Saturday 12 May 2007

The MAYBANK Fiasco Remains Unresolved: Now it is the MALAY LAWYERS to Turn the Screws

"...The MAYBANK issue is turning into a RACIALLY DIRTY issue for the country.

Now, the MALAY LAWYERS have disagreed and disowned MALAYSIAN BAR COUNCIL's position on the issue of racial discrimination arising from this MAYBANK fiasco.

It is unfortunate for the nation that the racial understones on this issue still linger despite positive comments from the PM, DPM Najib and UMNO Youth Hishammudin. (Note: Umno Youth chief Datuk Seri Hishammuddin Hussein Onn had rightly 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. )

The dangerous onslaught by the Malay vernacular media with a racial stance and aggressive undertones on this issue is an unhealthy development. The Government must restrain this, with the coming 38th anniversary of the May 13, 1969 riots, this Sunday. (Note: Read here, earlier posting on the launching of Dr. Kua Kia Soong's book, "May 13,Declassified Documents on the Malaysian Riots of 1969")

What we have now is that even educated and experienced Malay professionals who unashamedly see almost every socio-economic concern facing the country through the prism of RACE. It is an indictment of Malaysian leaders in the last 40 years who had done well to inculcate in the minds of Malaysians (especially the Malays) to view the economic survival of race as a more critical imperative than the economic survival of the nation.

Malaysia's racial politics encouraged by the present Government are too institutionalised for issues like MAYBANK to be resolved harmoniously between races.

The underlying factor in this racial one-upmanship is simply:UNCONTROLLED GREED.

- "Malaysian Unplug"

UPDATE: 13th May, 2007:

Rocky's Bru Blog reported: Key Umno leaders now want Malayan Banking Bhd, lynched early last week for a ruling on a 50 per cent Bumiputera ownership for legal firms that want to get on its panel, to be allowed to retain the controversial ruling.

Utusan Malaysia has the story on its front page yesterday [Maybank diminta kekalkan semula syarat 50% pemilikan Bumiputera].

The article quoted seven Umno leaders, several from the governing Supreme Council of the party; namely,:

  • its vice-president Ali Rustam, who is also the Chief Minister of Melaka;

  • former Melaka Chief Minister and now chairman of Gagasan Badan Ekonomi Melayu (Gabem) Rahim Thamby Chik;

  • Umno liaison boss Muhammad Muhammad Taib;

  • Minister of Rural and Regional Development Aziz Shamsuddin;

  • Puteri chief Noraini Ahmad; and

  • Umno Youth leaders Subahan Kamal and Rizal Merican Neena Merican.

    Subahan said Maybank's new guidelines should not have been questioned by anyone as they are clearly aimed at safeguarding Malay interests.

    Since the Prime Minister has distanced himself from the Maybank guidelines [read here], it will be interesting to see how he responds to the Seven, and how this issue will develop, during the coming week.



  • Press Statement by Barisan Peneraju Pertubuhan Profesional Melayu & Pewaris Bangsa (ProWaris): Read here on
    Kami, Barisan Peneraju Pertubuhan Profesional Melayu & Pewaris Bangsa (ProWaris) dengan perasaan tidak puas hati serta kesal ingin mempertikaikan kenyataan MCA yang mempersoalkan polisi Maybank Berhad menetapkan syarat 50% rakan kongsi Melayu di dalam menentukan kedudukan panel peguam mereka.

    Setelah 50 tahun Merdeka, MCA masih lagi tidak sedar dan lupa bahawa hak Melayu sentiasa perlu DIKEKALKAN dan sama sekali TIDAK BOLEH DIPERSOALKAN sesuai dengan Hak Keistimewaan Orang Melayu dalam Perlembagaan Malaysia dan prinsip Dasar Ekonomi Baru.

    ProWaris dengan lantang mengigatkan bahawa hak memperolehi peluang untuk memberikan perkhidmatan dan pekerjaan adalah sebahagian daripada hak yang termaktub di bawah keistimewaan Banga Melayu dan menjadi prinsip utama Dasar Ekonomi Baru.
    Read here for more

    Presiden Bagi pihak Barisan Peneraju Pertubuhan Profesional Melayu & Pewaris Bangsa (ProWaris)

    11 Mei 2007
  • -- end of update --

    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.

    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.

    UTUSAN Malaysia had reported that Malay economists, lawyers and politicians had urged the Government to uphold Maybank's introduction of ownership criteria on legal firms that wanted to serve on the bank's panel to have 50% bumiputra equity.

  • Universiti Utara Malaysia economic lecturer Assoc Prof Asan Ali Gulam said the Government should encourage other banks to follow Maybank's example and not view it as being discriminatory towards other races.

  • Barisan Nasional Backbencher's Club acting chairman Datuk Raja Ahmad Zainuddin Raja Omar said that Maybank's policy was not meant to make Malays control the economy but to create a balance and give every race an equal opportunity.

  • Berita Harian also reported that the Malaysian Muslim Lawyers Association and several bumiputra legal firms supported Maybank. Read here for more and here

  • 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.


    Utusan also reported yesterday that its scrutiny of Maybank's criteria for the appointment of firms showed that the affirmative action criterion had NOT been scrapped.

    Utusan added that it was understood that a memorandum had been sent to all on Maybank's panel of lawyers to remind them of the criterion.


    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.

    Read below related articles:

    1 comment:

    Anonymous said...


    Utusan also reported yesterday that its scrutiny of Maybank's criteria for the appointment of firms showed that the affirmative action criterion had NOT been scrapped.

    Utusan added that it was understood that a memorandum had been sent to all on Maybank's panel of lawyers to remind them of the criterion.

    If this is true, it will spell the end for Maybank!

    Maybank will be seen as an business entity with racist undertone.

    How is this going to sound to non-bumi? You do the math.

    I for one will not do any more transaction with this pariah.

    These people do these thing and thought they done a good deed for their race, its just shooting themselves on the foot. Stupid!