Tuesday, 17 June 2008

SLIPPERY SAMY ...



1. This is what the NST says, Samy said yesterday.

Samy Vellu: Dr M failed the Indian community
KUALA LUMPUR: Tun Dr Mahathir Mohamad did very little for the Indian community when he was prime minister, MIC president Datuk Seri S. Samy Vellu said yesterday.

Samy Vellu said the Indians had to struggle on their own for more than 140 years and achieved success only through sheer hard work .
“Despite the MIC appealing again and again for help, he refused to budge,” Samy Vellu said in response to Dr Mahathir’s remarks during a talk in Teluk Intan on Saturday.
The former prime minister had said the Malays were willing to admit other races into the country and endowed them with rights.

2. This is what Samy said (on 20th of May, 2007) after a SIMILAR statement from him which appeared in two Tamil dailies ( Makal Osai and Nanban ) and on 16th of May, 2007.


Bernama.comMalaysian National News Agency
MIC Members Set Fire To Dailies Over Report
May 20, 2006 18:55 PM

KLUANG, May 20 (Bernama) -- MIC members held a protest here and in Kulai against two Tamil dailies that misquoted party president Datuk Seri S. Samy Vellu's remarks at the Johor MIC Convention in Skudai on Tuesday.
About 50 members from the party's division in Kluang carried placards voicing their displeasure over the reports in Nanban and Makal Osai at Jalan Station here at about 11.30 am.
They later set fire to some copies of the two newspapers.Another protest was carried out by members of the Kulai division at the Kulai bas terminal at about 12.30 pm.
The protest was over the reports by both newspapers that Samy Vellu had stated the former Prime Minister Tun Dr Mahathir Mohamad did nothing to improve the standard of living of the Indian community.
He was answering questions from the floor on why the Indian community failed to achieve the three percent equity under the Eight Malaysia Plan.
Samy Vellu who deplored the reports Friday retorted that it is the underhand tactics of his adversaries who were out to undermine him.
The MIC president said he had called Dr Mahathir who was in Turkey to clarify that he had been misquoted by the two newspapers.

AND,


>> THIS is what MP for Ipoh Barat M.Kulasegaran and THOUSANDS OF OTHER MALAYSIANS OF INDIAN ORIGIN have been saying about Samy Vellu and how HE (and not Tun Dr.Mahathir Mohamad) has allegedly ROBBED them.

THE SCANDAL involving the Telekoms Malaysia shares to Maika Holdings in 1990 is still an urgent matter the Indian community wants the government to investigateurgently and punish the offenders who hijacked the shares.

The Indian community has lost nearly RM300 million in accumulated value as a result of the hijacking of the shares.

The investigation against MIC president in 1992 is incomplete and unacceptable and the case was reopening but until today no announcement has been maderegarding the final outcome of the police and ACA probe.

How long have the Indian community, who suffered huge loses as a result of the hijacking of the shares, have to wait before they can get justice.

The government of Prime Minister Datuk Seri Abdullah Badawi has promised transparency, full investigation and eradication of corruption.

Why the long delay on the probe against Samy Vellu ?

I will raise this mater in parliament and demand full answers to the earlier investigation and a new and proper investigation are conducted.

A police report was filed at the Dangi Wangi station on May 25 by Klang resident Thiagarasan A/L Palaniaya demanding that the police conduct an independentinvestigation on the losses, misuse of power, mismanagement and criminal breach of trust in connection with the Telekom shares to MIC in 1990.

The police report states in September 1990 the Finance Ministry made a special offer of 10 million Telekom shares to Maika Holdings.

At that time the shares weretraded at price levels in excess of RM10 per share. In 1992, the Indian community found out that the MIC sold the shares cheap earning only one million shares.

On May 16, 1992 Tan Sri G. K. Rama Iyer, Managing Director of Maika Holdings revealed that Samy Vellu was informed at 6.10 am on October 5th 1990, thatMaika had been offered 10 million TM shares and of the probability of obtaining full loan financing and that Maika intended to take up the entire allocation of 10 million shares.

Rama Iyer further disclosed that Samy Vellu replied that there must have been a mistake.
The offer to Maika should be for one million and not 10 million.

According to Samy Vellu, the remaining 9million shares were meant to be allocated to “otherMIC bodies”.

Thus after Samy Vellu had contacted the Finance Ministry (read Anwar Ibrahim), the letter of offer was retracted and Maika’s allocation was reduced to 1 million shares.

Samy Vellu’s response to this disclosure was that Maika Holdings did not have the capacity (funds) to purchase the TM shares but this was denied by RamaIyer (NST, Dec 10 2003).

Indeed, in 1992, Rama Iyer had disclosed that a letter from Arab-Malaysian Merchant Bankers Bhd offering RM50 million to financethe purchase of the 10 million shares was received on October 6th 1990.

