BUMIS TOP MANAGEMENT CAN'T EVEN GIVE ANOTHER COMPETENT BUMI THE CHANCE.

Give Bumi the Opportunity1-18th.June

THE HYPOCRISY OF BUMI MINISTERS & DECISION-MAKERS.

Permodalan Nasional Bhd (PNB) the controlling shareholder of Guthrie decides to remove Tan Sri Abdul Khalid Ibrahim from the board of directors. Khalid was removed as the Group CEO at the end of 2003 and has remain a director till the recent decision.

PNB is owned by Yayasan Pelabuhan Bumiputra (YPB), a bumiputra investment entity.“The shareholder need not give a reason on who is best to represent their interests,” Datuk Abdul Wahab, the current CEO of KGB told a press conference after KGB’s annual meeting.

Datuk Abdul Wahab is right legally, when he say that. But, the people who vote out Khalid are the representative of the shareholders, i.e. all the shareholders of YPB. So, is the shareholders of YPB entitled to know the reasons?

There must be a valid reason for removing Khalid, first, as the CEO and now as the Director -

1) Khalid must have committed a sin of failure or corruption

(but so far, there is no attempt to indict him, and we have not heard of any investigation by ACA, nor a public accusation of any malpractices)

2) Khalid has not failed in his duty to create shareholders' wealth as the financial results of Guthrie indicates so.

3) Khalid has proven to be a good and successful Bumiputra entrepreneur.

Our Mamak Minister say that we should give competent Bumiputera managers the opportunity to manage and succeed; but PNB representative Directors don't do the same - they kill any talented and competent Bumiputera managers who don't carry their balls and play their game. and PNB IS THE BIGGEST BUMI INSTITUTIONS BY THE BUMIs, FOR THE BUMIs - I FELT SAD FOR MANY OF THE BUMIs AS THEY HAVE BEEN REPRESENTED BY THE KLEPTOCRATS OF THEIR OWN.

CAKAP TAK SERUPA BIKIN!