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TJ KB: Bank Yang Semakin Terpadam
By Kapal Berita
22/3/2001 10:55 pm Thu
BANK SEMAKIN TERBEBAN
Saham bank-bank tempatan sudah lama merosot tetapi ia begitu
ketara pada bulan ini. Banyak bank melapurkan keuntungan dibawah
sasaran. Kesukaran mengutip hutang sudah terasa. Keadaan BSKL kini
membuatkan bank semakin tidak berani menjamin pinjaman dengan saham
sebagai kolateral. Pinjaman perumahan nampaknya lebih selamat.
Ekonomi kini semakin bergerak perlahan. Penggabungan bank bakal
menyebabkan 10% tenaga pekerja atau 10,000 akan kehilangan kerja.
Bank sedang tenat kerana hutang berbilion oleh kumpulan kroni Renong
dan Lion yang begitu lembab untuk di susun kembali atau dilunas segera.
Renong, peminjam terbesar, berhutang RM20 bilion dan Lion,
pengusaha besi terbesar pula mengheret bank dengan hutang sebanyak RM10.2
PENGGABUNGAN KEDUA BAKAL TIBA
Menurut analis, keuntungan yang semakin berkurang oleh bank akan menyebabkan
SATU lagi siri penggabungan bank. Siri Pertama telah menggabungkan 54 buah
menjadi 10 kumpulan. Menurut persatuan pekerja bank (NUBE), terdapat 77,000
pekerja bank dan 17,000 dijangka tergugat. Tetapi kerajaan berpendapat 10%
atau 10,000 akan terbuang.
Pendeknya syarikat kroni telah menghisap kecairan dana dengan hutang yang
amat membebankan. Itu menyebabkan aliran tunai berkurang sehingga bank
terpaksa digabungkan - jika tidak ia akan tenggelam. Bank kini dipenuhi
oleh saham-saham kolateral yang semakin tidak bernilai sehingga keuntungannya
berkurang. Sementara itu nasib 10,000 pekerja sedang terapung diawang-awangan.
KESAN KEPADA RAKYAT
Menurut Azman Yahya (MD Danaharta), Danaharta telah melangsaikan RM47.49 bilion
NPL, dimana RM39.30 bilion dari institusi perbankan dam RM8.19 billion dari
institusi pesisiran dan bukan perbankan.
Dari jumlah ini RM27.10 bilion adalah NPL Sime Bank dan Bank Bumiputra Malaysia
Bhd. Sila maklum kedua-dua bank ini sudahpun terpadam..... tetapi gerangan yang
meminjam masih tidak padam-padam. Lama-lama wang anda atau anda sendiri akan terpadam.
Ketawa bolehlah beramai-ramai tetapi bila menangis cuma seorang. Anda hanya perlu
memandang ke Jepun dan Indonesia untuk menyaksikan demam yang menakutkan. Tadayo Honma,
presiden Nippon Credit Bank membunuh diri kerana semua jalan lain terlalu pedih
dan amat kontroversi. Di Indonesia, pengerusi IBRA, Edwin Gerungan berkerja dalam
keadaan yang begitu membosankan walaupun dia seorang yang cukup cemerlang sebelum
itu kerana asyik dikongkong oleh kroni yang banyak bersarang. Menutup lubang
memanglah senang kerana rugi cuma bertukar tangan kepada rakyat yang tidak tahu
depan belakang. Danaharta sendiri melabur dalam bonnya sendiri jika tidak pecahlah
tembelang. Malah ia sudah tidak ingin menanggung hutang bank lagi. Kita sebenarnya
sedang dan masih rugi - ia cuma dianjakkan beberapa tahun lagi. Bon-bon itu nanti
akan menyebabkan letupan ngeri bila tiba masanya nanti kerana tiada sesiapa yang
mahu membunuh diri...
Suicide in Osaka
Asiaweek: Siri TAG MT 34,35,36,37 : Tugas Yang Membosankan
-TJr Kapal Berita-
Wed, 21 Mar 2001, 1:47am EST
Malaysian Banks' Profit Declines May Induce More Mergers
By J.S. Dhaliwall
Kuala Lumpur, March 21 (Bloomberg) -- Malaysian banks, forced to
merge into 10 groups by a central bank that plans to let in more
foreign competition in six years, may find falling profits hasten the
tieups, analysts and bankers said.
