How many Bumi firms are on your panel? At the Dewan Negara yesterday, Senator Syed Ali Alhabshee wanted to know how many Bumiputera legal firms have these two Chinese-owned local banks appointed to their panel of lawyers. Syed Ali was defending Maybank's policy requiring legal firms to have at least 50% Bumiputera equity if they wish to join its panel of solicitors. Another Senator, Azizah Abd Samad, also praised Maybank's move to do its bid for the Bumiputeras.
The Senators joined Umno's G7 who said the pro-Bumi policy is not a racist policy. Read the Bernama's story here.
Tuesday, May 15, 2007
A question for Hong Leong Bank and Public Bank
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We are going to celebrate 50th anniversary of Malaysia Independence this August. However, when this kind of racist policy (in this case, bank's policy) will be removed from the table?
ReplyDeleteI doubt, are they really want Malaysia be much better or on the other way round? Don't they really understand what so-called business is?
I m a partner in a legal firm.
ReplyDeleteMy another partner is chinese.
2 years ago we applied for panelship from public bank and hong leong.
Hong leong bank said their panel list was full.
Public Bank said they will consider our application if our firm's name start with chinese name only. Since my firm's name start with malay name, so our application will not be entertained.
Maybank also not that clean as they claimed to be. As far as i know, many chinese legal firm are on their panel.
SO....apa mau bising?
and also they have rudiculous policy for the Professional indemnity insurance, which a small firm like mine cannot pay for such coverage.
The argument is to oppose racist based policy, if Mayban does not impose any policy as to that effect, there is nothing wrong if all of its lawyers are Malays, but if she imposes the discriminating policy, 1% also not acceptable, the same goes to PBB and HLB.
ReplyDeleteBumi or non bumi, when will this argument will end? I don't give a damn on the race composition of the legal firm on the bank's panel. How will it benefits me? If the bank want to be racist, let the bank be racist. I put my money elsewhere and even take my business to foreign bank. If bank Islam give me a higher return to my deposit, I will put my money in Bank Islam. Period.
ReplyDeleteThe solution to this is to set up an Anti-Racial Discrimination Committee, membered by independent and professional member of the public.
ReplyDeleteDuh uh! Does is cross his mind that perhaps Public Bank and Hong Leong Bank only appoints Legal firms with reputation?
ReplyDeleteI wonder! . . I am not sure about NPL, perhaps, Maybank being the largest bank in the country also has a higher amount of NPLs...
Whats your take?
Don't you fella's ever learn "The more you give the more you are going to loose". Already we are lacking when comes to decent Malay lawyers, now we are going to loose the few we have. Doing S&P agreements are easier than going to court and fighting a case. What matters is money, make money doing S&P and with that money lobby for projects. To all the lobbyist of this 50% ruling, I suggest you take some time to read the meaning of glabalization - http://en.wikipedia.org/wiki/Globalization.
ReplyDeletePublic Bank and Hong Leong Bank have to come clean and reveal how many from their panel of lawyers are Bumiputra and how much work given to them. If lacking, give more to them. If not, nothing to hide. The question here is how much is considered adequate? 10%, 20%, 30% or 50%? Who sets the policy? Who governs the policy? These questions too must be answered.
ReplyDeleteHeck, while we are at it, why not all banks "kiss and tell"? Reveal! Let the matter go to the authorities and let them decide. Anyway, GE is near. If not done, may spiral to be a political issue if not already is.
I'm a local-indian lawyer. Is there any Indian owned bank in M'sia that can put me on their panel? Otherwise, i think i better "balik india" as previously suggested by some of our learned MPs.
ReplyDeleteEveryone's racist.
ReplyDeleteMalay retailers dont get the same terms or even price from Chinese wholesalers, Our mechanics don't enjoy the parts price from suppliers but hey its a free country what you discriminate against us we claw it back through affirmative action.
They have money we have political power. If they have both we have riots on the streets.
So how many Malay Lawyers do these Chinese banks have, just so we know just how fair the Chinese are when it comes to dishing out favours
ok it is not racist. it is discriminatory.
ReplyDeleteI happen to have tea with Pak Lay and we came to the conclusion that Maybank should not have such policy, from another point of view this is actually a self declaration that the Bumi are weak and incapable. How can we make such declaration without the world thinking that the Bumi are incapable?no, no….we cannot think this way. We should think that Bumi are as good as the non-Bumi and we can do better without the Tongkat.
