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Malaysian New Economic Policy
The New Economic Policy (NEP) ( (DEB)) was a social re-engineering and affirmative action program formulated by the National Operations Council (NOC) in the aftermath of the 13 May Incident in Malaysia. This policy was adopted in 1971 for a period of 20 years and it was succeeded by the National Development Policy (NDP) in 1991. Policy overview The New Economic Policy (NEP) which began with the Second Malaysia Plan (1971–1975) and lasted until the Fifth Malaysia Plan (1986–1990), had three main objectives, namely:Jeong Chun Hai @Ibrahim. (2007). ''Fundamental of Development Administration''. Selangor: Scholar Press. * To achieve national unity, harmony and integrity * Through socio-economic restructuring (of the society) * To minimize the level of poverty in the country (poverty eradication) The NEP was conceived as a two-pronged strategy for eradicating poverty for all Malaysians as well as reducing and subsequently eliminating identification of race by economic function ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Operations Council
The National Operations Council (NOC) or Majlis Gerakan Negara (MAGERAN) was an emergency administrative body which attempted to restore law and order in Malaysia after the 13 May Incident, 13 May incident in 1969, in the wake of the racial rioting which broke out in the federal capital of Kuala Lumpur. The NOC was announced on 15 May 1969, with Abdul Razak Hussein as Director of Operations, although the other council members were not announced until 17 May. From 1969 to 1971, the NOC governed the country in lieu of the elected government. In 1971, the NOC was dissolved with the restoration of Parliament of Malaysia, Parliament. Members of the Council The Director of Operations of NOC was Abdul Razak Hussein. The Prime Minister Tunku Abdul Rahman was not formally a member, but was consulted on major decisions for approval. Council Members * Minister of Home Affairs — Ismail Abdul Rahman * Minister of Finance — Tan Siew Sin * Minister of Works, Post & Telecoms — V. T. Sa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redistribution Of Wealth
Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals. Understanding of the phrase varies, depending on personal perspectives, political ideologies and the selective use of statistics. It is frequently used in politics, to refer to perceived redistribution from those who have more to those who have less. Rarely, the term is used to describe laws or policies that cause redistribution in the opposite direction, from the poor to the rich. The phrase is sometimes related to the term ''class warfare'', where the redistribution is alleged to counteract harm caused by high-income earners and the wealthy through means such as unfairness and discrimination. R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ninth Malaysia Plan
The Ninth Malaysian Plan (), abbreviated as '9MP', is a comprehensive blueprint prepared by the Economic Planning Unit (EPU) of the Prime Minister's Department and the Finance Ministry of Malaysia with approval by the Cabinet of Malaysia. The plan allocates the national budget from 2006 to 2010 in regard to all economic sectors in Malaysia. The blueprint was announced on 31 March 2006, and was unveiled by then Prime Minister Abdullah Ahmad Badawi in Parliament. The economic development plan was unveiled at a time when Malaysia was starting to recover from the Asian financial crisis and challenging economic conditions as a result of high oil prices. The US-led Iraq invasion in 2003 resulted in a rise in oil prices to about US$60/barrel by August 2005, which was a few months before the plan was unveiled. These two factors were mentioned in Prime Minister's speech when tabling the Ninth Malaysia Plan on 31 March 2008 besides SARS, bird flu, and the 2004 Boxing Day earthquake and tsu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Straits Times
The ''New Straits Times'' is an English-language newspaper published in Malaysia. It is Malaysia's oldest newspaper still in print (though not the first), having been founded as a local offshoot of Singapore-based ''The Straits Times'' on 15 July 1845. It was renamed as the ''New Straits Times'' on 13 August 1974. The paper served as Malaysia's only broadsheet format English-language newspaper; however, following the example of British newspapers ''The Times'' and ''The Independent'', a tabloid version first rolled off the presses on 1 September 2004 and since 18 April 2005, the newspaper has been published only in tabloid size, ending a 160-year-old tradition of broadsheet publication. The ''New Straits Times'' currently retails at RM1.50 (~37 US cents) in Peninsular Malaysia. As of 2 January 2019, the group editor of the newspaper is Rashid Yusof. In 2020, the paper was listed as the 5th most trusted in a Reuters Institute for the Study of Journalism, Reuters In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bumiputera (Malaysia)
''Bumiputera'' or ''bumiputra'' ( Jawi: , Native) is a term used in Malaysia to describe Malays, the Orang Asli of Peninsular Malaysia, various indigenous peoples of East Malaysia, and Peranakans. The term is derived from the Sanskrit language which was later absorbed into the classical Malay word (). This can be translated literally as "son of the land" or "son of the soil". In Indonesia, this term is known as " Pribumi"; the latter is also used in Malaysia but in a more generic sense to mean "indigenous peoples". In the 1970s, the Malaysian government implemented policies designed to favour bumiputera (including affirmative action in public education and in the public sector) in order to elevate the socioeconomic status of the economically disadvantaged bumiputera community. It was an effort to defuse interethnic tensions following the 13 May Incident in 1969 and to placate the Malay majority through granting them a privileged status over Malaysian Chinese and Indi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Orang Asli
