PETALING JAYA: The bumiputra equity ownership policy is actually under the purview of the Economy Ministry, says the Investment, Trade and Industry Ministry (Miti).
Hence, it said it had no information regarding a media statement issued by the Education Ministry on Monday (Sept 21) night on the alignment of ownership requirements for private educational institutions under the Education Ministry.
“It is hoped that this clarification helps to accurately define the role of the ministry in this matter, ensuring that the information conveyed to the public is precise and clear,” it said in a statement Tuesday (Sept 22).
The issue first came to light when Petaling Jaya MP Lee Chean Chung posted on Facebook about a ministry guideline allegedly stating that private tuition centres must have 30% bumiputra equity in order to renew their licences from 2027 onwards.
Following backlash, the Education Ministry said on Sept 20 that it would propose a review of the ownership structure requirements for tuition centres at the Cabinet meeting next week.
On Monday night, the Education Ministry said it had removed the requirement for certain private education institutions operated by private limited companies to have at least 30% bumiputra equity.
It said the decision was made following discussions with 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.
