‘New model needed to rev up Bumiputera economy’ 12 Apr 2021 / 08:42 H. Sunpix KUALA LUMPUR: Nearly 64 years after attaining independence, Malaysia’s bumiputera agenda has yet to bear the desired results. This is because poverty continues to haunt the biggest component of the nation’s population while bumiputera corporate equity ownership is still far below the government’s 30 percent target. According to media reports, the incidence of poverty among the bumiputera stood at 7.2 percent as of 2019, compared with 1.4 percent (Chinese) and 4.8 percent (Indians). As for bumiputera equity ownership, it stood at 16.2 percent in 2020 compared with 23 percent in 2011 and 19.3 percent in 1990. Addressing the widening economic disparity may be a huge challenge for the government as Malaysia readies itself to face the post-Covid-19 era because the pandemic has had detrimental effects on bumiputera economy and incomes.