The Orang Asli are a Homogeneity and heterogeneity, heterogeneous Indigenous peoples, indigenous population forming a national minority in Malaysia. They are the oldest inhabitants of Peninsular Malaysia. As of 2017, the Orang Asli accounted for 0.7% of the population of Peninsular Malaysia. Although seldom mentioned in the country's demographics, the Orang Asli are a distinct group, alongside the Malaysian Malays, Malays, Malaysian Chinese, Chinese, Malaysian Indians, Indians, and the Orang Asal, indigenous East Malaysians of Sabah and Sarawak. Their special status is enshrined in law. Orang Asli settlements are scattered among the mostly Malay population of the country, often in mountainous areas or the jungles of the rainforest. While outsiders often perceive them as a single group, there are many distinctive groups and tribes, each with its own language, culture and customary land. Each group considers itself independent and different from the other communities. What main ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jakarta Riots Of May 1998
The May 1998 Indonesia riots (), also known colloquially as the 1998 tragedy () or simply the 98 event (), were incidents of mass violence and civil unrest in Indonesia, many of which targeted the country's ethnic Chinese population. The events were mainly in the cities of Medan, Jakarta, and Surakarta, with smaller incidents in other parts of Indonesia. Under the Western-backed Suharto, there had been widespread and systematic discrimination against ethnic Chinese in Indonesia. The riots were triggered by corruption, economic problems, including food shortages and mass unemployment. It eventually led to the resignation of President Suharto and the fall of the New Order government, which had been in power for 32 years and heavily backed by Western powers such as the United States. The main targets of the violence were ethnic Chinese Indonesians, but most of the casualties were caused by a massive fire and occurred among looters. It was estimated that more than 1,000 peopl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuala Lumpur Stock Exchange
Bursa Malaysia (English: Malaysian Bourses or Malaysia Exchange) is the stock exchange in Malaysia. It is one of the largest bourses in ASEAN. It is based in Kuala Lumpur and was previously known as the Kuala Lumpur Stock Exchange (KLSE). It provides full integration of transactions, offering a wide range of currency exchange and related services, including trading, settlement, clearing and savings services. Along with the Securities Commission of Malaysia, the stock exchange regulates the capital market in Malaysia and, through its facilities, upholds the duty to manage and maintain order in the trading of stocks, bonds and derivatives. History Bursa Malaysia was established in 1930, when the Singapore Stockbrokers Association became an official organization of securities in Malaya. In 1937, it was re-registered as the Stockbrokers' Association of Malaya, but it still did not trade public shares. In 1960, the Malayan Stock Exchange was formed and public trading started on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gini Index
In economics, the Gini coefficient ( ), also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group. It was developed by Italian statistician and sociologist Corrado Gini. The Gini coefficient measures the inequality among the values of a frequency distribution, such as income levels. A Gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same. In contrast, a Gini coefficient of 1 (or 100%) reflects maximal inequality among values, where a single individual has all the income while all others have none. Corrado Gini proposed the Gini coefficient as a measure of inequality of income or wealth. For OECD countries in the late 20th century, considering the effect of taxes and transfer payments, the income Gini coefficient ranged between 0.24 and 0.49, with Slovakia being the lowest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions via open outcry at a central location such as the floor of the exchange or by using an electronic system to process financial transactions. To be able to trade a security on a particular stock exchange, the security must be listed there. Usually, there is a central location for record keeping, but trade is increasingly less linked to a physical place as mod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Initial Public Offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as ''floating'', or ''going public'', a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fifth Malaysia Plan
Fifth is the ordinal form of the number five. Fifth or The Fifth may refer to: * Fifth Amendment to the United States Constitution, as in the expression "pleading the Fifth" * Fifth Avenue * Fifth column, a political term * Fifth disease, a contagious rash that spreads in school-aged children * Fifth force, a proposed force of nature in addition to the four known fundamental forces * Fifth of July (New York), historic celebration of an Emancipation Day in New York * Fifth (''Stargate''), a robotic character in the television series ''Stargate SG-1'' * Fifth (unit), a unit of volume formerly used for distilled beverages in the U.S. * 1st Battalion, 5th Marines * The fraction 1/5 * The royal fifth (Spanish and Portuguese), an old royal tax of 20% Music * A musical interval (music); specifically, a ** perfect fifth ** diminished fifth ** augmented fifth * Quintal harmony, in which chords concatenate fifth intervals (rather than the third intervals of tertian harmony) * Fifth (chor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
