The Carve Out and Compete initiative, for Bumiputra companies, has generated a value of RM50.8bil worth of contracts via various mega projects identified by the government, said Prime Minister Datuk Seri Najib Tun Razak. He said the Government has for instance allocated 45% from the total contract of the RM9bil Light Rapid Transit (LRT3) project to Bumiputra contractors via the initiative led by the Bumiputra Agenda Steering Unit (Teraju).

“Qualified Bumiputra companies should compete among themselves to get the contract for the projects based on merits. In line with the mission, Bumiputra companies should be empowered and given equal opportunities to improve its capacity and capabilities,” he said in his speech after chairing a meeting with representatives of the Malay Economic Action Council (MTEM) in Parliament.

The LRT3 mega project will consist of 26 stations (25 elevated and one underground) spanning over 37km starting at Bandar Utama and terminating at Johan Setia in Klang. The alignment will pass through Klang, Shah Alam and Petaling Jaya, which have been identified as areas with high demand.

Other projects that were listed under the initiative, were the first two lines of the MRT project, where 45% or RM22.4bil was awarded to Bumiputra companies while for the Pan Borneo Highway project RM8bil or 53% had been allocated to Bumiputra firms.

Datuk Seri Najib, who is also the Finance Minister, said the government had adopted such measures to improve the Bumiputra agenda and subsequently boost the country’s economy. He stressed that the awarding of projects under the initiative specifically for Bumiputra companies will not delay the implementation of iconic projects, such as the LRT and the Mass Rapid Transit (MRT), as well as the Pan Borneo Highway project. “All of the projects are being implemented on schedule and some even completed earlier than the scheduled time.

“With such initiative, we hope that we will see more Bumiputra entrepreneurs nationwide and to continue to move forward and compete with each other,” added Datuk Seri Najib.

Meanwhile, bumiputra business dealers have also been empowered after the government injected a total of RM5mil to the Capital Market Development Fund (CMDF) for the Bumiputra Dealer’s Representative Education Fund. The fund is aimed at producing 100 internationally recognised market development experts and training 1,000 Bumiputra business representatives to obtain professional certificates including the Chartered Financial Analyst (CFA), Diploma in Technical Analysis under the UK Member Society for Technical Analyst (MSTA), and Certified Financial Planner (CFP), among others.

Source: The Star