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Thread: Cancel your Maybank & Credit Card Accounts?

  1. #1
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    Talking Cancel your Maybank & Credit Card Accounts?

    Bumiputera partner in legal firms: Bar Council cries foul over banks’ discriminatory ruling

    ( admin note - please do not copy-paste from e-media sources. The link below is enough. If you need to highlight some issues, please write in your own words, do not copy. The copy-pasted material have been removed )


    http://www.nst.com.my/Current_News/N...cle/index_html

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    "judged on merit" ... is she really the Malaysian BAR Council President? Where the heck has she been the last 30 years? Merit in Malaysia? Look up oxymoron in your dictionary lah

    ala Astro, just unsubscribe from ALL your Maybank accounts including credit card :-)
    Last edited by kwchang; 07-05-2007 at 06:23 PM.
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  2. #2
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    Which is the other bank?
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  3. #3
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    No big deal if they wanna have bumi requirement. It is a open practice with all the GLCs anyway...What's the fuss if one has been accepting being marginalised in this country.

    If you feel like it, cancel your accounts to prove a point.
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  4. #4
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    Thumbs up what the..

    Suap Suap...sudah kenyang? suap suap.. lol..

    Dis- G R A C E
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  5. #5
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    Another "bumiputra affirmation" policy? So what's new huh?

    Tomorrow you register you own sole prop. company and (if your business is successful) the Govt/Bank/SSM will ask you to get a bumi partner or risk losing your registered ownership..

    Damn!
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  6. #6
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    Being racism should be charged under ISA???
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  7. #7
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    Quote Originally Posted by pokemon
    Being racism should be charged under ISA???
    hello....
    see WHO is the one initiated first...
    It's not surprised to see the ones defending their rights get charged under ISA.
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  8. #8
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    note that the Takaful boo boo over Deepavali...also part of Maybank group.

    No wonder Msia is loosing on the competitive side with other countries. Other countries choose the best for a job regardless of race or religion, here....Malaysia Boleh!! Looks like Maybank becoming best buddies of UMNO Youth and KJ. Are they run by business people or politicians? When politicians run business, you know what happens to that business.

    Will they impose new rules on depositors?

    Will Maybank ask the same of the lawyers in Singapore who deal with them and the other 49 countries they operate in?
    Eye of the Tiger!!!
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  9. #9
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    Pick up TheEdge (May7-May13 2007) and read page 5, "Relax the bumi ruling". In that short piece, it mentions that the Ministry of Finance had passed a circular 2 months ago to relax bumi share-holding requirements of listed companies to obtain bumi-status. The requirement was reduced from 51% to 35%.

    In this article it mentioned a "leading bank" imposing conditions on legal firms on its panel must show 50% bumi ownership - same story lah.

    The question now is why are these institutions not following the finance ministry's circular?
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  10. #10
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    Quote Originally Posted by sirgalahad2010
    Which is the other bank?
    The other bank is AmBank, according to a report in the Spore Straits Times today. It reported that AmBank required law firms on its panel to have a bumiputera partner, but did not specify the equity share.

    The report quoted the Malay Chamber of Commerce president, Datuk Syed Amin Al-Jeffri, as saying that bodies like the Bar Council should be more far-sighted.

    "In any business, there has to be sincere partnership between the races", he was quoted as saying in the Berita Harian yesterday.

    Indeed, but you cannot build a Malay entrepreneurial class by throwing public funds away.

    Being an entrepreneur means risking your own capital to pursue an idea or business that you fervently believe in. And then convincing hard-headed angel investors and venture capitalists to invest in your start-up with the hope of a big payday down the road.

    What is contrarian is a "Santa Claus" govt playing the role of both angel investor and venture capitalist, using public funds. Where is the oversight and the accountability?
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  11. #11
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    Quote Originally Posted by kwchang
    Pick up TheEdge (May7-May13 2007) and read page 5, "Relax the bumi ruling". In that short piece, it mentions that the Ministry of Finance had passed a circular 2 months ago to relax bumi share-holding requirements of listed companies to obtain bumi-status. The requirement was reduced from 51% to 35%.

    In this article it mentioned a "leading bank" imposing conditions on legal firms on its panel must show 50% bumi ownership - same story lah.

    The question now is why are these institutions not following the finance ministry's circular?
    See my post in the Maxis thread about the possibility of NexNews (the owners and publishers of The Edge) being taken private and delisted from Bursa Msia!
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  12. #12
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    Hi sirgalahad2010 - can you please provide the link identifying AmBank as the other bank.

    Btw, is AmBank still under Tan Sri Azman or ANZ?

    Thanks.
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  13. #13
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    50% equity for bumi parters to operate legal firm.

    Which stupid /bird brain, minister has given the two major banks to enforce this requirement on the legal firms.
    Hope the other banks are not involve.
    Just close your accounts and move over to the next bank.
    What will they be coming up next???
    IP

  14. #14
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    Quote Originally Posted by Shaneburger
    Hi sirgalahad2010 - can you please provide the link identifying AmBank as the other bank.

    Btw, is AmBank still under Tan Sri Azman or ANZ?

    Thanks.
    It was in the Spore Straits Times (http://straitstimes.asia1.com.sg) today, page 15. A report "Maybank's bumiputera rule sparks outcry" by Carolyn Hong, the paper's Msia Bureau chief.

    (btw, you will not be able to access the report as it is a paid-access website).

    Quote: "Maybank is the second bank to take such a step this year. Earlier, the Malay-controlled AmBank also required firms on its panel to have a bumiputera partner, but did not specify the equity share......."

    As far as I know, ANZ does not have a controlling stake in AmBank. In any case they can't, unless specifically approved by Bank Negara.
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  15. #15
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    My Aussies business partners just shake their head and laughed this off...All this affirmative actions are butt of jokes among them.
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