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INSURANCE companies, like most financial institutions in this country, are tempting targets because they are a licensed business, which by implication means they are not easy to come by. Furthermore, it is perceived as a major coup if an entrepreneur, never mind that he already owns a sprawling business empire, manages to grab a financial entity and add that to his stable of achievements.
MAIKA Holdings Bhd's current state belies its euphoric start. Many, a lot of them rural folk, were swept away by the fancy promises of future profits by its promoters and the fact that their hard-earned monies, ploughed in to buy Maika shares, would turn them into stakeholders of the national economy.
The Malaysian Indian Metal Traders and Recyclers Association (MIMTA) is appealing to the Government to resolve the issuance of new licences for scrap metal traders in the country.