Freeze new Maybank bumi ruling until EPU methodology on ethnic equity ownership made public

Although Maybank Bhd has said that it will review its new ruling 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, its statement is ambivalent and unsatisfactory.

This is because the Maybank statement seems to imply two things:

  • firstly, that existing legal firms which are already on the Maybank panel, and which had been given one year to comply with the new ruling, may now be exempted from the 50% bumiputra partnership ruling;
  • secondly, that for all practical purposes, new legal firms will have to comply with the 50% bumiputra partnership ruling if they are to be emplaced on the bank’s panel.

In keeping with the principles of CSR (corporate social responsibility), Maybank Bhd should not speak in ambiguities but must make clear its policies and guidelines. For this reason, Maybank should clearly explain whether the 50% bumiputra partnership ruling for its panel lawyers will come into force on 1st July 2007 and how it will impact separately on its existing panel lawyers and new firms.

The controversy raised by the Maybank ruling, whether on the blogosphere or among the Malaysian public, have highlighted one important issue — that the few law firms doing good business with the government, statutory bodies or public listed companies with large government holdings are the politically connected ones, which is a more important consideration than whether they are bumiputra owned and operated or with substantial bumi equity.

Or as one poster on my blog put it: “In many of the cases if there is a bumiputra partner he’s probably a retired government servant or a stay-at-home mom who lends their names for a few bucks every month”.

I call on Maybank to be a model of CSR and make public the top 25 legal firms on its panel which have been given the most bank business each year for the past 10 years. This is to allow Malaysians to judge whether the criteria for legal firms on its panel who are given the most Maybank business are the politically-connected ones rather than based on meritocracy or other critera.

The New Economic Policy (NEP) was meant to be a 20-year policy from 1971-1990. The NEP had been productive of many injustices and power abuses and it is most regrettable that the NEP had recently been revived without any attempt to end all the betrayals and corruption of the NEP.

Malaysians have also been denied access to full and honest data about outcomes of the NEP, in particular the methodology and data used by the Economic Planning Unit (EPU) to compute ethnic breakdowns of NEP equity ownership.

In October, both the Prime Minister, Datuk Seri Abdullah Ahmad Badawi and Deputy Prime Minister, Datuk Seri Najib Razak had given undertakings to make public the EPU methodology and data for computing ethnic breakdowns of NEP equity ownership, after the controversy over the ASLI report on the subject.

More than six months have passed, but a thunderous silence have descended on the issue despite repeated public reminders, including by DAP MPs in Parliament, calling on the government to honour its undertaking to make public the EPU methodology and data on ethnic breakdowns of NEP equity ownership. What has the government to hide?

Since then, a 2002 University of Malaya research study has come into the public domain with the finding that the 30 per cent bumiputera equity ownership as targeted under the NEP had been achieved a decade ago in 1997.

The research, entitled “Bumiputeras in the Corporate Sector — Three decades of performance 1970-2000”, by Dr. M. Fazilah Abdul Samad, head of department of finance and banking in the Faculty of Business and Accountancy, was based on a 10-year analysis of bumiputera equity ownership between 1988 and 1997 of public listed companies on the Kuala Lumpur Stock Exchange (KLSE), now called Bursa Malaysia.

According to Fazilah’s study, bumiputera equity ownership reached 33.7 per cent in 1997, comprising 30.6 per cent bumiputera corporate equity ownership and 3.1 per cent individual bumiputera share ownership.

This is however an underestimate, as it did not include nominee company ownership which many economists have argued would be held in the majority on behalf of bumiputeras.

Furthermore, it does not take into account government-held ownership (9.5 per cent), as was done in the study by the controversial Asian Strategy and Leadership Institute (Asli)’s Centre for Public Policy Studies. Both the University of Malaya and ASLI studies have arrived at very similar conclusion of 45% bumiputera equity ownership achievement if 70% of government-held ownership are attributed to bumiputeras.

There should be a total freeze on NEP extensions like the new Maybank ruling requiring 50% bumiputera partnership for panel law firms until the government has honoured its undertaking to make public EPU methodology and data for computing ethnic breakdowns of NEP equity ownership.

This matter should be given top priority in the Cabinet meeting on Wednesday.

(Media Conference Statement in Parliament on Monday 7th May 2007 after the urgent motion by DAP MP for Bandar Kuching Chong Chieng Jen to debate this subject was rejected by the Speaker)

  1. #1 by ccjett on Monday, 7 May 2007 - 3:03 pm

    Here is my email to Malaysial-Bank:


  2. #2 by Bigjoe on Monday, 7 May 2007 - 3:12 pm

    Good idea CC JETT. Boycott Maybank services!!!

