601: Jul 12 2018, 12:11 PM

https://www.google.com/search?q=benefits+of...chrome&ie=UTF-8

https://forum.lowyat.net/topic/1817227/all

This post has been edited by MUM: Jul 12 2018, 12:51 PM

ya, i red the 2nd one but no conclusion.

Did some googling but can't get an exact answer.

googled and found this....

Bumiputera companies
Bumiputera companies are established through the same process as the Sdn. Bhd., but are characterized by
i) 100% equity ownership by ethnic Malays
ii) 51% or more of the board seats filled by ethnic Malays and
iii) 51% of the workforce being ethnically Malaysian.

http://www.malaysiabusinessregistration.com.my/requirements/

Thank you you MUM.

Just got reply from the lawyer:
Please be advised that the criteria set by the Government, GLC or private company may differ from time to time. Some would require 100% company wide, some would require majority for shareholder only and some would required shareholders and directors. Ofcourse the optimum version is 100% bumi. We would recommend that you arrange a consultation to discuss how to best achieve your target.

This post has been edited by marktu601: Jul 12 2018, 05:00 PM

What's the objective you're trying to achieve first? The privileges changes from time to time, new one comes old one goes. And the requirements also changes from time to time.

IMO not worth it if there's nothing in particular you're aiming to achieve e.g. better market acceptance or more competitive at tenders or other applications.

- what is your product / services?
- who are your target customer?

DEFINITION OF BUMIPUTERA COMPANY

A Bumiputera (Malaysian) company must fulfill the following criteria:

Established under the Companies Act, 1965
Paid-up capital of at least RM25,000

Shareholders are 100% Bumiputera(Malaysian)

Board of Directors are at least 51% Bumiputera(Malaysian)

Managerial and Professional Staff are at least 51% Bumiputera(Malaysian)

Supporting Staff are at least 51% Bumiputera(Malaysian)

Bank Cheque Signatory Bumiputra only
For more info can WhatsApp 0123900700


My name is Rustam, we are doing company registration cosec, mof
Pls contact me at whatsapp +60123900700 if u need Ready Made Shelf Company or Register New Sdn Bhd Company or want to change cosec or register with ministry of finance or lesen kementerian kewangan mof treasury licence
We also do bankruptcy search and legal search

we are in Sentul Kuala Lumpur and can do all company secretary functions by online whatsapp and email and courier

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This post has been edited by zaizu: Jul 14 2020, 03:44 PM