Australian Government's version of PNB likely to grow significantly if Art 153 type constitutional amendments are passed- Aboriginal and Torres Strait Islander Land and Sea Future Fund currently worth AUD 2.3 Billion, receives annual contribution from Australian Government, currently AUD 50 Million, but can increase very significantly if Aboriginals are granted Bumiputera recognition

 by Ganesh Sahathevan 

                                                                     

In  2019 The Australian Government established its version of the  Permodalan Nasional Bhd. 

It is called the  Aboriginal and Torres Strait Islander Land and Sea Future Fundand is currently worth AUD 2.3 Billion. 

According to its website:

The Aboriginal and Torres Strait Islander Land and Sea Future Fund (ATSILSFF) was established on 1 February 2019 by the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018   (ATSILSFF Act). It will support the making of annual and discretionary additional payments to the Indigenous Land and Sea Corporation (ILSC). The purpose of the ILSC is to assist Aboriginal persons and Torres Strait Islanders to acquire and manage land, water and water-related rights so as to attain economic, environmental, social or cultural benefit

Australia is currently considering a Constitutional amendment , called The Voice, which will introduce into the Australian Constitution an Article 153 type amendment that provides its Aborigines recognition similar to that provided Malays under Article 153. .

It is likely if that referendum passes , that the Aboriginal and Torres Strait Islander Land and Sea Future Fund will receive significant additional funding, and grow dramatically in size. The funding it can provide will make Aboriginal entities highly attractive business partners, as are Bumiputera entities in Malaysia.

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