by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Penang on Saturday, April 16,1994:
Samy Vellu should give a full public explanation of the RM38 million from the proceeds of the sale of the nine million Telekom shares meant for MAIKA Holdings which had been banked into his personal bank account
MIC President and Minister for Energy, Telecommunications and Posts, Datuk Seri S.Samy Vellu, said in Malacca yesterday that he was not afraid of my fresh allegations against him in connection with the MAIKA Telekom shares hijacking scandal which I made in Parliament on Wednesday.
Samy Vellu said that he had valid explanations for all transactions in his bank account, including the alleged RM38 million banked into his personal account.
In my speech in Parliament on Wednesday, I did not refer to the RM38 million banked into his personal account, but the RM4.09 million from the sale of 360,000 Telekom shares by AdvancePersonal Computers Sdn. Bhd . in March/April 11992 which were banked into his personal account, No. 1402-0000168-00-2, at the Jalan Masjid India Branch of Bank of Commerce.
In Parliament, I produced document s involving Bank of Commerce Jalan Masjid India Branch cheques, fixed deposit receipts as well as Samy Vellu’s bank statement account for April 1992 as proof that the RM4.09 million proceeds from the sale of 360,000 Telekom shares by Advance Personal Computers Sdn.Bhd. were banked into Samy Vellu’s personal account at Jalan Masjid India Branch of the defamation already.
I must thank Samy Vellu however for voluntarily admitting that he had not only banked RM4.09 million from the proceeds of the 360,000 Telekom shares in April 1992, but that he had in fact banked RM38 million into his personal account.
Has Samy Vellu handed the entire RM38 million to MIED or are they still in his personal account?
It is not good enough for Samy Vellu to claim that he had valid explanation for all transactions for the banking of RM38 million into his personal account, but he owes all MAIKA shareholders, MIC members, the Indian community and in fact all Malaysians a full explanation for banking RM38 million from the proceeds of the sale of Telekom shares into his personal account. Furthermore, such an explanation must be able withstand public scrutiny.
What has happened to the RM38 million from the proceeds of the sale of the Telekom shares which he had banked into his personal account, whether these monies are still in his personal account, or whether they had been handed over the MIED for the TAFE College.
Samy Vellu should produce receipts to prove, backed by MIED accounts, that the RM38 million which he had banked into his personal account had in fact been transferred to MIED.