Bumiputeras Earn 20% Lesser Than Other Races
Bumiputeras in the country are finding it difficult to own property because their average income is a fifth less than other communities, said the Malay Economic Action Council (MTEM).
Salary growth is more sluggish compared to wealth growth via investments, and hence, those who rely on salaries to generate capitals would not be fruitful, Erhandfadli Mohd Azrai, chief executive of MTEM told Utusan Malaysia.
“The obvious limitations is a lack of wealth generation. How are we supposed to chase or lead the race if we are walking while others are running?” he was quoted in the report.
Bumiputeras recorded 39.5% property transactions in 2014, which was still lower than non-Bumiputeras at 53.4%.
“The average salary growth is only 8%. Meanwhile, the growth of investment assets averages at 15% a year.
“Salary growth is clearly is clearly slower because salaries rely on limited working hours,” he added.