by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Monday, June 6, 1994:
Liong Sik should raise in Cabinet on Wednesday the resolution of the Federation of Motor and Credit Companies Associations of Malaysia opposing the liquidation of Mercantile Insurance Sdn. Bhd
MCA President and Transport Minister, Datuk Dr. Ling Liong Sik, should raise in the Cabinet on Wednesday the resolution of the Federation of Motor and Credit Companies Associations of Malaysia (FMCCAM) opposing the liquidation of Mercantile Insurance Sdn. Bhd as proposed by Bank Negara.
The FACCAM’s 16th annual general meeting in Penang yesterday proposed that the Mercantile Insurance Sdn. Bhd. should be converted into a motor insurance company.
As Transport Minister, Liong Sik should also raise in Cabinet the problems faced by motor-vehicle owners following the new guidelines by certain insurance companies refusing to insure vehicles which are over 10 years old, or commercial vehicles which are over five years old.
It is scandalous that out of the six million vehicles on the road, about 30 to 40 per cent do not have adequate insurance. This is a matter which Liong Sik must assume personal responsibility to resolve without any more delay.