KUALA LUMPUR: Maybank should always be “fair and just” to all, said Datuk
Seri Abdullah Ahmad Badawi.
The Prime Minister said the bank’s requirement that legal firms dealing with
them must have a bumiputra partner with at least a 50% stake was never a
government directive.
“It was their own internal administrative policy,” he said.
Following criticisms, the country’s biggest bank reversed this internal
guideline and said it would elect its panel of lawyers based on efficiency,
performance and merit, and not ethnic composition.
However, a Malay newspaper reported yesterday that Malay intellectuals were
asking for Maybank to retain the 50% bumiputra stake requirement.
Asked about this, Abdullah, who is also Finance Minister, said there was “no
need to ask Maybank to do this and that.”
“They know what is needed,” he added.
On Wednesday, the Cabinet directed Maybank, which is the country’s largest
financial group, to withdraw its requirement following criticism from various
groups including the MCA, Bar Council and the Associated Chinese Chamber of
Commerce and Industry.
The groups had said the guidelines were discriminatory and that selection of law
firms should be on merit and not ethnic composition.
MCA president Datuk Seri Ong Ka Ting said the Cabinet discussed the issue and
considered the matter resolved.
On Thursday, Umno Youth chief Datuk Seri Hishammuddin Hussein Onn said the
Maybank issue should be a lesson to all Malaysians as the country was a
multiracial one where a small thing could become sensitive.
Meanwhile, AmBank Group announced that all letters sent out to legal firms that
stipulated the requirement of bumiputra equity participation had been withdrawn.
“We would also like to apologise for any misunderstanding caused by the letters
which were issued over the last few days,” it said.
AmBank was also criticised for sending out letters to law firms requiring them
to have a bumiputra partner.
Yesterday, Perak Malay Chamber of Commerce youth chairman Saiful Adli Mohd
Arshad said the chamber fully supported Maybank’s requirement because it would
help increase bumiputra equity, especially among professionals.
Catrade Sdn Bhd chief executive officer Datuk IIyas Mohamed said the Cabinet
directive appeared to be inconsistent with its own policy of assisting Malays in
getting their share in the distribution of the nation’s wealth.
2012 Hotel Corporate Rates Attending seminars? Going for a holiday? Click on the link above to check out the list of hotel corporate rates for Members of the Bar, which is updated regularly.
Talk on Intellectual Property Law (10 Feb 2012) Organised by the Selangor Bar Committee, the talk on “Intellectual Property Law” will take place at 5:00 pm, at the Selangor Bar Committee Auditorium, on 10 Feb 2012 (Friday). The talk will feature Bahari Yeow Tien Hong. Click on the link above for more details.
Seminar on the Fundamentals of Bankruptcy Proceedings (21 Feb 2012) Organised by the Kuala Lumpur Bar Professional Development Committee, the seminar on “The Fundamentals of Bankruptcy Proceedings”, featuring Sanjeev Kumar Rasiah, will take place at 3:00 pm, at the Kuala Lumpur Bar Auditorium, on 21 Feb 2012 (Tuesday). Click on the link above for more details.
Seminar on the Fundamentals of Conveyancing (24 Feb 2012) Organised by the Kuala Lumpur Bar Professional Development Committee, this seminar featuring Jeremiah R Gurusamy will take place at 3:00 pm, at the Kuala Lumpur Bar Auditorium, on 24 Feb 2012 (Friday). Click on the link above for more details.
Mediation Skills Training Course (29 Feb to 4 Mar 2012) Organised by Bar Council, the Mediation Skills Training Course will take place at 8:30 am to 5:30 pm, at Raja Aziz Addruse Auditorium, Bar Council, on 29 Feb to 4 Mar 2012 (Wednesday to Sunday). Deadline for registration and payment is 17 Feb 2012 (Friday). Click on the link above for more details.
Talk on “Land Fraud: An Australian Perspective” (13 Mar 2012) Organised by IGIL, GSGSG and UUM COLGIS, this free talk featuring Quintin George Rozario of Delta Law, Brisbane, Australia, will take place at 9:00 am, at Dewan Seminar A, Pusat Konvensyen, Universiti Utara Malaysia, Kedah, on 13 Mar 2012 (Tuesday). To RSVP, contact Mr Abutt (04-928 4397; abutt@uum.edu.my).
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Circular No 021/2012: Application to State Authority for Consent to Transfer Properties