ReplyDeleteThere will always be separations in this world. You have the richs and the poors. There will be the have's and have's not. And someone will be happy and someone else will be miserable. Sometimes, these separations are just monochrome and civil wars will start. Sometimes, they are coloured in religions and the world can goes up in flame. In Malaysia, the separation is usually brown, yellow, black and etc in between. It is time to put the separations aside and enjoy today before tomorrow comes. Tomorrow, life can put you in the other side of the separation. v9
ReplyDeleteKEEP PRODDING & LOSE MORE THAN YOUR BET!
ReplyDeleteENACT LEGISLATIONS RIDDING ALL SYNDICATES & TRADE CARTELS -- AND THEIR BUSINESSES WILL GO BELLY UP FIRST WITHOUT UNFAIR PRACTICES
YOU THINK THESE CHOWKIAS KNOW ANY OTHER WAY OF DOING BUSINESS?
Instead of the bumi lawyers having only a 50% share in the firm of lawyers to be on the bank's panel why not have only bumi partners of the law firm. Then, that law firm will have 100% bumi equity which should more than qualify them to be on the bank's panel
ReplyDeleteIf such a 100% bumi law firm still cannot qualify to be on the bank's panel they should ask why that should be so. Especially, when the bank is a GLC bank.
Perhaps, the answer is that such a 100% bumi law firm may not good enough to be considered to be on the GLC's bank panel.
In that case it is obvious that the policy is to enable the bumi lawyers (who may not be good enough for the bank) to take a free ride on the capabilities and abilities of the non bumi lawyers. They get 50% for not being good enough on their own. They need others to work for them. Such parasites
What about disciminatory empolyment policies by the government? Where are the non bumi civil servants, especially, at the higher levels?
ReplyDeleteit is interesting to note the extremism of comments in this blogs, for example xmm, cohong gym etc.
ReplyDeletethe issue of the day is, our system , be it politics or business, is deeply rooted within the racial mindset. The solution is to have a revolution rather than evolution. all the lawyers out there will claim some sort of discriminations they face at work, whether they are chinese, indian or malay. undoubtly, there will be some firms that actually practice merit-based selection, but let's be honest with ourselves, if it's a 50-50 selection, we will choose those of our same race (tolong brader sendiri la kan). The problem is then, when we have oversweeping ruling as suggested by Maybank and AMMB, then the very last bit of efficiency/fairness will be thrown out the window. our malay lawyers can then charge a premium for their mediocre services, because, the law specifies them as the CHosen one.
let's fight racism, against ALL races.
please work hard like any other people, do not expect to be feed(suap). all people with brain are capable of doing the same thing, unless you suffer brain damage.
ReplyDelete.
ReplyDeleteDont be naive. This is nothing but sensationalize racial issue for the coming G.E.
How many times must this happen before you realize that you are giving them a free P.R for the next G.E?
Let's down play this crap or better not play it at all.
.
The senators are opening a can of worms, lolx. It's good to be have transperancy all over the banking industry which I doubt they will comply. There's too many VVIPs out there screaming 'No mortgage or collaterals!" heheheh.
ReplyDeleteThis morning at 7.50am, a Malay gentleman from Mayban called me up to inform of 'not enough in your current account'. I thanked him profusely and rushed out to top up the account. Lesson 101 learnt...anon 1:07am is right...this thingy about racial discrimination is a crap and better not play it at all or it will divide Malaysians into colours. v9.
ReplyDeletepublic bank is the only bank in my town.
ReplyDeleteeach month i go there once.
i see 90% of the staff are bumi.
Should base on performance perhaps banks should set KPI for legal firm.
ReplyDeleteHow about those foreign banks like Citibank and Standard Chartered? How many Bumi legal firms on the bank's panel list.
XMM said...
ReplyDeleteEveryone's racist.
Malay retailers dont get the same terms or even price from Chinese wholesalers, Our mechanics don't enjoy the parts price from suppliers but hey its a free country what you discriminate against us we claw it back through affirmative action.
-That's because Malays are the ones always run away with ppls (incl the gov's) money
The main question is to select a panel base on the race is wrong!
ReplyDeleteNo matter you are Maybank, Public Bank, AMBank or HLB .. the wrong is always wrong.
In business,everyone has to 'fight' for contract.If you are incapable,you need to upgrade and be more competitive.Or consider to become an employee forever.It's just business,nothing personal.Be a respectable and genuine businessperson.Do not blend politics and legislation with business.You might not get the best person to do the work.That's why GLCs lost money despite assistance from the government.
ReplyDeleteI have a friend who asked me to adopt a turtle in rautau abang, terengganu.there is something like a turtle adoption program where we pay some money everymonth to the turtle sanctuary or something. i said for what? then he told me if the turtle grows bigger later, he can eat the turtle.
ReplyDeletewe are in a multi rascist country. right?
ReplyDelete