By DayakDaily Team
KUCHING, Sept 23: Holders of existing Licence ‘A’ (container) approved before Sept 12 can continue to operate and renew licences without the 51 per cent Bumiputera shareholding requirement.
Commercial Vehicle Licensing Board (LPKP) Sarawak chairman Michael Kong Feng Nian said currently, Licence ‘A’ (Container) holders are subjected to an equity requirement policy which was established many years ago to encourage Bumiputera participation in the forwarding industry.
However, he said, over time, many existing companies have grown, diversified, and expanded their operations, which has naturally led to changes in their shareholding structure and no longer meet the equity requirement.
“In light of these challenges, I am pleased to inform that during the recent LPKP Sarawak Board meeting on Sept 13, the Board unanimously agreed to waive the equity requirement for all existing Licence ‘A’ (Container) holders,” he said in a statement today.
He added that the board also agreed that all new or additional Licence ‘A’ (non-container) applications from these companies can be processed and approved. — DayakDaily
