Subscribe in a reader | Subscribe by Email Malaysiakini reported a great news from Deputy PM Najib. In a meeting (not the Cabinet Committee in Indian Community’s second meeting?), MIC manages to get an “assurance” that a mechanism to enable purchasing of shares by the Indian community will be created. This is crucial to reach the 3 percent equity by 2020(actually, I hope it will be revised to 10 percent equity. 3 percent is an insult to MIC and the Indian community.)
Samy Vellu said that PNB is requested to handle the scheme (I suppose to avoid another scandal ala MAIKA).
“I requested the government to arrange for Indians interested in buying shares, a partial grant and the rest of the money could be obtained through easy loans from banks,” he said in a statement.
He said Najib, who chairs the cabinet committee on the development of Indians, would discuss the matter with PNB to work out “an amicable and acceptable solution” to MIC’s request.
“The Indian community is still very much dependent on the government for assistance, especially in increasing their equity participation,” added the MIC president.
Samy Vellu also raised the possibility of joint ventures between Indian and bumiputera contractors to do government projects. He said the issues and concerns faced by Indian contractors was submitted to him by the Malaysian Indian Contractors Association recently. Many of them were finding it difficult to participate in government projects.
“I also proposed that Indian contractors be allowed to bid for selected government projects and the deputy prime minister was receptive to the idea. He said it can be worked out,” he said.
The government would work out a formula where more government projects could be given to Indian contractors provided they embark on joint ventures with bumiputera contractors.
He said Najib would resolve the issuing licenses to Indian contractors to carry out projects, especially Class F contracts.
“I am optimistic that all our requests will meet with positive outcome from the government,” he said, adding that follow-up would be done at the next meeting of the cabinet committee
as i wrote in an early posting :
3% equity should have been achieved by now and should gear for another goal by 2020 . 3% is a mental manipulated number where layfolks will get impressed and will worship umno/mic . Try asking professionals .
mic and maika leaders are hopeless in fund management (proven beyond reasonable doubt) , so it make sense why the ball being passed to PNB .
Btw , itu cerita and duit maika dulu apa macam…???
Care to explain wht 3% is a mental manipulation ? You are not an economist nor you have financial background. But I am willing to listen if you have something useful to say…please enlighten us.
well you seem to be manipulated already …. or probably not in the ‘professional’ bucket…. probably you should ask your economic specialist sources in maika/mic … thy wil enlighten the whole nation how they screwed equity and maika…
VJ
Don’t try to evade the question. Everyone who has followed this blog knows what you think of Maika so stop recycling the same old tales.
Let’s talk about future. Justify your comments or just admit your errors. Do not make comments that you can’t backup or have no knowledge of.
I am waiting.
seems like our beloved Killer running away from the past truth …. as ppl say truth hurts… regardless past or present .
It’s time for you to step out of your comfort zone and meet laymen … use your golden mouth to ask ppl how they lost their wealth investing in maika …. how they sold off their assets to invest … how are they brokedown after losing the investment… how they are tamed from questioning the share loses …. for many layfolks mic was like a god ! but the god didnt have mercy….. it’s time for them to realize that the ppl are the god and parties are the servants….
somethimes you dont have to be a IMF economist …. just be a layman with some thinking capability ….
the dungu in action again ….. he never manage to say anything worthful on maika loss and now pretending as a world class economist .
Killer , could you ask your dumb party and the thugs to explain why the lost shares ? …please enlighten us.
The goven again making the same mistake…mic….90% for me n 10% for my loyal members only…rest of indians…tarak..
Chinnapek
May be my English is not very good but where does it says the shares are only for MIC people ?
What happen to the Tamil school land under Samy…if he dies tomorrow the land goes to his family by law. U must be a brain dead Indian to support MIC
right … that’s what happened in the 2nd opening of asw2020 units…
Sure another equity scheme by MIC eh? Yea why not?? Sort the previous on from 1992 first, then we can consider this one.
Or will be the true story be Samy has run out of funds from his Swiss account and decided to make a quick returns? Ahem, 1992 memories start flooding back. LOL
What the point of having 3% equity if majority of the indians still need to work 11 hours a day and bringing home RM1500 per month??
Why we need to take pride and emphasis so much on 3% equity if majority of the indians need take bank loan and for Rm45,000 just to buy a “sangkar burung” flat and spend their entire life there by eating rasam with ikan bilis sambal and sambar with sardine peratal.
just last week i read an expert view in which he says “msians workers are getting third world salary”.
MIC always try to focus on enhancing indian pride and retaining indian identity (equity,tamil schools and temple land) but they refuse to give comprehansive input about indian community core problems to the gov
Their divisional leadership dont have the ability to collect data and compile it systematically