Remember the MAIKA HOLDINGS scandal? BENAR, a blog community advocating media freedom, is challenging the media and government to explain what has happenned to the scandal.  Says BENAR in its website:

The controversy surrounding the issue of Telekom Malaysia shares to Maika Holdings way back in 1990 refuses to dissipate.

On 23rd May, 2008 readers at the popular web site Malaysia-Today were able to access a copy of the police report filed by Klang resident Thiagarasan A/L Palaniaya (the website identifies Thiagarasan as the Klang MIC chairman) demanding that the police conduct an investigation on the alleged losses, misuse of power, mismanagement and criminal breach of trust which had occurred over the allocation of Telekom shares to MIC in 1990.

Thiagarasan states in the police report that back in September 1990, the Finance Ministry had made a special offer or allocation of 10 million Telekom Malaysia (TM) shares to Maika Holdings. At that time, TM shares were generally traded at price levels in excess of RM10 per share. In 1992, the Indian community found out that the MIC wound up with only one million shares.

What had happened?

Read more of the scandal right here.

35 responses »

  1. kcwong says:

    Susan,

    I find your blog very difficult to read because of the black background. Moreover the words in white is so pale. I just glance through the title and read a few words because I do not want to spoil my eyesight!!!!

    I hope you can create a blog like Lim Kit Siang’s blog which is so pleasant to read ie black words with a white background. I am sure many readers experienced the same problem like me

    kcwong

  2. Johncumlambatly says:

    Scandals after scandals in this Bodoh Land.

    After reading the article posted, there is definitely elements of corruption and foul-plays namely the midget financial pecuniary use to purchase the rest of the 9 million Telekom shares by the three nominated companies and the disposal of these shares without declaration of true amounts of profits among others.

    Oh yeah, I think Anwar Ibrahim must be accountable to shed some light as he was the Finance Minister at that time. I don’t think he suffers any memory loss.

    Interesting coverage. I am following on this. thanks.🙂

    I am still awake awaiting Euro 2008.

  3. HermanSamsudeen says:

    Demo lagi:Ingat Minyak…..sekarang, kita jangan jadi hangat2 taik minyak….

    Kepada sahabat2 yang begitu terasa dengan kenaikkan harga minyak ini, jangan duduk peluk tubuh sahaja..ayuh kita buktikan. Tak guna kita mengeluh bersendirian.

    Ini adalah masalah satu negara, angkara BN yang durjana..ayuh kita bersama-sama, buktikan bahawa tindakan kerajaan BN ini salah dan ditoloak oleh rakyat. Ayuh turun berdemo sebelum minyak naik lebih tinggi lagi.

    Jangan lupa janji kita 13 Jun 2008, selepas solat jumaat. Kita berarak dari Masjid Kg. Baru hingga ke Suria KLCC.

    Sebagai tanda soladariti dan kemarahan rakyat pakailah baju MERAH!…kenapa mesti MERAH…ya..MERAH itu lambang keberanian dan semangat yang membara….ia juga adalah lambang untuk menunjukkan ketegasan dan keseriusan kita dalam membatah kenaikkan harga minyak ini…

    INGAT! MERAH itu bukan milik Umno…jangan lelong warna merah itu pada UMNO…MERAH itu adalah milik rakyat…Umno patut tukar warna rasmi parti mereka kepada warna yang lebih kusam…mereka tak layak pakai merah kerana mereka hingga kini masih takut untuk suarakan ketidakpuashatian rakyat atas tindakkan pemimpin mereka.

    Jadi, jangan lupa…13 jun adalah hari rakyat merampas perjuangan tulen dari Umno..kita bersatu bangkit dengan jiwa yang merdeka untuk menunjukkan pada mereka bahawa rakyat tidak takut pada kerajaan Umno-BN lagi.

    Selain dari Demontrasi ini juga, hari ini PAS Wilayah akan hantar satu surat bantahan kenaikkan harga minyak kepada PM pada jam 11 pagi di Perjabat Perdana Menteri, Putrajaya.

    Jam 2 petang pula, PAS Wilayah pula akan serah surat bantahan dan seruan agar pemimpin BN bertanggungjawab atas isu ini. Surat akan diserahkan pada sekretariat BN di PWTC. Bagi yang berminat, boleh berkumpul di Bus Stand depan The Mall jalan Putra.

    Sebelum itu. Pemudawilayah juga telah lancar Kempen Kutipan tandatangan yang dirasmikan oleh Presiden 8 Jun lalu.

