In a statement, the Bagan MP pointed to the contradiction between forcing Malaysian-based international integrated logistic services companies to have 51% Bumiputera ownership while exempting foreign firms from such a rule.

He said this “highlights the extent of such discrimination and injustice (towards non-Bumiputeras)”.

“Are foreigners considered a bigger part of the Malaysian Family than non-Bumi Malaysians?”

The Keluarga Malaysia concept is said to be the basis of the 12th Malaysia Plan (12MP).

He also took aim at the 12MP’s policy for Bumiputera-owned shares or companies to be sold only to other Bumiputeras, which he said would ultimately end up hurting Malays.

“Does this mean that listed companies on Bursa Malaysia will have two categories of shares, whereby non-Bumi and foreign-owned shares can be transacted openly without restrictions, while Bumi-owned shares can only be (traded) among Bumis?

“Many Bumis have complained to me that they will be unable to sell their shares due to a lack of buyers, or be forced to sell to politically-connected Bumi cronies at below-market value.”

This would bring huge losses for the very same Bumis that the government says it wants to protect, he said.

He noted that as of 2019, 45.5% of corporate equity was owned by foreigners, and questioned why Malaysian shares as a whole were not being protected with only those held by Bumiputeras being “ring-fenced”.

If the government’s goal with these policies is to eliminate poverty – with the majority of the poor being Bumiputeras – it should not discriminate between different races within the poorest groups, he said.

“The government should implement poverty-alleviation or income enhancing policies for all, regardless of race or religion. There should be no discrimination with different policies for a poor Chinese or Indian compared to another poor Malay or Orang Asli.”