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| BAIDURI BANK GROUP HOSTS CHINESE NEW YEAR DINNER IN KUALA BELAIT |
| 27 February 2009 |
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Kuala Belait - In celebration of the Chinese Lunar New Year, Baiduri Bank Group today hosted a sumptuous dinner for its customers and business partners based in Seria and Kuala Belait. The event was held at the Chung Hwa Middle School Auditorium, Kuala Belait and close to 500 guests attended.
The evening began with Mr Pierre Imhof, General Manager of Baiduri Bank giving the welcome address. He highlighted the major events that have shaped Baiduri Bank Group during the past year.
Mr Imhof began by touching on the effects the global economic situation had on Brunei. It started as a financial crisis due to sub-prime exposure in the U.S. Then all financial markets lost confidence in the banking system. Some financial institutions collapsed, while others survived just because they have been secured by their governments. The crisis deepened in the recent months into a global economic recession.
"“It is a situation similar to what happened in the 30’s which will continue throughout 2009”, he added, saying, “Though to a much lesser extent, Brunei has been affected by the huge drop in oil prices".
Mr Imhof also touched on Baiduri Bank Group’s financial results last year. Despite the economic situation, the Group was still able to grow its business and achieved satisfactory net profit. Both Baiduri Bank and Baiduri Finance have performed better in 2008 than in 2007, in terms of net income and net profit after tax which grew by more than 20%.
Mr Imhof further shared with the guests on the development in human resources within the Bank, adding that when the Bank first opened its doors in July 1994, it had just twelve people but through progression through the years, the staff force has grown to around 500 today.
At the dinner, two schools received donations from Baiduri Bank to provide financial assistance to underprivileged students. The donations were presented by Mr Imhof to the principals of the schools, Mr Wong Hoi Hwa of Chung Lian School, Sungai Liang and Mr Chin Kim Min of Chung Ching Middle School, Seria.
Entertainment for the guests were provided by a well known performer from Malaysia, Datuk Leonard Tan and artistes from Malaysia to the theme of the night titled "Golden Moments".
A similar function will be held at Songket Ballroom, The Rizqun International Hotel, The Mall, Gadong on 28th February 2009 for customers and business associates based in Brunei-Muara and Tutong districts. |
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