    Dokumen memorandum boleh di download di sini. Bagi yang datang KL Jumaat ini, boleh datang terus ke pejabat YB. Titiwangsa di Kg. Baru bagi dapatkan salinan hardcopy secara percuma..

    Diharapkan rakan-rakan dan seluruh rakyat dapat memberikan kerjasama dengan mengedar dan mengumpulkan tandatangan bagi menjayakan kempen ini khusus untuk mendesak Kerajaan Barisan Nasional tunduk pada tuntutan rakyat.

    Bagi yang telah berjaya mengumpulkan senarai tandatangan, diharapkan dapat mengembalikan dokumen berkenaan kepada Sekretariat DPPWP sebelum 11 Julai 2008 (Jumaat) ke :

    Dewan Pemuda PAS Wilayah Persekutuan
    18-3 Tingkat 2, Kompleks Udarama, Jalan 3/64A Off Jalan Ipoh,
    50350 Kuala Lumpur
    TelFax : (603) 40421559
    Zulkarnain : 0193764089
    Herman : 019-2168557
    Blog : http://dppwp.wordpress.com
    Email : pemudawilayah@gmail.com

    Bagi mereka yang masih bersemangat meneruskan kempen bantahan…pemudawilayah juga menyediakan program Edaran risalah pada;

    Tarikh : 14 Jun 2008 (Sabtu)
    Masa : 5 petang
    Tempat : Pasar Malam Jalan TAR (Bermula di Hadapan Masjid India hingga Ke Pertama Kompleks.

    Dan seterusnya pada malam itu satu ceramah akan diatadakan seperti maklumat berikut;

    ceramah rakyat MEMBANTAH KENAIKKAN HARGA MINYAK

    14 Jun 2008 (Sabtu)

    9.00 malam

    Pejabat Wakil Rakyat Titiwangsa, Kg. Baru

    Speaker:

    YB. Dr. Lo’Lo Hj. Mohd Ghazali
    YB. Amiruddin Shaari
    Ust. Idris Ahmad
    Mohamed Hanipa Maidin

  4. Johncumlambatly says:

    Bet everyones sleeping. Damnit, I hate coffee intake after 9p.m. >:U

    Good Day. D:

  5. raj raman 666 says:

    Everything is OSA to cover this moron bloodsuckers.

    Forget about getting answer from morons but dont forget to wack them’.KEEP UP THE PRESSURE SLONEE

    rajraman.

  6. Margeemar says:

    Malaysiakini reports that the BN government is cutting back on expenses in order to save 2 Billion Ringgit. So Badawi just woke up from his siesta and realized that the Rakyat (Citizens) are really suffering from the fuel hike and all the other hikes and decided to ‘carry our crosses’ as a token of sharing the suffering of us lesser mortals.

    So, what did old El Stupido Grande do to share our suffering? Cut the entertainment allowance of his cabinet members by 10%; bar Cabinet members and Government officials from travelling to holiday destinations outside of ASEAN; put on hold all unnecessary purchases and oh yeah, trim the menu for government Dinner functions.

    I would have expected at least Badawi to cut the Cabinet members salaries by 30% and entertainment allowances by 50%. I guess it was wishful thinking on my part. Anyway, do you know that the Federal Governmnet allocates millions yearly to the various state agencies and state government departments?

    One such state government department that has caught my attention is the Jabatan Pendidikan Negeri Pulau Pinang (Penang State Education Department). I was appalled to learn that every year JPN is given millions for their budget. The funny thing here is, the JPN must spend all the money budgeted to them within the year because they cannot carry forward this amount to the following year. Now I know why teachers are sent for courses all over the country. What really gets to me is the fact that these courses are conducted at posh hotels. I did a check with the Cititel and City Bayview Hotel in Penang and found out that these two posh hotels are a favorite venue for JPN seminars, workshops, courses and dinner functions. What I fail to understand here is, why can’t these seminars, workshops, courses and dinner functions be conducted at say, Dewan Sri Pinang, Komtar, Caring Society Complex among others which to me seems to be under utilized!

    I even came to know that teachers in Penang were sent to a shady motel in Chandek Gura, Pulau Langkawi for their Kursus Induksi (Induction Course). If you asked me, I smell a rat here especially when conducting an induction course for Penang teachers in the middle of no where in Langkawi. I believe this nonsense is going on all over the country and not confined to the Education Ministry alone. This sort of thing surely entices corruption. This is an expose.

