Lender in the lurch: Malaysia's Bank Bumiputra dogged by infighting

Article Abstract:

Bank Bumiputra's financial troubles are aggravated by political infighting at the ruling United Malays National Organization (Umno), which has always had a strong influence on the bank's management setup. The announcement of the retirement of executive chairman Hanafiah Hussain and executive director Jaafar Ahmad at the end of 1992 came a few days before the announcement of a drop by 80% in the bank's pretax profits for the fiscal year ending Mar 1992. The bank, which is Malaysia's second largest lender, reportedly has a staggering load of non-performing loans.

National commercial banks, Economic policy, United Malays National Organization (Malaysia)

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Shy about new markets

Article Abstract:

Malaysian banks are generally declining to back Malaysian companies that plan to expand into potentially lucrative markets in China, Vietnam and elsewhere. A traditionally conservative approach to banking and the lack of back-up collateral for joint ventures in the new markets are the main reasons for the banks' reluctance. Consequently, Malaysian firms determined to enter into foreign joint ventures are turning to non-traditional sources of financing. In addition, Malaysia will require foreign banks to be locally incorporated by Sep 30, 1994.

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Feud's end in sight

Article Abstract:

Malaysian business sources report that Berjaya Chmn Tan Sri Vincent Tan may sell his shares in Malaysian United Industries (MUI) to MUI Chmn Khoo Kay Peng. Tan's 30% share in MUI may have allowed him to launch a takeover bid through a general offer, but Khoo's hold on 51% of the company's shares proved solid. Tan's unsuccessful takeover bid for MUI will allow him to sell his shares at a profit, regardless of whether he sells to Khoo or to a third party.

Conglomerate corporations, Securities, Malayan United Industries Bhd.

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