Thu, 20 May 2010 15:59 . .
KUALA LUMPUR: Recently sacked Petaling Jaya Selatan MIC division chief V Subramaniam, or more popularly known as Barat Maniam, is calling for the appointment of an independent international auditing firm to audit the assets and liabilities of Maika Holdings.
In a press conference today, Maniam said the government, under the leadership of Prime Minister Najib Tun Razak, must come forward to solve the problem once and for all.
He said an EGM should be held soon and urged Maika Holding's CEO S Vell Paari to go on leave pending the conclusion of the sale of its shares and to "restrain any undue influence on the independent decision-making" by the auditing firm.
Maniam said Vell Paari should follow the example of Sime Darby's CEO Ahmad Zubir Murshid who had resigned following the company's losses.
"The auditing firm can ascertain the true value of the Oriental Capital Assurance Bhd shares and the balance of the landbank in Tumbok estate, in order to sell the assets transparently on the open market," said Maniam, who is also a Maika Holdings shareholder.
Oriental Capital is 74%-owned by Maika Holdings.
He said the proposed sale of the shares at 80 sen for every ringgit invested should be stopped immediately as it was a decision that "seem to have been made without any attempt to seek the views of the shareholders".
"Indian investors were taken for a jolly good ride for nearly 26 years by Samy Vellu and his son (Vell Paari) after entrusting a whooping RM100 million in the shares. The final insult for shareholders, in my view, has come in the form of “take it or leave it” at 80 sen for every ringgit invested.
Maniam also suggested that MACC should be appointed to audit committee together with former MIC deputy president S Subramaniam, DP Vijandran, KS Nijar and M Mahalingam.
Samy should go now
Maniam also urged Samy Vellu to step down "immediately" and allow his deputy G Palanivel to take over. He also chided Palanivel for not speaking up about being ready to be the next MIC leader.
"Samy Vellu wants to die on his chair. He will never leave his post. Palanivel should start to speak up if he wants to be a leader. Other leaders should also speak up for a change in leadership in MIC."
Maniam also alleged several offences committed by Samy Vellu in Maika Holdings and in MIED and provided documents claiming that the veteran president was involved in alleged cheating and corruption.
On his expulsion from MIC, Maniam said that he would be making an appeal against the decision.
He said that he was never against anyone else being appointed senator and had never blackmailed Samy Vellu, but had simply reminded the MIC president of his empty promises.
"The real reason of my expulsion is Samy Vellu's inability to stomach my show of support to ex-CEO of MIED P Chitrakala," he said.
Maniam's fallout with Samy Vellu reportedly began when the former alleged that the latter broke his promise of nominating him a senator's post.
Maniam was reportedly eyeing the senate seat which fell vacant in April following the end of of G Logachitra’s term.
He was sacked on May 10 through a letter from Samy Vellu he received on May 12 after he had confronted the MIC president over his promised senatorship, saying that the latter had "betrayed" him.
Samy Vellu had stated the reason for the dismissal was the SMSes in which Maniam had written that "MIC doesn't belong to you or your family" and "you have cheated the Indian community".
Maniam, who joined MIC in 1978, had said he made history by being the only man sacked three times in MIC. He was previously sacked in 1984 and in 1994.
Source From :http://www.freemalaysiatoday.com
No comments:
Post a Comment