a Malaysia for Malaysians

The Act of MAIKA HOLDINGS BHD CEO , Velu Paari proposing to liquidate indicates his inability to turnover the company.  Malaysiakini reported Velu Paari claims MAIKA has GROSS ASSETS of RM150million without disclosing the liabilities behind it.  As at Dec 2002, Maika Holdings a debt of RM94.29 million.

After 26 years of MAIKA’s establishment , Samy Velu whom holding the fort via his proxies finally admitting his defeat.  Samy failed to uplift Indians communities while he was Federal Minister , now  realize sudden changes in Malaysian political scenarios will not be to his benefit any longer.

Velu Paari whom at Maika’s helm for 9 years failed to fulfill his father’s personal assurance that investors would receive RM130 for every RM100 invested .  Samy further assured shareholders will get back their money in three months. Now, after months gone Samy looking loopholes to escape out.

Maika Holding Bhd once own Malaysia’s outstanding Commodity brokerage House which nowhere now. It’s has excellent Landbank and properties that mostly transferred within Samy’s cronies.  Anthonian Bookstore gone to became a Hotel in Brickfields which subsequently disposed with million yet to collect from purchaser. Maika Music emerged and gone with millions of ringgit losses.  Maika Rubber was torn into pieces because of mismanagement.  I was made to understand that person behind Maika Rubber runs very successful Rubber Glove manufacturing within Kapar Parliament Constituency.  When Malaysia still can host world largest Rubber Glove manufacturing, what made Maika Rubber to fail.

Despite holding A Class Construction License one of Maika subsidiary reported loss RM17million in 2003. Why and now this could happen when Maika has good relationship with Government, Hundred over millions investment, countries top banker and economist was part of them.

Maika failed due to selfishness by it’s founding member, their responsibilities and bullheaded attitude whom dare to question us earmarked Malaysian Indian as failed community.

Enough of trusting Samy and Cronies for 26 years . It’s time the 66,000 shareholders to make changes. If Tony Fernandez can turnaround ailing Air Asia with one aircraft into billion dollar company that even world best airlines envy, why cann’t MAIKA.

I’m confident despite Global Economic downturn, we can turnover Maika into one of Malaysia’s Best Company if  vision and desire and correct people planted there.

Give it to us, we will turnaround MAIKA a profitable organization in shortest time possible.

Where there’s a will there’s a way.