27/03/2025
Call for MAIKA and Others Reform: Allegations of Mismanagement in MIC’s Allocations for the Indian Community Which Led to the Community’s Downfall and Marginalization
KUALA LUMPUR – Since its formation in 1973, Barisan Nasional (BN) has played a crucial role in Malaysia’s development, ensuring the fair distribution of opportunities and allocations based on community needs. Under this coalition, the Indian community was provided with substantial funds and opportunities, primarily channeled through the Malaysian Indian Congress (MIC).
However, concerns have been raised regarding the management and distribution of these resources, with allegations that they have benefited only a select few rather than the broader community.
The Indian community experienced increased opportunities under the leadership of Datuk Seri Utama Samy Vellu, the 7th President of MIC. Similar to how UMNO established agencies such as Permodalan Nasional Berhad (PNB), Khazanah Nasional, Majlis Amanah Rakyat (MARA), and the Federal Land Development Authority (FELDA) to uplift the Malay community, MIC was entrusted with entities like MAIKA Holdings, MIC was given shares in all Government Linked Companies (GLCs), which were meant to be used for community development, and the National Land Finance Cooperative Society (NLFCS), TAFE College, AIMST University, VENTO Academy, and several others, forming what should have been a multi-billion-dollar business empire that provides for the community.
Despite these allocations, many of these institutions are now alleged to operate in secrecy, benefiting only a small elite group of multimillionaires—some of whom have become billionaires linked by caste, family ties, and political affiliations. Critics argue that the total assets and net worth of these opportunities could have uplifted the entire Indian community, placing them on par with the Malay and Chinese communities in Malaysia. Instead, mismanagement and a lack of transparency have left many in the community struggling, while a select few continue to thrive and even settle abroad.
This raises serious concerns about the fate of these assets and the broader implications for the Indian community. Many voices within the community are now calling for a complete overhaul of MIC’s management of resources, with allegations that these funds have been siphoned through various channels for personal benefit under the guise of community development. There is increasing demand for those in power to step down and for a thorough investigation into the handling of MAIKA Holdings and other cooperative allocations meant for the people.
While UMNO and MCA have been recognized for their efforts in supporting their respective communities, MIC is facing mounting criticism for allegedly prioritizing personal and political interests over the welfare of the wider Indian population. The call for reform is growing stronger, and the community is demanding accountability from those who have long held positions of power. The time for accumulating wealth at the expense of the people is over—now is the time to step down.
According to sources, concrete evidence of mismanagement exists. The crucial question remains: Will those responsible step aside for the greater good of the Indian community, or will history continue to repeat itself?
It is time to return what rightfully belongs to the community or the community will reclaim it before PRU16.
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