Why is the debate on Asli's New Economic Policy (NEP) figures getting so hot? Can we all agree on bare facts, beyond dispute, simple and plain, without casting aspersion on either side?

The fact is that the Economic Planning Unit's calculation was based on the par value of share and without taking into account the enormous wealth of government-linked companies (GLCs) whilst Asli's figure was based on 2005 market value of the 1,000-odd companies listed on Bursa Malaysia and categorisation of 70% of the wealth of GLCs companies under bumuputera shareholdings.

So if we accept EPU's calculation, then we are short of 11% to achieve the targeted 30% bumiputera equity. If Asli"s calculation is adopted, then we are still short of 15% to achive 60% of equity.

Why 60% some quarters may ask? My answer is if you were to include all the GLCs' stable of companies, then 60% is the hidden target of government, assuming the total market capitalisation of GLCs is half of Bursa Malaysia market capitalisation.

The public can at least understand that the 30% target is based on the criteria as adopted by the EPU. On the other hand, if we were to adopt Asli"s criteria, then the original target of 30% has been well exceeded but it can be considered still short of 15% if the target is revised upwards to 60% due to the adoption of new and different criteria ala Asli.

It is clear from the arguments from both sides that the calculation method per se is not in dispute but just based on the different criteria used.

The new 60% target may sound alarming to some quarters but it is a fact. I do understand that this new target of 60% may trigger another heated round of debate but at least we can all debate based on common facts and well-known criteria in line with the principle of transparency.