Govt intends to review management of GLC-owned shopping malls - PM

KUALA LUMPUR: The government intends to review the management of shopping malls owned by government-linked companies (GLC) to ensure that they are managed by local companies and that Bumiputera traders can conduct their business there.

Prime Minister Datuk Seri Ismail Sabri Yaakob said this was because Bumiputera traders were unable to afford business spaces at the malls, even at GLC-owned malls, due to high rental rates and tough competition.

"The government has also taken note that ownership of business spaces at prestigious shopping malls and major tourist destinations among Bumiputera traders is still low," he said in a statement here today.

He said the matter was decided at the Bumiputera Prosperity Council (MKB) meeting which he chaired via video conferencing yesterday, to discuss efforts to empower and strengthen the socioeconomic development of Bumiputera.

The Prime Minister said the meeting also proposed for the quota of Bumiputera-owned business premises at strategic locations be fixed in line with the effort to increase competitiveness and strengthen the Bumiputera economy.

"However, the quota will be managed in a fair and transparent manner so that the main objective to help qualified and high-potential Bumiputera businesses will be achieved, without being abused to the extent of deviating from the real objective in line with the aspiration of Keluarga Malaysia," he said.

On the Bumiputera participation in government procurement, Ismail Sabri said the meeting was informed that Bumiputera companies had secured 80 per cent of the overall value of government agencies' annual contracts.

At the same time, he said the government is committed to ensuring that the GLC and government-linked investment companies (GLIC) continue supporting the aspiration of Bumiputera participation in their procurement.

Apart from that, the Prime Minister said the opportunity for Bumiputera companies was wide open in the 5G network system development project undertaken by a government wholly-owned company where they would benefit up to 60 per cent from the project's total estimated value for 10 years of implementation.

"Once again, the procurement will be managed fairly and transparently so that only Bumiputera companies qualified by merit will get the benefits," he said.

On Bumiputera asset ownership rate especially in housing and commercial premises ownership, Ismail Sabri said the government would ensure that all housing projects would not just be affordable, but also built with better quality and at strategic locations.

The Prime Minister said the government also agreed for the functions and roles of the Bumiputera Agenda Steering Unit (TERAJU) to be empowered in ensuring that the Bumiputera agenda remains relevant and competitive in line with the economic development.

For that, he said the government would set up a Bumiputera Agenda Empowerment Unit in every ministry and government agency to coordinate all Bumiputera initiatives, policies and agenda as agreed to by the MKB to improve governance and delivery of services relating to Bumiputera.

"TERAJU as the MKB secretariat also presented their report on the preparation for the launch of Bumiputera Development Action 2030 (TPB2030) slated on Dec 6 in Kuala Lumpur.

"Based on the principle of equitability of opportunities and equitability of outcomes, TPB2030 was developed by TERAJU based on the gist of the Shared Prosperity Vision 2030 (WKB2030), supported by the 12th Malaysia Plan and inclusive of the context of Keluarga Malaysia," he added.

-- BERNAMA