  3. #3 by ahkok1982 on Monday, 7 May 2007 - 3:30 pm

    yup, time to stop all my banking transactions with maybank….
    i would rather put all my money under my pillow than putting them with maybank which would do business based on race rather than on merit.
    we should all boycott maybank. let them know tt we do not favour any establishment which is race based.

  4. #4 by kcc on Monday, 7 May 2007 - 3:33 pm

    CCJETT has the right idea. Although I would suggest more polite but firm language :-)

    To all those who intend to boycott Maybank, they need to know why they are being boycotted. Anyone has the email id of maybank ceo, please post it here. Hopefully he will get an avalanche of protest id.

    We as consumers/customers do have some influence on how the bank conduct its business.

  5. #5 by megaman on Monday, 7 May 2007 - 3:35 pm

    Since the time when Maybank is acquired or converted to a bumi bank, I have given up on this bank.

    Been so frustrated the last time I tried to just open a simple current acct. that I’ve brought my business to other banks, OCBC and Public Bank.

    Customer services sucks from its prestigious HQ in KL to the other smaller local branches. The amount of paperwork required is humongous and there’s no help or guidances from the staff as well.

    Forget abt this bank. Take your accts and put them elsewhere.

  6. #6 by Tai Lo Chin on Monday, 7 May 2007 - 3:54 pm

    They are extending NEP not just to companies dealing with and provising servics and goods directly to the government and GLCs but also service providers and contractors of service in relation to these companies.

    You can check this out, whether it is true or not. General contractors registered with the Treasury and dealing with govt departments and agenicies like MARA etc have been verbally told (no black and white) that their accounts must also be audited by a Bumi auditor.

  7. #7 by malaysia born on Monday, 7 May 2007 - 3:59 pm

    People, your protest and blogs and letters to the papers will NOT have any effect.

    If you want your protests to be heard, may i suggest that the whole lot of you gather together, march to the bank and make your withdrawals from the bank en masse. If you still have reservations that your small business will not make any dent to their profits, then get some pressmen to tag along. The loss of business and the publicity will not only unsettle them but the publicity and the fact that your solidairty will show them who’s boss.

    Now i wasn’t in malaysia when there was a campaign years back when someone tried to corner the mandarin orange market during the chinese new year season. From what i heard, your strong united stand hurt them and taught them a lesson. So my question is ‘”Why Stop There?”

    To all you lawyers out there, this is the time for you people to do your talking with your bank deposits. Are you going to teach them a lesson? or are you people going to complain and complain and complain and complain …………

    Remember that this is a bank and they are out to make oprofits

  8. #8 by Anti_NEP on Monday, 7 May 2007 - 4:16 pm

    All NON-BUMIs should boycott this racist bank immediately. See what will happen to this bank if all non bumis pull out!

  9. #9 by a-malaysian on Monday, 7 May 2007 - 4:22 pm

    I had been thinking for a long time whether to blog, as my knowledge is very limited.

    I am providing an idea for those interested in blogging and looking for one.

    Since the latest incidence of maybank racist ruling that needs to be taught a lesson by calling for bouycott, I thought of starting a blog called bouycott. If it is not available in any of the free blogs than add malaysian-bouycott.

    Anyone wants to take up this blogging.

    There are many bouycotts that we can start off.

    1) maybank racist ruling

    2) rtm inbalance report siding only the ruling bn

    3)The news media, inbalance reporting siding only the ruling bn

    4)Private tv stations – many aspect of their programs, inbalance news reporting, fees increase, rerun after rerun of programs ect ect

    For 3 & 4 we can call to bouycott the advertisers for supporting them.

    5)Any other businesses that are racist, example takaful and many others……

    If anyone take up the proposal, please let us know here so that we can help to spread this blog worldwide.

    50 years is ENOUGH
    Vote For A Change
    Vote For Any Opposition
    Give Them A Chance To Change For A Better Malaysia
    Remember bn Is A Useless Grouping Of Self Serving, Corrupt, Dictator, Power Crazy, Racist, Kris waving, etc, etc type of parties.

  10. #10 by Airsnort on Monday, 7 May 2007 - 4:28 pm

    I just open a current account for my Company at another bank and start to transfer all my money from Maybank? How about you guys? Don’t just say for the sake of saying. Put it into action.

