MCA remains coy on gaming firm buyout
Regina LeePublished: Jan 13, 2011 2:46 PM | Updated: Jan 13, 2011 4:16 PM
Despite raging speculation that MCA will be buying out Da Ma Cai, the gaming subsidiary of Tanjong PLC, party vice-president Donald Lim remains coy over the matter.
To my knowledge, there is no information about MCA buying over Da Ma Cai, says Lim.
Despite raging speculation that MCA will be buying out Da Ma Cai, the gaming subsidiary of Tanjong PLC, party vice-president Donald Lim remains coy over the matter.
“So far, to my knowledge, there is no information about MCA buying over Da Ma Cai. Of course, there is some speculation about this issue, but the MCA president has clarified.
“There is no application for it in my office. I’m also not sure if it’s for sale,” said Lim, who is also deputy finance minister.
With the gaming industry under Lim’s portfolio of responsibilities, he also played down the significance of Da Ma Cai, or the Pan Malaysian Pools Sdn Bhd, being taken over by another owner.
“They are a private corporate company, so they are entitled to look for a new owner. Da Ma Cai is licensed by the Finance Ministry, so of course it will be monitored.
“But even if they look for a new owner, we can’t stop them,” he told reporters at a Pan Malaysian Pools Chinese New Year charity function at the Selangor Turf Club this morning.
However, Lim (right) confirmed that he would have to be notified in his capacity as a deputy minister if Pan Malaysian Pools was to be taken over by another party.
It was previously reported in an online news portal that MCA’s investment arm, Huaren Holdings Sdn Bhd, is looking into acquiring a stake in tycoon Ananda Krishnan’s Tanjong PLC gaming business, using funds from its recent disposal of a 42 percent stake in English daily The Star.
Strong opposition
However, it is learnt that there has been strong opposition to the move within MCA, with its Youth chief Wee Ka Siong previously calling the gaming business something that “would not attract MCA”.
MCA president Chua Soi Lek had also previously denied that the party was looking into acquiring the gaming unit.
“This report is purely speculative because we have no interest in bidding for Pan Malaysian Pools Sdn Bhd.
“The MCA is open to any investment opportunity, but it has no intention to be involved in the gaming business,” Chua had said.
Despite this, speculation is strong that any move to purchase Pan Malaysian Pools will not happen any time soon, especially with the Tenang by-election due at the end of this month.
“So far, to my knowledge, there is no information about MCA buying over Da Ma Cai. Of course, there is some speculation about this issue, but the MCA president has clarified.
“There is no application for it in my office. I’m also not sure if it’s for sale,” said Lim, who is also deputy finance minister.
With the gaming industry under Lim’s portfolio of responsibilities, he also played down the significance of Da Ma Cai, or the Pan Malaysian Pools Sdn Bhd, being taken over by another owner.
“They are a private corporate company, so they are entitled to look for a new owner. Da Ma Cai is licensed by the Finance Ministry, so of course it will be monitored.
“But even if they look for a new owner, we can’t stop them,” he told reporters at a Pan Malaysian Pools Chinese New Year charity function at the Selangor Turf Club this morning.However, Lim (right) confirmed that he would have to be notified in his capacity as a deputy minister if Pan Malaysian Pools was to be taken over by another party.
It was previously reported in an online news portal that MCA’s investment arm, Huaren Holdings Sdn Bhd, is looking into acquiring a stake in tycoon Ananda Krishnan’s Tanjong PLC gaming business, using funds from its recent disposal of a 42 percent stake in English daily The Star.
Strong opposition
However, it is learnt that there has been strong opposition to the move within MCA, with its Youth chief Wee Ka Siong previously calling the gaming business something that “would not attract MCA”.
MCA president Chua Soi Lek had also previously denied that the party was looking into acquiring the gaming unit.
“This report is purely speculative because we have no interest in bidding for Pan Malaysian Pools Sdn Bhd.
“The MCA is open to any investment opportunity, but it has no intention to be involved in the gaming business,” Chua had said.
Despite this, speculation is strong that any move to purchase Pan Malaysian Pools will not happen any time soon, especially with the Tenang by-election due at the end of this month.
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