Govt mulls launching probe into Maika scandal, says Kula


  • Nation
  • Monday, 25 Jun 2018

PETALING JAYA: The Pakatan Harapan Government is considering whether to launch fresh investigations into the Maika Holdings scandal, which saw more than RM100mil cheated from the Malaysian Indian community, said M. Kulasegaran.

The Human Resources Minister said Tun Dr Mahathir Mohamad had admitted that there has been an oversight over that matter during his previous tenure as prime minister.

"He has said that he left it entirely to (former MIC president) Tun S. Samy Vellu, and he didn't want to dwell on that matter.

"Now he realises that there was oversight at the time. We will see what we can do to dig up these (past) wrongs," he was quoted as saying by MalaysiaKini during an interview.

Kulasegaran also denied that the Prime Minister was involved in the Maika Holdings scandal.

"Yes, he gave some of the funding, but he didn't ask (MIC) to cheat ... He gave the money meant for the Indian community and that was (allegedly) siphoned out," he was quoted as saying.

Maika Holdings, was an investment company formed by MIC in 1982, to enable Malaysian Indians to participate in the country’s economic growth.

It was reported that RM106mil was raised from about 66,000 shareholders, a majority of them consisted of Indian estate workers who had pawned off their valuables and life savings to invest.

However, the investment failed to provide positive returns.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Nation

Mother dies, two children hurt in East Coast Highway accident
Programme to mark two years of Madani Govt kicks off today
Man escapes with minor injuries after tree falls on car in Penang
Cop honoured for swift murder arrest
Mohd Azmawi sworn in as new Nenggiri rep
Sabah to monitor workplace pressure, bullying in hospitals
Not cool, says hawker after woman steals from her icebox
New shift plan for nurses
PM: No issues with fast-tracking Political Financing Bill
All Johor employees to get two-hour break on Fridays

Others Also Read