New rulings for KL businesses from Jan 1

(From left) Jaafar and Mohd Sauffi listen as an attendee gives his point of view on a matter.

AT LEAST 50% equity in all businesses in Kuala Lumpur must be owned by Malaysians starting next year, said Kuala Lumpur City Hall (DBKL) executive director (Socio-Economic Development) Datuk Mohd Sauffi Muhamad.

He said businesses that failed to do so will have their business premises licence revoked.