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| Cometh the Hour, Cometh the Man Posted: 28 May 2013 05:17 AM PDT 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. -- BERNAMA 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.  |
| Blaming Najib and other silly notions (like turning BN into a single party) Posted: 27 May 2013 08:49 PM PDT  No honeymoon for the man? A honeymoon period is a period of popularity enjoyed by a new government, or the occupant of a new post. [see here] While some of his aides have gone on holiday as soon as the general election ended, happy with themselves and what they believed they have done to help Najib Razak get his own mandate as Prime Minister, the man himself doesn't seem to be allowed the customary goodwill of a honeymoon. Instead, it's bang from the start and Najib has to pick up the PRU13 pieces all by himself. Anwar Ibrahim's non-stop harassment and threats, the result of self-pity and great frustration of not realizing a lifelong ambition, we can understand. The barbs poked at Najib Razak by his own party members and elders, make one wonder. Criticisms are great if and when constructive but these have been few and far apart. On hindsight, everyone (including yours truly) gains a better perspective. Yes, Najib should have done this and he should not have done that. But I say, if we aren't going to ask him to step down already, then let us give the new Prime Minister some room to plan his next course of action. We'll have all the time to give our two sen's worth later. And this thing about turning Barisan Nasional into a 1-4-All, All-4-1 party, whose silly idea was it? Nazri Aziz came up with something silly earlier [Nazri: BN needs to Ubah! - Malay Mail, 10 May 2013], proposing that BN is renamed Angkatan 1Malaysia in order to "resonate with the younger voters". But at least Nazri did not suggest that BN be turned into ONE party. My take is simple (perhaps simplistic for the sophisticated brains who think for the politicians). If Barisan Nasional as a coalition was such a bad or failed concept, Anwar, Hadi and Kit Siang would not have joined hands, knowing how revolting that act is, to form the alternative coalition called Pakatan Rakyat. In other words, there they were clearly and shameless trying to copy you and here you are regressing and going the other way, tripping all over yourselves while they laugh at you! There's a reason why Umno is the longest-surviving political party in the world and there's a reason why BN has ruled for many years and why this country is peaceful and prosperous despite the Chinese trying to teach the BN a lesson and failing miserably in the process. As I see, what BN needs is to ensure that its components regain strength. If there's any merging to do, MCA and Gerakan and the Chinese-based parties in Sabah and Sarawak may want to explore that. MIC, Hindraf, PMIP and perhaps PPP may want to start merger talks. PBB, like Umno, is solid; the former needs to look at its succession process and the latter must open up and allow the professionals, the scholars, the footloose and fancy free, the young and the urban to lead. It's the substance BN needs to worry about, not the form. |
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