Banks, already reeling from the depressed values of assets pledged to
them as collateral, are setting aside more for bad loans, as the
slowing economy cuts demand for new loans and old loans become harder
to collect. Malayan Banking Bhd., the country's biggest lender, Commerce Asset-
Holding Bhd., the No.2 banking group, and AMMB Holdings Bhd. have all
reported a larger-than-expected drop in profit in the quarter ended
Malayan Banking Bhd., the country's biggest lender, Commerce Asset- Holding Bhd., the No.2 banking group, and AMMB Holdings Bhd. have all reported a larger-than-expected drop in profit in the quarter ended Dec. 31.
``Competition for the retail market will be cruel and banks have to
re-invent themselves to face the slowdown and foreign competition,''
said Nik Hassan Nik Mohd Amin, executive vice- president of Bumiputra
Commerce Bank (M) Bhd, the commercial arm of Commerce Asset.
``Laggards will not make it by 2010, and that means 10 banks are just
the starting point.''
Banks have until the end of May to announce earnings for the quarter
ending March 31. Analysts and investors are concerned the rising
provisions could be coupled with more bad news further into the year.
Loan Recoveries, Growth
``Rising provisions apart, the issues are banks' loan growth and a
possible squeeze on margins later this year,'' said Scott Lim of CMS-
Dresdner Asset Management Sdn., which has 350 million ringgit ($92
million) under management. ``We are in no hurry to buy'' Malaysian
Banks have seen assets pledged as collateral drop in value as the key
Kuala Lumpur Composite Index slid by 37 percent from its peak of
1,021 in February last year. The Kuala Lumpur Finance Index, which
tracks 63 banking and brokerage stocks, fell 21 percent last year
against a 16 percent drop in the Composite Index. The Finance Index
is down 8.3 percent this year.
Maybank shares have fallen 24 percent over the last year, Commerce
Asset shares have declined by 39 percent and AMMB shares have dropped
58 percent. Maybank recently traded at 12.30 ringgit, AMMB at 3.04
ringgit and Commerce Asset at 6.40 ringgit.
Investors are concerned banks' earnings are likely to be hit by a
slowing economy. Malaysia's economy grew at its slowest pace in 1 1/2
years in the fourth quarter of 2000 and the official forecast is for
it to expand less than 7 percent this year -- from 8.5 percent growth
last year. The Asian Development Bank forecasts growth of 4.9 percent
this year for Malaysia.
That's hurting banks loan books.
Amirsham Aziz, managing director of Malayan Banking, said on Feb. 13
the lender was unable to recover its loans quickly enough as a weak
stock market hindered efforts by debt-laden companies to pay back
``We hope to see loans-loss provisions peaking,'' said Chen Kim
Loong, who manages 250 million ringgit at Malaysian Assurance
Alliance Bhd. ``The concern is that it will drag on longer than
expected, which won't be good for the banks.''
Bankers also predict loan growth will slow.
Yeoh Beow Tit, OCBC Bank (M) Bhd.'s chief executive officer, said the
bank will be cautious in issuing loans.
``We will continue to be selective and go for more low-risk
categories such as housing loans,'' Yeoh said. The bank's net non-
performing loans stood at 6.35 percent at the end of 2000 against
6.23 percent a year earlier.
Commerce Asset Executive Director Rozali Mohamed Ali said the bank
would lend less this year after fourth quarter profit fell 84 percent
as it set aside more money for bad loans and a fall in its market
Bank Negara's 10-year industry plan, announced March 1, will see
foreign lenders such as HSBC Holdings Plc, Citibank NA allowed new
branches in six years with more to follow.
``While the masterplan is welcome, implementation will be key. It can
be gleaned that the authorities will likely cut the number of local
banks to five or six before opening the sector,'' said Mike Oyson,
analyst at Deutsche Bank AG's financial institutions group in Hong
However, analysts say the 10 anchor banks may not reap the full
benefits of lower costs from the consolidation because they've
promised the central bank they would not retrench any of the 100,000
staff on their rolls till 2003.
That means banks will carry the excess staff even as Malaysia is
widely seen as over-banked, with some 2,680 bank and finance company
branches serving a population of 22 million. Next-door Thailand has
about 3,750 branches serving 61 million people.
Still, the central bank may be willing to yield on the issue. Maybank
said last week it expects to trim as much as 10 percent of staff
through a voluntary redundancy package which the authorities are
likely to allow. Also, Hashim Ismail, a parliamentary secretary in
the Finance Ministry was quoted in today's Business Times as saying
banks may cut as much as 10 percent of staff following the mergers.
Analysts said the slow pace of debt reorganization at two of the
country's largest diversified groups, Renong Bhd. and Lion Corp.
Bhd., is also prolonging loan recovery for banks.
