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http://www.nst.com.my/Current_News/NST/Saturday/National/20070512081549/Article/index_html
KUALA LUMPUR: AmBank has withdrawn all letters sent to legal firms stipulating its requirements of Bumiputera equity participation.
“We would also like to apologise for any misunderstanding that arose,” the bank said in a statement yesterday.
Ambank and Maybank had come under criticism from the legal fraternity and political groups over their requirement that law firms needed at least 50 per cent Bumiputera equity before they could do any business with the banks.
The groups said the firms should be judged on their merit and not ethnic composition or equity.
Maybank had said on Wednesday it would, with immediate effect, give due consideration to all legal firms, whether with Bumiputera equity ownership or not.
