Public Bank's CEO designate demonstrates how when skin matters, the pool is indeed limited

Quah Poh Keat might have made a good accountant, given his experience in "audition" but CEO of a bank?
Then again, Public Bank is no ordinary bank.  A 83 year old who saw it fit to be chairman of  Berjaya Toto and the bank, and who oversaw massive loans from that bank to Berjaya(more about that later) , remains to this day its chairman, while the CEO of the same age continues to run the bank out of his hospital bed. That said, when out of bed he continues to display the usual conservative style  that has marked his leadership, accentuated as always by his dancing girls.
This is how the bank, using public funds, celebrated the his birthday in 2009:

That same sense understated style  is seen again at an awards night for  salesmen and women from its mutual fund business: 

















Yang Berbahagia, Tan Sri Datuk Teh Hong Piow, the Chairman of Public Bank, Public Mutual, 3rd richest man in Malaysia and one of the richest man in the world... driven in in a 'float' carriage by Malaysian Supermodel Amber Chia



Many might think me unfair , but let's start first with a bit of history:


The 4  June 1966 advertisement in the Straits Times, (see link) congratulates one Teh Hong Piow, General Maneger, Publiic Bank Bhd, on being conferred a datoship by the then Sultan of Pahang:

http://newspapers.nl.sg/Digitised/Article/straitstimes19660604-1.2.132.3.aspx

On 6 August 1966 , Public Bank Bhd opened for business, its MD the same Dato Teh Hong Piow.

However, Teh (nw Tan Sri Dato Sri Dr) tells the story very differently:

From THE STAR 18 October 2007:
Teh Hong Piow, then 36, beat all the odds and became the founder, owner and managing director of Public Bank Bhd, which opened its doors for business on Aug 6, 1966, in a three-storey building at No 4, Jalan Gereja in Kuala Lumpur
..........

In 1960, the 30-year-old Teh left OCBC to be part of a small group which helped start Malayan Banking. He was one of the management staff charged with building the bank from scratch.

He rose swiftly through the ranks and became general manager within four years.

In 1966 came the decision to strike out on his own.

One of his earliest breakthroughs – a foray into housing development – generated some RM10mil, which was used as seed money to set up the bank.
(http://biz.thestar.com.my/news/story.asp?file=/2007/10/18/business/19198449&sec=business )

So -Teh left Maybank in 1966-got into property development , made RM 10 million-and started his own bank in August that year. Admittedly, the story was hard to believe, but now the public record tells a very different story.
MORE TO COME 

Comments

  1. ROBINSONOctober 13, 2013 at 4:57 PM

    "Public Bank's CEO designate demonstrates how when skin matters, the pool is indeed limited"

    What is the point of this article? There seems to be no correlation between the title and the article's content


    ReplyDelete
  2. UnknownOctober 13, 2013 at 5:59 PM

    I am a minority shareholder of Public Bank. I don't mind how the money is spent to celebrate Tan Sri's birthday. The dividend returns are very good compared to other counters and also the share price has appreciated in value, compared with when I first invested (around RM6 per share then).

    BTW, it is the company's funds that are being used; not public funds like in the case of the Government or GLCs which just spends, spends and spends our tax dollars.

    If you have so much concern about Public Bank why don't you invest in a few lots and go to the AGM to protest? If you are not a shareholder (minority or otherwise) I don't think you are in any position to comment.

    ReplyDelete

Post a Comment

Popular posts from this blog

"Not new or worthy of consideration" : WA Corruption & Crime Commissioner confirms but dismisses Anne Azza Aly 's referring queries about PAVE, her work to Malaysia

Image
by Ganesh Sahathevan       John McKechnie The issues raised on my related RealpoltikAsia blog in the posting:  ALP's Anne Aly's Phoenix Consulting of Dubai provides covert intel training-Who does she report to in Dubai, and then there is the matter of Malaysia....... were brought to the attention of The Hon John McKechnie QC,the current Commissioner, WA Corruption and Crime ,given the security implications that arise from the connections between PAVE and one David (Dave) Allen, currently Assistant Director Intelligence,WA CCC. McKechnie's response is as follows: Thank you for the email. I am the Corruption and Crime Commissioner. I will decide if and when Mr Allens security clearance should be reconsidered but nothing in this email is either new or worthy of consideration. The Hon John McKechnie QC Readers have now confirmation from no  less a personage than the WA CCC Commissioner himself, a former judge and QC,of the fact of Aly's Dubai connection, and her ref...
Read more

If Damien Tudehope's COVID hotel quarantine fee statements are correct, SLHD revenue reported in financial statements signed by former CEO Teresa Anderson is overstated, and false

Image
 by Ganesh Sahathevan                     Tough talking Damien Tudehope may not have the power to impose th.  bulk of his quarantine fee, if any Readers will recall that former NSW Police Commissioner Mick Fuller (now a PwC partner) said in his notice that Revenue NSW " will be charging a mandatory quarantine fee". Readers will also recall that the rormer NSW Minister For Financial Services, Damien Tudehope insisted that the quarantine fees charged by Sydney Local Health District, pursuant to the NSW Health Services Act include charges for police security. However, there is nothing  in the SLHD's financial statements for the relevant periods (see links below) to reflect any payment from the COVID quarantine fee revenue being made over to NSW Police. SLHD's revenue must then have been overstated, by the CEO concerned Teresa Anderson.  SLHD Financial Statements https://www.health.nsw.gov.au/annualreport/Publicat...
Read more

Strata managers' aversion to contact with tenants can leave strata managers exposed to personal liability

Image
 by Ganesh Sahathevan      Advice for living in, or buying into, a strata community Strata managers are employed to manage strata schemes which are often home to renters as well as owners. However, in evasion of that which they are paid to do there are instances where strata managers have attempted  to evade their duties by refusing to  deal with tenants.   Even this writer can recall an instance where the strata manager warned that it was against the law for tenants to contact him directly.  The instances where strata managers have refused to deal with tenants occur when the issues raised concern fairly pedestrian maintenance issues, for example blocked plumbing and the like. Having said that, tenants do actually have a legal right to a great many things, including being informed (and presumably make representations) when strata schemes consider re-development. Strata managers who seek to stand in place of strata committees  are even more e...
Read more