    I hope all Non-Bumi who read this, pls put your money somewhere else. Let see whetehr they can survive just on Bumi money or not? I am not a RACIST, but I am being force to act like one.

  11. #11 by DiaperHead on Monday, 7 May 2007 - 4:35 pm

    Before we consider taking up any proposal there are a few spelling errors that you need to give your attention to:

    ‘boycott’ instead of ‘bouycott’
    ‘imbalance’ instead of ‘inbalance’

    It’d be a good idea if you brush up on your English first before starting a blog of your own. Readers hate bad English.

  12. #12 by a-malaysian on Monday, 7 May 2007 - 4:46 pm

    Thanks DiaperHead for the pointer.

    That is also one of the reason that I cannot write a blog, my poor command of English but encouraging others to do so.

    50 years is ENOUGH
    Vote For A Change
    Vote For Any Opposition
    Give Them A Chance To Change For A Better Malaysia
    Remember bn Is A Useless Grouping Of Self Serving, Corrupt, Dictator, Power Crazy, Racist, Kris waving, etc, etc type of parties.

  13. #13 by aries66 on Monday, 7 May 2007 - 4:54 pm

    It is very very.. SAD to hear that !. I think we should terminate our
    MayBank Account and put somewhere else instead. Racist Bank
    should not be supported. BTW: What are Banks that recommended
    to invest in Malaysia ? I supported DAP’s findings and analysis in
    this topic. DAP BOLEH !!!

  14. #14 by burn on Monday, 7 May 2007 - 5:08 pm

    maybank can give whatever excuses or statements to tone down public anger, but still, they can always do it the back door quietly. it make no differents, since they are under bumi. same goes to others…

    aku punya falsampah!

  15. #15 by a-malaysian on Monday, 7 May 2007 - 5:43 pm

    This racist bank had worldwide branches, we must pass this info to the respective country and suggest to their citizens to boycott this racist bank.

    Malaysian residing overseas, if you are using this racist bank, please support our call for boycott and inform others in your country as well to shift thier funds to other non racist banks.

    We hope other bloggers can support this call in their blogs.

    50 years is ENOUGH
    Vote For A Change
    Vote For Any Opposition
    Give Them A Chance To Change For A Better Malaysia
    Remember bn Is A Useless Grouping Of Self Serving, Corrupt, Dictator, Power Crazy, Racist, Kris waving, etc, etc type of parties.

  16. #16 by undergrad2 on Monday, 7 May 2007 - 5:43 pm

    “Or as one poster on my blog put it: “In many of the cases if there is a bumiputra partner he’s probably a retired government servant or a stay-at-home mom who lends their names for a few bucks every month”. Kit

    Now I have earned the path to notoriety. Now I will not be able to walk the streets freely ever again without looking over my shoulders! Talk about the cost of freedom!

    I need to make one caveat which should follow that statement which is that this is true for law firms in the earlier years up to as recent as the early 80s when there was a relative shortage of Malay lawyers able to take up equity in any law firm. But the joke about lawyers in Malaysia today which number no less than 5,000 (?) is that when you are walking around Masjid India, Kuala Lumpur, and if you were to throw a stone up in the air it is likely to hit the head of a lawyer. Never mind the gender! Never mind the ethnicity!.

    For a long while now lawyers find it hard to make ends meet. ‘Ambulance chasing’ has nothing to do with a road accident and an ambulance running out of petrol.

    The proliferation of small to medium size law firms is a relatively new phenomenon; the livelihood of their owners parallels that of the mom-and-pop firms whose owners are comfortably retired but no less politically connected. With the former it is mostly about survival and survivability. To the latter, slave labour takes on a new meaning

    Is it not surprising that many of the young lawyers turn to making a fast and need I say ‘easy bucks’ from the ‘conveyancing’ business – a term used to refer to real property, its purchase and financing? This is in preference to intellectual property, a relatively new area of business which only the big name law firms with partners with Caucasian names long deceased can ever hope to enter. For the rest they have long taken to begging for business, indulging in unethical conduct, even routine and blatant breaches of the principle of conflict of interest. Ethics do not mean anything anymore to these lawyers many of whom are struggling to survive. The unlucky ones have no choice but to put bread and butter issues first to support their families in preference to some alien and irrelevant principles like ‘principles of the English common law’ or even ‘contempt of court’ and even ‘integrity’ which comes with a price.

