Monday, July 14, 2014

Merger/Vesting Order/Change of Name

I never care about any merger plan, vesting order, change of name previously because I think the merger is definitely good for me as a consumer, user, etc as it involves many giant and powerful stuffs together.

Now, I care and I will provide you my reason(s) after this.
Firstly, merger may involve the retrenchment of workers, this will incur losses on the unfortunate worker
Second, vesting order and change of name incur extra monetary charges on discharge of charge on borrower! Each decision the bank do will cause inconvenience and extra works and money for others, so dear bank, please think wisely. And it is not cheap for the documents too. For example, Oriental Finance to Oriental Bank and changed to EON Bank, and then from EON Bank to HongLeong Bank. This 3 changes incur extra RM360 on the previous borrower.

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