Category: Co-Operative Finance Scandal

Datuk Lee Kim Sai should resign as Labour Minister if he backs out and fails to get the government to release $600 million to 588,000 depositors as I have accepted his challenge to assume responsibility for all consequences

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Gopeng on Wednesday, 13.5.1987:

Datuk Lee Kim Sai should resign as Labour Minister if he backs out and fails to get the government to release $600 million to 588,000 depositors as I have accepted his challenge to assume responsibility for all consequences

MCA Deputy Minister and Labour Minister, Datuk Lee Kim Sai, should resign as Labour Ministerin shame and dishonor if he backs out of his challenge to me that if I accept full responsibility for all consequences, the MCA will get the Government to immediately release
$600 million for the 588,000 co-operative depositors. Continue reading Datuk Lee Kim Sai should resign as Labour Minister if he backs out and fails to get the government to release $600 million to 588,000 depositors as I have accepted his challenge to assume responsibility for all consequences

Call on Bank Negara to freeze or re-freeze the assets of Tan Koon Swan, Kee Yong Wee, Wang Choon Wing, Dr. Tan Tiong Hong and other MCA leaders under Emergency Regulations to protest the interests of 588,000 depositors

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung, Lim Kit Siang, at the 588,000 Co-operative Depositors Protest Burning of the ‘Co-operative Snakes’ held in Lawan Kuda padang on Tuesday, 12.5.1987 at 5 pm

Call on Bank Negara to freeze or re-freeze the assets of Tan Koon Swan, Kee Yong Wee, Wang Choon Wing, Dr. Tan Tiong Hong and other MCA leaders under Emergency Regulations to protest the interests of 588,000 depositors

Three important facts have been clearly established nine months after the outbreak of the $1.5 billion Co-operation Finance Scandal, hitting 588,000 co-operative depositors and over half of the Chinese community. Continue reading Call on Bank Negara to freeze or re-freeze the assets of Tan Koon Swan, Kee Yong Wee, Wang Choon Wing, Dr. Tan Tiong Hong and other MCA leaders under Emergency Regulations to protest the interests of 588,000 depositors

I accept full responsibility for the consequences of the 24 co-operatives if the Government is prepared to make a $600 million grant apart from the $400 million soft-loan scheme

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung, Lim Kit Siang at a DAP Gopeng Parliamentary by-election ceramah at Kinta Valley Estate, Batu Gajah on Monday, 11.5.1987 at 9 pm

I accept full responsibility for the consequences of the 24 co-operatives if the Government is prepared to make a $600 million grant apart from the $400 million soft-loan scheme

Yesterday, Datuk Lee Kim Sai challenged me whether I would accept the full consequences if the Government agreed to allocate $600 million to aid the co-operatives. Continue reading I accept full responsibility for the consequences of the 24 co-operatives if the Government is prepared to make a $600 million grant apart from the $400 million soft-loan scheme

Call on Datuk Lee Kim Sai to stop ‘drawing biscuits to satisfy hunger’ and mock the sufferings of the 588,000 co-operative depositors

by Parliamentary Opposition Leader, DAP Secretary-General and Mp for Tanjung, Lim Kit Siang, in Gopeng on Sunday, 0.5.1987:

Call on Datuk Lee Kim Sai to stop ‘drawing biscuits to satisfy hunger’ and mock the sufferings of the 588,000 co-operative depositors

MCA Deputy President, Datuk Lee Kim Sai, should stop ‘drawing biscuits to satisfy hunger’ as their solution to the hardships and sufferings of the 588,000 depositors. Continue reading Call on Datuk Lee Kim Sai to stop ‘drawing biscuits to satisfy hunger’ and mock the sufferings of the 588,000 co-operative depositors

Call on Lee Kim Sai to stop being the biggest political boaster in Malaysia, and should instead get Dr. Mahathir or Ghaffar to come to Gopeng to release $600 million to co-operative depositors before polling day

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung, Lim Kit Siang at a DAP Gopeng Parliamentary by-election ceramah at Gopeng market on Sunday, May 10, 1987 at 8.30 pm

Call on Lee Kim Sai to stop being the biggest political boaster in Malaysia, and should instead get Dr. Mahathir or Ghaffar to come to Gopeng to release $600 million to co-operative depositors before polling day

MCA Deputy President, Datuk Lee Kim Sai, is the biggest political boaster in Malaysia, for he said yesterday that if the MCA nods its head, the co-operative depositors can get $600 million any time but the MCA wants instead $1.4 billion from the Government. Continue reading Call on Lee Kim Sai to stop being the biggest political boaster in Malaysia, and should instead get Dr. Mahathir or Ghaffar to come to Gopeng to release $600 million to co-operative depositors before polling day

Call on co-operatie depositors to gather at Gopeng on 12th May to witness the public burning of ‘co-operative snakes’ and demand Cabinet pledge of full refund of $1.5 billion co-operative deposits

Speech by Parliamentary Opposition Leader, DAP Secretary-General, MP for Tanjung, Lim Kit Siang, at the DAP Gopeng Parliamentary by-election campaign ceramah at Simpang Pulai on Friday, 8.5.1987 at 9 p.m.

