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

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