HOW WILL NAJIB BLAME THIS ON THE CHINESE: MAYBANK TO CLOSE 27 BRANCHES - LAYOFFS MOSTLY MALAYS

Maybank Closing 27 Branches (7% of Branches), Abolish The GST Lah Dunggu, Melayu Miskin Dulu

This is from the Rakyat Post here : http://www.therakyatpost.com/business/2016/08/25/maybank-closing-branches-with-low-demand/

Maybank closing branches with low demand

KUALA LUMPUR, 25 Aug 2016:

branches shut down if demand lower-than-expected

leaked list of Maybank closing down 27 branches

Msia’s largest bank by market cap, 400 branches nationwide

pretax profit slipped 26.5% to RM1.58b for 2nd qtr ended June

six months pretax profit declined to RM3.51b

overhead expenses increased by RM205.1 million

My comments : 27 out of 400 branches represents 7% of total branches.

Maybank is another GLC bank that is a heavy employer of Malays.

Hello morons, so what does this mean?

It means about another 270 people have become economically unsustainable in their jobs (assuming a branch has 10 employees).

It means 27 branch managers, assistant branch managers, bank officers, bank tellers, bank clerks, office boys, security guards etc will also be laid off or redeployed elsewhere (also unsustainably). And my guess is the majority of these will be Malays as well. Melayu miskin dulu.

So Maybank has lost income from 27 bank branches. This time it is not just the oil prices or the weak economic sentiment around the world.

Its that stupid GST taxes.

The GST is killing the economy.

The Budget is coming around again. Just abolish the GST.

Here is a face savng device - just say the GST will be postponed for FIVE years. We will relook the GST after another FIVE years.

The economy is dying. Just remember this - Melayu misin dulu. Abolish the GST.

- http://syedsoutsidethebox.blogspot.my/