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Tuesday September 24, 2013 MYT 12:00:00 AM
Tuesday September 24, 2013 MYT 7:14:40 AM
by christina tan
Dr Chua (left) attending the Batu Pahat MCA division general meeting.
BATU PAHAT: MCA’s assets grew by RM107mil when Datuk Seri Dr Chua Soi Lek took over the helm as party president in March 2010.
Dr Chua said he had to reveal this to counter allegations that he had been selling off party assets.
The MCA, he said, had also appointed tax and financial advisers to re-organise its assets to be more tax efficient.
Dr Chua said the advisers recommended that shares in The Star and Wisma MCA be transferred and registered under the party.
Prior to this, the MCA president is a trustee for The Star.
“Through this we can save a lot of money because the dividend from The Star shares and rental from Wisma MCA will be tax-free as MCA is a political party and so, tax can be exempted.
“Secondly, it is to ensure greater security and protection to the party’s assets. To sell off the assets, it will have to be approved by two-thirds of the central committee members,” he said at the Batu Pahat MCA division general meeting on Sunday night.
Dr Chua said the party saved RM700,000 in tax every year from the rental, while the MCA’s stake in The Star increased from 41% to 42.4% in the last three years.
The party also bought Menara Multi Purpose and registered it under the party and its rental was also tax-free, he said.
Dr Chua said accusations that he had secretly sold off The Star shares were “just nonsense”.
“I am sorry that I have to disclose this in order to counter the allegations made by some people within the party who want to smear my name,” he said, adding that MCA’s accounts were all audited.
In May, Star Publications (M) Bhd clarified that there was no buyout of MCA’s shares in The Star.
The MCA is the major shareholder in the media company.
On another issue, Dr Chua said that since the May general election, he had talked less as he believed that the MCA should not “wash dirty linen in public”.
However, he said a small number of leaders, would do just that – talk – but did nothing to help the MCA in its transformation process.
He said these leaders had been quiet in the past three years, but became vocal after GE13.
“There are many text messages to scold people, poison pen letters and press conferences held,” he said.
“Why is there a need to be fierce? The party will be better today if they are fierce to Umno or the DAP,” he said, reminding these few leaders not to belittle the intelligence of the party’s grassroots leaders.
During the meeting, the Batu Pahat division passed a resolution to support Dr Chua in leading the MCA and to be re-elected as president in the upcoming party elections.
The division also passed another resolution to protest against deputy president Datuk Seri Liow Tiong Lai’s action to call for an extraordinary general meeting, saying that it would be a waste of time and money, and it could potentially cause a party crisis.
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Politics, Dr Chua Soi Lek
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