Maika holding Bhd the flagship of MIC was started with great
promise to the Indian community. But after 28 years of operation there
was no hope of return. It became an embarrassment to BN, that PM Datuk
seri Najib Tun razak found a way out to get rid of Maika Holdings Bhd.
Oriental capital insurance (OCI) of Maika holding was forced to sell by
Najib government to G team resource of Ganalingam for RM106 million
(80cents per share). Maika set up out of sweat and blood of Malaysian
Indian community but cheated and ruined by Samy Velu and MIC. UMNO and
Najib couldn’t be bothered of the sweat and blood of Indian community
but wanted to get rid of this MIC ruined company so that it won’t be an
issue for PR to take a swipe at BN.
Oriental capital insurance Bhd was sold to Tony Fernandez of Air Asia
for RM156.91 million by G resources. G resources never responded to
calls on whether the RM50.91 million surpluses will be returned to
shareholders. Why is G resources of Ganalingam remaining silent about
this RM50.91 million? Gnanalingam owe an explanation to MAIKA
shareholders.
Within one year of purchase Tony Fernandez is able to apply for
listing of OCI in bursa Malaysia. Tony plans to raise RM1 billion from
the proposed listing. Maika holding or G resources could have done the
same and saved the investment of poor people who responded to the call
of Samy Velu and MIC to form an economic arm for Indian community. MIC
failed to float this one good investment and allowed it to slip away.
Can MIC ever do anything proper and meaningful to Indian community? What
one businessman can do within a short span of time, MIC as an important
BN component party could not accomplish in 28 years.
Looks like MIC can only give out hampers and provide entertainment to
Indian youths during election to get votes for UMNO. MIC wants to keep
Indian community weak and ignorant so that they are subservient to BN
and remain poor. This is the party created by UMNO to outsource Indian
affairs to MIC. Even the recent announcement by PM Datuk Najib Tun Razak
that RM100 million allocated to repair Tamil Schools were withheld by
ministry of education. Suria cooperative could only nominate names of
contractors but MOE will decide whether to award the job or not.
It’s sad that Indian community with so much talent and able people
could not build any economic vehicle with a RM100 million investment
company in 1980s. MIC squandered away many opportunities. Even without
UMNO support, Indians could have built an economic empire with the
Malaysian economy growing 8% to 10% continuously for about 20 years. MIC
not only loss RM100 million of Indian community, the Indian community
rights as citizens of this country were diluted and were on the wedge of
losing it for good. Indians are doing well in all other countries
except Malaysia due to the apartaid policy of BN government.
After years of suffering and erosion of basic human rights, the
community woke up to the calls of NGOs and opposition parties in
particular HINDRAF and the rest is history. Let’s hope and do our part
to keep the community alert and be aware of the political developments.
As citizens of Malaysia we have equal right as any other citizens
regardless of race or religion. UMNO using MIC has been cheating Indians
all this while. Indian community is not beholden to them and it is time
that we get rid of them in the coming 13th GE for a better future to our children and grand children.
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