CAPITAL ACCUMULATION BETWEEN PETRONAS, GOVERNMENT AGENCIES AND BUMIPUTERA ENTREPRENEURS
The foundation of Petroliam Nasional Berhad (PETRONAS) was one way of increasing the bumiputera’s equity. This paved the way to improve the disparity in the Malay social economic conditions with other Malaysian races and subsequently enhanced Malay economic wealth. This article will explore how PETRONAS were able to consolidate the interests of bumiputera socio-economic needs which led to the creation of Malay middle class. The focus of the paper would be on the role of PETRONAS in expanding and sharing its business operations and profitability with government agencies and Malay entrepreneurs. The business expansion would be through the rationalization process to other bumiputera companies or the profit sharing measure through inter-capital relationship or inter-skill benefit.