Archive for May 2012

Returning the money to the poor former shareholders is charity too

May 29, 2012

The recent sale of Maika holding’s 79.85% stake in Oriental Capital Assurance Bhd to Tune Insurance holdings Sdn Bhd by G Team Resources has raised concern as to how  will be the surplus cash distributed. Tune insurance acquired the 79.85% stake in OCS BHD for RM156.91million. It is reported that oriental capital assurance Bhd (OCS) was sold for RM1.965 per share. OCA’s net tangible assets per share were at RM1.22 as of December 2009. A merchant bank and an insurance company were interested to buy the stake from Maika at RM1.59 per share that translated to 1.3 times price-to-book. But the OCS was finally sold for RM1.965 per share thus giving raise to surplus cash.

G team resources should be more transparent and explain to general public what the surplus is after the sale of OCA shares. MAIKA was set up as a vehicle to alleviate the economic achievements of Indian community. Even though MAIKA holding company was bought over and being liquidated, the Indian community is still angry and reeling over the mismanagement and abuses by MIC. Poor shareholders invested to support the attempt of MIC to set up an investment arm. Therefore as a liquidator G team resources must be transparent and sensitive to the feeling of disappointment of poor Indian shareholders and if there are any surplus that must be redistributed back to past shareholders.

The last AGM was held in June 2007. There was no AGM in 2008, 2009, 2010 and 2011. Not all shareholders sold their shares to G team resources. Some of the MAIKA shareholders refused to sell their shares. They are therefore minority shareholders now. Why no AGM was called.

It is public knowledge that MAIKA holdings affair had become an embarrassment and a political laibility to PM Datuk najib during the Hulu Selangor by election in April 2010. To absorb MIC and Samy Vellu from their wrong doings PM roped in Tan Sri Gnanalingan to buy the MAIKA shares at RM106 million and the 66000 shareholders were paid 80 cents per share. MAIKA had 74% stake in oriental Capital Assurance Bhd and some land left over from the Tumbok estate near Nilai plus a 60 million laon.

Samy Velu and his cohorts who cheated and mismanaged the holding company got away with frauds they committed. The BN government gave the criminals police protection and now the PM asking Indians to trust him. Even though Datuk Najib dissolved MAIKA holdings, Malaysian Indians will never forget the great injustice done to them by protecting the criminal and making him an ambassador for projects. It’s an insult to Malaysian Indians.

Senator S. Ramakrishnan

29/5/2012

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Hunger strike for Effingham Tamil School has created much public interest

May 29, 2012

Last Saturday a group of concerned individuals called reflex organized a hunger strike to pressure MIC to return the land allocated for Effingham Tamil School. This hunger strike has attracted public attention towards land stolen by MIC and created awareness of the plunders of other lands allocated to Tamil Schools but quietly alienated to MIC leaders. Today is the third day of this severe hunger strike without any kind of food and water. Seven persons started hunger strike but 2 gave up after 1 day and 5 persons continued to the third day(28/5/2012). The health of hunger strikers must be monitored closely now onwards. We want these activist to live and the battle another day and not die of hunger strike.

The housing developer who converted the former Effingham estate to housing project gave 6 acres of Tamil school land to Selangor state government. Since Pakatan Rakyat is the state government, REFLEX was able to obtain a copy of the letter dated 30th june 1999 where MIC applied to previous BN government asking for half of lot 28814 which was broken up into 2 lots. One was given to school and the other was issued to Dato Seri Samy Vellu holding as trustee for MIC.

In 2007 one member of the PIBG made a MACC report alleging the 3 acres immoral and unethical land scam by MIC. After the mass media reporting on this land grab, the land legal owner Samy Vellu transferred it to MIC.  Since then the public and PIBG have been campaigning for the return of the 3 acres land to the school. The school can have better sports facilities and extra classes with land returned. There is a government policy that if a primary school has more than 420 students, they are entitled to 5.4 acres of land.

Dato G Palanivel and Dato M saravanan has responded by saying that as far as MIC is concerned the land has been given to them. They will not return it to the school. MIC has also siphoned off pieces of lands given to other Tamil Schools. In 2006 Bukit Raja Tamil School was given 5.4 acres of land. The then Selangor state exco Dato S.Sivalingam allotted 3 acres to School and 2.4 acres to private parties. Through the intervention of Dr Xavier Jayakumar, the current Pakatan Rakyat Exco the 2.4 acres of land was retrieved and given back to school. Similarly in Razak Tamil School Shah Alam out of 4 acres given to Tamil schools, only 2 acres given to school, in 1 acres there is petrol pump on it and another 1 acre no trace of what happened to it. In Selangor we can trace back the land allotted to Tamil schools. But how many of Tamil school land grabbed by MIC in other states, we don’t know?

Since the start of hunger strike 3 days ago MIC president did not issue any statement. Why the silence Dato G. Palani? Do not hide behind UMNO and be indifferent. Indian community is watching you and MIC leaders? PKR president Datin seri wan Azizah has said that should PR go to Putrajaya, they will ensure the return of this piece of land to the school. But BN leaders have not issued any statement.

Senator S. Ramakrishnan

28/5/2012

Education ministry’s concern for Tamil schools?

