Hooray, we are all going to be bumiputras !

The announcement by the PM of the removal of the 30% bumiputra equity requirement in 27 related service businesses has brought some hope to the already moribund economic environment. The allowing of 100% foreign owned business entity will no doubt be a major boost to attract FDIs. Likewise, in the local business communities, a freer economy will provides more business opportunities and a freehand to choose a good and workable partnership.

He also talked of greater economic liberation at a later stage.

How are the Malays (bumiputras) going to take this economic liberation?

Are they going to see the non-bumiputras as a threat to their economic survival?

Firstly, the bumiputras must realize that economically, socially and politically, it is a globalized world now. So, to constantly depend on government assistance will make their survival even more challenged and thus will weaken further their chances for survival in the business world.

Secondly, there are many bumiputra businessmen who are successful on their own. Like many successful businessmen, regardless of race, they are successful because they are daring: they are not afraid of failures, dare to take challenges and struggled to be successful. As such the bumiputras must always strive to take challenges and build their business acumen through trial and error and hard work.

Thirdly, the bumiputras must remove from their mindset the ‘ketuanan Melayu’ concept as it never existed. Please come back to reality and senses because this is a drum-up concept by the politicians to buttress their political survival and nothing else. The drum-up is so strong that it has become a serious mental block and has caused so much division among the people. Let us forget about this and move forward together to start a new revolution: Racial Revolution for one race.

A word of caution.

This government has two serious flaws in its quest for efficiency.

It has an unsavoury reputation for changing policies to suit its political aims and hence, its moniker: flip-flop.

It has also a very bad track record in its implementation of policies and projects. Many are either shelved, stopped half-way or totally abandoned.

So, before we clap our hands, let us wait and see. Let us wait for the reactions from the bumiputras and then see the implementations by the government.

Then we make our own conclusions.