The Ministry of Investment, Trade and Industry (MITI) has clarified that it was not informed of the Ministry of Education’s (MOE) decision to remove the 30% Bumiputera equity ownership requirement for private educational institutions, including tuition centres.
In a statement today, MITI referred to the Education Ministry’s Sept 21 announcement on the revision of ownership requirements for private educational institutions under its jurisdiction.
“MITI wishes to clarify that the ministry has no knowledge of this matter,” it said.
The ministry further explained that matters concerning Bumiputera equity ownership policy fall under the jurisdiction of the Ministry of Economy, through the Economic Planning Unit (EPU).
MITI’s clarification comes a day after the Education Ministry announced that private limited companies operating private educational institutions under its jurisdiction would no longer be required to maintain at least 30% Bumiputera equity ownership.
In its Sept 21 statement, the Education Ministry said the decision had been agreed upon following discussions with MITI.
It said the revision was intended to address current needs in the education sector and ensure that opportunities to participate in private education remained open to all parties seeking to contribute to Malaysia’s educational development.
The ownership requirement had been outlined in the Private Educational Institutions Policy Statement Book published in 2006 and had raised concerns among private education operators, particularly tuition centres operating under the Sdn Bhd structure.
MITI said its latest clarification was intended to correct the public understanding of the ministry’s role in the matter and ensure that information communicated to the public remained accurate and clear.