In a statement before Parliament after the scandal broke, then Finance Minister Datuk Seri Anwar Ibrahim disclosed that since Maika had stated that it couldtake up only one million shares, the other nine million shares were allocated to three companies proposed by Maika because to his “ministry’s knowledge, the three companies represented the interests of the Indian community” (The Star, April 30, 1992).

According to one Pasamanikam, a Maika director at that time, Maika did not reject the Finance Ministry’s offer and did not propose that the nine million sharesbe allocated to other companies.

He further revealed that Maika had indeed raised a RM50 million loan to facilitate the acquisition of the entire 10 million shares even before the Finance Ministry had withdrawn its offer.

The 3 companies that received the 9 million shares were named by Thiagarasan in the police report as:

1) Clearways Sdn Bhd/RM2 share/ owned by Robert Tan, Baharudin (Samy Vellu’s driver).

2) SB Management Services Sdn Bhd/RM3/owned by Balasubramaniam, Sothinathan.

3) Advance Personal Computers Sdn Bhd/RM250,000/owned by Balasubramaniam, Sothinathan, Selvendra/

Many questions remain unanswered. Why 9 million TM shares given to Maika were diverted to 3 shell companies?

How did the Ministry of Finance satisfy itself that the companies nominated for the 9 million shares represented the interests of the Indian community?

How did the 3 companies finance the purchase of 9 million shares at RM5 a share?

What were the ultimate profits made by the 3 companies? Who took the profits?

How were the profits made by the 3 companies distributed?

Did the ACA test the claim that the 3 companies represented the interests of the Indian community?

So many questions, few answers!” - from M.Kulasegaran’s www.kula.blogsome.com .

WONDER WHO IS THE ACTUAL CULPRIT WHO SHORTCHANGED THE MALAYSIANS OF INDIAN ORIGIN ?



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6 comments:

Anonymous said...

Dr.Mahathir single-handedly made sure that 10 million Telekom shares were allocated to Indians in the country through MIC.
If not mistaken the allocation of TM shares for 'stakeholders' were deliberated at length during several high profile meetings between PM (Dr.Mahathir), Finance Minister (Anwar), Khazanah and BN component leaders.
As far as Dr.Mahathir knew, 10 million shares were reserved for the Indians and funding was arranged by the Government.
But what Dr.Mahathir didn't know until years later was that Mr.Sam made a side-deal with Anwar to siphon 90% of the shares.
Anwar Ibrahim should be able to shed more light into this back-door trading and the kickbacks, if any.


AxedCabinetGuy.

Anonymous said...

BAPAK DIA PUNYA PASAI.... ANAK MAICA DALAM LUMPUR! Kasihan anak Samy yg kena jawab tentang saham yang maica tak pernah dapat.
Aku tengok siSothinathan pun ada bahagian dia jugak!
Inilah nasib kaum yang taksub kepada pemimpin kayu.
Ni baru Sami, kita belum audit PM sekarang dengan syarikat2 anakbini beliau.
Dalam kerajaan sekaranag, ratio dia 10:1 - kalau ada seorang pemimpin yang jujur, sembilan yang lain geng Ali Baba.

Hancus Tanahairku!

ultramalaysian.

jebatmustdie said...

I did similar analysis in my blog. I'd highly appreciate if you could read them. Thanks!

http://jebatmustdie.wordpress.com/2008/06/17/when-all-else-fail-samy-vellu-whacks-his-former-boss-while-other-umno-leaders-lost-their-balls/

Anonymous said...

ACA harus siasat Samy/Sothinathan/K.S.Nijar & Anwar Ibrahim.
ACA!!!! Better act now or risk flushing your reputation/credibility/ability/people's trust/ down the filthy Klang river.
Awat hang takut kat dia ... hentam la penyangak tu sumbat dlm penjara kerana kesalahan merompak selama hampir 30tahun.

Sami adalah salah seoarng xmenteri yg paling kaya dlm Malaysia. Harta-nya di-kumpul di India, Australia & N.Zealand.

Selain perniagaan2 antarabangsa, Sami ada huge land-bank di-selatan India - ber-ribu ekar, dan kepentingan dalam industri hotel & pelancungan di situ.

Mana dia dapat duit banyak tu ?

ACA!!! SIASAT LA KALAU BERANI.


Dr.Suria
Klang.

Anonymous said...

dear DR.SURIA,

takpa lah Sami kaya..tapi dia ada penyakit Koro.

p/s if yu want to know how bad 'Koro" is, go to
www.kadirjasin.blogspot.com

Pity the failed-MIC leader isk isk isk!

Bt.Caves OOMAPUDI

Anonymous said...

There's truth in the saying that says 'if you see a snake and this fella, take a stick and knock hard on the fella's head first before you harm the snake as this fella is more venomous. So much auta like his boss. Got no respect to someone who once gave u a place for if he rejected ur boss's request ud be nowhere then.

Inilah yang dikatakan Tambi lupakan muruku.

Zaib