FARID ALIAS is MAYBANK CEO & PRESIDENT

UPDATED: 1705hrs - 

Datuk Abdul Farid Alias Is The New President, CEO Of Maybank Effective Today

KUALA LUMPUR, Aug 2 (Bernama) -- Datuk Abdul Farid Alias, 45, has been appointed the new President and Chief Executive Officer of Malayan Banking Bhd effective Friday.

He was previously the bank's Deputy President and Head of Global Wholesale Banking.

He replaces Datuk Seri Abdul Wahid Omar who resigned on June 4 to take over as Minister in the Prime Minister's Department in charge of the Economic Planning Unit (EPU).

Abdul Farid was also formerly Khazanah Nasional Bhd's Director of Investments and the government investment arm's nominee on the board of UEM Group Bhd in 2008.

Today's announcement was made by Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor at a press conference at Menara Maybank.

Maybank is the country's largest bank and is ranked among the top 100 banks in the world.

Abdul Farid, who was also present at the press conference, said he was informed of the decision at 11 am today.

-- BERNAMA

After a string of unpleasant appointments at GLCs in the past two months or so, finally there is a wise decision. 

Speculation has been rife in the past weeks but a NST news alert minutes ago said - Datuk Farid Alias will be the new Chief Executive Officer of Maybank. 

I think those in decision making positions (on GLC appointments) have finally come to their senses and made the right decision in appointing Datuk Farid to lead Maybank, one of the TOP 100 banks in the WORLD. 

Congratulations bro!

An official announcement is expected anytime today. 

p/s TQ PM 

Robbery in GOVERNMENT-linked Companies?

WELL DONE MACC! 

Firstly we must congratulate our graft busters. Despite their limited manpower (lowest by any standards) the MACC guys have done/been doing a good job. 

Not many Malaysians appreciate the MACC's achievement and initiatives to drive corruption out of our life. 

They will most certainly remain a permanent target of politicians and other corrupt human beings who masquerade as businessmen and corporate tycoons. 

I'm sure the corrupt who occupy comfortable seats in our GLCs will also be aiming their guns at the MACC now. 

3 in GLC subsidiary held

By SUGANTHI SUPARMANIAM | news@nst.com.my

ALLEGED ABUSE OF POWER: Part of MACC probe into failed RM30 project

PUTRAJAYA: THE Malaysian Anti-Corruption Commission (MACC) yesterday arrested three high-ranking officers of a government-linked company (GLC) subsidiary  to help in an investigation into alleged  abuse of power in a failed RM30 million project.

All three are in their 50s. Two were arrested in Kuala Lumpur while the other was arrested in Johor Baru last night.

MACC investigation director Datuk Mustafar Ali confirmed the arrests of the trio, who once held the positions of director, chief operation officer and chief executive officer.

"Their arrest, all men, is to help in the investigation into the subsidiary's project. They were released on bail once statements were taken from them," he said yesterday.

All three were released on a RM500,000 bail each. - MORE in NST

Who/where next?

I think MACC should also take a look at the various 'Tabungs', either Government-linked or not. We must ensure these 'Tabungs' ($) are not siphoned out or manipulated by 'robbers' masquerading as managers and directors. 

Also... please keep a close watch on Khazanah Nasional Berhad and their band of 'investment gurus' from outer space. 

p/s Wonder if the Khazanah guys are still pursuing their Malaysia Truly Asia 'theme park' next to the National Monument in KL. Why the elegant silence?