Malaysian Case Study: As Tough As the Mountains – Forward and Fast Banking

By: Black Ant

In Oct 1999 re-born a bank named ‘BBB’. Immediately on the 1^st of that October all signage were up at all its premises and branches. An obvious and splendid success regarded to some observers. The signage brought a logo showing two parallel mountains in burgundy background.

According to the bank’s spokesman, the new bank was regarded tough and strong as the mountains’ ranges. To paint the signage needed special paint that not easily could be found at the hardware shop. The special paint needed quite expensive mixtures of several paints. Wow, how special was the paint compared to other local banks that used simple and inexpensive paints.

Several seminars had been conducted by its Communication Department to the staff how the logo and signage were made, also the measurements that should be strictly adhered to. As predicted by many staff and external observers, this bank was able to survive for only five years. Why collapse and swallowed?

There was a lot of unfairness inside the new entity. Cronyism, favoritism, and polishing the bosses were obvious and rampant. Many analysts and observers said, the merger of the previous two banks, that were x-voc and x-vvmv were done to kill certain factions in x-vvmv and to survive the other factions and opportunists at the x-voc.

Because x-vvmb performance was better, hence in order to make x-voc to perform. The later had to take over x-vvmb. At that time x-vvmv had nearly to touch profit of RM1 billion, which one US dollar was equivalent RM2.50 at that time. Suddenly three months after that it was declared that x-vvmv was making losses of RM1.5 billion (?). The question was, who were the hidden hands did that to happen?

The employees of the x-vvmv were unfairly treated then. Many of them who really professionally qualified and skilful were forced to retire early with fairly compensation. If they did not accept the offer to retire early, they then would be treated mercilessly and disgracefully.

The new management would never accept mistakes. Several projects revamped by the competitors’ bank, i.e. MMM previously, the new bank tried to implement. BBB never believed in history. BBB used concepts of hubs and spokes, that courses overlapping and unnecessary jobs entrusted.

And in midst of May 2005, BBB Bank was taken over by its subsidiary CCC Investment Bank. History repeats itself. Prior to that many people opined that when x-voc takeover x-vvmb as “Naga ditelan oleh ular lidi.” So, when this subsidiary taken over BBB, many could say that an elephant been swallowed by a black ant! Yeah, in Malaysia everything is possible, “Malaysia Boleh.” Again, history repeat itself, the whole former employees of BBB Bank were mostly professional and had many brilliant ideas were treated unfairly again especially the x-vvmb.

Then emerge a now bank named CCC Bank. Everything done followed the Blue Ocean Strategy. In the Blue Ocean Strategy, where they are yet competitors in contrast to the Read Ocean Strategy! A strategy that now already obsolete and outdated because does not base on realities of the normal human environment requirements. CCC is treating their staff like slaves. As long as you are productive, CCC will take care of them. Concepts of appreciation and sincere social obligation are not in their dictionary. They only listen on constructive comments and ideas, sorry to unconstructive one (according to their thinking and not the reality).

This new bank never believe in academic or professional qualifications and seniority unless for special agendas. The bosses always say these higher academic and professionals not necessarily know how to do the work or what the new bank was expected from them. They say this because they do not have those capacities and really naive! The Black Ant agreed to certain exclusive scenario only. If the bank felt that, what about those who do not posses, do they will perform better? For example, which faction to perform better if counted in ratio? Surely out of ten of academic and professionally qualified staff, 7 will be productive and perform better! Out of 10 staff who do not have such qualifications, may be 3 out of 10 will be productive and perform, but much of using their physical instead of their mental capabilities!

Undoubtedly, the answer is to have qualified and professional staffs are better if to stay forever as forward banking and universal bank. The bank further felt that, if seniority and qualification taken into accounts, if the staff refuse to work restlessly, he is a burden to the bank and considered unproductive.

The motto is forward, everything forward and fast! How long this can be lasted? More and more of its employees are no more stable physically and mentally. They could not fight openly or indirectly even through the union scaring of losing their jobs, cold storage, and humiliated. If they alone to survive is okay, but they have to think of their children well-being and future. The new bank does not care all that; only think of profits and amount of sales, less caring welfare of the staff especially in the bottom level and on the recoveries. Seem like money is the power of can getting everything. That money is the power that will justify any desires.

Arrogant and selfish cultures are being inculcated. Everything is haywire now. Last year when the share CCC Bank priced around RM6.00+++, the Bank able to give a month bonus to staff to celebrating Hariraya Aidilfitri. This year, at priced of over RM11, the bank could not afford that any more. Why??? Is the share price being manipulated by the powerful hidden hands? Or the performance just based on papers? Today the prices reach RM12.34 sen is fundamentally bubbles? As happened to MMM Bank, from share price of RM14.00+++, suddenly down to RM3.00+++. This might happen to CCC Bank at any time. Again who suffers most? Surely the staff, the public would re-confuse! If that to happen, the top management would migrate elsewhere and still could live lavishly. Outside CCC practices the Blue Ocean Strategy, internally to staff CCC uses the Red Ocean Strategy, where the victims would be the staff themselves!