Wednesday, August 6, 2008
Maybank's BOD is in hot soup over what was described by its minority shareholders as an effort 'not at all recommended' to acquire a majority stake in PT Bank Internasional Indonesia.
If not for Bank Negara's intervention to stop that move last week, Maybank is believed to incur losses worth billions of ringgit in 2 years.
Now that its minority shareholders have asked the board of directors to resign, wonder what will Bank Negara and the government do to address it.
Already losing its deposit of more than RM400 million for that 'mission', Maybank should at least be restructured, some parties said.
“Its our largest bank. Should we allow some punks to manage it, soon our banking system will collapse.
“At least, its a good lesson they gained from Temasek, Bapepam (Indon's capital-market regulator) and Kookmin Bank of South Korea.”