The government will update GLC procurement guidelines from 2027, with Bumiputera vendors assessed on business growth, innovation and their ability to penetrate new markets
The Malay Businessmen and Industrialists Association of Malaysia (Perdasama) has denounced efforts to boycott Petronas, asserting that a solution has been provided during a meeting between the government-linked company and its subsidiary.
The Finance Ministry has set that due diligence visits must be conducted to determine whether a company is eligible for Bumiputera status, and not solely based on documentation to ensure the authenticity of the company’s status.
