The Call for Economic Inclusivity: DPMM’s Response to Petronas’ Actions

In a recent statement, the Malay Chamber of Commerce Malaysia (DPMM) expressed deep concern over Petronas’ decision to appoint a non-Bumiputera company, Solarvest Energy, for the installation of solar systems at 300 of its petrol stations. This move comes shortly after the Bumiputera Economic Congress 2024 (KEB 2024), where commitments were made to promote Bumiputera participation in the energy transition sector.

Petronas’ actions raise questions about its commitment to fostering Bumiputera opportunities, especially following discussions at KEB 2024, which emphasized Bumiputera involvement in energy transition initiatives. The lack of invitation to Bumiputera companies to participate in the bidding process further exacerbates the disappointment felt by DPMM.

It’s disheartening to note that Petronas only engaged three companies in the bidding process, excluding Bumiputera firms. Moreover, the substantial project cost of approximately RM300 million highlights the missed opportunity for Bumiputera businesses to contribute to such ventures.

DPMM highlights that 30% of EPC (Engineering, Procurement, and Construction) companies in Malaysia are Bumiputera-owned, with approximately 60 such firms listed in the Sustainable Energy Development Authority (SEDA). Therefore, Petronas should have provided ample opportunities for Bumiputera participation in alignment with the discussions at KEB 2024.

As a government-owned entity, Petronas should exhibit fairness and uphold Bumiputera agendas, considering its origins and the support it received from Bumiputera individuals and vendors. Denying Bumiputera companies opportunities in such projects undermines the government’s efforts towards economic empowerment.

The exclusion of Bumiputera companies perpetuates a historical trend of sidelining them in Malaysia’s economy. Despite efforts like KEB 2024 and the New Economic Policy (NEP), some leaders still cling to colonial-era narratives, hindering progress towards economic inclusivity.

DPMM urges for swift and decisive action to rectify the situation, emphasizing the need for continuous efforts towards economic empowerment. The time for reform is now, and collective action is essential to ensure the prosperity of all Malaysians.

In conclusion, DPMM’s message underscores the urgency of fostering economic inclusivity and the need for genuine commitment from all stakeholders, especially in sectors crucial to Malaysia’s development. It’s imperative for Petronas and other entities to prioritize Bumiputera participation, not just as rhetoric but as actionable steps towards a more equitable economic landscape.

By: Encik Norsyahrin bin Hamidon, President of DPMM.