Wednesday, February 07, 2007

Lulu Does a KTermoc

KTermoc noted that the issue of setting up mosques for a Chinese congregation and led to the conclusion that There are Muslims and there are Muslims He goes on to ask the question, "And what's that 'exception'? The Arabs of course."

If you were a Singaporean company and you bought a big company in Malaysia, before the ink is dry, you'd probably have non-thinking over-enthusiastic boys led by a chap [who incidentally has spent more years abroad than you have in M'sa teaching his boys how to be more MALAYsian than other Malaysians] banging on your door and burning effigies of you and your company. That is if you're Singaporean, or American or any other country except... [look 1st paragraph]

Reading yesterday's Star update has also led Lulu to believe that There are foreign controlled, and there are foreign controlled. What did Lulu see in yesterday's Star?

“RHB will not be 'foreign controlled' but will operate as an Islamic brotherhood partnership.''
Who is Kuwait Finance House ?
from their website,
Kuwait Finance House (KFH) is one of the largest Islamic banks in the world. Headquartered in Kuwait, our business covers corporate, investment, commercial and retail banking. As part of our expansion programme, we are now in Malaysia with the opening of Kuwait Finance House (Malaysia) Berhad (KFHMB).

hmm... a non foreign controlled bank controlled by foreigners. Food for thought, isn't it?

did you know that
We opened our first branch located at the Ground Floor, MNI Twins, Tower 2, 11 Jalan Pinang, Kuala Lumpur on 8 August 2005. The branch is equipped with Automated Teller Machine, Cash Deposit and Cheque Deposit machines to cater to all your daily banking needs. To underline our commitment to expand in Malaysia, we will be opening new branches gradually to serve you better.
Do you remember the late 90's when the government forced 54 domestic financial institutions to be consolidated into just six institutions (Bank Negara, 1999)? The number was later revised to 10, but what Lulu is getting at is that the local banks were forced to merge, whether they wanted to or not. Lulu's favourite bank, the revolutionary bank which offered night banking and more progressive IT banking was one of those forced to merge. It was profitable, it served a niche market and yet they were forced to merge. You can read more about the bank in a biography, The Phileo Story.

And now, Lulu finds out that there is a Kuwait Finance House. and just the other week, PM opened Saudi Arabia’s Al Rajhi Bank.

well.... guess there are banks, and there are banks too.


Anonymous said...

:D~~ooooo is this the hidden hand of Anwar?....phileo.....also anwar? RHB previously also had an anwar crony inside...Nor Mohd Yaakob...the banker with a million lives...i also wish i was bumi~~~~~~~i think i should go for a tan..then apply for project IC in SABAH~~~~

Anonymous said... also kena remove hang punya foreskin dari 'down under' (not australia!)

kittykat46 said...

Hi Lulu,
The government has much more relaxed rules on foreign ownership and increasing the number of banks when it comes to Islamic banking.

If Lulu is willing to wear a "Tudung" (or even better, a Burka) , she may get a chance to start a bank, too..

zewt said...

aiyah... living in this country...we all know what is going on la.... like i always say....

we always ask question when we already know the answer.

we read news when we know it's all just bullshit...