Malaysia Joins Countries Looking at Employee Ownership

Malaysia, one of the world's fastest-growing economies, is now exploring employee ownership. Workers at its state-owned petroleum firm are being given the first shot at buying shares in the company, which is about to be privatized. Employees will be able to buy about $10,000 worth of stock, whose value analysts believe will at least double when the privatization is completed. In late August, about 40 Malaysian companies will attend a conference on employee ownership. The idea is being promoted as a way to attract and retain employees in an economy with a 2.3% unemployment rate.