Thursday, 10 May 2007

MayBank

I don't believe the story until I fully read the article today on The Star Online. Apparently Maybank had no intention of doing any business with any law firm unless they have bumiputra who holds 50% equity in the law firm? That is outrageous! Maybank issued a statement sayingg that it is always their policy because they want to encourage bumiputra to be successful. What sort of justification is that?


I mean, why couldn't they say that it is a must that non bumiputra should hold 50% stake in the law firm before they will start thinking of doing business with the law firm? I don't get it.


I can understand the argument of Maybank where they are trying to help bumiputra but would this argument hold any weight? By having bumiputra holding 50% equity in the law firm, I think it will only do more harm than good.


They will feel that they are invincible thus might have negative impact on their personal development because they think that it is a policy that Maybank has come out with and MayBank is the largest bank in the country. Their business is huge so if law firms were to survive, they will have to comply to Maybank's policy. Otherwise Maybank will not provide business for law firms. It is just simple. When you are in power, there is a chance that an abuse of status will occur, just like AmBank.


It is a good decision by the cabinet to ask MayBank to drop its policy (only deal with law firms with bumiputra having 50% equity in the firm) with immediate effect. Bravo!

5 comments:

Anonymous said...

The Malaysian Cabinet has officially instructed Maybank Malaysia to end this discrimination immediately. Maybank has immediately responded to the Government's instruction & ended the discriminatory clause. So the issue is settled & thanks to the PM & Ministers. Looks like Maybank tried the usual cheap malaysian stunt of gaining favour of the Government & Malays, it was clearly a Business Propaganda!

Anonymous said...

Lim Kit Siang was fumming in Parliament yesterday because the Parliament Celing started leaking & it wet him! Ha! Ha! Ha! Ha! Ha!

ぜるもう said...

Hahahaha... Tell me about the poor workmanship of those builders. Well, res ipsa loquitor!

Anonymous said...

I am OUTRAGED, MAD & VERY DISGUSTED at a Barisan Nasional MP for his unwanted remark to a Female DAP MP. She was enquiring about numerous leaks lately in new government buildings. This BN MP answere her, 'Well, you leak once every month too!'. This uneducated BN MP should not be fielded in as a candidate in the upcoming General Elections! He is shallow & barbaric! In short, KURANG AJAR!

ぜるもう said...

I think the particular MP should be sacked for his ignorance. Although MPs are immuned within the walls of the Dewan Rakyat, nevertheless, it is just rediculous. He should be questioned over his remark.