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The NEP was created in 1971 with the aim of bringing Malays a 30% share of the economy of Malaysia and eradicating poverty amongst Malays, primarily through encouraging enterprise ownership by Bumiputeras. After 40 years of the program, bumiputra equity ownership rose to 23% worth RM167.7 billion in 2010 against 2.4% in 1970.
Launched on 21 September 2010, [1] it is a comprehensive economic transformation plan to propel Malaysia's economy into high income economy. The program will lift Malaysia's gross national income (GNI) to US$523 billion by 2020, and raise per capita income from US$6,700 to at least US$15,000, meeting the World Bank's threshold for high income nation. [2]
A Shell filling station in Sabah, Malaysia. Shell discovered the first oil well in Borneo in 1910, in Miri, Sarawak. Today, the oil well is a state monument known as the Grand Old Lady. In 1914, following this discovery, Shell built Borneo's first oil refinery and laid a submarine pipeline in Miri. [163] [164]
As of 2012, the EPF functions by requiring a contribution of at least 11% of each member's monthly salary and storing it in a savings account, while the member's employer is obligated to additionally fund at least 12% of employee's salary to the savings at the same time (13% if salary is below RM5,000). [5]
The New Economic Policy (NEP) which began with the Second Malaysia Plan (1971–1975) and lasted until the Fifth Malaysia Plan (1986–1990), had three main objectives, namely: [1] To achieve national unity, harmony and integrity; Through socio-economic restructuring (of the society) To minimize the level of poverty in the country (poverty ...
The National University of Malaysia (Malay: Universiti Kebangsaan Malaysia, abbreviated as UKM) is a public research university located in Bandar Baru Bangi, Hulu Langat District, Selangor, Malaysia. Its teaching hospital, Universiti Kebangsaan Malaysia Medical Centre (UKMMC), is located in Cheras and also has a branch campus in Kuala Lumpur .
Donald Trump mocked Canadian Prime Minister Justin Trudeau after his top minister’s surprise resignation following a clash on how to handle the president-elect’s looming tariffs.
[citation needed] Admission requirements vary tremendously among Canadian universities and colleges, but in general both graduate students, as well as undergraduate students having completed a Bachelor's degree, can apply to such a program. The graduate certificate can represent part of the coursework required for obtaining a Master's degree. [1]