The Malaysian Bar - Senators support Maybank's pro-bumi policy

Home

News

Bar News/Berita Badan Peguam

Senators support Maybank's pro-bumi policy

Monday, 14 May 2007 10:15pm

Datuk Syed Ali Alhabshee • GLC perlu bangun agenda bumiputera
• MECD siasat aduan firma kena pinggir
• Indian contractors cry foul over lack of govt jobs

©Bernama (Used by permission)

KUALA LUMPUR, May 14 (Bernama) -- Several members of the Dewan Negara today voiced their support towards the policy of Malayan Banking Bhd (Maybank) in requiring legal firms to have 50 per cent Bumiputera interest for them to become its panel of solicitors.

The bank should continue with the policy and not to bow to pressures from any quarters who were unhappy with it, they said.

Senator Datuk Syed Ali Alhabshee described the policy as positive to narrow the gap between the Bumiputeras and non-Bumiputeras in terms of the number of legal firms that were made panels of solicitors in the banking sector.

"I want to ask Hong Leong Bank and Public Bank, how many bumiputera legal firms have they appointed as their panels," he said when debating the motion of thanks for the royal address.

He said the decision by Maybank to impose the 50 per cent requirement was appropriate to enhance Bumiputera interests in legal firms involved in the banking sector.

He said that all the while, it was difficult for Bumiputera legal firms to get contracts or deal with other banks and Maybank's move should not be regarded as racist.

Senator Datuk Azizah Abd Samad also supported the move and described it as the bank's social obligation to the Bumiputeras.

"The decision was made by the management of Maybank without pressure from any quarters and as such should be respected and not questioned by any quarters at any forum," she said.

On May 4, Maybank issued a statement that any legal firm wishing to do business with the group must have to have three partners, including a Bumiputera with 50 per cent equity in the company.

The Dewan Negara sits again tomorrow.

Set as favourite

Email This

Comments (3) Add Comment

Subscribe to this comment's feed

Senators support Maybank's pro-bumi policy
written by Jaspal Singh Gill, Tuesday, May 15 2007 01:21 am

Mr Senator, you state "I want to ask Hong Leong Bank and Public Bank, how many bumiputera legal firms have they appointed as their panels". Mr Senator, have you considered the question whether Hong Leong Bank and Public Bank have any policy making it mandatory for any legal firm to require a 50 per cent Chinese or Indian interest before it can apply for panelship? Would you object if these banks indeed have such a requirement?

Jaspal Singh Gill

NEP
written by Lim Kock Hooi , Tuesday, May 15 2007 08:03 am

The NEP is a never-ending policy, it just changes name along the way. Also, it seems to work only one way. Look at the composition of the civil service, the police, the GLCs - does it reflect the ethnic composition of this country? What is mine is mine, what is yours should be mine. That's the name of the political game - being glocal, being competitive against global players, ------- that is mere rhetoric. Just wondering aloud, when the legal services sector is fully opened up, as it will if Malaysia is not to renege on its WTO commitnment, will such a discriminatory practice (e.g. insisting that foreign investors taking facilities from Maybank use bumi legal firms) be still allowed?

Lim Kock Hooi

Shallow Thinking
written by Mohan Sivasubramaniam, Thursday, May 17 2007 11:56 am

It seem that some people never understand that the nation has progress. Reverse the situation whereby all depositors, would be loan seekers etc only deals with Maybank if they have the required equity. This would be fair and beleive me many of my friends are not opening an account at Maybank as a sign of protest. This would be the begining of Maybank's downfall. To my bumi colleague's it is an insult to them as they have progress far beyond what our so called learned senator's and economist think. A sad day for all of us.

Write comment

You must be logged in to a comment. Please register if you do not have an account yet.

< Prev		Next >

[ Back ]

Transmenu powered by JoomlArt.com - Mambo Joomla Professional Templates Club