Call on co-operatie depositors to gather at Gopeng on 12th May to witness the public burning of ‘co-operative snakes’ and demand Cabinet pledge of full refund of $1.5 billion co-operative deposits

The $1.5 billion co-operative finance scandal is the result of the fraud and criminal breach of trust of ‘co-operative snakes’ – but there is no doubt that these ‘co-operative snakes’ would not have been able to created the greatest financial catastrophe for the Malaysian Chinese community, if not for the collusion and protection given by the ‘political snakes’ in the MCA. Continue reading Call on co-operatie depositors to gather at Gopeng on 12th May to witness the public burning of ‘co-operative snakes’ and demand Cabinet pledge of full refund of $1.5 billion co-operative deposits

Datuk Dr. Ling Liong Sik’s statement on MCA’s stand on full refund to co-operative depositors by early 1989 is as empty as the MCA’s general elections promise of amendment of Clause 21(2) of the 1961 Education Act

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at the second DAP Gopeng Parliamentary by-election ceramah at Chendetong New Village on Nomination Bight, Thursday, 7.5.1987 at 10 p.m., followed by the public burning of a 100-foot ‘co-operative snake’

Datuk Dr. Ling Liong Sik’s statement on MCA’s stand on full refund to co-operative depositors by early 1989 is as empty as the MCA’s general elections promise of amendment of Clause 21(2) of the 1961 Education Act

MCA President, Datuk Dr. Ling Liong Sik, said two days ago that the MCA Central Committee had decided on the stand that the 588,000 co-operative depositors should get back every riggit they have deposited at the latest by early 1989. Continue reading Datuk Dr. Ling Liong Sik’s statement on MCA’s stand on full refund to co-operative depositors by early 1989 is as empty as the MCA’s general elections promise of amendment of Clause 21(2) of the 1961 Education Act

Challenge to Datuk Lee Kim Sai whether he would resign as Minister if it is proved that MCA ministers supported a Cabinet decision which rejected the principle of dollar-for-dollar refund for the 588,000 co-operative depositors

Press Statement by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Tuesday, 28.4.1987.

Challenge to Datuk Lee Kim Sai whether he would resign as Minister if it is proved that MCA ministers supported a Cabinet decision which rejected the principle of dollar-for-dollar refund for the 588,000 co-operative depositors

MCA Deputy President, Datuk Lee Kim Sai, has denied my allegation at the Ipoh cooperative depositors protest meeting on Saturday that MCA Ministers had opposed the dollar-for-dollar refund to cooperative depositors in the Cabinet. Continue reading Challenge to Datuk Lee Kim Sai whether he would resign as Minister if it is proved that MCA ministers supported a Cabinet decision which rejected the principle of dollar-for-dollar refund for the 588,000 co-operative depositors

Challenge to Datuk Dr. Ling Liong Sik and MCA Ministers to deny that they opposed a ‘dollar-for-dollar’ refund in Cabinet

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at the second series of the nation-wide public protest meetings of 588,000 co-operative depositors held at Wisma Chin Woo, Ipoh on Saturday, 25th April 1987 at 8pm

Challenge to Datuk Dr. Ling Liong Sik and MCA Ministers to deny that they opposed a ‘dollar-for-dollar’ refund in Cabinet.

For the first five months after the Bank Negara freeze on the 23 deposit-taking co-operatives on August 8, 1986, involving $1.5 billion hard-earned savings of 588,000 co-operative depositors, MCA Ministers and leaders showed utter indifference to the plight and sufferings of the depositor. Continue reading Challenge to Datuk Dr. Ling Liong Sik and MCA Ministers to deny that they opposed a ‘dollar-for-dollar’ refund in Cabinet

Is the next scandal in Malaysia a $500 million Insurance Scandal?

Press Statement(2) by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Thursday, 23.4.1987:

Is the next scandal in Malaysia a $500 million Insurance Scandal?

Deputy Finance Minister, Sabarrudin Cik, told the Malay Mail today that the Director-General of Insurance had issued a directive to all insurance companies to stop giving financial guarantee for loans undertaken by clients or face appropriate action. Continue reading Is the next scandal in Malaysia a $500 million Insurance Scandal?