Ok got a bit more time to type this out. If you live outside Malaysia, this will sound crazy. Tuition centre owners here are being told: find a Bumiputera partner, give them 30% equity by 2027, or you may have problems renewing your licence. Quick 101 for non-Malaysians so you understand what “30% Bumi equity” actually means. Bumiputera means “sons of the soil" literally. In Malaysia it mainly means Malays and the indigenous peoples of Sabah and Sarawak. Chinese Malaysians and Indian Malaysians are citizens. They are not Bumiputera. It is its own legal category that shows up in licences, loans, housing quotas, government contracts, and company ownership rules. Where does the 30% come from? After the 1969 race riots, Malaysia rolled out the New Economic Policy (NEP). The original big idea is to restructure the economy so Bumiputera own a larger share of corporate wealth. The famous target was about 30% Bumiputera equity ownership in the economy. 30% equity means you as a business owner need to find a Bumiputera to "buy" 30% of your business from you. I put it in quotation marks because in most cases, it means buying at a heavy discount. Hope you learn something about Malaysia today.