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Losing out on quality for sake of bumi policy

I am writing to inform you and other readers of malaysiakini that I will be terminating my Maybank account (current and savings) which I have held for 20 years with effect from July 1, 2007.

I am sick and tired of this bumiputera policy and when an institution like Maybank decides to apply discriminatory policies based on racial bias then it has no business of having my money.

The bank should be acquiring the services of the best lawyers it can get to serve its customers but instead it has chosen race as the criteria.

Having worked in MNCs and GLCs I can confirm that the "support bumi" mentality is so pervasive that the GLC and MNC managers are willing to sacrifice quality, customer service, business growth, productivity and in some cases corporate governance in order to support the bumis.

Each GLC now has to have a Bumiputera Vendor Development programme that must develop businessmen from one race only.

In one instance, one company in Kedah dumped a well-performing supplier of Chinese descent and appointed a Malay supplier who failed to provide the requisite service in time or quality and then had to do a Ali-Baba joint venture with the Malay supplier seeking rent rather than adding value.

The problem seems to be, knowing that they will get the contract no matter what, the Malay contractors or service providers put their legs up and take it easy, thus destroying the quality of products and services rendered to these GLCs.

However no CEO of any GLC has the guts to do anything as their own term is limited to two to three years and they had better behave or their term would not be renewed.

Maybank is just the latest of this tragedy.