``The pace of restructuring is slow as there are delays from the
Kuala Lumpur Stock Exchange and Securities Commission on some
approvals to reorganize companies,'' OCBC's Yeoh said.
Renong, the country's largest debtor, and its units owe banks and
other lenders 20 billion ringgit while Lion group, owner of
Malaysia's biggest traded steelmaker, owes 10.2 billion ringgit.
``With all that's happening, another round of mergers to create five
or six large domestic banks has to happen if we are to survive
against the big foreign players,'' said Lim Beng Leong, head of
research at Thong and Kay Hian Securities Sdn.
Malaysian banking merger to cause around 10,000 redundancies
KUALA LUMPUR, March 20 (AFP) - Malaysia's series of banking mergers will not
lead to massive retrenchment and fewer than 10,000 employees will be
affected, a senior official said Tuesday.
The country's 54 banking and financial houses are undergoing a major program
to merge into 10 core groups.
The National Union of Banking Employees has expressed concern that around
17,000 out of 77,000 workers in the sector could leave the industry in the
next two years.
But Hashim Ismail, the finance ministry parliamentary secretary, told
parliament around 10 percent of the total workforce would be affected.
"Out of the 10 anchor banks, four banks have given their assurance that they
will not lay off any employee as their services were required due to
expanding operations," he was quoted by Bernama news agency as saying.
Hashim said the remaining six groups were likely to carry out a staff
rationalisation exercise either this year or next year, but this would
involve fewer than 10,000 employees.
Some 1,000 bank workers have already accepted compensation offers to opt for
voluntary retirement last year, he said.
All those affected would be provided with adequate compensation and the
Institute of Banks would conduct training programs to equip them with new
skills, he added.
Top bank Malayan Banking Bhd. last week announced a voluntary redundancy
scheme for around 10 percent of its workforce as part of a rationalisation
and consolidation exercise.
Analysts have said the bank's move was likely to be the first of many job
cut announcements and warned this could affect domestic consumption and
further worsen the economic outlook.
March 20 , 2001 13:06PM
Bank Merger Will Not Result In Large Lay Off Of Workers
KUALA LUMPUR, March 20 (Bernama) -- The merger of 51 banking and financial
institutions into 10 anchor banks recently will only result in the laying
off of less than 10 per cent of the total workforce in the banking sector,
the Dewan Rakyat was told today.
The Parliamentary Secretary to the Ministry of Finance, Hashim Ismail said
those affected would receive adequate compensation from their respective
employers under a voluntary separation scheme (VSS).
"In fact, out of the 10 anchor banks, four banks have given their assurance
that they will not lay off any employee as their services were required due
to expanding operations," he said, replying to opposition leader, Fadzil
Mohd Nor (Pas-Pendang) during a question-and-answer session.
Danaharta to issue asset-backed securities by June
By Sidek Kamiso, 8.40pm
National asset management company Pengurusan Danaharta
Nasional Bhd plans to issue a series of asset-backed
securities of up to RM3 billion by June, in order to convert
its performing loans into cash.
Managing director Datuk Azman Yahaya said Danaharta has
shortlisted four local banks to convert the performing loans
it currently manages into the asset-backed securities, which
will be sold to local and foreign investors.
"We will probably introduce it by the second half of this
year because there are a lot of things to be done in terms of
rules and regulations, especially when you are offering
ringgit notes to foreign interests," Azman said at a media
briefing in Kuala Lumpur today.
Danaharta has a total of RM5.45 billion of performing loans,
of which RM3.71 billion are loans that have been performing
for more than a year.
Azman said the first issue would be small because the company
wants to ensure that the market fully understands the
programme before it introduces bigger issues.
"Don't expect us to issue RM3 billion to RM5 billion for the
first issue," he said, adding that the bulk of the loans are
from the conventional banking system.
Azman also said the exercise would enable Danaharta to sell
back the loans to banks and remove the stigma from borrowers,
who might have difficulties in getting further financing if
Danaharta was managing the loans.
"Some of these borrowers need support from banks," he said,
adding that it is also better for banks to manage the loans
as they have the resources.
Azman said Danaharta would no longer acquire non-performing
loans (NPLs) from the banking sector, although their level
has risen since last September. However, the NPLs are still
On the recovery proceeds, he said the main bulk of the money
would be reinvested in financial instruments, such as bonds
and the money market, with the balance going towards their
"We are sitting on a pile of cash," Azman said. Although the
company wants to invest the proceeds in bonds, there are not
enough of them in the market. As a result, Danaharta has
resorted to purchasing its own bonds for the investment,
making it the largest buyer of its own bonds.
