The Prime Minister, Datuk Seri Abdullah Ahmad Badawi should scrap the inequitable and unacceptable Maybank extension of the New Economic Policy (NEP) by requiring law firms on its panel to have at least 50 per cent bumiputra partnership.
Maybank has imposed the rule that with effect from 1-7-2007, one of the criteria for legal firms to be on its panel is that 50% of the equity of the partnership of the legal firm must be held by Bumiputras. For legal firms which are already on the Maybank panel, they have a year to comply with the new ruling.
Maybank, a government-linked company, has justified the new ruling on the ground that Malaysia was working towards improving the quality of service industries including the legal profession to face the challenges of globalization.
But this is a most unconvincing ground for the new Maybank ruling has nothing to do with the upgrading of the quality of service industries, whether legal profession or other fields. On the contrary, the opposite may be the case.
Furthermore, it will create new national divisions by undermining the nation-building process especially at a time when the country is celebrating the 50th Merdeka anniversary when Malaysians have discovered that the country had not made much progress in promoting national integration in the past five decades.
After the Ijok by-election, Abdullah asked MCA and Gerakan to explain why there was a swing of Chinese voters to the Opposition. Let MCA and Gerakan Ministers tell the Prime Minister that it is unfair and inequitable policies and measures like the Maybank ruling for 50% bumiputra partnership for legal firms on its panel which have aggravated disaffection and alienation in the country.
DAP MP for Bandar Kuching, Chong Chieng Jen, will move an emergency motion in Parliament tomorrow to protest and demand end of the unacceptable Maybank extension of NEP by requiring its law firms to have at least 50 per cent bumiputra partnership.
Let all Barisan Nasional MPs stand up to support the DAP motion in Parliament opposing the unfair and unacceptable Maybank extension of the NEP.
#1 by ccjett on Monday, 7 May 2007 - 9:13 am
[deleted]
#2 by ccjett on Monday, 7 May 2007 - 9:15 am
what’s the singular word of “babies” in malaysial?
babie?
babi?
baby?
#3 by Counterpoint on Monday, 7 May 2007 - 9:37 am
This is another classic example of how the original intention of the NEP ,of helping really needy Malays, gets abused.
Don’t the Malays, especially the ones that already established themselves feel any shame at all still being dependent on crutches and handicaps instead of actually working hard for the money?
#4 by Jimm on Monday, 7 May 2007 - 9:43 am
Let us not get carried away emotionally here. That’s what they want us to do and so singled out us for being ‘unhealthy’ Malaysian.
We all should act proffesionally here. Great to voice out. Act accordingly to avoid being used as scapegoats when they want to to put some names for ‘display’.
The Almighty will bless us all for ‘fighting’ this silence war for the righteousness to make this country a place for all.
#5 by madmix on Monday, 7 May 2007 - 10:29 am
as I said before, this will lead to other sectors imposing the 50% bumi requirement. This is not about lawyers able to get business if they are on the panel or not, this is about instituitionalising racism.
The only way to fight this is to boycott such banks if you can, like cancelling you credit cards; not taking housing or car loans from them if you are a new customer; withdrawing yopu FDs, etc.
#6 by Godamn Singh on Monday, 7 May 2007 - 10:47 am
Good idea madmix, your family, friends and you go first. But why is that I think you do not have a borrowing a/c with any bank anywhere for you to close?
#7 by k1980 on Monday, 7 May 2007 - 11:22 am
Next, will all private medical clinics be required to have at least 50 per cent bumiputra partnership before they can be licensed? And the petrol stations after that? Had the BN been defeated in Batu Talam, Machap and Ijok consecutively, this nonsense would never enter the mind of the racist govt. The above 3 victories enboldened BN to tighten the screws on the non-bumis
#8 by ihavesomethingtosay on Monday, 7 May 2007 - 12:25 pm
“izrafeil Says:
May 6th, 2007 at 11:55 pm
“do you know that 3/4 of the middle management in Maybank = Chinese?â€Â
Correction:
About 60% of the middle management in Maybank = Bumi!
I have work in Maybank for 30 years now” – kcb Says:
Well said man, let me point out the obvious…..
100% top management = BUMI
so, why the racism now?
#9 by sheriff singh on Monday, 7 May 2007 - 12:51 pm
Maybank, my bank of 25 years, now wants 50% bumi equity participation by its lawyers.
Since my insurance policies, credit cards, accounts and fixed deposits are 100% non-bumi, I have decided that I don’t qualify to be one of the bank’s clients.
Once my FDs mature, I will transfer all my balances and businesses elsewhere so that the bank will no longer have an issue with me. I urge you all to do the same.
Good bye, Malaybank.
#10 by smeagroo on Monday, 7 May 2007 - 1:36 pm
50% mana cukup? Another way of buying into the hearts of the bumi lawyers. Sure they will vote for BN come GE. I wonder after the low life rempits they hv targeted and now the “sharks” (pun intended) who will be their next recruit?
Having said this, I surely support for a 70% recruitment instead of 50%.
#11 by smeagroo on Monday, 7 May 2007 - 1:37 pm
But this isnt the end yet. Later the govt will require maybank to have at least 75% of customers to be bumi.
#12 by Jonny on Monday, 7 May 2007 - 2:00 pm
Easymoney. Ali baba style.
