Laman Webantu   KM2A1: 2399 File Size: 1.6 Kb *

Fwd: Calun BN ex perompak Maika
By web aNtu

5/6/2000 2:18 am Mon

Subject: [BUNGARAYA] Teluk Kemang voters, beware!

Teluk Kemang voters, beware!

Letter to Malaysiakini

The Barisan Nasional candidate, S. Sothinathan was one of the people involved in the hijacking of nine million Telekom shares that were supposed to be allocated to the Indian community through Maika Holdings.

On Sept 29, 1990, the Finance Ministry made a special offer of 10 million Telekom shares at RM5 per share to Maika Holdings. On Oct 6, 1990, Arab Malaysian Merchant Bank approved Maika's application for RM50 million financing to take up the entire issue.

However, the Finance Ministry was told that Maika Holdings could only take up 1 million shares and the remaining nine million Telekom shares were to be allocated to three companies. These three companies were said to represent the interests of the Indian community.

S. Sothinathan is the shareholder and director of two of these companies - Advance Personal Computer and SB Management Services, each allocated three million shares (source: Lim Kit Siang, "Samy Vellu and the Maika scandal", DAP 1992).

We already have so many crooked BN MPs whose main agenda is to enrich themselves and their families; we certainly do not need one more. To Samy Vellu, this is the best candidate MIC can offer. To be a wakil rakyat, I don't think so.