    Now about this ‘controversy’ and controversial policy surrounding the recently announced ruling that law firms vying for MayBank’s business will have to meet certain criteria is nothing. I hope no one questions the constitutionality of their move to discriminate. Discrimination be it along racial lines, along lines of bumiputra participation in the firms’ equity shareholding has long been in force. It used to be 30% and now it has been raised to 50%.

    For those lawyers struggling and falling over one another to pick up the crumbs given to them, a pariah group of lawyers (for lack of a better term) it makes no damn difference! Many of these lawyers fought hard to be on the sought after list of panel solicitors to a bank like MayBank, only to find that work goes to those big name law firms with orang puteh names who are politically connected whose bread and butter is in the lucrative field of corporate law, intellectual property, civil and criminal litigation.

    So what’s the fuss about 50%? It makes more sense to this pariah group of lawyers, if it refers to commission to be paid in installments like all long term loans to certain ‘enabler’ or ‘group of enablers’ as we call them – a generic term.

  17. #17 by ccjett on Monday, 7 May 2007 - 5:51 pm

    Next, I am waiting for their reply if they could waive me on the penalties for moving my loan to another non-racist bank as my homeloans are still in the 5-years lockin period. I think I have a valid reason to get the waival as I think Malaysial-Bank doesnt really want me as a non-bumi.

    I think my 2 homeloans there will be very well taken up by other banks once they agree to the waiver.

  18. #18 by k1980 on Monday, 7 May 2007 - 5:51 pm

    “….if there is a bumiputra partner he’s probably a retired government servant or a stay-at-home mom who lends their names for a few bucks every month.” I don’t think for only a few bucks. A few thousand bucks is more likely. And don’t forget that the above bucks are passed onto the clients

  19. #19 by Godamn Singh on Monday, 7 May 2007 - 6:02 pm


    Give me one reason why any lending bank would want to waive their fees, penalties etc. Do you know how it would cost you to re-finance your loans? This does not stop at penalties for prepayment, and the fact that long term loans are calculated on yearly rests and not monthly rests, and that rebates for interest payable upon redemption is never given. How much equity do your loans give you? Is the market conducive for re-financing?

    And don’t forget the lawyers’ fee! Try talking to Public Bank and find out if this Bank is able to offer a better margin of financing.

  20. #20 by ccjett on Monday, 7 May 2007 - 6:03 pm

    My email to Malaysial-Bank:





  21. #21 by madmix on Monday, 7 May 2007 - 6:26 pm

    I see that DAP youth is threatening to oraganise a boycott of this bank if they do not rescind this decision. Good for you guys! maybe you can kick off the campaign by organising a maybank credit card burning do. Sorry, I cannot contribute as I am not a mayban customer.

  22. #22 by pwcheng on Monday, 7 May 2007 - 6:53 pm

    It is high time the non Bumis must do something to face off such discriminatory policies. Otherwise it will only encourage them to have more discrimination. We must be brave and be able to stand up to such challenges and by doing so we will let the whole world know the truth on the extent of discrimination in this country which our government had always boasted otherwise.

    Remember the “Chinese Mandarine Orange” crises in the early 80s. They have to eat all the oranges themselves as a result of the boycott from the Chinese. We can do it then and we can also do it again now.

    WE ARE REALLY SICK OF ALL THESE. We are all citizens of this country, born and bred here and most of us had sacrificed our whole life for the country and yet they have such nauseating discriminatory policies which are getting from bad to worse. We have to stop it or at least minimize it at one point or other.

  23. #23 by setu on Monday, 7 May 2007 - 7:26 pm

    some questions.
    How’s the bank’s treatment of customers who are nons or others ? do you think it is pleasant / friendly when compared to them and the nons or others ?
    I really don’t know. maybe any guess is a good one.
    else, you go an experience it and tell us.
    Next, is it that every policy will be on a 50% basis ?
    will they implement this 50% policy on all business loans as well ? if all businesses cannot get loans, all can close shop and close account too ?

  24. #24 by k1980 on Monday, 7 May 2007 - 7:55 pm

    ET TU, BRUTUS? A Play(Comedy) in 4 Acts
    The Cast:
    1: Hmudin
    2: NTR
    3: Mat Yas
    4: AAB
    5: KJ
    6: AI
    7: TDM
    8: TR


  25. #25 by setu on Monday, 7 May 2007 - 8:15 pm

    few other questions.
    so now, does it mean, that :-
    hey presto, wave the bomoh magic wand, the new 50% policy means an instant, over-night 50% legal business ownership to richness / success. ?
    so, now , does it mean that they will apply this 50% policy to all business loans as well and loan applications must also be from a 50% business company or partnership ?

