93 KPIs set for 23 ministries to empower Bumiputera's economy - Najib

Ninety-three key performance indicators (KPIs) to empower Bumiputera's economy have been set for 25 ministries, including the Prime Minister's Department this year, the prime minister said.

Datuk Seri Najib Tun Razak said the KPIs, which were recommended by the Bumiputera Economic Council, established higher impacts, as well as being more outcome-based with higher targets placed than that of last year.

The KPIs set for 2016, include securing 50.6 per cent value of Bumiputera contract in the MRT1 project in 2017 against the overall cost of the project and up to 25 per cent for the overall contract of the KL118 Tower (Warisan Merdeka) project against its overall cost.

Another KPI set for this year entails distributing 30 per cent value of contract in the construction of major expressways (such as WCE, DUKE2, EKVE and SUKE) to Bumiputera contractors and completing Perbadanan Wakaf Nasional Bhd's operation framework study and a business plan.

Speaking after chairing the Bumiputera Economic Council's meeting at Perdana Putra here Thursday, Najib, who is also finance minister, said 20 ministries had achieved the 100 per cent target for 98 KPIs set by the council last year.

He said all 25 ministries, including the Prime Minister's Department, achieved at least 80 per cent of the KPIs set for 2015.

"The establishment of the KPIs is important in ensuring that the Bumiputera Economic Empowerment Agenda is implemented systematically and effectively as a national agenda," he said.

Najib cited the successes as the increase in the number of vendors and anchors under the Vendor Development Programme from 68 companies in 2014 to 90 in 2015, as well as the transfer of technology to Bumiputera with contracts worth about RM120.8 million and branding market worth RM2.3 billion.

"The impact of the implementation of all the KPIs can boost Bumiputera's economy, thus help realise the government's effort in turning Malaysia into a high-income developed country by 2020," he said.

The prime minister also cited encouraging results achieved by students sponsored by Yayasan Peneraju Pendidikan Bumiputera in professional accounting certifications such as CAT, CBA, CFAB, ACCA, CIMA, CPA Australia, ICAEW and MICPA-CAANZ.

"The overall passes of 75.3 per cent recorded by students sponsored by Yayasan Peneraju for the certifications surpassed the world's average of 67.6 per cent," he said.

At the event, the prime minister also witnessed the exchange of strategic collaboration agreement on the Peneraju Young Professional Accountants scheme between Yayasan Peneraju Pendidikan Bumiputera and Yayasan Pahang costing RM1.2 million.