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Aik Hua Holdings Bhd
minority shareholders to call on CCM to act on MCA-sponsored Aik Hua
Holdings Bhd directors and all those MCA leaders who were responsible
for the RM20 million debacle
Media Statement
by
Ronnie Liu
(Kuala Lumpur,
Wednesday):
As no single MCA leaders who were
responsible for the RM20 million Aik Hua Holdings Bhd (AHHB) debacle have
come forward to explain their case eight months after the plight of
thousands of AHHB minority shareholders was brought to their attention
through various news reports (December 2003), memorandum (January 2004) and
police report (March 2004), the minority shareholders have no choice but the
seek the intervention of Commission of Companies Malaysia (CCM).
It’s sad to note that the shareholders
have yet to receive any outcome of the investigation by the police. So much
about talk on police reforms and rhetoric such as “only listen to the truth”
and “work with me”.
All AHHB shareholders are requested to
turn up at the CCM office at the Putra Place, 100 Jalan Putra, Kuala
Lumpur (near The Mall opposite PWTC) at 10am in the morning on Saturday 28
August 2004. All shareholders are also requested to bring along their
original share certificates for identification. They will be assisted by DAP
leaders and lawyers from the DAP Selangor State Committee.
Under the Companies Act, the CCM has
the right to investigate the company and bring those responsible to book.
It appears to the shareholders and
Malaysian public that the MCA has shirked its political responsibility and
obligation to help the victimised minority shareholders of Aik Hua Holdings,
an investment company initiated and controlled by MCA Selangor in the early
eighties, some twenty years ago.
Thousands of Aik Hua Holdings
shareholders were in the dark for years as the Selangor MCA-sponsored
company failed to send its annual report or inform the shareholders of its
status. The last annual report available to them was issued in 1995.
Shareholders of other MCA-sponsored
holding companies (such as Peak Hua and Peng Hua) faced similar predicament,
as they too have never received any news or updates from their respective
investment companies. Both current and former MCA leaders shy away from
answering questions from the minority shareholders (who were mainly MCA
members and supporters).
The Selangor DAP office in Petaling
Jaya has received more than 300 complaints involving some 400 AHHB minority
shareholders over the past eight months. DAP offices in other states also
received many complaints from the shareholders of these MCA-sponsored
investment companies.
The shareholders have given more than
enough time for both current and former MCA leaders to throw some light on
the status of these investment companies but to no avail. The only MCA
leader who gave an answer on the matter was Donald Lim but his reply was far
from satisfactory. Lim Claimed that he, as a new MCA leader, knows nothing
about the matter and he wanted Datuk Lee Kim Sai and other former MCA
leaders to answer questions raised by the DAP and the shareholders.
MCA President Datuk Seri Ong Ka Ting
and other MCA top leaders have the obligation and political responsibility
to assist the shareholders since AHHB was set up with their direct
involvement and blessing.
Under the laws, it's a serious offence
if the directors of these investment companies fail to present their annual
reports with financial statements and conduct annual meetings with the
shareholders.
(4/8/2004)
* Ronnie
Liu Tian Khiew, DAP Education Bureau Chairman and national publicity
secretary
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