  26. #26 by toyolbuster on Monday, 7 May 2007 - 10:49 pm

    I call upon all my non-bumis, and non-racist bumis Malaysian to withdraw their savings and close their account at this racist bank.
    Try Public Bank, HongLeong, OCBC, UMBC, Chartered, they will welcome you like a VIP.

  27. #27 by naked taliban on Monday, 7 May 2007 - 10:55 pm

    Given the crutches they demand the wheel chair, sick people. One step nearer to their graves.Thats NEP……..MAMPUS MALAYSIA.

  28. #28 by peanut king on Monday, 7 May 2007 - 11:39 pm

    I cant agreed more with all the comments mention above.
    Boycott this mention bank with whatever way u can.
    If everyone can do something to makethem make less 10c a day or a week this will definitely affect their bottom line.

    So when they next report a lower profit investors will sell their shares and force it down.Teach them a lesson real hard.Racism is getting out of hand in this country.

    It will affect us now and latter filter to our next generations to come.

    Please pass the message around fast !!!!!

  29. #29 by ccjett on Monday, 7 May 2007 - 11:45 pm

    Godamn Singh,

    Thanks. There is a package namely “Zero entry cost” which the bank absorbs almost all the other fees just to get you refinance your existing loan with other banks.

    I have only 2 housing loans in Maybank out of a total of 6 housing/shoplot loan totalling more than rm1M.. For that, I am sure other banks are more than happy to help me move out from Maybank especially given my pretty installment payments ;) anyway, if Maybank would let me off without the penalty, even if I was to loss some money from refinancing, I would for the sack of showing my disagreement on the racist policies being imposed.

  30. #30 by Rocky on Monday, 7 May 2007 - 11:53 pm

    Maybank group, what a bunch of jokers. First there was the Takaful thing with Deepavali, yeah that Takaful is part of Maybank Group.Now they wnat to take on lawyers out of all the people. Good luck Maybank. I’m glad I do not do any business with you. I guess my Amex spending will be zero from now onwards. Too bad Amex is run by Maybank in Malaysia since last year.

    Maybank please implement this ruling in Singapore and other countries that you operate in.:P Bodoh!!!

  31. #31 by smeagroo on Tuesday, 8 May 2007 - 12:27 am

    many practising lawyers are chinese and indians. not many malays. so the hardest will be these 2 groups of ppl. I wonder if Sami Dummy will stand up for his people and not ask anwar why he didnt help the indians when he was DPM. Sami Dummy, it is ur job u idiot!

  32. #32 by ACERMIND on Tuesday, 8 May 2007 - 1:08 am

    Dear Malaysian,

    Yes! It is timely that we , Malaysian should close all deposit accounts, ceased all credit cards , stop all banking transactions and slow payment of banking facilities to the Tiger Bank. It is dam shameful for the Malaysia largest anchor bank to involve in dirty politics and play on “racist” card /sentinment to “kow tow” to the Dictators and Directors of the board in MBB. Dump MBB Shares to show protest and Buy other local banking stocks like PBB, HLBank, EONCap and other non racists finance stocks.

    The Board of Directors of MBB should apologise to all Malaysian for its racist policy against the legal body, Bar Council and also under estimated the professionalism of the legal system in Malaysia.
    Let all Malaysian irrespective of colors, religions, races and cultures stand united to “BOYCOTT” MAYBANK NOW! What a shameful Big Bully MBB against Malaysian.


    Freedom Thinker

    UK and USA

  33. #33 by taikohtai on Tuesday, 8 May 2007 - 5:14 am

    Boycotting Maybank because it is racist has a nice rhyme.
    But you people have also been boycotting something much bigger, which you shouldn’t…………the elections! Imagine more than 50% eligible Malaysians not voting. ALAMAK!
    If a caring government is elected, then there will be less unfair practices. But Malaysians don’t care enough to even vote.
    And that’s a real TRAGEDY!

  34. #34 by Godamn Singh on Tuesday, 8 May 2007 - 5:25 am

    Why is everyone here so fired up by the ruling?? It is not like a policy like that has not been in place for many years now. Other banks do the same and in different unannounced ways. Call it ‘lawyer profiling’ if you want. They have every right to follow any policy they deem fit and proper. It is an internal matter and it is not unconstitutional.

