No study shows 30pct equity rule helps bumiputera, says ex-govt agency chief
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Former agency chief Ibrahim Sani has criticized the 30 percent Bumiputera equity requirement, arguing that there is no empirical evidence it effectively improves the community's economic standing. He warned that the policy may lead to 'proxy ownership' rather than genuine economic participation.
Why it matters
The critique challenges a long-standing affirmative action policy in Malaysia, sparking debate over the efficacy of equity-based empowerment programs.
News ✕ No study shows 30pct equity rule helps bumiputera, says ex-govt agency chief Aiman Nur Suria Kamaruzaman Published: Oct 13, 2026 2:08 PM Former Yayasan Peneraju CEO Ibrahim Sani, 42, has questioned the effectiveness of the 30 percent Bumiputera equity requirement, saying no comprehensive impact study has been published to show whether it has improved the community’s economic standing.
He warned that the requirement could encourage proxy ownership, with bumiputera named as shareholders merely to meet the condition without genuinely participating in the business.
“This is the problem. It’s not real equity ownership. It’s...
Former Yayasan Peneraju CEO Ibrahim Sani, 42, has questioned the effectiveness of the 30 percent Bumiputera equity requirement, saying no comprehensive impact study has been published to show whether it has improved the community’s economic standing.
“This is the problem. It’s not real equity ownership. It’s just participation in name only,” he said.
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