MAIKA Telecom Share Scandal

From Wikipedia, the free encyclopedia

This article may require cleanup to meet Wikipedia's quality standards. Please improve this article if you can. (September 2006)

Is the scandal that came to light in April 1992, when it was discovered that 9 million Telekom shares that were originally offered to Maika Holdings had been rechanneled to three unknown companies, SB Management Services Sdn. Bhd., Advanced Personal Computers Sdn. Bhd., and Clearway Sdn. Bhd. The first two companies RM2 shell companies, whereas the son and brother in law of Datuk Seri S. Samy Vellu (President of the Malaysian Indian Congress) were the directors of the last. Though Samy Vellu was cleared by the Malaysian Anti Corruption Agency, after a drawn out investigation, the scandal continues to haunt him and the party. Maika Holdings Berhad is now headed by Samy Vellu's son S. Vell Paari.