Confusing Plans (hkw212, 19/03/2001)
It is indeed confusing when Danaharta announces on the one hand to
issue new securities to raise cash and on the other hand state that
they have so much excess cashflow that they have to buy back their
own bonds. It just doesn't make sense as they will end up paying a ton
Tuesday, March 20 12:50 PM SGT
Malaysia's Danaharta to Sell Performing Loans to
KUALA LUMPUR, March 20 Asia Pulse - In what is seen as a return to the
improved health in the banking sector, Pengurusan Danaharta Nasional Bhd said
it will not be acquiring any more non-performing loans [NPLs] from the banking
Instead, the asset management company would sell performing loans back to the
banks probably in the second half of the year, its managing director, Azman
Yahya told a press conference here Monday to announce its operations for the
six months-ended Dec 31, 2000.
Azman said he consideres the banking sector to be stable which would be able
to manage their own NPLs.
However, Danaharta would consider selling performing loans -- of some RM3
billion, back to the banking sector for the banks to service them.
This would not be an outright sale but in the form of asset securitization whereby
the sale process will be done in small portions via tenders, he said.
He said a series of sales of securitized assets could take between two to three
years and the size would grow as the market becomes familiar with them.
Danaharta is currently working out the details and is looking at rules and
regulations to allow even foreign banks to participate in the Ringgit-denominated
securities, he said.
Azman also said that Danaharta todate has restructured 74 percent of its total
RM47.49 billion [US$12,5 billion] NPLs portfolio, with the remaining RM12.40
billion targeted to be restructured by the end of this year at recovery rates of
between 50 and 60 percent.
He said the asset management company is confident of restructuring all the NPLs
by end of the year and Danaharta would be on track to achieve its targeted
closure by 2005.
"By 2005, we will be left with cash and bonds and will be in the position to
redeem the bonds", he said. With that, Danaharta which started operations in
1998, would have operated for seven years which is shorter than the anticipated
Reviewing the company's operations, he said, at end-2000, Danaharta had
carved out a total of RM47.49 billion of NPLs, of which RM39.30 billion was from
the banking system and RM8.19 billion from non-banking and offshore
Of this, Danaharta is managing RM27.10 billion of NPLs in respect of the Sime
Bank Group and Bank Bumiputra Malaysia Bhd group.
He said the RM47.49 billion comprise NPLs worth RM39.33 billion under the
primary carve-out completed on June 30, 1999 and another RM2.71 billion
under the secondary carve-out from July 1, 1999 to March 31, 2000.
Another additional NPLs worth RM5.45 billion are from Sime Bank and BBMB
placed under Danaharta's management [transferred under existing put option
agreements between June 30, 1999 and Dec 31, 2000.
In return for the NPLs acquired up to March 31, 2000, he said Danaharta issued
RM11.4 billion in face value of government guaranteed bonds worth RM8.22
billion and paid RM0.8 billion in cash to the selling financial institutions.
As for property tenders, as at end-2000, the recovery from foreclosure exercises
showed a decrease from 48 percent [as at end-June 2000] to 28 percent, mainly
due to the shortfall recorded upon foreclosure on the share collateral of one large
Danaharta had conducted four property tenders offering 449 properties
[excluding hotel and leisure properties] worth RM985.93 million and sold 72
percent of that properties since the first tender in November 1999.
As for hotel and leisure properties, on Oct 11, 2000, 11 hotels were offered for
sale in a joint tender by Danaharta [offering three foreclosed hotels] and the
Special Administrators of seven companies [offering eight hotels].
At the close of tender on Nov 15 2000, he said 15 bids were received, of which
three were accepted.
As at end of last year too, Danaharta had completed three restricted tender
exercises [RTEs] to dispose foreign loan assets, that is non-Ringgit loans and
marketable securities extended to or issued by foreign borrowers, in its portfolio.
The third RTE, which was held from Aug 14 to Sept 11, 2000, involved 45
accounts comprising 24 loans and 21 marketable securities worth US$168.81
million [RM641.48 million].
For 29 of the 45 accounts, Danaharta received a total of US$66.31 million
[RM253.98 million] in cash and Malaysian loan assets of RM8.17 million, which
translate in the recovery rate of 65 percent.
Two accounts were fully settled by the borrowers while Danaharta retained 14
accounts. No future disposal exercise are planned for foreign loan assets.
As for management of securities, in the course of its recovery operations as at
end 2000, it had in its portfolio securities with a market value of RM620 million.