Bumiputera equity minimum stays at 30% under property guidelines, Economy Ministry says

The Economy Ministry confirmed in a parliamentary reply that the minimum Bumiputera equity requirement under the Property Acquisition Guidelines remains at 30 per cent. The government rejected a proposed increase to 50 per cent for private companies buying properties over RM20 million from GLCs and

PETALING JAYA (Oct 21): The minimum Bumiputera equity requirement for specified acquisitions under the Property Acquisition Guidelines remains at 30 per cent, the Economy Ministry said in a written parliamentary reply.

The ministry was responding to Bagan MP Lim Guan Eng's questions about raising the requirement from 30 per cent to 50 per cent for private companies acquiring properties worth more than RM20 million from government-linked companies (GLCs) and government-linked investment companies (GLICs). Lim also asked about the value of deals affected and whether the requirement could be restored to 30 per cent.

According to DagangNews, the ministry said the government had considered stakeholders' views and reviewed the proposed increase before deciding to pursue the Bumiputera economic empowerment agenda through administrative measures involving GLCs and GLICs. The ministry described the proposed increase as a means of expanding Bumiputera participation and ownership in strategic, high-impact properties.

It said the government would continue monitoring property acquisition and disposal policies and periodically assess their effectiveness, taking economic developments and current needs into account. The ministry's published Property Acquisition Guidelines, which took effect on July 13, 2022, stipulate at least 30 per cent Bumiputera ownership in companies undertaking specified acquisitions requiring ministry approval, subject to the applicable provisions and exemptions.