Government to review GLC-owned malls to support bumiputera traders

by | Nov 20, 2021 | Business, LOCAL | 0 comments

GLC-owned mall managements are to be reviewed according to the government, in an effort to ensure they are being run by bumiputras and are fitting for bumiputras business.

Prime Minister Datuk Seri Ismail Sabri Yaakob said, “The government has taken note that ownership of business spaces at prestigious shopping malls and major tourist destinations among bumiputra traders is still low.”

He added that bumiputra traders are not able to pay high rent and are in competition with other businesses.

The prime minister’s decision has been deemed lopsided and unfair as non-bumiputras face similar predicaments but does not ask for government interventions.

Mike Koh said, “We also have to take a loan from banks, friends and family. There are many non-bumis that failed multiple businesses before even managing to stay afloat.”

He believes that it is unfair and urges the bumiputras to be smarter instead of depending on the government.

Ismail Sabri insists the quota will be handled in an unbiased way.

“The quota will be managed fairly and transparently so that the main objective to help qualified and high-potential bumiputra businesses will be achieved,” he said.

The Bera MP emphasised it would not be abused to the extent of deviating from the real objective in line with the aspiration of Keluarga Malaysia.

Other non-bumiputras claimed that it is useless to incentivise Bumis if they do not have the grove for businesses.

June Chan said, “If you know how to do business, even selling ‘kacang puteh’ can make you money.”

If a person does not know how to manage business income, it will still go bankrupt despite getting a gold bar.