    I pray that when Pakatan Rakyat comes to power all these wasteful exercises will be stopped together with the ridiculous Najib inspired National Service and save the nation more than RM 600 million each year!

  7. Ahmad says:

    There is alot of such events organised by Ministries and goverment departments which waste all of our taxpayers money.
    Just take example.. when Minister attend ceremonials functions such as PM went to Sarawak, the organisers spend money to get PM visit Long-House with all traditional dance. You thing its freeeeeeee…
    All our taxpayers money will be spend to event management. That only PM what about other ministers?????
    We want BN goverment to table in parliment how mush was spend in total for event managements organising functions.

  8. temenggong says:

    I agree with kcwong.

  9. hutchrun says:

    The answer to what happened lies in the accounts that were maintained at the the then United Asian Bank, Jln. Masjid India Branch (now known as CIMB). The ACA took possession of the account statements, and soon after Mahathir cleared Samy Vellu. Mahathir too needs to be investigated on this, not only Samy.

  10. Lallang exile says:

    Guys,

    So Maika is resurrected. What about the other biggies like:

    1) BMF in teh early 80s
    2) Award of toll/roads to UMW affiliated company in the mid 80s
    3) Perwaja – what happened to M’s crony eric chia in the end?

    etc, etc.

    And that M’s son Moksani had the gall to say he wants to stay as the Circuit head because he “enjoys the sport very much!!!!”

    Guys, dig out ALL the skeletons in the closet and see how AAB plus PKR will respond.

  11. anak perelih says:

    Susan… use some soft color background… like Kadir jasin’s which unintentionally is the same theme as mine….

  12. caravanserai says:

    Maika shares
    The limelight of the mismanagement
    Even MIC members are harboring for truth
    Semi Retired Veil Looth maintain his innocence
    Let the members talk thugs ganging them

    For many years no answer is given
    Everything is kept in the dark for Indians
    They pawned and gave what they had
    Believing it was worth the efforts
    Only the reciprocation doesn’t arise
    They are left in the lurch
    Dreaming of the good old times

    Now is the time
    As good as any to find
    Will the police investigate again?
    Will ACA go for the truth?

    Else in this land of Malaysia
    The officers just wait for direction
    And our sleeping beauty snores it away
    Waking up in Sarawak promising them goodies
    So what about here the Peninsula?
    Nothing special for us here

    The Maika Holdings scandal
    The truth will be known
    Though it takes years to find its way
    The time is running short for Veil Looth
    He has to come clean
    Else he will sit somewhere in a dark corner
    The Indians and Malaysians in general will forget
    About the man who forgot his root

  13. aces says:

    I remembered that the balance 9 million Telekom shares were channeled to Semi Value’s associated companies. Despite all the evidence submitted, the ACA, in their usual conculsion…..no further action!
    I personally think that the ACA should be completed revamped first before we can see justice and truth that had been conveniently brushed aside in the numerous scandals plaguing the country.

  14. jane says:

    I would like to read your site but kindly change the background colour. it is difficult to read.

    cheers.

  15. Hee says:

    I agree with the rest about your background colour.

  16. JeyS says:

    Well…like many scandals in malaysia, the Maika scandal just disappeared!

    Our anney samy…also disappeared it seems with the shares intact around his growing waistline!

    You see our MSMs and its ‘political adversaries’ plan things such that, altantuya, lingam’s case, maika all die off. Now with all the stories on petrol price hike and its accompaniments….who thinks about the other major ones like the cases mentioned above?

    So what IS happening with Maika…what IS happening with Altantuya and what IS happening with the Lingam’s case????

    Anyone knows?

  17. hutchrun says:

    Samy can still be hanged on those bank account statements. there was `conversion`. Definition:

    In law, conversion is an intentional tort to personal property (same as chattel), where defendant’s unjustified willful interference with the chattel deprives plaintiff of possession of such chattel. – wiki

    Mahathir is the one who interfered with the ACA investigations.

  18. JeyS says:

    Tell me which cases mahathir didn’t interfere? He has his fingers everywhere!….and most likely his toes too..and then he borrowed his wife’s, sons’ daughter’s…..who knows…how many more!

  19. hutchrun says:

    I think that Anwar fellow knows quite a bit but he ain`t spilling the beans fast enough.

  20. Richard Dorall says:

    I ditto the comments of various readers that the BACKGROUND color or BLACK makes this blog site all but impossible to read.

  21. Richard Dorall says:

    Correction… “Background color of BLACK…” The color is so dark I can only proof read with extreme difficulty Sigh!

