OCBC IS NOT GOING BANKRUPT!
90 years old retired female teacher, already certified mentally sound by two medical professionals - a psychiatrist with 30 years of professional experience, and a clinical psychologist - wanted to withdraw $9,000,000 from her bank account.
The Overseas Chinese Banking Corporation (OCBC) refused to comply!
The poor teacher wrote a lawyer's letter to OCBC.
OCBC still refused to return her, her money!!
She then wrote a letter to MAS chairman Goh Chok Tong.
OCBC still refused!!!
She then wrote to OCBC Chairman.
OCBC still refused!!!!
She commenced law suit.
OCBC froze her account!!!!!
The case is now in high court.
You can read about it here (link valid for next 6 days).
I shall not speculate on OCBC's action.
But one thing I do know for sure - OCBC is NOT on the verge of bankruptcy!
If OCBC would rather go to court than to return 9 millions, it certainly must have had a very good reason that far outweighs the bad publicity and the legal fees that will be incurred...
...and this reason, of course, most certainly and most absolutely has NOTHING whatsoever to do with imminent or not-so-imminent bankruptcy.
I am absolutely confident that OCBC has some other reason for insisting in its court document that the woman be examined - yet again! - by a doctor (after having already insisted on, and obtained 2 medical reports from the psychiatrist （30 years of experience) and the clinical psychologist)
But if I were you, I will not put any money in OCBC any more!
Not because OCBC is going bankrupt (It's not! Trust me! I am a very trust-able member of Young Pay-And-Pay, as are all my fellow members!), but because it is a little bit/ slightly cumbersome to withdraw money from OCBC.
Try DBS instead. DBS, I am sure, will return you your millions any time you want. DBS is owned by our number 1 (as ranked by us in Young Pay-And-Pay) government. And as we all know, our government will never, ever, withhold any of our hard-earned money...