Você está na página 1de 9

ASEAN impacts on Finance

Sector Workers and Trade


Unions
1. Mapping
2. Overview of financial sector status in ASEAN countries
3. Overview of ASEAN financial integration policies
4. Overview of finance sector workers in ASEAN countries
5. Recommendations

Mariette Nguyen, Research Assistant


UNI Apro, Singapore
1
Major Retail banks by
countries
► Singapore: OCBC Bank
► Indonesia: Bank Central Asia
► Malaysia: Public Bank
► Thailand: Siam Commercial Bank
► Philippines: Bank of the Philippines
Island

2
Major banks in ASEAN
countries
► Citibank: financial services
 major American financial services company based in NY
 from one of the world's largest mergers: banking giant
Citicorp + financial conglomerate Travelers Group on April 7,
1998
 Citigroup Inc. has the world's largest financial services
network
networ
 the world's largest bank by total customers & worldwide
branch network as of 2009. 
 suffered huge losses during the global financial crisis 2008
Major banks in ASEAN
countries
► HSBC: finance and insurance
 enormous operational base
 significant lending, investment and insurance activities
 global reach and financial fundamentals matched by few
other banking or financial multinationals
 Vietnam, Thailand, Singapore, Malaysia, Indonesia
► Standard Chartered Bank: banking
 British Bank, HQ based in London
 focuses on consumer, corporate, and institutional
banking, and on the provision of treasury services
 Singapore, Malaysia, Indonesia, Brunei
Finance sector status
► AsianFinancial Crisis 97-98 
Restructure
 Indonesia
 Malaysia
 Thailand
► Mergers & Acquisitions
► CMLV

5
Mergers & Acquisitions 2006-
2008
► OCTOBER 2008 - HSBC agreed to buy an 89 percent stake in Indonesia's Bank Ekonomi Raharja
Tbk PT for $607.5 million.
► JUNE 2008 - Malaysia's CIMB BUCM.KL agreed to buy a 42 percent stake in BankThai BT.BK for
about $177 million (2.3 times its book value).
► APRIL 2008 - Philippines bank PNB said it will purchase Allied Banking Corp for $564 million.
► MARCH 2008 - Malaysia's Maybank made the highest bid to buy 56 percent stake in Bank
Internasional Indonesia from Temasek Holdings TEM.UL and South Korea's Kookmin Bank.
► DECEMBER 2007 - Dutch financial group ING bought a 30 percent stake in Thailand's TMB Bank
TMB.BK for $675 million.
► MAY 2007 - Australia's ANZ Banking Group bought a stake in Malaysian bank, AMMB Holdings Bhd
for $357 million. Philippines' Banco de Oro Universal Bank bought a stake in Equitable-PCI Banking
Corp for $1.17 billion.
► APRIL 2007 - Japanese bank Tokyo-Mitsubishi UFJ bought a stake in Malaysia's Bumiputra-
Commerce Holdings Bhd for $382 million.
► MARCH 2007 - Canada's Bank of Nova Scotia bought a 24.99 percent stake in Thanachart Bank,
Thailand's top car loan lender, for 7.1 bln baht (1.6 times its book value). In February 2009, the
Canadian bank doubled its stake in Thanachart Bank to 49 percent. It spent about $420 million in
total.
► JANUARY 2007 - General Electric's finance unit bought a 25.4 percent stake in Bank of Ayudhya
PCL BAY.BK, Thailand's fifth largest bank, for $626 million. (1.2 times its book value). OCTOBER
2006 - SM Investment Corp bought a stake in PCI Banking Corp for $348 million.
► JUNE 2006 - Malaysia's Bumiputra-Commerce Holding Bhd purchased a stake in Southern Bank
Bhd for $1.74 billion.
ASEAN financial integration
policies
► Chiang Mai Initiatives
► Asian Bond Market Initiatives
► ASEAN Surveillance Process
► ASEAN Framework Agreement on
Services
►ASEAN Economic Vision 2015
►ASEAN Capital Market Forum

7
Finance Sector Workers
► Opportunities
 More employment
 Better paid

► Problems
 Retrenchment
 Contractual based
 Work stress
► Monthly basic salary
► Annual bonus (around 1-2 months’ of monthly salary)
► Performance bonus
 A gradual shift in core activities from one focused on deposits and credits to
that of insurance and marketing of financial services and products
 Shift in criteria for employment and job scope in response to the shift in
banks’ core activities
 Outsourcing of “non-core” bank activities to third party service providers

► Relations with the management

8
Recommendation
► Sales Culture in Banks
► Reformulation of International
Regulatory Framework applicable for
ASEAN Region
► Trade Unions/ Workers’ Participation
and Social Dialogue

Você também pode gostar