The Prime Minister of Malaysia, Datuk Seri Najib Tun Razak revealed that he will select 1,100 companies on the basis of their status at stock exchange, to assist the Bumiputera entrepreneurs, and the Unit Peneraju Agenda Bumiputera (TERAJU).

The companies will further be provided with the support of the government to make them stronger in the market and their names were going to be declared after 2 to 3 months, revealed Najib in a speech while in a the two-day conference on the project.

As per Najib, “This programme represents a new approach based on meritocracy among Bumiputera with no question of cronyism but only help those who can truly succeed”. He further stated that the Government has decided to take the measure after considering the failure of initial public offering (IPO), which will not work for Bumiputera.

Presently, the Government is looking for the companies, which were suitable to be included in the project and that the companies only required assistance in the Securities Commission (SC). Najib stated that the Bumiputera entrepreneurs need to change their technique of working in order to improve their business.

Najib stated that he expects the Bumiputera entrepreneurs to believe in the measures being implied to bring a change the change can acquire the country the status of a developed nation by January 1, 2020.