    Whereas you guys have every right not to do business with them – and move your account elsewhere. But make such a big fuss??

  35. #35 by accountability on Tuesday, 8 May 2007 - 5:27 am

    maybank, you racist!!!

    i will terminate my account with you as soon as i return home.
    i’m more than happy to give my business to another bank!

    hopefully, all that your remaining bumi customers will deposit in your bank are crutches and non-performing-loans (ie. hutang buruk!)

  36. #36 by kurangajah on Tuesday, 8 May 2007 - 6:54 am

    MayBank has done well by giving more opportunities to Bumi lawyers. Other Bumi Banks should also follow this ruling. The next step to take is to ensure that all Bank Account holders must constitute at least 50% Bumi. All those who don’t comply will have their accounts closed.
    To all non Bumi account holders, don’t wait to be further insulted. Close your account(s) today, for that is the right thing to do. And to all those non Bumi shareholders, sell off your MayBank shares because they might just force you to sell to the Bumis.

  37. #37 by Tai Lo Chin on Tuesday, 8 May 2007 - 7:48 am

    I am very glad of the stand taken by DAP Socialist Youth (Dapsy). I hear Dapsy members will close their accounts with Malayan Banking Bhd (Maybank) if it fails to retract it racist ruling on its solicitors panel ship. The boycott is a necessary moral gesture of protest. I hope will join the boycott.

    It is important for Uncle Kit to keep this issue of Maybank’s racist ruling on lawyers’ panel ship alive. Let the news spread. Get others like Chinese Chamber of Commerce, the SMI association, Federation of Malaysian Manufacturers to take a stand and ask their members to join the boycott of withdrawing FDs and current accounts and changing to other banks without such ruling.

    (The Bar Council chairman Ambiga Sreenevasan has described the requirement as “totally discriminatory”. “There is no legal basis for such a condition and it’s certainly in breach of the spirit of the Federal Constitution” she said).

    We must ask the regulator Bank Negara Malaysia to also take a stand, whether it permits its members like Maybank to do a thing like that, whether it will affect longer term legal protection for the bank.

    The news of this ruling first broke in the Chinese press last Tuesday. MCA think-tank INSAP’s economic caucus vice-chairman Dr Jeffrey Goh was quoted as saying the regulation was an insult to the legal profession and contradicted the premier’s calls to promote meritocracy.

    Uncle Lim must ask MCA President and Gerakan chief what they thought of this ruling. They must be pressured to take a stand.

  38. #38 by DarkHorse on Tuesday, 8 May 2007 - 8:20 am

    “…..whether it will affect longer term legal protection for the bank.” Tai Lo Chin

    To imply that giving work preference to bumi lawyers when all things are equal, that this would lead to security issues is an insult to the bumi lawyers. Are you saying that bumi lawyers are not as good as the non-bumi lawyers, that they are intellectually inferior??

    The DAP leadership would do well to distance themselves from bigots from all races.

    Your response please.

  39. #39 by smeagroo on Tuesday, 8 May 2007 - 8:57 am

    the problem is maybank has been part of our lives now. Like it or not maybank spells convenience. Yes, I do hv an account with them. I too wanted to join in the boycott and close my account. But unless our numbers are big enough to hurt Maybank, our exercise will be futile.

    The usual ploy used by all these big corporate giants are to penetrate the market and once they hv gained a place in your lives, they will then turn and bite u back. Look at Astro. Now without any main competition and lousy offerings from RTM and other local channels, they hv grabbed us by our balls.

    Such exercise must be done together and everyone must be willing to sacrifice.

  40. #40 by kurakura on Tuesday, 8 May 2007 - 9:10 am

    I already took out my fixed deposit…

  41. #41 by Counterpoint on Tuesday, 8 May 2007 - 9:32 am

    Thank god I don’t have an account with Maybank. But I don’t know, you know those cartel, next thing you know all banks, whether through arm twisting or otherwise, will end up with this ruling.

    Something must be done before these kind of new forms of NEP hijacking takes root. Maybank must be made aware that coming out with such ideas would have dire consequences for their business.

    Trouble is, are there enough people out there that’s committed to teach Maybank that lesson?

  42. #42 by hopeless on Tuesday, 8 May 2007 - 10:06 am

    Please say “NO” to all these racist company. There are just too much racist policies out side and we should teach them a lesson. I think if all non-bumi closing their Maybank acct will greatly impacat their business regardless Maybank retract his racist ruling in future or not!

