PETALING JAYA: The Education Ministry has removed the requirement for certain private education institutions operated by private limited companies to have at least 30% bumiputra equity.
The ministry said the decision followed discussions with the Investment, Trade and Industry Ministry (Miti) over the ownership requirement, which was stated in the Private Education Institutions Policy Statement Book published in 2006.
“Following discussions between the Education Ministry and Miti, the ministry has agreed that the requirement for at least 30% bumiputra equity will no longer be imposed as a condition on private limited companies operating private education institutions under the ministry,” it said in a statement on Monday (Sept 21).
The ministry said the move was aimed at aligning ownership requirements with the current needs of the education sector while ensuring participation in education remained open to all parties seeking to contribute to the country’s development.
“The Education Ministry appreciates the contributions of all private education institution operators and will continue to work with all parties in the interest of Malaysian students,” the statement added.