  22. Is it a case of ‘Out of Sight, Out of Mind!’
    If you wait any longer it’ll be ‘nevermind’
    How then can any problem be solved without a sound mind
    How not to have confusion when there’re too many masterminds?

    (C) Samuel Goh Kim Eng – 110608
    http://MotivationInMotion.blogspot.com
    Wed. 11th June 2008.

  23. tamade says:

    Who dare to touch that hero Victory Sam @ Highway Tol King? Don’t forget, the Mahafiraun and many VIPS are behind him. No action lah. Wait and see.

  24. Johncumlambatly says:

    This scandals assisted my memory on how Tan Sri Eric Chia was exonerated
    by the Judge, on grounds that witnesses’ failed to testify…It refresh my memory of the O.J. Simpson case when not more than 1 man was charged with when all convincing evidences entered could be annuled by the defense team.

  25. allanlee says:

    back ground color
    ============
    Do not change your page’s background color.
    Its a good chooice to me as other brighter background colors chosen would reflect more light to our eyes. I am using a laptop and I find most comfort visiting(reading) your site.

  26. Raven says:

    Samy and family stand to benefit?

    No wonder he is like this:

    http://mylivingwall.com/v3/index.php/Wall-of-Videos/Cartoons/Alien-vs-Hindraf

  27. Ahila says:

    I was finishing primary school when my dad bought a share for him and me. My dad was a KTM express train driver….he slogged day and night to earn a living. Somehow he trusted the FATSO and HIS LIES> that was the end of the money dumped in Maika. Many poor families sold their jewels to buy these so called shares…imagine their misery. But FATSO and HIS EGOISTIC nature just couldnt careless.Lets forget about other faulties…LET THE FATSO EXPLAIN ABOUT MAIKA TO THE INDIAN COMMUNITY NOW….No, not explain;wrong word,enough of lies- He should admit he stole people’s money for personal gain. LETS RESURRECT…MAIKA SCANDAL !!! OR LET THE VICTIMs STONE HIM IN PUBLIC for his cruelty to his own race.

  28. Ctizen Me says:

    Ten years ago all the worms were coming out of the woodwork in Zimbabwe.. Now I am really geting worried. Truth in this country is stuck in the throats of its citizens. If we want to become a developed country we have to operate our throats and deal with the truth. If we are not prepared to do it then we should jist wait for the inevitable.

  29. Mahathir and his menagarie of thieves and plunderers. They are like malignancies on the face of Malaysia that need to be rooted out totally and completely leaving no trace of their shit on the Malaysian landscape.

    This man Mahathir has no conscience whose favourite phrase is ” I don,t care” . That speaks volume of his character, a character devoid of any kindness. Any acts of his are designed to inflict the most damage to whoever has displeased him. I would classify him in equal standing to Hitler and Stalin and if he were to be around at that time, they will be the best of friends. And that shit Semi-value, is just the after-thought.

  30. Kani-niah says:

    I like mahathir live another 10 years – with cancer slowly eating him up.

  31. Raymond says:

    “Many poor families sold their jewels to buy these so called shares…imagine their misery”….Ahila

    Because the Fat pandi with a wig promise some sold their jewels and use that to get loans to invest in the MAIKA. Then the pandi never paid any money to the loans to the bank holding the shares and the borrowers are made bankrupt.
    A few thousand indians bankrupt because of this fat pig.

  32. Samy Value says:

    All you indians are ungrateful pigs nandrikattan nahin. I do so much for you you cannot appreciate all that good. Look at brickfields, indians own it. Look at Lotus restaurant. look at Ananda Krishnan. Look at Scott Villas. Look at all the doctors and lawyers and businessmen.
    You indians who cannot make it are good for nothing nahin. Useless idiots everything Ram Ram.
    You think your Ram can build bridges and put food in your stomach. Learn how to work. There are so many examples for you to follow.
    Don`t expect me to adopt you from cradle to grave.

  33. hutchrun says:

    Well samy does have some points. I hear even Kayveas took a scholarship from MIC and then took aeons to pay back. Ditto that Hindraf Moorthy in Kamunting.
    And when it became public they sent immediate payment. But in the time lag they deprived many others from availing of the funds.

  34. Ctizen Me says:

    The Indians have paid the price for having their beloved leader for too long.A leader is a reflection of the people around him. They keep telling him how great he is and he keeps tellin them that his work is not finished. The turkey has now come to roost and it is time for Thanksgiving.

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