mentera.org looking for non-Bumiputra partners

May 7th, 2007 gier Posted in Mentera Moden | No Comments »

Courtesy of Suanie over at Monsterblog, we were alerted on the new requirements by a couple of banks in Malaysia that law firms must have at least three partners with one bumiPutera fler and with a minimum 50% stake in the firm. Obviously, mentera.org is not a law firm, but we’ve already got MILF-PRON and who knows, someday we might start a law firm, the Mentera Integrated Law Fim with Partners Representing Onerous Needs & Co. (MILF-PRON & Co.). Apart from doing litigation (translation: blethering in front of a guy wearing a wig), in order to pay the bills, MILF-PRON & Co. might possibly have to do conveyancing (translation: transferring paper from one place to another, e.g. loan applicant <--> runner i.e. lawyers <--> bank — ergo to convey). In order to do that, we would need to comply.

Ipso facto, in anticipation of the day that MILF-PRON & Co. are set up, we would like to invite any non-BumiPutra person to avail his, but preferably her (are you hot or not?), uh, availability to us. We don’t currently have a non-bumiputera person on mentera.org, which is why we have to look ab extra. Currently there’s only me (gier) and Mack — who plays the role of (mostly) silent partner. I tried to get Mack classified as a non-buMiputra in absentia by arguing that he spoke Tamil like a Siamese native, but that didn’t work.

It really is a good proposition for you non-bumiputeras out there because you get to hold 50% of the firm. To be honest, I don’t like that requirement, because why should I hand over 50% of the firm to some dude in order to be able to ferry documents around in flagrante delicto to and from the bank? After all, I’m the one who will be doing all the hard work, getting the business, buying cigars and drinks for the bank execs, changing the toner in the printer, etc. Why should some Non-bumiputra fler hold half of the firm simply because it’s some sort of ruling I have to comply with? Plus, it’s obviously some sort of retrograde step, because for nearly 38 years, we’ve never had such requirements. It’s always been the other way round, so I find it really strange that the banks would … do … this … hmm … let me read that article again.

Ah, right. The law firms need to have a Bumiputra partner and that bumiputera partner must hold at least a 50% stake in the firm. Right, right. So, that’s ok then. Sorry about all that. Really must learn to read things properly first.

So, *ahem*, any law firms out there needing a bumiputra partner … ? I haven’t a law degree but if you’re willing to give me a 50% stake of your firm, I can go get one. They probably sell it on eBay nowadays.