  43. #43 by Tai Lo Chin on Tuesday, 8 May 2007 - 10:11 am

    Darkhourse, I didn’t imply other things being equal bumi lawyer is inferior as lawyers by race. I am sure that are good as well as not so good bumi lawyers as non malay lawyers good or bad. What I am saying is that the Bank’s appointment of law firms in their panel should be based on quality of service and merits (whatever their equity composition) but should not be equity composition of Bumi 50% being dominant consideration. The criteria to base appointment of service providers on criteria other than merits exposes, other things being equal, the bank to risks of legal protection for the bank being compromised. What is your response?

  44. #44 by Jimm on Tuesday, 8 May 2007 - 10:33 am

    We have seen how the BN component parties addresses to racism issue in Malaysia. Look at MCA.MIC.PPP.PGRM and those in the coalition, what are they doing about this? They have no choice but to keep quiet or divert the public into other issue to cover up. This way, they can keep their own interest and all their relatives and friends in business.
    You all should have decided things by now. They (BN) have prepared their stories and battle plan to continue winning by bigger majority in the coming GE. They will make sure that they will win at all cost or everyone ‘jump’ the boat and swin across the next shores.

  45. #45 by cliffban on Tuesday, 8 May 2007 - 1:17 pm

    Just like Tun said ” stategic mind”, closed your account with Maybank and open new with Al Rajhi Bank,

    Use Digi for Mobile,
    Use Shell for Fuel,
    Read from Malaysiakini, Malaysia Today, TheEdge Daily, save you time & money from subcribing to BN paper.

    Just like LKY said, we are being ” systematic marginalised “…So vote wisely…before that check whether are you a register voter first. Otherwise, don’t waste time talk @ write.

  46. #46 by hawaiichee on Tuesday, 8 May 2007 - 1:26 pm

    I have closed my accounts in Maybank. Its not difficult – just move your money to another bank. Its good to do this NOW within the next 2 weeks.

    Yes, also cancel all Maybank credit cards, redeem your points and leave them.

    This shows Maybank that there is a huge OBJECTION to their corporate objectives. The people do not bank with Maybank ANYMORE until it apologises and makes transparent its dealings.

    JOIN ME. Lets make a difference in Malaysia. It may be difficult with fixed deposits – though Maybank rates are not good anyway. But, at least move all your savings somewhere else.

  47. #47 by Boneka on Tuesday, 8 May 2007 - 2:10 pm

    DAP Youth should insist that all its members close their Mayban accounts with IMMEDIATE EFFECT! Why give an ultimatum to MBB, just DO IT. The fact that their Management Board has come out with this RACIST ruling deserves this action. We know there is nothing that we can do to stop these kinds of rulings from being implementd in Malaysia. It is only a matter of time these types of rulings would be fanned-out into other Sectors as well. UNLESS OF COURSE, we vote BN out. The PM who promised us so much has let all (non-Malays) down. He and his government does not deserve another term. But as usual, we Malaysians are very short sighted that we may settle for short term gains (pay rise for government sector staff) and forget the “promises”.

  48. #48 by a-malaysian on Tuesday, 8 May 2007 - 4:41 pm

    Money moved, account closed.
    I had also started emailing all my contacts and sms to all families and friends to boycott this racist bank and instruct them to do likewise and spread the boycott around.

    Non Bumis, this is the start of a revolution to tell the bn and all their running dogs that racism is not welcome in this world including this country, called Malaysia.

    Whatever the outcome of this racist bank decision, the boycott must continue to show them the Non Bumis Peoples Power and a strong warning to those companies who may want to follow the same racist policies.

    This racist bank had operation in the following countries:
    Papua New Guinea
    United Kingdom

    Malaysian readers residing in these countries should support the call for boycott of this racist bank.
    Most of these countries allow staging protest of racism, if possible someone can organise banner protest in front of this racist banks in these countries.

    Act not just talk only if we want to be free of racism in this country.

    50 years is ENOUGH
    Vote For A Change
    Vote For Any Opposition
    Give Them A Chance To Change For A Better Malaysia
    Remember bn Is A Useless Grouping Of Self Serving, Corrupt, Dictator, Power Crazy, Racist, Kris waving, etc, etc type of parties.

  49. #49 by Anti_NEP on Tuesday, 8 May 2007 - 4:44 pm

    I started my engineering firm some 15 years ago. When i tried to secure government project i was told i must have a bumi partner who must hold more than 50% shares in my firm. Then Petronas insisted of 100% bumi ownership in order to secure job from them. Now i am paying 20% comission to my sleeping bumi partner whenever we secure a government job. We should call Petronas Petrobumi instead. MCA and Gerakan are all cowards especially OKT!

