Malay Reserve Land Could Generate Capital To Malays, Says Keng Yaik

KUALA TERENGGANU, July 6 (Bernama) -- Gerakan adviser Datuk Seri Dr Ling Keng Yaik felt that the Malays could generate more capital for their businesses if the Malay reserve land policy was revised.
He said most Malay entrepreneurs were besieged by bank loans whereas they were owning land which could generate capital for their businesses.
"I notice that Malays are very sensitive when we raise this issue but I have only good intention. What I can see from my experience in implementing the New Economic Policy (NEP) for more than 30 years, the Malays were bogged down by lack of capital.
"They find it difficult to get bank loans, but if they have inherited land they could sell or rent it in the open market including to non-bumiputeras to be utilised and developed.
"If it is leased the payment is very low but if it is sold in the open market you get more money, you don't have to borrow from banks which charge high interest," he told reporters after opening Wisma Gerakan Terengganu at Jalan Tok Lam here today.
Dr Lim who is also Energy, Water and Communications Minister said although Malay reserve land was a sensitive issue, it could be discussed openly and professionally without stirring emotion because it could help solve the problem of Malays who were indebted to banks.
"I know this issue is sensitive because I'm not a Malay, the Malays might think this Chinese wanted to gobble their land. But as a politician who has been with Barisan Nasional since 1974, I can see that this can be turned into a win-win situation.
"We have to talk about it, discuss and agree on it, without stirring emotion," he said.
He said a lot of Malay reserve land were tied to certain conditions whereas they fetched a high market value.
"If the land is merely for family use definitely it has no value. I want the land but you don't want to sell it to me and if the land is sold to one or two individuals only and they don't want to use the land, it would also be worthless," he said.
He said although the government had allowed Malay reserve land to be leased for 60 years, it was difficult for developers to develop it as it would revert to its original status after that and new owners would not reap its true value.
Asking Gerakan to discuss the idea with Umno, he said, "If it is agreeable it could be studied thoroughly before a proposal is submitted. But don't make it an issue which could cause disunity among people of various races in the country."

tunku : i think Keng Yaik intention is good when he brings up this issue. we should not use our emotion but use our good brain.there are lots of malay reserve land which has very good location and value.may be the government and umno should really think how to develop this lands and at the same time the owners interest and benefits be secured.