PuTERA35 Drives More Bumiputera Companies to Listing

At least ten new-generation Bumiputera companies have been identified as having high potential for mentorship and preparation towards listing on Bursa Malaysia, as part of the PuTERA35 initiative. These companies are also seen as potential candidates for the ACE Market, which caters to growth-oriented enterprises. The Minister of Economy, Akmal Nasrullah Mohd Nasir, stated that this initiative underscores the government's commitment to strengthening the Bumiputera development ecosystem, aligning with the goals of the Bumiputera Economic Transformation Plan 2035 (PuTERA35). The identified companies were selected by the Bumiputera Agenda Steering Unit (TERAJU) based on value creation, access to private investment, capital market strengthening, and regional market expansion. This effort is crucial for bridging the gap in Bumiputera company participation in the capital market, where currently only one in 97 new listings in the past three years was Bumiputera-majority owned, and about seven percent of listed companies are Bumiputera-owned. The focus is shifting from providing aid to building genuine business value, aiming to produce Bumiputera companies capable of competing in the ASEAN market and achieving public listings.

This initiative is important for increasing Bumiputera economic participation and competitiveness within Malaysia's capital markets.