Flood
Table of Contents Hong Leong Bank Berhad 2 Background 2 Expansion in Peninsular Malaysia 3 Owner 4 Board of Directors 4 Secretary 4 Values, Vision and Mission Statement 5 Vision 5 Mission Statement 5 Social Responsibilities 6 Scholarship 6 Environmental Preservation 6 Student Assistance 7 School Building Fund 7 Community Welfare 7 Codes of Ethics and Codes of Conduct 9 Interview with Hong Leong Bank Branch Manager (Satok, Kuching) 9 Assessment toward Hong Leong Bank Ethical Practices 14 Recommendation 15 Conclusion 16 List of References 17
Hong Leong Bank Berhad
Background
Hong Leong Bank was founded by Mr Lam Ji Chew and began its operations in 1905 in Kuching Sarawak under the name of Kwong Lee Mortgage & Remittance Company. The company granted loans against the security export commodities such as pepper, rubber and other indigenous products. It also provided the services of remitting money of overseas Chinese to their families in Southeast region of China.
The company went through a very difficult period of growth when a number of economic crises occurred. The First World War broke out in 1914 causing panic in the financial circles. A few years after hostilities ended, the Post-war Reccession of 1920-1921 set in. The Great Depression lasted from 1929 to 1933 caused a sharp fall in the export in the export earnings of commodities and many business concerns, including some banks, were in financial difficulties.
Kwong Lee Mortgage and Remittance Company survived all these setbacks because of its strong cash reserves and its conservative operational policy. Immediately after the Depression, on 26 October 1934, the company was converted into public company under the name Kwong Lee.
Expansion in Peninsular Malaysia
In the late 1977, Yang Amat Mulia Tunku Osman Ibni Tunku Temenggong Ahmad, a member of the royal family from the State of Johor, took over the control of the Bank and changed the direction of its
Hong Leong Bank Berhad
Background
Hong Leong Bank was founded by Mr Lam Ji Chew and began its operations in 1905 in Kuching Sarawak under the name of Kwong Lee Mortgage & Remittance Company. The company granted loans against the security export commodities such as pepper, rubber and other indigenous products. It also provided the services of remitting money of overseas Chinese to their families in Southeast region of China.
The company went through a very difficult period of growth when a number of economic crises occurred. The First World War broke out in 1914 causing panic in the financial circles. A few years after hostilities ended, the Post-war Reccession of 1920-1921 set in. The Great Depression lasted from 1929 to 1933 caused a sharp fall in the export in the export earnings of commodities and many business concerns, including some banks, were in financial difficulties.
Kwong Lee Mortgage and Remittance Company survived all these setbacks because of its strong cash reserves and its conservative operational policy. Immediately after the Depression, on 26 October 1934, the company was converted into public company under the name Kwong Lee.
Expansion in Peninsular Malaysia
In the late 1977, Yang Amat Mulia Tunku Osman Ibni Tunku Temenggong Ahmad, a member of the royal family from the State of Johor, took over the control of the Bank and changed the direction of its