TalentCorp Malaysia

TalentCorp Malaysia

Is ANZ bank doing anything about Racial discrimination practised by Ambank in Malaysia? Part 2

Response from ANZ Bank (21/5/2007):

Thank you for your query. We understand that AMMB has issued a public statement announcing thewithdrawal of all letters to legal firms stipulating ethnic Malay representation and has apologised for any misunderstanding caused. We have nevertheless brought your query to the attention of ANZ executives who have responsibilities for our investments in Asia. ANZ is a minorityshareholder in AMMB. Matters associated with AMMB are the responsibility ofAMMB management and the AMMB board and should therefore also be raised directly with AMMB. We value all feedback we receive from our customers and we hope the above addresses any concerns you may have. Please let us know if you require any further information.

Kind Regards,About Us Feedback
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Is ANZ bank doing anything about Racial discrimination practised by Ambank in Malaysia? Part 1

Is ANZ bank, doing something about Ambank's (in Malaysia) racially discriminatory behaviour with regards to the bumiputera requirement since it is the largest shareholder ? So far, there hasn't been any statement by ANZ about this issue. Just wondering what will the Australian public think about another Australian company giving the impression that it's involved in unethical practices thru their oversea's interests.

latest ANZ & Ambank news (as at 18/05/2007)
From TheEdgeDaily: AmBank, ANZ to review group's strategies

The following was submitted in a feedback form to ANZ bank on 20/05/2007:
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To whom it may concern,

Recently it has come to my attention that Ambank, a Malaysian bank of which ANZ has 25% Shareholdings, practices discriminatory policies in requiring businesses and companies they deal with to have bumiputera partners.

As a shareholder and customer of ANZ, I am greatly concerned by this issue.

It gives the impression that ANZ which conforms to equal opportunity act in Australia is supporting racist behaviour in other countries. As i understand (unless informed otherwise), racial discrimination is illegal under the Malaysian constitution too.

I will like to know if ANZ is going to do something about it or at least guarantee that it's interests overseas do not behave in a racist manner but ethically.

I am sure a lot of customers and shareholders in ANZ will be very disappointed if this issue is not rectified quickly and transparently.

Please note that this letter will also be forwarded to the local press to raise awareness of this issue.

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Will be awaiting ANZ's response.