May 27, 2012

14

Pakatan leaders support for Ambiga

May 24, 2012

16

‘Protest’ outside Ambiga’s house

May 24, 2012

15

The MCA hypocrisy

May 23, 2012

MCA youth secretary general Chai Kim Sen wants PKR and DAP to clarify whether they support PAS call to UMNO to hold ‘muzakarah’.  Kelantan Menteri Besar Dato’ Seri Nik Aziz has set 2 conditions to be met by UMNO, before the ‘muzakarah’ can proceed. First is that UMNO must change its policies so that Islam comes first and the other is that UMNO must not only graciously welcome PAS, but also the whole Pakatan coalition including DAP and PKR. Mr Chai Kim Sem immediately jumped on the first condition. He wants DAP and PKR to clarify whether these 2 parties support Islamic state. MCA believes that this call by PAS to UMNO will lead to the ultimate dream of achieving Islamic state.

MCA thinks they can keep invoking the Islamic state issue all the time to scare away Chinese voters from voting PAS, PKR and DAP. MCA wants to paint the picture that DAP is weak like the MCA in BN. Since the MCA is facing total wipe out in the 13th GE, they are desperately finding fault with DAP in particular. At least PAS has set a condition that if UMNO wants PAS they must also accept PKR and DAP. Has UMNO ever told PAS that if you want UMNO you must accept MCA/MIC/GERAKAN? I wonder why MCA never pondered about this. May be they dare not.

Instead of questioning PKR and DAP, why not MCA question UMNO as to whether they will participate in the ‘muzakarah’. Since MCA and UMNO are the 2 major component parties, they need to explain to each other whenever they decide to talk or negotiate with opponent parties. MCA never questions UMNO when the latter is invited by PAS for unity talks or vice versa. MCA always points the finger at DAP and PKR. Even when UMNO call for unity talks with PAS, it is DAP at fault.

UMNO has called on PAS for unity talk many times repeatedly. Why MCA never question UMNO whether they support Islamic state? If MCA finds PAS such a taboo, why not deter UMNO from talks with PAS. DAP is a matured and responsible party to understand and know whether such a ‘muzakarah’ between PAS and UMNO will ever succeed. If at all the inevitable happens DAP knows what to do. DAP will never ever become another MCA/Gerakan/MIC.

The fact that MCA is so subservient and has become a despatch boy of UMNO, never seem to bother them. MCA is only interested in the political mileage by keep threatening    the non Malay voters by instilling the fear of Hudud law. Hudud law is not in the common policy framework of PR. MCA kept quiet when Mahathir announced that Malaysia is an Islamic state but keep raising the Islamic state with PAS. MCA leaders don’t have the courage and guts to stand up against UMNO.

Voters have woken up after GE 12 in 2008. MCA/GERAKAN/MIC leaders are still in pre 2008 mindset. They believe in their own lies. Malaysians have moved on. These BN component parties cannot accept that their ultimate end is near. They are fighting with their own ghost. Their sins from past deeds have caught up with them. They keep blaming DAP and PKR for their eventual down fall.

Senator S. Ramakrishnan

23/5/2012

MIC and PPP leaders and branches have lost all moral rights to represent Indians

May 22, 2012

Merlimau MIC and PPP branches have made police report asking government to withdraw citizenship and the datukship of Ambiga Sreevasan on 18th May 2012. They have said that they oppose the visit of Datuk Ambiga sreenivasan to Merlimau on 20th may 2012. They have further claimed that under BN government the country is peaceful and that Indians are well taken care off.

The gathering on 20th May 2012 supposed host Datuk Ambiga Sreenivasan in Merlimau, Malacca was cancelled in view of the violence from Perkasa and UMNO youth.  Fortunately, Datuk Ambiga did not turn up for the gathering as probably advised not to attend in view of the evil UMNO plans. Stones and eggs were thrown at those who attended by UMNO youth and Perkasa gangsters. They want to turn Bersih rallies into a racial issue because UMNO cannot accept the fact that an Indian lady has led the largest gathering in the history of Malaysia. UMNO national leaders tacitly support the harassment and hackling of Datuk Ambiga attending any gathering.

Datuk Ambiga led a group of NGOs asking for fair and free national election. At least 250000 people from all walks of life gathered in kuala Lumpur and many more gathered in 80 other cities throughout the world in support of Bersih 3.0. She is one of the greatest citizens of Malaysia. Datuk Ambiga is an inspiration and role model to women. Yet these Merlimau MIC and PPP branches to please UMNO and Perkasa went ahead and made police report to withdraw her citizenship and Datukship.

MIC and PPP leaders are ignorant and subservient to the racist UMNO.  These MIC and PPP idiots and country brutes claim that BN government has taken good care of Indians. MIC and PPP leaders act as runners and dispatch boys of UMNO. With MIC and PPP around Indians don’t need any enemies. MIC and PPP national leaders must openly declare whether they support Datuk Ambiga?  Why is it that MIC and PPP national leaders are quite on the reckless and stupid acts of Perkasa and UMNO? Does it mean that MIC and PPP leaders support the bugger stalls and butt exercise in front of Datuk Ambiga’s house?

Can the Indians ever depend on MIC and PPP to ensure their rights and welfare will be safeguarded from the encroachment of UMNO? Will MIC and PPP uplift Indians and make us equal citizens of this country? MIC and PPP leaders and branches have lost all moral rights to represent Indians. In the coming national election the concerned citizens of this country must ensure that PPP and MIC are got rid with and buried for good. They are stumbling blocks and a hindrance to Indians progress. They are only useful to UMNO and a nuisance to Indians.

Senator S. Ramakrishnan

22/5/2012