Wednesday, August 18, 2010

What the devil is going on in EXIM Bank?

Anonymous said...

Dear YDP,

Congratulation for your brave efforts. We need more Malaysian of your values for 1 Malaysia to move on.

Exim Bank is in big mess now due to the following reasons:-

1. Banking system failed. Vendor not able to deliver but payments made million of ringgit. looks so stupid on exim. Extention after extention given. Already coming to 3 years, at the cost of exim bank's money. Problem started from vendor selection. Top Management has been forcing lower staff to accept unfinished modules, to mislead the Board. exim is having integrity issue.

2. Corporate gorvernance at the mercy of ceo. Roles of various board committees been compromized, as consented by Board.(why?) As such no more check and balance.No more good corporate governance.

3. Purchase of new office building made tro another bank's loan. Joke of the year. This high cost transaction was not prudent for any bank, which would buy asset in cash. Renovation was delayed for almost a year, which is very costly to exim. Opportunity rental lost exceeding million of ringgit.

4. staff appraisal for previous year was not transparent. Changes made without justification and reason. Staff did not know their stengths and weaknesses. Management by way of favouritism and cronysm.

All the above caused our staff morale to be at bottom low.

Suggesting:-

1.your office to seek clarification and verify from Bank Negara Malaysia and Jabatan Audit Negara. Should seek feedbacks from middle and low level staff, not only management staff.

2. Ask PAC to conduct audit, to avoid further losses, which has been swept under carpet.

Thank you.