Lately, there was a letter from NUBE circulated to its members and also to the public, commenting on the Maybank CEO income in which to them the figures were a shocking discovery, based on Maybank Financial Report.
Based on the report, Abdul Wahid Omar annual income in 2009 was RM4,227,000.00 and slightly increase of RM470,000.00 in 2010. NUBE claimed that the figures were too massive and immoral if compared the contribution of Abdul Wahid 3 years employed with 5000 NUBE members in lowest income group in Maybank.
Yes if we comparing the figures of course it is too massive for 1 person income. But is he the only person in Malaysia with that figure income?? What about other companies in Malaysia?? Bear in mind that he is the CEO of Maybank, the biggest bank in Malaysia, owned by Malaysian Government!!! Do we know how much other banks are paying their CEO?? Public Bank, RHB Bank, CIMB, HSBC, Citibank, Affin Bank etc...have we thought of that? Last year, the minister of PM department, already clarified the comparison of CEO GLC income/salary with other competitor/private company. He was comparing the salary of TNB CEO with YTL CEO, Sime Darby CEO and IOI CEO and some others with rough figures were given to the parliment. Clearly shown that the figures were much much lower than private sectors!!
Why cant we pay GLC CEO with better salary or by right should be much higher than private sectors as we should be putting a benchmark to others?? Should we be so humble to pay less and hoping others would pay less too??? NOPE, in business, what matters are how much profit we are making under the CEO tenure and the company should be thankful with the contribution of the CEO by bringing good business opportunity and good image of the company by any means.
Bear in mind too that GLC CEO are chosen/appointed by the government and NOT by inherit or by application or interview like others!!Means the government would search their best choice based on performance, share market opinions, stability of personality, life style, people opinions, politicians opinions and most important the capability to drive GLC towards utmost profit region.
So, I guess, NUBE should be careful with the circulation of the letter as it would not tarnishing the good name of Maybank but NUBE itself as bank workers. Just wandering how much is the salary for NUBE President and NUBE General Secretary??
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