How to trust MIC if it can't even resolve Maika?
Marion TharsisPublished: Aug 3, 2009 9:23 AM | Updated: Aug 3, 2009 10:12 AM
l refer to Malaysiakini report, High noon ruckus at MIC HQ
MIC has been dragging its feet on the Maika issue and even after its resounding defeat in the recent elections, it has made little effort to resolve this long outstanding matter involving poor Indians' money that could be put to good use in these times of economic slowdown.
l refer to Malaysiakini report, High noon ruckus at MIC HQ
MIC has been dragging its feet on the Maika issue and even after its resounding defeat in the recent elections, it has made little effort to resolve this long outstanding matter involving poor Indians' money that could be put to good use in these times of economic slowdown.
The blame rests squarely on the MIC leader's shoulders for letting Maika decay over the years without proper and competent supervision, leading to its present rotten state
He has never shown any remorse but keeps pointing fingers at others for his dismal failures in managing a business venture entrusted to him.
In 1982 when this so called 'investment arm' of the Indians was established by MIC, the value of RM1,000 was a very big amount when most wage earners were earning less than that amount.
Earning RM500-750 for a diploma holder was already considered an handsome sum.
An investment of RM2,500 minimum per shareholder if valued today, can amount to 3 to 4 times this value. Is MIC prepard to compensate the shareholders based on today's value?
It is seen that Maika lacked the vision, proper direction and sound expertise when venturing into businesses. This was compounded incompetent management.
It is MIC's sole responsibility to resolve its own internal matters through proper dialogue and not through unruly behaviour like in the past, especially when questioned during the Maika AGMs.
When this internal matter is amicably settled, then MIC should sell Maika for what it is worth.
If there is a shortfall to compensate the shareholders, then MIC should use its own resources to aptly and justly return the shareholders money.
MIC is seen as attempting to gain political mileage and redeem its image by being a champion of Kampung Buah Pala, even boasting of having deposited millions to buy over the land.
This money I feel could be put to better use to compensate the poor shareholders of Maika
immediately as they need the money desperately for their sustenance.
If Maika had the foresight, it could have at least invested part of the money in real estate that could have appreciated into a tidy sum today, instead of investing in 'injured' ventures.
To MIC and Samy Vellu, accept your past mistakes for 'deceiving' the poor Indians and do not let this issue linger on and on which benefits no one.
If MIC cannot resolve its own internal matters like Maika, then how can the Indians trust it any longer to care for their future well being?
Stop playing the blame game to distract or avoid the core issues.
MIC has been dragging its feet on the Maika issue and even after its resounding defeat in the recent elections, it has made little effort to resolve this long outstanding matter involving poor Indians' money that could be put to good use in these times of economic slowdown.
The blame rests squarely on the MIC leader's shoulders for letting Maika decay over the years without proper and competent supervision, leading to its present rotten state
He has never shown any remorse but keeps pointing fingers at others for his dismal failures in managing a business venture entrusted to him.
In 1982 when this so called 'investment arm' of the Indians was established by MIC, the value of RM1,000 was a very big amount when most wage earners were earning less than that amount.
Earning RM500-750 for a diploma holder was already considered an handsome sum.
An investment of RM2,500 minimum per shareholder if valued today, can amount to 3 to 4 times this value. Is MIC prepard to compensate the shareholders based on today's value?
It is seen that Maika lacked the vision, proper direction and sound expertise when venturing into businesses. This was compounded incompetent management.
It is MIC's sole responsibility to resolve its own internal matters through proper dialogue and not through unruly behaviour like in the past, especially when questioned during the Maika AGMs.
When this internal matter is amicably settled, then MIC should sell Maika for what it is worth.
If there is a shortfall to compensate the shareholders, then MIC should use its own resources to aptly and justly return the shareholders money.
MIC is seen as attempting to gain political mileage and redeem its image by being a champion of Kampung Buah Pala, even boasting of having deposited millions to buy over the land.
This money I feel could be put to better use to compensate the poor shareholders of Maika
immediately as they need the money desperately for their sustenance.
If Maika had the foresight, it could have at least invested part of the money in real estate that could have appreciated into a tidy sum today, instead of investing in 'injured' ventures.
To MIC and Samy Vellu, accept your past mistakes for 'deceiving' the poor Indians and do not let this issue linger on and on which benefits no one.
If MIC cannot resolve its own internal matters like Maika, then how can the Indians trust it any longer to care for their future well being?
Stop playing the blame game to distract or avoid the core issues.
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