Why Samy withdraw RM14.40million?

The story maybe Old but the man behind it still controlling Malaysian Indians live hood by rearing touts and gangsters. Maika, which was launched with much hype and hope as an economic vehicle and a miracle to lift the poor Indian from the shackles of poverty is the best classical example of this untouchable man’s achievement.

The urge in very Indian to uplift their community Late Tan Sri V Manickavasagam mooted the idea of forming Maika Holdings which taken up by SamyVelu. Trusting SamyVelu poor Indians mortgaged all their life time savings to subscribe Maika Shares. The company that by 1984 raised RM106 million from almost 66,400 shareholders with Dato’ Seri S Samy Vellu ,MIC president as largest individual shareholder with almost 2.8 million shares.

The amount invested in Maika was even larger than that obtained by the MCA’s Multi-Purpose Holdings when the company commenced business. Multi-Purpose Holdings Berhad is listed in Bursa Malaysia with turnover of RM 3.2 billion recorded in November 2007. Any news from Maika on their 2007 performance?

What happen to Maika ? Why Samy appoint his Son as the Chairman? Why thugs present at every Maika’s AGM ? Why Samy answering questions not the Board of Directors or Management? And much more ?

Let’s start to find some possible answers by asking :

Why did Samy Velu Current Account withdraw RM 14.40million from his Bank Of Commerce (now CIMB Bank ) on 04/04/1992 and how did he manage to cover up overdrawn by deposit over RM15.00 million within 15days time .

Does a Minister earn approximately RM 1.00 million per day?

Here is the said Bank Statement :

Leave a side economical value, Imagine what the RM14.4 million built worth for the community, at least 4 brand new tamil primary schools with full teaching aids that able to educate over 7000 pupils during last 15 years.

In terms of economical value:

-to be continue

-mpkapar