  50. #50 by ahkok1982 on Tuesday, 8 May 2007 - 4:58 pm

    Dear all and Uncle Kit,

    Many of us here are all very agreeable to stop all dealings with Maybank in protest to their unfair and racist ruling. However, there are also some who are sceptical that this protest will do little to dent Maybank’s bottom line since we are a small group who doesn’t hold much significance.
    So I would like to suggest if anyone or maybe even Uncle Kit to start a poll or list for people to write in their names when they have stopped all dealings with Maybank. Of course, this poll / list will not cease its function there. There are many other things which we should protest and it can also be used for such purposes.
    I think the number of names reflected in the list will spur others to also act in protest to those who are racist.
    What we have here is a good protest but it is scattered and there is nothing centralized to bring us together. We read one post after another but then it is hard to visualize how many have closed their accounts, how many have moved their business elsewhere. I think a list will be a better impact.
    Sorry to say, I dont know how to make polls or websites. Anyone willing to take it up or point me in the right direction? would be a good name

  51. #51 by sammyvellu on Tuesday, 8 May 2007 - 8:03 pm

    This is called Aprtheid !

  52. #52 by slashed on Tuesday, 8 May 2007 - 8:31 pm

    I was left speechless when I read the post.

    Seriously, how stupid can one get?

    A policy like the NEP should be subject to special procedures regulated by public law! If the people are going to give up their rights, then special procedures should be in place to make sure it isnt given up for nothing!

    Therefore, in this case, the gov needs to answer the question of proportionality. How could they justify this decision as proportionate? How is it achieving the objectives of the NEP?

    It is unclear how this would benefit the bumiputra. Rather it may work against them; the public perception of bumiputra lawyers will turn negative – these lawyers will be haunted by the spectre of NEP that was supposed to help them. It is not considerate of the many bumi lawyers that worked hard to get to where they are – for the public is indiscriminate with their discrimination in this respect. For this point, just look at malay graduates from local universities. Those that are good suffer because many employers perceive them as lesser anyway. The people just dont have confidence in these lot.

    Furthermore, where a firm is forced to take in more bumiputra partners, they do so at the cost of quality. The image of a firm suffers if 50% of their partners are lesser lawyers – but that is not to say that bumi lawyers are incompetent, merely that alot would be if they were raised to the position of a partner merely to meet a quota and not out of merit!

    I will raise this issue at KPUM (UK Malaysian law students soc) after my exams. Hopefully we will write a response to this. It would be difficult though since the Gov recently flexed its muscles – showing us how far their reach is; threatening my (Malay!) friend with a retraction of his scholarship for arranging a talk by Anwar on Islam and the West (!not Keadilan!); The Malaysian-Singapore society subsequently took over the talk but was forced to abandon it the day before; subsequently and fortunately, the LSE took over the talk.

  53. #53 by rosicky on Tuesday, 8 May 2007 - 10:23 pm

    Not Just Maybank!!!
    Boycott celcom and TM as well.

    Recently have I have discarded my beautiful handphone number as a protest against TM.

    The Malays have gone too far. They discriminated 016 from getting 3G and WIMAX license because 016 wont let the Malays have majority control.

    However 016 is giving customer tremendous value for money and showing record profits.

    Go 016.

    (PS: I am not on 016 payroll(above or under the table))

  54. #54 by alphoti on Tuesday, 8 May 2007 - 10:47 pm

    Whenever things like NEP & other racist matters come up, I felt ashame of our fellow Malaysian who need it to survive. I’m angry but I never stop hoping that one day, Malaysia will belongs to Malaysian. But I also know that such a day will be distant if Malaysian (Bumis & non-bumis alike) do not do something on it.

    The MBB’s racist policy further confirm my fear that I will not live to see a Malaysian Malaysia even if I live another 50 years.

    I think all Malaysian (including Bumis) should stand up to this policy by stopping all dealings with MBB – close accounts, cut your credit card, refinance your loans (Many banks are offering very attractive package including free moving cost). Encourage friends & relative to do the same. THE IMPORTANT THING IS DO NOT STOP EVEN IF MBB REVERSE IT’S NEW STUPID POLICY.

    Lets show our power by making Malaysia biggest bank bleeds for being racist!

    Hopefully if we are united, I may see a Malaysian Malaysia after all.

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