'The 22 banks are challenging the government'.
So said a non-Umno minister in Utusan Malaysia
Referring to the Association of Banks Malaysia's (ABM) decision to continue endorsing credit tip-off service from CTOS, the minister said:
‘‘Tindakan bank-bank ini boleh dianggap melanggar arahan kerajaan. Apakah ini bermakna bank-bank lebih besar daripada kerajaan?"
Shouldn't he need a correction? It's actually market forces at work. The banks needs information to mitigate risk factors. For now, they trust CTOS.
Comments
I am speechless over this guy's accusation.
"melanggar arahan kerajaan" = "lebih besar daripada kerajaan"
If this logic applies then alot of UMNO minister are bigger than Badawi.
Posted by: GreenJellyBean
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July 25, 2007 09:09 AM
Another remarks from the minister which does make sense.
Has he consider what would happen when the bank give out loans without credit check. Another Bank Bumi fiasco???? Who will bail the banks out???
What alternative has the banks got?
Why don't he be more direct and ask a Umno putra to take over CTOS and such problem will not arise?
Posted by: AverageJoe
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July 25, 2007 09:39 AM
Mr. Kayveas just wants newspaper coverage. It's not even his ministry. Please go back to your office and try again.
Posted by: mecharojak
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July 25, 2007 10:42 AM
This is market forces at work. Banks need to protect their interests.
Wow, this also can be mentioned. No wonder most foreign direct investment not keen to go into Malaysia.
Where is the meat in killing CTOS?
These days we're getting a lot of bad publicity for a wrong reason.
Sometimes, doing business is a risk in Malaysia (which doesn't mean doing business in China got no risks at all). I would say these are unnecessary risks. Of which barriers are lifted, the economy of Malaysia shall move up at great speed.
We have all the resources within, but never bother to develop. We're more into rent seeking economy of not creating more value.
Is a case of penny wise, pound foolish.
Posted by: aku anak malaysia
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July 25, 2007 02:46 PM
Who cares about who is "lebih besar"?
We have ministers with the mentality of primary school children!
Posted by: reader
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July 25, 2007 05:17 PM
Trust CTOS? Can these people can be trusted now, do they put their name in CTOS now?
And, Bank Bumi fiasco? Did bank Bumi went burst bcos of loans to blacklisted people??
Posted by: joejak
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July 25, 2007 06:18 PM
I thought there are few cases filed against CTOS's?
While the court case is still pending on the legality of CTOS, isn't that Kayveas's comments might be subjudice?
If there are element of subjudice, aren't that Kayveas is against the law as drafted by parliament?
If Kayveas is potentially subjudice, against the law drafted by parliament, then isn't that means he is lebih besar daripada kerajaan?
Posted by: menarinari01
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July 25, 2007 10:28 PM
As an ex-foreign bank IT employee in msia, CTOS checking has been integrated greatly into number of loan modules. In my case, it is a straight thru processing without human intervention to produce a credit application decision. In system speaking, there are many programming works to do in order to skip the CTOS check, thus, giving an result impact to automated credit application decision.
Kayveas? just ignore that [ DELETED ]. Try to get free coverage like those infamous celebrity.
Posted by: chongwah
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July 26, 2007 12:46 AM
Has Kayveas been blacklisted by CTOS??
I wonder...
Posted by: Albert
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July 26, 2007 02:21 PM
he started 'demonising'CTOS campaign..so if CTOS don't close, he lose face.
Posted by: art chan
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July 26, 2007 05:42 PM