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---------- Forwarded message ----------
Date: Mon, 05 Jun 2000 16:03:23 +0800
From: DAP MALAYSIA <[EMAIL PROTECTED]>
Reply-To: [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Subject: [BUNGARAYA] MAIKA Sothinathan of Teluk Kemang
Media Conference Statement by DAP National Chairman, Lim Kit Siang, in
Lukut
on Sunday, 4th June 2000 at 12 noon during his visit in support of
Barisan
Alternative Teluk Kemang parliamentary by-election candidate Ruslan
Kassim
Barisan Nasional candidate S. Sothinathan should explain and apologise
for
his involvement in the RM120 million MAIKA Telekom shares hijacking
scandal
ten years ago
==============================================
In the Teluk Kemang parliamentary by-election on June 10, 2000, the
voters of Teluk Kemang should elect a Member of Parliament who would
dare to stand up for justice, accountability, transparency and public
integrity and oppose without fear or favour all forms of corruption,
malpractices and abuses of power.
The Barisan Alternative candidate, Ruslan Kasim, has a formidable
reputation as a political leader who would not wilt under pressure in
his determination to stand up for the rights of the people against the
powerful and the mighty. Would the Barisan Nasional candidate, S.
Sothinathan dare to stand up in Parliament to speak up fearlessly
against corruption, malpractices and abuses of power or would he be just
another "yes man" to warm his seat in Parliament?
Nobody would believe that Sothinathan could be a courageous and
outspoken Parliamentarian to strengthen the voices of justice,
accountability, transparency and public integrity unless he could fully
explain and apologise for his role in the RM120 million MAIKA Telekom
shares hijacking scandal ten years ago.
At the end of April 1992, I brought up in Parliament during the debate
on the Royal Address the scandal of the hijacking of the nine million
Telekom shares which were specially allocated to the co-operative MAIKA
Holdings Bhd. by the Finance Ministry for the socio-economic upliftment
of the Indian community.
In his reply the following week, the then Finance Minister, Datuk Seri
Anwar Ibrahim said the Finance Ministry made a special offer of 10
million Telekom shares at RM5 per share to MAIKA Holdings on 29th
September 1990 for the interests of the Indian community, but MAIKA
Holdings had the finances to take up only one million Telekom shares and
the MAIKA Board of Directors recommended that the remaining nine million
shares be diverted to three companies which it named.
In the ensuing public controversy, the MAIKA Holdings Board of Directors
denied the claims made by the MIC President Datuk Seri S. Samy Vellu
that it only wanted one million shares and rejected the offer of the
remaining nine million shares, stressing that MAIKA had already made
firm arrangements for the financing of the 10 million Telekom shares as
well as denying that it had recommended that the nine million shares be
diverted to three companies.
To date, Samy Vellu has never been able to give a full and satisfactory
accounting about the MAIKA Telekom shares hijacking scandal, which were
worth more than RM120 million during the 1992 controversy - which would
mean that the Indian community in general and the 66,000 MAIKA
shareholders lost over RM70 million as a result of the hijacking of the
allocation of the nine million Telekom shares by three companies.
What is pertinent for our purpose here is the role of the Barisan
Nasional candidate Sothinathan in the MAIKA Telekom shares hijacking
scandal.
The three companies used to hijack the nine million Telekom shares from
MAIKA were Advance Personal Computers Sdn. Bhd., S.B. Management
Services Sdn. Bhd and Clearway Sdn. Bhd.
Sothinathan was the director of two of these three companies, namely
Advance Personal Computers Sdn. Bhd and S.B. Management Services Sdn.
Bhd., which was a RM2 company.
The full story of the RM120 million MAIKA Telekom shares hijacking
scandal has still to be told as the Anti-Corruption Agency failed to
bring to book those responsible for the hijacking of the special
allocation of the nine million Telekom shares for the socio-economic
upliftment of the Indian community.
As Sothinathan was the director of two of the three companies directly
involved in the MAIKA Telekom shares hijacking scandal, he should give a
full account of his role and involvement in the scandal and publicly
apologise to the Indian community and the Malaysian people for what he
had done.
If Sothinathan is not prepared to come clean and tell the full story of
the MAIKA Telekom shares hijacking scandal, then clearly he is not
suitable to be elected to represent the voters in Parliament in the
by-election.
- Lim Kit Siang -
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