Malaysia to de-restrict ownership in financial sector
Yesterday, Malaysia's Prime Minister Najib announced de-restrictions in 27 service business areas - and foreshadowed changes in the financial sector.
Najib said that the announcement would take place next week but that no further information would be released in advance to give the chance for yesterday's announcement in relation to e.g. health and computing sectors to be released from their obligations that 30% must be owned by "Bumiputras" - a group predominently consisting of Muslim Malays.
But he promised that the changes would be surprising.
However, some inward investments in de-restricted sectors will be subject to government permissions, and so a total relaxation of the rules is not expected.
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