On 99 KPIs

In recent days, Prime Minister Datuk Seri Najib Razak announced that the government established 99 key performance indices (KPIs) specific for Bumiputera development.

Now I'm sure the likes of the Malay Economic Action Council (MTEM) and the many Malay economic and business non government organisations (NGOs) will be happy to hear such a pledge from him.

But I'm a skeptic.

The issue with the Bumiputera is threefold: lack of access to capital, lack of access to jobs and lack of access to education.

Lack of capital is what has been stymying the want for housing and even starting up a business. This is caused naturally by the lack of assets.

Owning land, something once natural to many a Malay family as an asset and source of income, is no longer seen commonplace with urbanisation.

The lack of access to jobs, and also education, stems primarily from the first mention lack thereof.

Without proper capital and income, the next generation is not equipped with proper access to education opportunities, and is thus stuck in a vicious cycle.

Throughout the ages, during the second Prime Minister's tenure, breaking of the cycle was through the establishment of the People's Trust Council.

You might know it by another name; Majlis Amanah Rakyat or MARA, was tasked and given public funds to bring up the Bumiputera population both academically and business wise.

But the issue that is now coming up in the 21st century is something that even MARA cannot handle, or if it could, it was taken out of their hands.

Once, there was a simple need to get the Bumiputera majority base educated. Now, quality is the main concern. And judging by the multiple thoughts and irksome comments about alma mater; "UiTM graduates can either be really smart or bordering bimbotic *******".

That's in quotation marks because it did not come from myself, but one of my former professors.

Similarly, access to capital is aplenty, but what is lacking due to the education safeguard gone wrong is the surety that the entrepreneur gains enough guidance and mentors to not waste public funds borrowed at below market interest rates.

Let me put it in questions.

How many venture capitalist Malays can you name?

And yet, there are many a successful startup groups aplenty in Malaysia.

Can you name a few?

Do we even have a Warren Buffett or Berkshire Hathaway equivalent for the Bumiputeras?

UiTM is doing its best to try to encourage a growing group of Malay entrepreneurs, but the issues are not being looked into.

Primarily, as one professor told me, it is the lacking of 2 qualities; interest and risk taking. Both of which even she is exasperated in handling, let alone get an entire government or the prime minister to pay attention to.

You can lift him on your shoulders all you want, but the truth is the Malay and Bumiputera communities need more done. At a time when we are talking about high income jobs, we have yet to have an entrepreneurial boomtown to have companies generating high incomes.

Take a look around and you will see that most of them are localised foreign companies or government owned companies, as well as non-Bumiputera companies. A simple look at the Bursa Malaysia will tell you that much.

Thus, even with 99 KPIs to measure the Bumiputera agenda, the fact remains that even if implemented it will not do any good.

It will look good in numbers and would probably lead to yet another chorus of "Everything Is Awesome" by this government, but the stark reality remains that it will again appear to show benefits for all, yet only real for the few.

This is why I just wonder why does one need 99 KPIs, when we as Bumiputeras only need one or two.

Get us off the crutch and proverbially running.

That's about it. – April 16, 2015.

* This is the personal opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insider.