Thursday, November 02, 2006

33.7% Bumiputera Equity in 1997? Bumi In the Corporate Sector - 3 Decades of Performance, 1970-2000. CEDER Research Reports Series: Vol I, UM Library

UPDATE: M'siakini has an update Nov 02, which says that ALL are affected by the 97 Asian financial crisis which implied that there is no impact on the statistical data for bumi and non- bumi companies.ABOVE:Source M'siakini, Nov 02 06

Extracts from M'siakini;

Fazilah's analysis of the bumiputera equity ownership did not cover the post-Asian financial crisis in 1997.

No follow-up study - not clear whether the debilitating financial crisis has changed the country's equity ownership structure.

Examined 29 non-bumiputera and 29 bumiputera-controlled companies before and after the crisis. Monthly stock return as a measure of performance

The average return for bumiputera-controlled companies (BCC) dropped from a positive 0.448 before the crisis to a negative -1.153 after the crisis

Par value calculations was used in research

The study found that in 1997, the bumiputera equity ownership was at 33.7 percent - bumiputera corporate equity ownership (30.6 percent) & individual bumiputera share ownership (3.1 percent).

The government's methodology involves some 600,000 registered companies. ASLI, a local think-tank estimated the bumiputera equity ownership at about 45 percent. The government is prepared to reveal its methodology in its computing of the statistics.= = = = =

Malaysiakini has an exclusive story on this and those with subscription could have read about it here

The author of the research paper is currently the Head of the Department of Finance & Banking, under the Faculty of Finance & Accounting.
* Expertise:

- ownership structure and firm performance
- corporate governance
- politically-affiliated government-linked firms
- mergers and acquisition

* Research:

(1) Mergers and acquisition
(2) Ownership structure
(3) Firm performance

From the resume available here it can be gleaned the research paper is titled

Bumiputera in the Corporate Sector - Three Decades of Performance, 1970-2000. CEDER Research Reports Series: Volume I, University of Malaya Library, ISBN 983-2085-36-5, Kuala Lumpur, 2002.

The Research was based on a 10-year analysis of bumiputera equity ownership between 1988 and 1997 of public listed companies on the Kuala Lumpur Stock Exchange (KLSE), now called Bursa Malaysia.
Fazilah’s study is the first publication of the inaugural Research Reports Series of the Centre for Economic Development and Ethnic Relations (CEDER), University of Malaya, involving a team of researchers from the Faculty of Economics and Administration and Faculty of Business and Accountancy in a research project started in early 2000 to study the implications of the New Economic Policy on the Bumiputera community.

As Professor Dr. Jahara Yahaya, Director of CEDEC, wrote in his preface to Fazilah’s study, the coverage of topics intended for the CEDEC research studies was extensive to embrace areas such as the emerging problems of the Bumiputera middle-class in the post New Economic Policy period, Bumiputera entrepreneurs a decade after well as Bumiputeras in the corporate sector. Other issues intended for the study are the proliferation of private higher educational institutions, Malay poverty and the dilution of Malay land ownership.

You can google or yahoo the title and you can have the dead links as follows.

Bumiputera in the Corporate Sector - Three Decades of Performance, 1970-2000. CEDER Research Reports Series: Volume I, University of Malaya Library, ISBN ...
Bid%3D10037067%7D%5D - 28k - Cached - Similar pages
taking you back to her Head of Department page.

Most probably it is under embargo now, perhaps those with UM Library access can get hold of the publication.

But Yahoo gives additional link to her website and more info

However there is a


“The beauty of being in academia is that it gives you a reason to continuously update your knowledge. Learning is a lifelong process, a never ending journey, and I am always learning, especially from my students. It is always a joy to see my work in print, and the following is a list of my publication that I have the opportunity to acquire during my years with the university. I am glad that some of my work have been cited in international journals, as well as paved the way for other PhD theses. Some of the articles can be downloaded from the internet but I will be happy to send you any of the articles should you require them.

Anyone interested?, her email is

Meanwhile a bit more about this researcher. She has a hideaway cottage at Pulau Pisang Kedah and is open for all at a token price.
"This place is a paradise, a place where the only noises you would hear in the dead of the night are those coming from the crickets and the frogs, while in the morning your beautiful slumber will be pleasantly interrupted by the chirping sounds of the birds."

ABOVE: Her Little Cottage: RUMAH MAK WAN - in memory of her mother; BELOW: The padi fields where the Sun sets

You can of course view more & fully at her website by following to her MY NON-ACADEMIC PURSUIT Link


Anonymous Anonymous said...

can't access her website..someone must have decided to bar her website from public viewing.

10:16 PM  
Anonymous Anonymous said...

she looked like one cool woman, so harmless..

10:17 PM  

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