Privatisation in Malaysia
LE 4000
ENGLISH FOR ACADEMIC PURPOSE
2ND DRAFT
TITLE:
SHOULD CURRENT PRIVATIZATION PRACTICES BEING FURTHER IMPLEMENTED AS ONE OF THE GOVERNMENT POLICIES IN CATERING PUBLIC NEEDS AND IN ENSURING SERVICES QUALITY?
DEPARTMENT OF ACCOUNTING
KULIYYAH OF ECONOMICS AND MANAGEMENT SCIENCES
SECTION 15
TUTOR: BRO. SHAHRIZAL
PREPARED BY: MOHD. AIZAT BIN ALI
Introduction
In early decades of the 18th century, privatization had been introduced into the market. This new economy reforms started in western world, followed further by its implementation in Asian region in later years. Privatization is a policy whereby the ownership of an entity or controlling right of an entity being transferred from government to private sector. Privatization also being referred as denationalization following the impact behind it, it is privatization reducing government control over economy activities. There are various mechanisms available to implement this policy. Privatization can be carried out by selling the equity or assets of an organization. This is the most common way implemented nowadays, for example government of Malaysia sells its holding share in Malaysia Airline System to private party several years ago. Privatization also being implemented by outsourcing certain services, like most of the highways and roads built in Malaysia is outsourced to private companies.
Historically, privatization in Malaysia is intended to achieve socio-economic goal as stated in the eighth Malaysia Plan (RMK8). The main agenda of the implementation of privatization is to restructure the economic activities for ethnics in Malaysia and to increase the equity holding of Bumiputera in economy. British colonialism in Malaysia had left us with clear distinctive function of ethnics in economic sector. For example, Malay and Indian settled in rural area mainly involved in agriculture activities, while Chinese controlling the business activities in town and cities. This condition resulted to
ENGLISH FOR ACADEMIC PURPOSE
2ND DRAFT
TITLE:
SHOULD CURRENT PRIVATIZATION PRACTICES BEING FURTHER IMPLEMENTED AS ONE OF THE GOVERNMENT POLICIES IN CATERING PUBLIC NEEDS AND IN ENSURING SERVICES QUALITY?
DEPARTMENT OF ACCOUNTING
KULIYYAH OF ECONOMICS AND MANAGEMENT SCIENCES
SECTION 15
TUTOR: BRO. SHAHRIZAL
PREPARED BY: MOHD. AIZAT BIN ALI
Introduction
In early decades of the 18th century, privatization had been introduced into the market. This new economy reforms started in western world, followed further by its implementation in Asian region in later years. Privatization is a policy whereby the ownership of an entity or controlling right of an entity being transferred from government to private sector. Privatization also being referred as denationalization following the impact behind it, it is privatization reducing government control over economy activities. There are various mechanisms available to implement this policy. Privatization can be carried out by selling the equity or assets of an organization. This is the most common way implemented nowadays, for example government of Malaysia sells its holding share in Malaysia Airline System to private party several years ago. Privatization also being implemented by outsourcing certain services, like most of the highways and roads built in Malaysia is outsourced to private companies.
Historically, privatization in Malaysia is intended to achieve socio-economic goal as stated in the eighth Malaysia Plan (RMK8). The main agenda of the implementation of privatization is to restructure the economic activities for ethnics in Malaysia and to increase the equity holding of Bumiputera in economy. British colonialism in Malaysia had left us with clear distinctive function of ethnics in economic sector. For example, Malay and Indian settled in rural area mainly involved in agriculture activities, while Chinese controlling the business activities in town and cities. This condition resulted to