I made an open challenge to Wee Ka Siong in parliament last Wednesday that if he could prove that EPF incurred a single cent loss in MAHB dealing I will retire from politics. A week has passed but Wee Ka Siong failed to furnish a shred of evidence that EPF had actually incurred any financial losses in MAHB transactions.
Last Thursday, during his debate on the Motion of Thanks for the Royal Address Wee Ka Siong again repeated his blatant lie that EPF lost RM500 Million in the trading of MAHB shares. He even went a step further saying that this RM500 Million losses will be recorded in the income statement of EPF which is absurd, ridiculous and preposterous.
I have explained in parliament last Wednesday that EPF did not short sell MAHB shares. EPF bought MAHB shares at RM2.5 and sold them at RM5 and made a profit of RM2.50 per share. A year later, in a separate transaction EPF bought MAHB shares at the range of RM10 – RM10.50 and given the current price of MAHB at RM10.88, not only EPF did not incur a single cent of losses, EPF has already made a paper gain or unrealised gain of RM0.38 – RM0.88 per share.
I am not surprised that Wee Ka Siong made such an absurd statement and repeat his manufactured lie of the RM500 Million EPF scandal in parliament because this correspond to his level of IQ and intelligence. What I am surprise is that not a single MCA leader dared to correct and advise “Ëmperor Wee” that he had made a glaring mistake. Wee Ka Siong basically drags down the whole MCA to defend him and this shows that MCA has been reduced to a yes man party.
MCA Beliawanis lodged a police report against EPF to investigate the purported RM500 Million losses last week, MCA Deputy President Mah Hang Soon and several MCA youth leaders also made postings and videos on social media to defend Wee Ka Siong’s false claim that EPF incurred RM500 Million losses.
EPF in a statement yesterday has denied allegations of misconduct or regulatory breaches in the buying and selling of MAHB shares and the purported losses incurred from the transaction.
It is time to call Wee Ka Siong’s bluff. The RM500 Million EPF scandal manufactured by Wee Ka Siong is actually the emperor’s new clothes that doesn’t exist. EPF did not incur a single cent of loss from MAHB transaction.
Wee Ka Siong should stop defending the indefensible. I call on Wee Ka Siong to do the honourable thing – to admit his mistake and tender a public apology to all Malaysians particularly the 16 Million EPF contributors for telling a blatant lie and for manufacturing the RM500 Million EPF scandal that doesn’t exist.