Malay Indian community to get scheme to boost its equity by 2020

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Kuala Lumpur, Sept.13 : The Malaysian Government has reportedly agreed to work out a mechanism to enable the Indian community to purchase shares.

The target is to allow three per cent Indian equity participation by 2020.

The Tamil Nesan daily and the New Strait Times quoted Malaysian Indian Congress (MIC) president S. Samy Vellu as saying that the country's Deputy Prime Minister Najib Tun Razak has given his assurances in this regard during their meeting in Putrajaya.

Describing the meeting as fruitful, Vellu said he had requested that the Permodalan Nasional Berhad (PNB) manage a scheme allowing Indians to own shares without going through the difficult process of getting bank loans.

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