Maika Holdings: 'rape' of the Indian community

In essence it is a story how the government had betrayed the Indians in this particular episode.

It is also a damning indictment of institutions like the Anti-Corruption Agency and the mainstream media, who may not have been able to prevent the occurrence of this ‘rape’ of the Indian community, but could certainly have helped to bring the guilty to book and thus help prevent further rot in this country by a proper discharge of their watchdog roles.

It is an amazing to learn that the Finance Ministry (under Tun Daim Zainnudin) at the material time -1990) had willingly re-allotted nine million Telekom shares to three other companies proposed by Maika because, to the ministry's knowledge, these three companies represented ‘the interests’ of the Indian community.

So what superior knowledge did the ministry have at that time besides the fact that these were unknown empty vessels with RM2 capitals? Further, what had these companies done for the Indians to justify their august status of ‘companies that represent the community’?

MIC President S Samy Vellu was able to escape unscathed because questions that should have been loudly asked by the mainstream media weren’t. There is no doubt the Malaysian press have been a rather incurious lot all these years. Thus, ludicrous explanations are accepted without challenge. This happens all the time.

One would also think the ACA could have easily traced the movements of the shares after the allocations were made and determine where the money had ended up. I suppose they had done so and duly exonerated Samy Vellu of any wrongdoing.

I hope Malaysians in general and Indians in particular will demand that the ACA release its findings so that the aggrieved parties can be rest assured there has been no cover-up.

Will the ACA be up to the challenge?
Can the Maika shareholders sue for the release of the ACA’s findings?

Malaysiakini