The Chronicles of Maika

Ask any Indian who hoped that MIC would be the only ones that could bail them out from their misery back in the day and the first thing they would say is MAIKA HOLDINGS. Now you may ask what the heck is Maika?

I looked up their website, and this is what it is :

Inaugurated on the 15th of August 1984, Maika Holdings Berhad’s principle activity – is investment holding. Maika was originally established to represent the interests of the Malaysian Indian community and has since grown to configure more than 66,000 shareholders.
As a professional and profitable Malaysian corporation, the company has provided attractive returns to shareholders and is targeted to continue real term future growth in line with the expanding economy of Malaysia and that of the region.

Ok..yea, sounds like some heavy mambo-jambo isnt it? Well…not really, it is basically a company that was formed by MIC which toke what evers wealth that was left off them and didnt give anything back. Its widely known as thew failed venture but after reading news from numerous sites, im begining to wonder if its a failed venture or venture that was planned to fail?

In the latest updates, the blog of Yb S Manikavasagam indicated some new developments.

This has surfaced :

And this explanation came up :
Why did Samy Velu withdraw RM 14.40million from his Bank Of Commerce (now CIMB Bank ) Current Account 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?
Wonder what the Anti Coruption Agency has got to say about this one??