Malaysia removes bumiputera equity requirement for some private education institutions
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Malaysia’s education ministry said it is dropping the 30 per cent bumiputera equity threshold to align ownership rules with the sector’s needs.
PHOTO ILLUSTRATION: PEXELS
- Malaysia’s Education Ministry has removed the 30 per cent bumiputera equity ownership requirement for certain private education institutions.
- This decision was made after discussions with the Investment, Trade and Industry Ministry to better align with current education sector needs.
- The ministry aims to keep education participation open to all and appreciates contributions from private education operators for Malaysian students' benefit.
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PETALING JAYA – Malaysia’s Education Ministry has removed the requirement for certain private education institutions in the country to maintain at least 30 per cent bumiputera equity ownership.
Bumiputera, meaning “sons of the soil”, is a grouping comprising mainly Malays and other indigenous people.
The ministry said the decision to drop the 30 per cent bumiputera equity threshold for private education institutions operated by private limited companies was reached following discussions with the Ministry of Investment, Trade and Industry (MITI).
“Following discussions between the Education Ministry and MITI, the ministry has agreed that the requirement for at least 30 per cent bumiputera equity will no longer be imposed as a condition on private limited companies operating private education institutions under the ministry,” it said in a statement on Sept 21.
The ministry said the move was aimed at aligning ownership requirements with the current needs of the education sector, while ensuring participation in education remained open to all parties seeking to contribute to the country’s development.
“The Education Ministry appreciates the contributions of all private education institution operators and will continue to work with all parties in the interest of Malaysian students,” the statement added. THE STAR/ASIA NEWS NETWORK