Category: KSM-MPHBI Fund

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Wednesday, 28th March 1990:

Call on MCA delegates who have a sense of justice to requisition an extraordinary general meeting (EGM) to direct the MCA Central Committee to support the block sale of the 147.98 million MPHB shares at premium price

At his press conference after my meeting with him at the MCA Headqyarters yesterday was called off, MCA President, Datuk Dr.Ling Liong Sik, delcared that the MCA would not object if the 50,398 KSM-MPHBIF unitholders decide to sell their 147.98 million MPHB shares en block. Continue reading Call on MCA delegates who have a sense of justice to requisition an extraordinary general meeting (EGM) to direct the MCA Central Committee to support the block sale of the 147.98 million MPHB shares at premium price

Press Conference Statement by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at the DAP PJ Hqrs on Tuesday, 27th March 1990 at 2.30 p.m.

MCA planned the break-up of the KSM-MPHBIF meeting at MCA hqrs today to avoid making a commitment that MCA leadership fully support the sale of the 148 million MPHB shares in one block to get highest premium price for the best interest of the 50,398 unitholders

I regret that the MCA leadership had planned the break-up of the KSM-MPHBIF meeting between myself and Ling Liong Sik. Continue reading MCA planned the break-up of the KSM-MPHBIF meeting at MCA hqrs today to avoid making a commitment that MCA leadership fully support the sale of the 148 million MPHB shares in one block to get highest premium price for the best interest of the 50,398 unitholders

By Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at the meeting with MCA President and Transport Minister, Datuk Dr.Ling Liong Sik, at MCA Headquarters on the KSM-MPHBIF on Tuesday, 27th March 1990 at 10 a.m.:
Position

The DAP’s position on KSM-MPHBIF has always been clear and unequivocal right from the beginning.

The KSM-MPHBIF was conceived as a one-counter unit trust where each unit was equal to one share in MPHB. In fact, when the KSM-MPHBIF was launched about 10 years ago, the selling line by MCA leadership was that loyal MCA members should ensure that the MCA project, the Multi-Purpose Holdings Bhd. (MPHB) should be protected from any possible take-over. As KSM had only 28.9 per cent stake in MPHB, which was not enough to ward off any take-over bid of MPHB, the KSM-MPHBIF was born to ask loyal MCA member in the KSM to contribute to an Investment Trust Fund for MPHB shares amounting to 19.7 per cent stake which together with the 28.9 per cent stake in MPHB shares would ensure that MPHB would always be un the control of the MCA leadership. Continue reading The DAP’s position on KSM-MPHBIF has always been clear and unequivocal right from the beginning.

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Monday, 26th March 1990:

Lim Kit Siang confirms meeting with Ling Liong Sik at MCA headquarters tomorrow at 10 a.m. and suggests the presence of KSM Receiver, Khoo Eng Choo, the Receivers’ lawyers, and Kamunting Chief Executive, T.K.Lim

I confirm that I will be at the MCA Headquarters at 10 a.m. tomorrow, together with DAP MP for Kota Melaka, Lim Guan Eng, the MP for Seputeh, Liew Ah Kim and DAP Malacca Assemblyman for Durian Daun, Kerk Kim Hock to meet with the MCA President, Datuk Dr.Ling Liong Sik, on the best possible deal for the 50,398 KSM-Multi-Purpose Holding Bhd. Investment Fund (KSM-MPHBIF) unitholders. Continue reading Lim Kit Siang confirms meeting with Ling Liong Sik at MCA headquarters tomorrow at 10 a.m. and suggests the presence of KSM Receiver, Khoo Eng Choo, the Receivers’ lawyers, and Kamunting Chief Executive, T.K.Lim

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Sunday, March 25, 1990:

50,398 KSM-Multi-Purpose Holdings Bhd. Investment Fund unitholders may lose as much as $150 million under the present MCA-approved formula

Yesterday, the MCA Headquarters issued a statement on behalf of the Pulau Ketam headman, Cheah Swee Kim, who purportedly spoke on behalf of about 200 KSM-Multi-Purpose Holdings Bhd. Investment Fund unitholders (KSM-MPHBIF), warning Lim Guan Eng and me that we have to bear all the consequences for any losses suffered by the unitholders for our ‘interference’ in the KSM-MPHBIF issue. Continue reading 50,398 KSM-Multi-Purpose Holdings Bhd. Investment Fund unitholders may lose as much as $150 million under the present MCA-approved formula

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Saturday, March 24, 1990:

Lim Kit Siang to visit MCA headquarters on Tuesday at 2 p.m. to meet Datuk Dr.Ling Liong Sik on how to protect the best interests of the 50,398 KSM-MPHBIF unitholders

The 500,000 MCA members, and in particular the 50,398 KSM-MPHBIF unitholders, were expecting the MCA President, Datuk Dr.Ling Liong Sik, to use the occasion of the Selangor MCA 41st party anniversary dinner in Petaling Jaya last night to explain what the MCA leadership was doing to protect the best interests of the KSM-MPHBIF unitholders. Continue reading Lim Kit Siang to visit MCA headquarters on Tuesday at 2 p.m. to meet Datuk Dr.Ling Liong Sik on how to protect the best interests of the 50,398 KSM-MPHBIF unitholders

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, Petaling Jaya on Friday, 23rd March 1990:

Lim Kit Siang accepts the invitation of Liong Sik and agress to meet the MCA President to discuss the best deal for the 50,398 unit-holders of the KSM-MPHBIF

I am accepting the invitation of the MCA President, Datuk Dr.Ling Liong Sik, and agree to meet him to discuss the best deal for the 50,398 unit-holders of the KSM-Multi-Purpose Holding Bhd. Investment Fund (MPHBIF), to ensure that after 10 years of loyalty to the MCA, KSM and MPHB, they get the best price for their investment. Continue reading Lim Kit Siang accepts the invitation of Liong Sik and agress to meet the MCA President to discuss the best deal for the 50,398 unit-holders of the KSM-MPHBIF

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Wednesday, 21st March 1990:

A further six questions for Ling Liong Sik on the KSM-Multi-Purpose Holdings Bhd Investment Fund (KSM-MPHBIF)

MCA President, Datuk Dr.Ling Liong Sik, has completely evaded my eight questions to him about the KSM-Multi-Purpose Investment Fund (KSM-MPHBIF) Continue reading A further six questions for Ling Liong Sik on the KSM-Multi-Purpose Holdings Bhd Investment Fund (KSM-MPHBIF)

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, after the official opening of the DAP Conference of national and state leaders at Federal Hotel, Kuala Lumpur on Sunday, 18th March 1990:

Eight questions for Lin Liong Sik on the KSM-Multi Purpose Holdings Bhd Investment Fund (KSM-MPHBIF)

I have received numerous complaints by long-standing MCA members who are registered holders of the KSM-Multi Purpose Holding Bhd. Investment Fund (KSM-MUHBIF) upset by recent news reports of the proposed dissolution of the Fund and the MPHB share for every unit of Investment Fund solution. Continue reading Eight questions for Lin Liong Sik on the KSM-Multi Purpose Holdings Bhd Investment Fund (KSM-MPHBIF)

By Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Penang on Monday, 3.8.1987:

Closure of 55 KSM branches and retrenchment of 160 employee unfair and unjust, and reflects on competence

The closure of the 55 KSM branches and retrenchment of 160 employees without riving the workers adequate notice is most unfair, unjust and reflects very poorly on the competency, officiency and forward-planning of the KSM receiver, Price Waterhouse. Continue reading Closure of 55 KSM branches and retrenchment of 160 employee unfair and unjust, and reflects on competence