Retrospective 51% Bumi rule on freight firms ‘unconstitutional’, says Guan Eng

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Freight forwarders want the requirement on having 51% Bumiputera ownership in their companies to be deferred to the end of next year. (File pic)PETALING JAYA: Lim Guan Eng says he rejected the proposal to enforce the 51% Bumiputera ownership requirement for freight forwarding companies when he was the finance minister in the Pakatan Harapan government.The Bagan MP told FMT that the proposal to enforce the requirement had been raised during his tenure, but he did not approve it.“I rejected the proposal on the basis that it cannot be applied retrospectively.“That is unconstitutional and unfair to the companies.” Lim Guan Eng.He said should any freight forwarding company owner suffer losses in complying with the new 51% Bumiputera ownership rule, then the government would be liable to compensate them.“It is unfair to those who have built and invested in the companies over many yea…