YOURSAY 'Only businesses that depend on BN's cronyism as their life support fear a change of government. Which one of these is CIMB, Nazir?'
CIMB chief Nazir throws weight behind brother Najib
Anonymous #68219004: Nazir Razak, is this your personal comment or one made as the CEO of CIMB?
As a brother of Prime Minister Najib Razak, your statement is understandable. But as the CEO of CIMB, you should be censured by the CIMB board for making a veiled threat of impending doom.
So much for integrity and honourable men.
LittleGiant: Corporate citizens, no matter how close they are related or aligned to the ruling government, should remain apolitical and refrain from making any statement that would seem favourable to the incumbents.
Corporates, just like the NGOs, serve the nation at large and have a responsibility to contribute to national development, irrespective of the political coalition or the government in power.
It is better for the country's banking sector to welcome and embrace any change in the country's political arena and continue to focus on strengthening the country's financial industry and the economy.
Tbala: This is the first time in Malaysia that a bank has come out lobbying for the re-electing of an incumbent PM. It would have been prudent for the CIMB CEO to refrain from promoting or lobbying for the incumbent PM based on the well-known fact that he is his brother.
YellowPear: Who would be disappointed if Najib doesn't win, Nazir? The investors or you?
Confused: I am sure the word 'disappointment' is not the correct word to use to describe the outlook of an investor. Probably 'uncertainty' is a better word. Tell me in which investment is there no uncertainty or risk.
A plausible change in the government is always a factor that many investors in any country would have taken into account before making an investment, unless of course that investor carries out his business by making many personal favours or 'contributions' to the current regime. Then he would definitely be 'disappointed' if there is indeed a change.
Cantabrigian: Nazir, you are being narrow-minded by assuming Pakatan Rakyat would change everything that BN has implemented. Maybe it will be maintained, minus the corruption a la National Feedlot Corporation, Taib Mahmud-like transactions, the Felda Global Ventures fiasco, etc.
Investors would love to see a more transparent and competitive Malaysia, which BN has failed miserably to deliver.
Anonymous #76965586: You are right, Nazir. Those unqualified investors who have to bribe to set up doggy projects will be deterred from entering our beloved nation.
Those good investors who have lost the chance before as they don't practise bribery would be very happy to get the chance to invest in our country. Malaysians would like our nation to have a sustainable development.
Cks: The simple truth in today's business environment is that if you can eliminate corruption, offer a clean and transparent delivery system with good efficiency to boot, investors would flock to you. Businesses would prosper.
Only businesses that depend on BN's cronyism as their life support fear a change of government. Which one of these is CIMB, Nazir?
Clever Voter: Nazir is probably one of the few who have benefited directly from this corrupt regime. For too long businesses have been held to a ransom to support BN and its cronies. Ask the business people, and corporate leaders, many would quietly want to stay away from such activities.
Many do not have a choice because of the patronage system that ought to be dismantled. Quite a few have become event sponsors for the ruling elite against their will.
Chances are that businesses are starting to rethink about what an alternative government can do - let's not forget these are the same people who can think, as they too can see what awful things the BN governments have done to both business and society.
A4MSIA: We shouldn't expect that Nazir would say anything else as his own rice bowl depends on the fate of his brother. But investors come and go; once they see the eradication of cronyism and corruption they'll flock back.
Who can deny that those are the very issues holding back Malaysia from fulfilling its potential?
Anon1: This is typical BN crappy talk without facts and proof. What's the "clear path forward in terms of the transformation of the economy"? Driving more investors towards Thailand and Indonesia?
Or is it free handouts to stay in power until the country becomes like Greece? And who are the "investors that would be disappointed"? Is it based on any interviews held recently with fund managers who had expressed such a view?
Veja: Genuine investors are interested in returns in a transparent environment with minimal government intervention. Government involvement in business leads to corrupt politicians. Is there a clear path towards this transformation with the present government?
Borg Kinaulu: The biggest stumbling blocks to investing in Malaysia at present are: 1) corruption, i.e. things don't move if the gears are not oiled, and 2) nepotism, being forced to share your pie with some politician's relatives.
Peacemaker: The rakyat and country are more important than the investors' concern. Malaysians have been robbed, cheated, divided and all these have to be stopped. Malaysians are confident that a change in the leadership and administration would bring a world of good to the country and more investors would flood Malaysia.
Look at Selangor and Penang, these two states are the best managed under the Pakatan state governments.
ACR: Nazir could have just said investors would be able to evaluate the policies of any new government over time and react accordingly. However, in the short term some uncertainty is to be expected.
So how is this political stance of Nazir's different with that of Bank Islam chief economist Azrul Azwar Ahmad Tajudin's presentation predicting a narrow victory for the opposition, for which the latter received a suspension?
I Miss The Real Malaysia: Because of BN, banks like Ban Hin Lee Bank, Southern Bank, United Asian Bank, Phileo Bank and lots of well-run finance companies have been taken over by BN and its cronies using the law and Bank Negara.
Today, our local anchor banks look good from the outside, but once you go inside, the customer services are 95 percent unbearable, with long queues. Most local banks under BN patronage cannot make money from real businesses.
I salute Public Bank chairperson Teh Hong Piow, and I pray he lives a long life, because once he is gone, you may have seen the last non-bumiputera banker from Malaysia. But, we still have hope... in Pakatan Rakyat.
Wayan: I beg to differ with Nazir. Every citizen has the right to elect the government of his choice. That right cannot be subservient to the financial well-being of investors.
Sali Tambap: Maybe the truth is to the contrary, Nazir. Maybe the investors would be disappointed if the present corrupt government is not changed.
Just imagine how much they have to lose in paying coffee money upfront every time they try to do business in Malaysia.
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