Morgan Stanley, Goldman and Bear S. in Malaysia????
Source: The Star
Bank Negara blueprint to include bigger presence of foreign banks
By FINTAN NG
PETALING JAYA: The banking industry in Malaysia is set to become more open with Bank Negara getting ready the blueprint for further liberalisation, which may entail not only a bigger presence by incumbent foreign banks but also the entry of new foreign banks.
The blueprint, which is part of the third phase of the Financial Sector Master Plan (FSMP), is expected to be announced in the next few weeks.
Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz had recently said the domestic financial system was “in a greater state of readiness to have greater foreign participation.”
On the cards, according to a report by a bank-backed brokerage, are moves to allow more 
branches for foreign banks as well as allowing them access to the national automated teller machine (ATM) network.
Other changes may include increasing the limit for foreign shareholding in local financial institutions from the current cap at 30%, granting new Islamic banking licences to foreign parties and opening up the hire purchase market segment, which is currently dominated by local banks, according to the same report.
The FSMP, launched in 2001, involves three phases.
The FMSP calls for the development of a more resilient, competitive and dynamic financial system by building the capability of domestic financial institutions, maintaining stability of the financial system and promoting a more market-driven financial infrastructure.
Analysts who track banking stocks are generally positive about the impending changes, saying it will enhance competition and result in more choices for consumers in terms of both the number of banks and the products and services offered.
A more competitive market would spur banks, both local and foreign, to improve on their services, and might also prompt local banks to expand abroad or look for strategic partners, the analysts said.
A local analyst with a Singapore-based bank said the change to look out for was the increase in the limit for foreign shareholding, which foreign investors favoured.
“Everybody wants it (increasing the limit on foreign shareholding) because Malaysia has one of the most restrictive foreign shareholding limits in the region,” she said.
Vietnam had just changed its banking regulations to allow foreigners to take up to a 49% stake in local banks while in Indonesia, foreign investors could own up to a 99% stake, she noted.
Wednesday, February 11, 2009
A split of the pie
Friday, February 06, 2009
BBC Take
BBC 6th February 2009
Malaysian MP removed from office
State minister Nizar Jamaluddin falls victim to fractious Malaysian politics
A Malaysian opposition leader has been forcibly removed by police from his office in a political tussle over which party controls the state's legislature.
Perak state's chief minister, Nizar Jamaluddin, described his removal as a "coup" and promised legal action.
The opposition won control of Perak state in general elections last March.
But the ruling National Front coalition said it was wresting control of Perak state legislature after the defection of several opposition lawmakers.
Deputy Prime Minister Najib Razak said the lawmakers were now "friendly independents".
Mr Najib is expected to become prime minister next month in a transition agreed with incumbent Abdullah Badawi.
Commentators have described the Perak manoeuvres as a burnishing of Mr Najib's image as a decisive and politically adept leader before next month's internal party vote.
He had recently run two by-election campaigns in which the National Front coalition lost.
Public concerns
The National Front claimed it had wrested control of Perak's legislature after three lawmakers quit the opposition on Wednesday.
Following the defections, both sides have 28 seats in Perak's 59-member legislature, but the National Front claims it effectively has control because the three independents would back it in any vote.
Such a takeover is really a big blow to democracy and insults the wisdom of the masses
Opposition leader Anwar Ibrahim
The takeover was endorsed by Sultan Azlan Shah, the influential hereditary ruler of the state.
Chief minister Nizar Jamaluddin insisted he had the popular mandate and refused to leave office, but when he arrived at work on Friday, he found all his personal belongings had been removed.
Police escorted him out of the building less than an hour later.
More than 2,000 opposition supporters had gathered late on Thursday at his home in a show of support, shouting "Reform" and "Long live the people"
"Such a takeover is really a big blow to democracy and insults the wisdom of the masses," opposition leader Anwar Ibrahim told the Associated Press news agency.
Senior opposition leader Lim Kit Siang accused Najib of making an "illegal and unconstitutional grab for power in Perak".
The respected Malaysiakini news website reported extensive blogging activity in support of the ousted chief minister and calls for fresh elections.
Due process?
Opposition leaders have criticised the conduct in the Perak change of power, saying the use of defections instead of an open by-election has damaged democracy.
Anwar Ibrahim's opposition Pakatan Rakyat alliance won an unprecedented five of Malaysia's 13 states in general elections last year.
He later tried to take over the government by engineering defections but failed to gain adequate numbers.
The same party has controlled Malaysia for more than 50 years but analysts say there is no doubt the government is struggling.
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What the Constitution says (Undang-Undang Tubuh Negeri Perak).
Article 16:
The Sultan has the prerogative to elect the MB "in his judgment is likely to command the confidence of the majority of the members of the Assembly."
Article 16(6) - which was used by the Sultan to terminate Nizar as MB of Perak
"If the MB ceases to command the confidence of the majority of the members of the Legislative Assembly, then, unless at his request His Royal Highness dissolves the Legislative Assembly, he shall tender the resignation of the Executive Council."
Article 16(7)
"Subject to Clause (6) a member of the Executive Council other than the MB shall hold office at His Royal Highness' pleasure, but any member of the Council may at any time resign his office."
I'm not good with laws and I've no idea what the Malaysia constitution is all about but Art Harun is right by quoting R. Hickling's, "Malaysian Law", (published 1988), where it's mentioned that:
"The advent of constitutional government in Malaysia marked the beginning of the end for the prerogatives of the Rulers. While assiduously reserving these prerogatives by express savings in the state constitutions, the very act of defining rights and powers restrict them. With the advent of formal constitutions government in Johor in 1895, limitations on arbitrary rules set in, and the pattern was set for progress to the modern concept of constitutional government: that is to say, not merely government in accordance with the provisions of the constitution, but government in accordance with the wishes of the elected representatives of the people."
Tuesday, February 03, 2009
On the last day of the transfer Window
The Awe's-ful:
WTH - Quaresma is with Chelsea!
The just okay-okay:
On a lighter note...Arshavin is finally with Arsenal....(though it's probably too late to change anything)
The-Empty-Vessel kind-
Man City hands down. I guess Kaka, Cech, Ronaldo and all the other galacticos will need something more from the Sheiks before donning the cash-free blue. Money talks but sometimes talking is not enough.
The OMG kind-
Shockingly, Robbie Keane is back at Tottenham. Signed for 19 million quids, and sold for 12 million quids, a loss of 7 million quids in a span of 5 months! That sums up to around 45k-46k quids down the drain daily for LiverpooL! And that is not even inclusive of his humongous wages.......
It must be hustle-bustle for all 4 bosses at the very last day of the transfer window....
See, SAF is nowhere to be seen nor heard....
