BATU PAHAT: The decision by MCA’s investment arm Huaren Holdings Sdn Bhd to dispose of its shares in Media Chinese International Ltd is made by the party presidential council, said president Datuk Seri Dr Chua Soi Lek.
He said the decision was also taken to fulfil his promise under his party election manifesto.
“I promised in my manifesto to dispose of the shares when I became president.
“We were very small shareholders (in Media Chinese International Ltd) but it has given rise to the perception that we were major shareholders,” he said, adding that MCA had always practised a hands-off approach and would never interfere in company matters.
Dr Chua told reporters after chairing the Johor MCA liaison meeting here yesterday that the council needed to discuss further the outcome for The Star.
“We need to discuss further because it is a listed company. The newspaper was built up from strength to strength from the time of Tun Dr Ling (Liong Sik),” he said.
He added that because he had always adopted a hands-off approach, The Star had been able to do well due to non-political interference.
“The Star has become a credible newspaper and thus, we will continue to adopt this non-interference method,” he said.
THE SATR (Monday September 27, 2010)