DPM warns MCA on Bumi equity

Mon, 16 Aug 2010 21:33

By Patrick Lee

KUALA LUMPUR: Deputy Prime Minister Muhyiddin Yassin today criticised MCA president Dr Chua Soi Lek for questioning the 30% Bumiputera corporate equity.

“In the Barisan Nasional, we all have the same stand when it comes to issues about racial interests. This is not a new concept,” Muhyiddin said.

“If MCA wants to fight for the interests of the Chinese, then it should not go against the interests of the Malays. That is only fair,” he said after attending a function at a mosque here.

He was commenting on the 13 resolutions passed at Chinese Economic Congress on Saturday, which call for the gradual removal of the Bumiputera equity, as well as the participation of non-Malays in government-linked companies.

The congress, organised by the MCA, said that these bold reforms were needed to liberalise the economy further.

Chua today reiterated that his party will push hard for the implementation of the 13 resolutions passed at the congress.

However, he came under criticism from Muhyiddin for failing to recognise the plight of the Malays/Bumiputera.

“The 30% target that was set by the New Economic Policy (for the Malays) has not yet been achieved,” Muhyiddin said.

“This (30%) is not a very big number, considering that the Chinese already command more than 40% of the country's resources,” he said. “(In comparison), the Malays only command 18% or 20%”.

He added: “We must understand that in order to uplift the Malays (Bumiputera), we will have to continue with the New Economy Policy until the 30% threshold is achieved.”

“If the Chinese share was reduced from 40% to 20% after it was taken by the Bumiputeras, then I would understand,” he said, adding that while the Chinese have progressed, the Malays did not.

“How can the Malays be expected to rise (economically) if they're looked at from such a narrow point of view?”

“Chua should know that the Malays are not developed yet,” Muhyiddin said, adding that the MCA president should not create anger, especially when talking about the sensitivities of a certain race.

“Whatever MCA does, it has to remember that it still is a component party of the BN. We have principles that we have to stand by,” Muhyiddin added.

“I don't believe the MCA would want to sacrifice the friendship and the cooperation that it gained within BN.”

He also reminded everyone not to play up racial issues, saying that people should not forget the 1969 riots which had caused much suffering.