Ex-ITM student form a company

KUALA LUMPUR, Sat. A new bumiputra holding company has been set up to help the Government achieve the objectives of the New Economic Policy.

The company MIT Holdings Bhd. - will encourage bumiputra participation in business by purchasing shares on an instalment basis.

MIT Holdings chairman Encik Hashim Harun, who is also acting general manager of Rakyat First Merchant Bank, told a press conference today the company had obtained approval of the Capital Issues Committee (CIC) to offer 995,000 of its ordinary shares at $1 each through private placement to bumiputras, particularly to former students of the Institute of Technology MARA (ITM).