|Application of Bumiputera Special Shares|
15 Jun 2011 09:47 AM
- These guidelines provide an explanation on the conditions and procedures to be complied with by individuals, companies or cooperatives when applying for Bumiputera Special Shares through the E-Form.
- Bumiputera investor interested in subscribing the special shares has to register with MITI by filling in the User-ID Registration Form at the MITI portal, before logging into the system.
- DEFINITION / CRITERIA OF BUMIPUTERA INVESTORS
- GENERAL GUIDELINES
- In line with the Services and Capital Market Act 2007, an investor who applies for shares that are worth less than RM250,000 is required to prove:
- for an individual, a net asset worth of at least RM3 million; and
- for a company, a net asset worth of at least RM10 million.
- Applications must be submitted within the specified timeframe. Applications received after the deadline will not be considered.
- Receipt of a complete application, including proof of financing, is not a guarantee that the applicant will be allocated the shares as applied. MITI reserves the right in deciding the number of shares to be allocated to each investor.
- An investor must carry out his own detailed and comprehensive analysis and evaluation on the performance of the company offering the shares.
- MITI will not be held responsible for any profit gained or loss suffered arising from the subscription of the shares.
- An investor must, to the best of his ability, take up all the shares allocated and make payment within the timeframe set by the merchant banker/company.
- Since a failure to accept the shares allocated will affect the listing processes and schedule of a company, an investor who rejects the allocation may be blacklisted.
- SUPPORTING DOCUMENTS REQUIRED
- Application Letter / Letter of Intent
- Investor's profile:
- Individual - Individual Profile Form
- Companies - Companies Profile Form
- Cooperative - Cooperative Profile Form
- Supporting financing letter from financial institutions
- Proof of financial capacity, such as:
- The latest Bank Statement, for the last three months
- Shares Certificate
- ASN, ASB, Tabung Haji
- Employees Provident Fund Statement
- Other documents proving financial capacity or ownership of assets
- For a company / cooperative, to submit the following additional documents:
- The Latest Audited Financial Report
- Board of Directors’ Resolution for the shares applied
- The Latest Form of Annual Return, Form 24 and Form 49 (for company only)
- SPECIAL BUMIPUTERA SHARES TO BE ALLOCATED
- APPLICANT TO PRINT OUT COMPLETED FORM AND SUBMIT BEFORE SPECIFIED DEADLINE TO:
Bumiputera Business Development Section
Entrepreneurship Development Division
MITI Putrajaya Level 7, Menara Usahawan
No. 18 Persiaran Perdana, Prescint 2