MCA Leaders Against Matang Holdings Takeover
MCA deputy president Datuk Seri Liow Tiong Lai.KUALA LUMPUR, May 28 (Bernama) -- MCA leaders today expressed their objection to the proposed takeover of Matang Holdings Bhd by Scope Industries Bhd.
MCA deputy president Datuk Seri Liow Tiong Lai said he strongly insisted that the Matang Holdings extraordinary general meeting set for May 31 be cancelled.
"Based on MCA constitution and also a statement by the president on May 21, the disposal of party assets can only be effected with the approval of at least two-thirds of the party's central committee.
"However, until today, the treasurer-general of MCA has neither tabled the proposal to the central committee nor obtained its approval," he said in a statement here Tuesday.
Matang's largest shareholder is MCA-owned Huaren Holdings with a controlling stake of 10.75 per cent.
Liow said the board of directors had also failed to explain the proposed takeover deal to the minority shareholders of Matang Holdings.
"We have, for instance, discovered a significant discrepancy between the two valuation reports on the property value of Matang Holdings.
"This, in itself, has raised the alarm and created concerns among the shareholders that it will be an inequitable deal that will leave them out in the cold," he said.
Matang Holdings is a debt-free company and to date has RM25 million in liquid assets.
Liow said Huaren should look out for the best interests of the minority shareholders.
"Failing this, MCA will be letting down its members, especially those who have held on to Matang Holdings shares for more than 30 years.
"This could even be another blow to the party, which has already undergone a punishing experience in the recent general election," he said.
LIOW SPEAKS OUT. MCA is in dire need of a savior after the party's worst results in a general election on May 5. The President, Chua Soi Lek, stubbornly holds on to power despite calls by party elders for him to step down now, not later, so that the healing can begin. Today, Liow Tiong Lai stood up to "strongly insist" that an EGM for Matang Holdings set for May 31 be cancelled. This, party insiders say, go against the wishes and whims of the party President.
When a time of need arises, a man to do the job will appear. The social media is buzzing in anticipation of a major battle.
This goes to Show that MCA party members places money above all else.ReplyDelete
Isn't That Najib's Mantra as Well?
No wonder Najib and Chua are Bosom Buddies!
MCA...please take your monies and just disappear...you fellas sold every Chinese joker to the dogs just so you could make a buck from UMNO.....how can you chaps even sleep...no dignity, honour and zero conscienceReplyDelete
welcome to la la land:ReplyDelete
here we will find a party that could survive on free O2; the other survives on donations; there is only one who did survive on real business; and the worse among all is the one which is dependant on the foreign endowment.
Pardon me, those who may differ from my viewpoint, but many modern Malaysian Chinese have largely lost touch with their wonderful philosophical and religious heritage ... most of us are not often returning to the Origin of the "ten thousand created things", and so deprive ourselves of true happiness and innate wisdom. As a result of forgetting the sacred, man craves for worldly things but disputes with those whose greed will certainly match theirs,..... even as grandpa boils tea over a little wood-fire, while white storks glide in formation across transparent blue skies, and the wind rushes through green tree-tops whispering timeless tales to the contented sipping tea enjoying ... joyousness ... All from the One back to the One, moved by the One within the One ... what? Divine Providence is free . . . of charge?!ReplyDelete
The Tao Te Ching:
Flying from the mundane into Infinite Reaches:
There is no such party called BN it is Umno in disguise and committing all the atrocities up till now in the name of BN !ReplyDelete
It is for that reason alone that the shenanigan Mahathir and all the rapscallions from Umno are calling for and offering crumbs to the coalition partners not to leave BN. These rapscallions are aware that without the coalition partners they can't continue to remain in Putrajaya thus they cannot continue to enrich themselves.
If they are truly representing the Malays in the country they should get more than the majority of the votes. As the Malays are the majority of the population. For this reason alone they are begging for the coalition partners to remain in BN. Umno is not even getting the support from the Malays they are supposed to represent and you know why ? These urban are all waking up to the facts that Umno is not truly their representatives and Umno is implementing policies for their own benefits in the name of the Malays ! In the next election the rural Malays, hopefully, would have woken up by then and even with 'First past the post' system in
place the rapscallions cannot remain in Putrajaya !
Are referring to your PapaTokong Lim Kit Sial whom can't be UBAH....herding DAPigs from 1969 till death maybe instigating racial hatred 24/7...Delete
Kita melayu rural hari-hari bangun tau. Lu ingat kita apa ek?Delete
Hoi f*** red bean.. What u mean sell to the dog.. Did u mean malay..so it must be shame working with malays... you people are utter racist and ungrateful being malaysian citizen..ReplyDelete
MCA has real trouble even when it appoints new leaders. It has lost the trust of its community. But how can it get it back? It has two choices - firstly it really delivers for the Chinese community - recognition of UEC, large investments in education and enhances rights and removes race related restrictions (real or perceived). It cannot just protect rights as this was not a winning strategy in GE13, so why will it be better in GE14? This needs to be combined with excellent service to constituents, whether asked for or not. Its second choice is a stint in opposition where it just criticizes what the government does. Choice No.1 is very hard, choice No.2 is next to impossible. Under either option, the dead wood and divergent views at both national and local leadership levels must be cut back severely as soon as possible.ReplyDelete
MCA - Money Come Again! It's all about money, power n status. The era and spirit of MCA in the early 60s are being buried with the good leaders of the past. MCA has no leaders of integrity today and should be disbanded for the continued survival of the Malaysian Chinese. There is no MCA without UMNO but UMNO can still survive without MCA, if it can be transformed into "UNITED MALAYSIAN NATIONAL ORGANIZATION" in the context of 1 Malaysia!ReplyDelete
Are the chauvinist Malays ready? Malays should not be selfish, otherwise they will lose their political power to those who will revolve against them. Malays should not live in isolation. Power sharing is the way forward!
DAP - no money.no power. popular votes only.ReplyDelete
embarrassment to chinese community. it's time now for DAP to become dogs to anuwar and hadi.
DAP - woof woof!!
BN is being Repackaged using a different Colour Wrapping Paper. Leave it to Tengku Adnan and wife to handle the job.ReplyDelete
Somehow UMNO Members may not take too kindly to his efforts. They think that he Plans to send them up sh#t Creek.
MCA has never been the Chinese community first choice to begin with and same thing apply to Pas i.e. it has never been the Muslim community first choice.ReplyDelete
The political battle in the GE 13 is not between Pas and MCA but it is a battle between the Muslim community favorite rep (Umno) and the Chinese community favorite rep (Dap).
wahhh these red beans kacang merah hantus always become first.. mentang2 lah dah memang kerja utama mereka hahahaha siot jek la korang kacang merahReplyDelete
"BLOOD IS ALWAYS THICKER THAN WATER"
....Petronas was founded in 1974 after May 13th.... hehehe
.. UMNO TETAP TEGUH..
Dulu, sekarang dan selama-lamanya