#13 by democrate on Monday, 7 May 2007 - 2:04 pm
Simple, stop depositing your money into this racist bank!
#14 by ccjett on Monday, 7 May 2007 - 2:35 pm
I have cancelled my credit cards and withdrawn my money from this MALAYSIAL-BANK.
Too bad I have 2 housing loan still locked-in, but count on me, after the lockin period of just another 2 years, I am sure to refinance them with Public Bank.
Shamed Malays
#15 by ccjett on Monday, 7 May 2007 - 2:49 pm
Here is my email to Malaysial-Bank:
“FOR THE FACT THAT MAYBANK IS A RACIST BANK (IMPLEMENTING THE SICK AND TIRED 50% BUMI SH*T ON PANEL LAWYER), PLEASE TERMINATE MY CREDIT CARD.”
#16 by smeagroo on Monday, 7 May 2007 - 3:00 pm
First they churn out 1/2 past six lawyers who cant get a job. Now the easy way for them is to tie-up with some firms (pinjam nama) and they can eek out a living. WHat’s next? Looks like in Msia when at first you supported them and they mae it big they will turn their backs on us all. Look at the astrocious fees we hv to pay now to use their services like atm and withdrawals.
#17 by kelangman88 on Monday, 7 May 2007 - 3:10 pm
k1980 Says:
Next, will all private medical clinics be required to have at least 50 per cent bumiputra partnership before they can be licensed? And the petrol stations after that?
All new petrol station is 100% own by bumiputra except those got their license 20 years ago.
#18 by sotong on Monday, 7 May 2007 - 3:14 pm
Thanks to our leaders/politicians, our country had lost her education battle to properly educate the people of the value of hard work and achievement.
What is the use of a certificate, degree, Master or PhD, if one is not prepared to work very hard for a long period of time(20 years) to build a successful business and contribute to the country.
The bad example set by our leaders/politicians – to make lots of easy and quick money by hook or by crook- are creating a grossly unfair and unhealthy business environment which are destroying our country’s economy and competitiveness in the globalised world.
There are very few real entrepreneur/businessman in the country.
#19 by Godamn Singh on Monday, 7 May 2007 - 4:15 pm
Boys, boys, boys! Cynicism and threats will not take you anywhere. We are here not only to vent our anger and frustration if need be but also to suggest new ideas and to suggest how change can be facilitated.
The fact that despite all the protests, and all the threats you guys still maintain accounts with banks like MayBank speak loud and clear. It is just all hot air.
#20 by Fort on Monday, 7 May 2007 - 7:28 pm
Let”s move our fund out while we have the oppotunity. If not one day all the banks may be required to follow the same rule. Then it will be too late.
I will do it! Tell all my friends to do it!
#21 by gan on Monday, 7 May 2007 - 8:43 pm
Say NO to racism. Stop all dealings with maybank to teach the racist bank a lesson. Anyway, there are many other banks to choose from. Maybank is not better than any other bank.
#22 by Godamn Singh on Tuesday, 8 May 2007 - 3:57 am
Goddamn it!
Nobody says anything about Public and Hong Leong Bank? To be fair I have yet to come across Malay solicitors who are on the banks’ panel and doing work for them.
#23 by DiaperHead on Tuesday, 8 May 2007 - 5:43 am
Isn’t this all too familiar? It has happened before and MayBank is still around.
#24 by abbas gany on Thursday, 10 May 2007 - 6:56 pm
Let’s be realistic. How can the NEP work effectively when rich malays build ISTANA KAYANGAN, ISTANA BAYANGAN, ISTANA IMPIAN, AND SO-CALLED FANTANSY LAND ISTANAS AMIDST THE POOR MALAY KAMPUNGS—-SHOW-OFFS.
Do you expect the Malays to mark up to the NEP. You can go on for another 100 years and you will still find Malays KAIS PAGI MAKAN PAGI, KAIS PETANG MAKAN PETANG AND KAIS MALAM MAKAN MALAM.
What a selfish lot of Rich Malays only to satisfy their SELFISH INTERESTS AND AIMS AND SATISFY THEIR UNSATISFIABLE LUSTS,GREED AND WHATEVER YOU CAN THINK OF ……….
Just imagine A mother and her three children travels 2 KM on foot to a SOUP KITCHEN run by a PASTOR and which serves FREE FOOD
for the needy and situated in ALOR STAR. She and her children have a nutritious meal and packs some home for the next meal.
Anothe Malay boy runs away from the childrens home in BM or Kepala Batas and tries to make his way to his Hometown in Alor Star just to be with his poor helpless mother. He had shown much interest in studies but poor fellow no money no school.
Who is the KNIGHT IN SHINING ARMOUR why Of Course MCA who have stepped in to help the MALAY BOY return to school with books and uniform, shoes provided by MCA and also monthly pocket money of RM 60/=
It may sound irrelevant to the LKS topic but when you were all talking about NEP and MALAYS NOT MAKING THE MARK AND WILL NEVER MAKE THE MARK I had to come out with the above story published in the STAR which I belief most of you must come across
WHAT NEP AND WHAT MALAYS ????????? ANOTHER 100 YEARS OR MORE MY FRIENDS ??????? MAYBE ONLY MAYBE GOD WILLING WITH DIVINE INTERVENTION …..KEEP OUR FINGERS OR RATHER ALSO OUR TOES CROSSED.