Banking resignations create concerns
OF late, the spate of resignations and movements in the banking industry among its heads have created some concerns in the market.
These concerns were not unexpected as it is a very important sector and when it faces issues such as difficulty in finding successors, one would question whether the talent pool has been confined.
If indeed so, how can it be addressed expeditiously so that shareholders would not be at the losing end? I see that all the listed banking entities must have a clear succession planning and have their talent pool broadened to embrace diversity as it is about corporate governance.
We would also like to highlight that Astro's failure in the Indonesian courts to enforce its arbitration award is instructive.
This brings to mind another case regarding a subsidiary of Malaysia Smelting Corp Bhd, which had its permit for a second extension of 10 years to 2023 to operate a mine, rejected by the Indonesian regulators.
In this regard, PLCs wanting to venture into such markets where there are many uncertain issues must take into account the risk premium before making the decision to venture, more so in the frontier markets.
Nevertheless, the rewards can be equally huge if it is successful. Rita Benoy Bushon is MSWG CEO/