Billions To Create Equity?
The RM1b Bumi property fund has a noble aim to increase Bumiputera ownership of prime commercial properties. The sell point is you buy some units of unit trusts and you are on the road to high income society and wealth? This will also ultimately create equity now for ownership of retail property and reduce the wealth gap between the bumiputera and the non bumis? Some may argue that it hardly scratches the wealth of non bumis owning real property or real property equities. Though there are no statistics to show non bumis hold billions in real property, 1Malaysia gives the impression that there is inequality in wealth ownership in the property sector. There seem this great need to equate equity in terms of wealth measurement, owning tangible things, from property to flashy cars one suppose or how expensive stuff are in non bumis home compared to bumis home or where non bumis go on holiday and perhaps how many pets they own or how frequent they eat out as well as where they sent their chi...