PUTRAJAYA: Permodalan Nasional Berhad and Khazanah Nasional will sell or outsource 10 non-core businesses to suitable bumiputra companies to increase Bumiputra equity, said Prime Minister Datuk Seri Najib Tun Razak.
He said the bumiputra companies would be selected from among the 80 high-performing companies through an open tender process.
Najib said this, along with other announcements, after chairing the Bumiputera Agenda Action Council meeting at his office.
“We will request PNB and Khazanah to undergo a divestment process on their non-core businesses, which have a potential to be managed by qualified Bumiputra companies,” Najib said.
The number of high-performing companies, known as Teras, were selected based on their field of business.
The Teras companies, said Najib, were given assistance to boost their management, financial, and technological abilities.
He also announced the appointment of Raja Azura Raja Mahayuddin as the chief executive officer of a multi-million dollar education foundation for Bumiputra students to be funded by corporate sponsors.
