PUTRAJAYA: A minimum of 30 per cent Bumiputera equity ownership is no longer a requirement for private limited companies operating private educational institutions (IPS) under the Ministry of Education (MOE).
The ministry said the decision was reached following discussions with the Ministry of Investment, Trade and Industry (Miti).
"This adjustment was made to meet the current needs of the education sector and ensure participation remains open to all parties wishing to contribute to the nation's educational development," MOE said in a statement on Monday.
The ministry noted the concerns raised regarding the 30 per cent Bumiputera equity requirement for specific IPS owned by private limited companies, as outlined in the IPS Policy Statement Book published in 2006.
It added that it appreciates the contributions of all IPS operators and will continue working with all stakeholders to benefit the education of Malaysian children.
